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JPMorganInc&CapTst (JPI)

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Wednesday 14 February, 2018


Scheme of Reconstruction - Update

RNS Number : 8632E
JPMorgan Income & Capital Trust PLC
14 February 2018




Scheme of Reconstruction - Update



Legal Entity Identifier: 549300VB8OIJVLR6HX75


14 February 2018


JPMorgan Income & Capital Trust plc (the "Company") published a circular on 25 January 2018 (the "Circular") in connection with the reconstruction of the Company by means of a members' voluntary liquidation pursuant to a scheme of reconstruction under section 110 of the Insolvency Act (the "Scheme"). Pursuant to the Scheme, Shareholders are being offered the choice of: (i) a tax and cost efficient rollover into JPMorgan Multi-Asset Trust plc ("MATE"); and/or (ii) cash.


MATE's portfolio will be managed by the Multi-Asset Solutions Team consisting of over 80 investment professionals located primarily in London, New York and Hong Kong, managing assets of over £150 billion as at 30 September 2017.  The Lead Portfolio Managers identified at the time of the publication of the circular were Talib Sheikh, Katy Thorneycroft and Gareth Witcomb.


The Company has been informed that Talib Sheikh has decided to leave JPMorgan Asset Management to pursue other opportunities.  Katy Thorneycroft and Gareth Witcomb, will remain as Lead Portfolio Managers and will continue to be supported by the wider Multi-Asset Solutions Team.


The Board believes that a diversified multi-asset portfolio managed by one of the largest global active asset managers provides an attractive investment proposition in the current market environment and have been delighted by the initial response to the MATE offering. 


For further information, please contact:



JPMorgan Funds Limited

Paul Winship, Company Secretary


+44 (0)20 7742 4000


Winterflood Investment Trusts

Joe Winkley

Neil Langford

+44 (0)20 3100 0000




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