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JPMorgan Global Core Real AssetsAnnouncement

23/01/2025 07:00

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RNS Number : 3633U  JPMorgan Global Core Real Assets Ld  23 January 2025

LONDON STOCK EXCHANGE ANNOUNCEMENT

 

JPMORGAN GLOBAL CORE REAL ASSETS LIMITED

("JARA" or the "Company")

 

MONTHLY PORTFOLIO UPDATE

 

 

Legal Entity Identifier: 549300D8JHZTH6GI8F97

 

Result of Extraordinary General Meeting

Further to the Company's announcement of 20 December 2024 confirming all
resolutions contained in the Notice of Meeting dated 3 December 2024 were
passed, the Company has now entered into managed wind-down ("Managed
Wind-Down"). The details of the Managed Wind-Down process are outlined in the
circular published by the Company on 3 December 2024, a copy of which can be
found on the Company's website; www.jpmrealassets.co.uk.

Until further notice, the Company will continue to issue monthly Net Asset
Value announcements and quarterly portfolio updates as usual to ensure
transparency for shareholders.

 

Net Asset Value

 

The Company's unaudited net asset value ('NAV') as at 31 December 2024 is
96.29 pence per share (30 November 2024 NAV: 95.53 pence per share), an
increase of 0.8%. The US dollar appreciated by approximately 1.5% against
Sterling, which positively impacted the NAV performance. The Company's share
price as at 31 December 2024 was 78.80 pence and the discount to NAV was
18.2%.

 

An analysis of the components to this NAV and the relevant dates for their
valuation is provided below.

 

Strategies

 

 Name                               Date of price for Strategy  % of JARA's NAV as at 31 December 2024
 Infrastructure                     30 September 2024           22.1%
 Transportation                     30 September 2024           21.1%
 Real Estate Equity - US            30 September 2024           17.1%
 Real Estate Equity - Asia-Pacific  30 September 2024           15.9%
 US Real Estate Debt                30 September 2024           7.4%
 Liquid Strategy                    Now sold for cash           0.0%
 Cash                               31 December 2024            16.4%

 

Exchange Rates

 

The GBP/USD exchange rate was 1.25240 as at 31 December 2024 (30 November
2024: 1.27105).

 

Return of Capital

 

The Board expects that the first redemption payment to the Company's
shareholders will represent between 15% and 20% of the Company's NAV at the
time of calculation and will be made by the end of March 2025*. This remains
in line with the estimated quantum and timing outlined in the circular
published by the Company on 3 December 2024. A further announcement providing
details of the first redemption payment will follow in due course.

 

* The expected timetable for this redemption should only be taken as an
indication and not as a guarantee of the actual timeline for such redemption
to be made by the Company. This redemption payment will be calculated on the
prevailing net asset value (less expenses and costs of subsequently de-listing
and liquidation of the Company) at the time of the redemption.

 

23 January 2025

 

Emma Lamb

JPMorgan Funds Limited - Company Secretary

E-mail: invtrusts.cosec@jpmorgan.com

Telephone: 0800 20 40 20 (or +44 1268 44 44 70)

 

 

 

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