Tactical Change in Gearing Level

RNS Number : 6840E

JPMorgan American IT PLC

22 October 2018

 

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN AMERICAN INVESTMENT TRUST PLC

('the Company')

TACTICAL CHANGE IN GEARING LEVEL

The Company's gearing policy is to operate within a range of 5% net cash to 20% geared in normal market conditions with a strategic level of gearing being set at 10% plus or minus 2%.

The Manager believes that current market conditions warrant a revision of the tactical gearing level to 0% plus or minus 2% from the previous level of 5%, again plus or minus 2%, announced on 8th June 2018.

Commenting on this change of gearing level, Dr Kevin Carter, the Chairman of the Company commented, "This change in tactical gearing level reflects the increasingly cautious view of our Manager, Garrett Fish.  While the Company will remain fully invested in US equities, reflecting long-term confidence in the investment opportunities offered by the world's largest equity market, the Manager's quantitative tools and qualitative views on valuation measures and broader economic indicators all point to a medium term view in which expected returns may be muted."

22nd October 2018

For further information, please contact:

Alison Vincent

For and on behalf of

JPMorgan Fund Limited - Secretary

020 7742 6000

 

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