LONDON STOCK EXCHANGE
ANNOUNCEMENT
JPMORGAN GLOBAL CORE REAL
ASSETS LIMITED
("JARA" or the
"Company")
MONTHLY PORTFOLIO
UPDATE
Legal Entity Identifier:
549300D8JHZTH6GI8F97
Result of Extraordinary
General Meeting
Further to the Company's
announcement of 20 December 2024 confirming all resolutions
contained in the Notice of Meeting dated 3 December 2024 were
passed, the Company has now entered into managed wind-down
("Managed Wind-Down"). The details of the Managed Wind-Down process
are outlined in the circular published by the Company on 3 December
2024, a copy of which can be found on the Company's website;
www.jpmrealassets.co.uk.
Until further notice, the Company
will continue to issue monthly Net Asset Value announcements and
quarterly portfolio updates as usual to ensure transparency for
shareholders.
Net Asset
Value
The Company's unaudited net asset
value ('NAV') as at 31 December 2024 is 96.29 pence per share (30
November 2024 NAV: 95.53 pence per share), an increase of 0.8%. The
US dollar appreciated by approximately 1.5% against Sterling, which
positively impacted the NAV performance. The Company's share price
as at 31 December 2024 was 78.80 pence and the discount to NAV was
18.2%.
An analysis of the components to
this NAV and the relevant dates for their valuation is provided
below.
Strategies
|
Name
|
Date of
price for Strategy
|
% of
JARA's NAV as at 31 December 2024
|
|
Infrastructure
|
30
September 2024
|
22.1%
|
|
Transportation
|
30
September 2024
|
21.1%
|
|
Real Estate Equity - US
|
30
September 2024
|
17.1%
|
|
Real Estate Equity -
Asia-Pacific
|
30
September 2024
|
15.9%
|
|
US Real Estate Debt
|
30
September 2024
|
7.4%
|
|
Liquid Strategy
|
Now sold
for cash
|
0.0%
|
|
Cash
|
31
December 2024
|
16.4%
|
Exchange
Rates
The GBP/USD exchange rate was
1.25240 as at 31 December 2024 (30 November 2024:
1.27105).
Return of
Capital
The Board expects that the first
redemption payment to the Company's shareholders will represent
between 15% and 20% of the Company's NAV at the time of calculation
and will be made by the end of March 2025*. This remains in line
with the estimated quantum and timing outlined in the circular
published by the Company on 3 December 2024. A further announcement
providing details of the first redemption payment will follow in
due course.
* The expected
timetable for this redemption should only be taken as an indication
and not as a guarantee of the actual timeline for such redemption
to be made by the Company. This redemption payment will be
calculated on the prevailing net asset value (less expenses and
costs of subsequently de-listing and liquidation of the Company) at
the time of the redemption.
23 January 2025
Emma Lamb
JPMorgan Funds Limited - Company
Secretary
E-mail:
invtrusts.cosec@jpmorgan.com
Telephone: 0800 20 40 20 (or +44
1268 44 44 70)