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Additional share issurance for Emerging Market Income Trust

27th April 2011 Print

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."