LONDON: JPMorgan Global Emerging Markets Income Trust secures new authority to issue shares in response to investor demand
May 24, 2012
London, 24 May 2012: JPMorgan Global Emerging Markets Income Trust (LSE: JEMI) has secured renewed shareholder approval to issue new shares over the coming year in order to meet demand from investors. Shares would be issued at a premium to net asset value, thus ensuring existing investors' shareholdings are not diluted.
Launched in June 2010, JPMorgan Global Emerging Markets Income Trust aims to deliver a combination of capital growth and a diversified source of income by investing principally in shares of companies operating in emerging markets throughout the world. It is managed by Richard Titherington and his team at J.P. Morgan Asset Management and has net assets under management of £181m.
Since launch, demand for the shares has been high, with new shares issued at a premium to meet investor demand on more than 90 separate occasions. However, should sentiment reverse, the trust also has a discount control mechanism in place to protect shareholders' interests.
David Barron, Head of Investment Trusts at J.P. Morgan Asset Management, said: "The strength of demand for the JPMorgan Global Emerging Markets Income Trust has underlined the investor appetite for diversified sources of income in an environment where returns on cash and bonds continue to disappoint. By securing this authority to issue new shares according to demand, the trust can serve the needs of both new and existing investors who wish to tap in to the greater growth potential, and increasingly the attractive dividend stream, available from emerging market companies. Having the flexibility to meet ongoing demand and manage both the premium and any potential discount means JPMorgan Global Emerging Markets Income Trust is better placed to serve the needs of both individual shareholders and financial advisers who wish to add to their clients' holdings in the trust with certainty about both liquidity and price."
You can view the prospectus here.
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Notes to Editors
About J.P. Morgan Asset Management
J.P. Morgan Asset Management is part of JPMorgan Chase & Co. and is a global asset management leader providing world-class investment solutions to clients. With US$1.4 trillion in assets under management (the Asset Management client funds of JP Morgan Chase & Co. as at 31 March 2012) 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 material is not a guide to future performance and the value of investments, and any income from them, can fall as well as rise. Any tax concessions referred to are not guaranteed and their value will depend on the individual circumstances of investors. 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.