Additional share issuance for Emerging Market Income Trust
LONDON 26 April 2011: J.P. Morgan Asset Management confirms that following the launch of the JPMorgan Global Emerging Markets Income Trust in July 2010, the investment trust has raised a further GBP 40.9 million, which equates to new capital equivalent of more than 39% of the initial public offer proceeds.
The investment trust has raised GBP 14.5 million through the issue of 13.05 million shares as part of regular issuance of shares when the investment trust has traded at a premium. In addition, the conversion share issue raised GBP 26.4 million, attracting new investors across a diverse client base. As a result the market cap of JPMorgan Global Emerging Markets Income Trust is over GBP 165 million (as at 21.04.11).
Speaking about the new share issuances, David Barron, Head of Investment Trusts at J.P. Morgan Asset Management, said, “The JPMorgan Global Emerging Markets Income Trust has traded at a premium since its launch last year. As a result, the Board has taken steps to continue to issue shares where possible to meet the ongoing demand from new and existing shareholders.”
He went on to say, “This investment trust presents a new investment solution to investors and it is clear that, despite challenging markets, there is an appetite for UK investors to seek income away from more traditional sources. The JPMorgan Global Emerging Markets Income Trust demonstrates that investment trusts continue to be at the forefront of new investment initiatives and can deliver solid growth and income for investors.”
Further details on the Company are available at www.jpmglobalemergingmarkets.co.uk. The Investment Trust’s ticker is JEMI for the Ordinary shares.
Winterflood Investment Trusts is acting as sponsor.
Contacts
J.P. Morgan Asset Management
Jayne Fieldhouse, Media Relations
Telephone: 020 7742 8337
Email: Jayne.e.fieldhouse@jpmorgan.com
Lansons Communications
Lucy Banks
Telephone: 020 7294 3689
Email: lucyb@lansons.com
Notes to Editors
About J.P. Morgan Asset Management
J.P. Morgan Asset Management is part of J.P. Morgan Chase & Co. and is a global asset management leader providing world-class investment solutions to clients. With US$1.3 trillion in assets under management (the Asset Management client funds of J.P. Morgan Chase & Co. as at March 31st 2011) and offices in 41 locations around the world, J.P. Morgan Asset Management offers global coverage with a strong local market presence, and leadership positions in most asset classes.
J.P. Morgan Asset Management is a trading name of J.P. Morgan Asset Management Marketing Limited which has issued this material in the United Kingdom and which is authorised and regulated by the Financial Services Authority. Registered in England No. 288553. Registered office: 125 London Wall, London EC2Y 5AJ.
Any past performance referred to in this announcement is not a guide to future performance and the value of investments, and any income from them can fall as well as rise and investors may not get back the original amount invested. Investments in emerging markets may involve a higher element of risk due to political and economic instability and underdeveloped markets and systems, and may be illiquid. Stock market linked investments carry a number of inherent risks. These risks will increase where fluctuations in exchange rates impact on the value of any underlying investments or where the investment is exposed to smaller companies or emerging markets. Investments in fixed income securities that are not rated as investment grade represent a greater risk to an investor’s capital. There is no guarantee that the market price of shares will fully reflect the underlying net asset value and it is not uncommon for the market price of shares to trade at a significant discount to their net asset value.
The information in this announcement is not intended to and does not constitute an offer, solicitation, inducement, invitation or commitment to purchase, subscribe for or to sell any securities and this announcement is not a prospectus. Investors should not subscribe for or purchase shares in JPMorgan Global Emerging Markets Income Trust plc except on the basis of information contained in the prospectus proposed to be published by that company.