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Flash update: JPMorgan Global Core Real Assets

JPMorgan 'real asset' trust to issue C-Shares and declares evolution of investment policy…
Thomas McMahon
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Updated 20 Nov 2020
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Disclosure – Non-Independent Marketing Communication

This is a non-independent marketing communication commissioned by JPMorgan Global Core Real Assets . The report has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the dealing ahead of the dissemination of investment research.

JPMorgan Global Core Real Assets (JARA) is aiming to issue C-Shares of at least £80m - £100m. The shares will be issued at NAV less costs (JARA ordinary shares are currently trading on a premium of 11%). This follows the recent completion of the investment of the IPO proceeds, although JARA does have funds still available for investment following subsequent share issuance, which are expected to be near fully deployed around the year end. The C-Share issue will be used to help diversify JARA’s portfolio further, with a similar strategic asset allocation to IPO taking, advantage of the opportunities across infrastructure, property and transport as well a new allocation to US Real Estate Mezzanine Debt. This is intended to generate an attractive yield from a senior part of the capital structure. The offer will close for applications on 9 December 2020 with the shares expected to start trading on 15 December.

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About the Author

Thomas McMahon
[email protected]
Thomas is Head of Investment Companies Research and joined Kepler in April 2018. Previously he was senior analyst at FE Invest, where he was responsible for fund selection for a range of model portfolios. He covered all asset classes over time, but has particular experience with emerging markets and fixed income as well as UK smaller companies funds. He has a degree in Philosophy from Warwick University and is a CFA charterholder.

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