Implementation of policy
23 Mai 2007 - 9:00AM
UK Regulatory
RNS Number:0399X
JPMorgan Progressive Multi-Strategy
23 May 2007
23 May 2007
JPMorgan Progressive Multi-Strategy Fund Limited
Implementation of investment policy
JPMorgan Progressive Multi-Strategy Fund Limited (the "Company"), whose shares
commenced trading on AIM on 15 May 2007, announces that it has applied to
subscribe substantially all of its net funds amounting to, in aggregate,
#24,590,000 for A class shares of JPMorgan Progressive Multi-Strategy Fund
("PM-S Fund"), a sub-fund of JPMorgan Portfolio Strategies Funds II, a
Luxembourg umbrella investment company. The investment is being made in
accordance with the Company's investment objective which is to achieve, over
the medium to long term, a return broadly comparable to direct equity
investments but at a lower level of volatility.
Following the investment, the Company will be the majority shareholder in PM-S
Fund.
The Company intends to publish an estimated weekly net asset value, and a
month-end net asset value, from June 2007. The month-end net asset value, to
the extent practicable, will not be an estimate and will reflect the fair value
of the underlying investments in PM-S Fund.
Since inception on 31 October 2006 to 30 April 2007, PM-S Fund has delivered a
total return of 6.5 per cent.
Further details on the Company are available on
www.jpmprogressivemultistrategy.co.uk
Press Enquiries
JPMorgan Asset Management (UK) Limited
David Barron - 020 7742 3475
Shore Capital
Alex Borrelli - 020 7408 4090
This information is provided by RNS
The company news service from the London Stock Exchange
END
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