Modification to Investment Guidelines

RNS Number : 5002S
JPMorgan UK Smaller Cos IT PLC
14 July 2022
 

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN UK SMALLER COMPANIES INVESTMENT TRUST PLC

MODIFICATION TO INVESTMENT GUIDELINES

Legal Entity Identifier: 549300PXALXKUMU9JM18

 

14 July 2022

 

JPMorgan UK Smaller Companies Investment Trust plc's (the "Company") investment objective and policy is to achieve capital growth from a diversified portfolio of UK listed smaller companies. The benchmark index is the Numis Smaller Companies plus AIM (excluding Investment Companies) Index (the "Benchmark").

 

AIM stocks currently comprise 37% of the Benchmark, up from c. 27% at the time the new Benchmark was adopted in January 2019.  Since adoption of the new Benchmark, the Company has seen the proportion of its assets invested in AIM stocks increase to 47.9% of gross assets, as at 12 July 2022.

 

With more small cap companies choosing to list on AIM and fewer moving from AIM to the Main Market of the London Stock Exchange, the Company has agreed with its Managers, JPMorgan Asset Management, to increase the percentage of assets which the Company can hold in AIM stocks. In addition, reflecting the composition of the Benchmark, a minimum holding of AIM stocks relative to the Benchmark is being introduced. The Managers will continue to focus on investing in quality smaller companies and continue to pay very close attention to the corporate governance of all investments.

 

Currently, there is an investment restriction that the Company will not normally invest more than 50% of its gross assets in AIM stocks. With immediate effect, the Company will amend this investment restriction to "The Company may invest in AIM stocks up to a maximum and minimum exposure limit of +/-20% relative to the Benchmark".

 

14 July 2022

 

 

Enquiries:

 

For further information, please contact

Lucy Dina

Company Secretary

 

For and on behalf of

JPMorgan Funds Limited

020 7742 4000



This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCBGGDRDXBDGDS
UK 100

Latest directors dealings