Management Fee Reduction

RNS Number : 3953D

JPMorgan Japan Smaller Co Tst PLC

18 February 2020

 

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN JAPAN SMALLER COMPANIES TRUST PLC

MANAGEMENT FEE REDUCTION

Legal Entity Identifier: 549300KP3CRHPQ4RF811

Information disclosed in accordance with the Market Abuse Regulation

The Board of JPMorgan Japan Smaller Companies Trust plc (the 'Company') announces that, following a review, it has reached agreement with JPMorgan Funds Limited, its Manager, to amend the Company's investment management fee arrangements.

With effect from 1st April 2020, the investment management fee will be charged at the rate of 1% per annum on the net asset value of the Company's portfolio up to £150 million and at the rate of 0.75% (previously 0.80%) thereafter. Furthermore, it has been agreed that the £200,000 per annum company secretarial fee will be removed from the same date.

Based on the Company's average net assets over the course of 2019, this would amount to an estimated reduction of 9.2% in its Ongoing Charges Ratio (from 1.09% on the previous basis to 0.99% from 1 April 2020).

The fee will continue to be calculated and paid monthly.

18th February 2020

JPMorgan Funds Limited

Company Secretary

For further information, please contact:

Divya Amin

JPMorgan Funds Limited, 020 7742 4000

 

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