JPMorgan Brazil Investment Trust reports a total return on net assets of 49.8% for the six months to the end of October, compared with the 56.1% return of the benchmark, the MSCI 10/40 Index, over the same period.

The company said the significant fall in the value of sterling following the result of the UK referendum to leave the European Union led to a sharp increase in value of overseas investments in sterling terms. In local currency terms the total return on the company's net assets over the period was 16.7% compared with the benchmark return, again in local currency, of 20.0%.