- JPMorgan Indian Investment Trust undershot its benchmark as the Covid-19 pandemic exacerbated its portfolio losses.

In the first six months ended 31 March 2020, total return on net assets fell 33.6%, well behind the company's benchmark index, the MSCI India Index, which fell 27.9%.

The company's underperformance in recent periods was 'disappointing' and had impacted its longer term performance record, the company said.

'The company has now under-performed the benchmark over three and five years but remains ahead over the ten years to 31st March 2020,' it added.

Looking, the company said that while there was something of a market rally in April, the market was still a long way off pre-Covid levels.

At 8:55am: [LON:JII] Jpmorgan Indian Investment Trust PLC share price was -2.5p at 513.5p

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