- JP Morgan Indian Investment Trust posted an improved performance in its fiscal first half.

The company produced a total return on net assets in the six months through march of 10.3%.

Its benchmark index, the MSCI India Index, returned 10.0% over the same period.

Chairman Richard Burns said this month's re-election of the Modi government removed some political uncertainty in India.

'The BJP is generally seen as being 'pro business' and the market's initial reaction has been to rise,' Burns said.

'However, as the managers point out in their report, there has been no particular correlation between the party or parties in power and GDP growth in India.'

'As ever, growth in corporate profits will be the key determinant of investor returns. I am optimistic that our portfolio is placed to perform well.'

At 1:22pm: [LON:JII] JPMorgan Indian Investment Trust Plc share price was +8p at 775p

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