Change to Investment Management Fee Arrangements

RNS Number : 7239A

JPMorgan Claverhouse IT PLC

09 June 2016

 

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN CLAVERHOUSE INVESTMENT TRUST PLC

CHANGE TO INVESTMENT MANAGEMENT FEE ARRANGEMENTS

The Board of JPMorgan Claverhouse Investment Trust plc announces that, following a review, the Company's investment management fee arrangements will change. This is intended to introduce arrangements more appropriate to attracting private wealth and retail investors.

With effect from 1st July 2016, the performance fee will be terminated and the management fee will be charged at an amended annual rate of 0.60% of the Company's net assets on the first £500 million, and 0.50% of net assets above that amount.

Carried forward performance fees accrued in calculating the Company's net assets as at 30th June 2016 will be paid out in full. As at 6th June 2016 the estimated accrued performance fee was £0.976 million.

9th June 2016

For further information, please contact:

Jonathan Latter

For and on behalf of

JPMorgan Funds Limited - Secretary

020 7742 4000

Nathan Brown

Numis Securities Limited - Broker

020 7260 1000

Note: For the purposes of the Listing Rules the Company's investment manager, JPMorgan Funds Limited, is a related party of the Company and the change to the investment management fee arrangement falls within Listing Rule 11.1.10 R.

 

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