Change in Gearing Range

RNS Number : 3057G

JPMorgan American IT PLC

16 March 2020

 

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN AMERICAN INVESTMENT TRUST PLC (the 'Company')

CHANGE IN GEARING RANGE

Legal Entity Identifier: 549300QNAI4XRPEB4G65

The Board of JPMorgan American Investment Trust plc announces a change in the Company's gearing range effective from 16th March 2020.

The Company has a strategic gearing level of 10%. As announced on 27th February 2020 it has operated with a tactical gearing level of 10%, plus or minus 2%.  In the light of current volatile market conditions, the Board has decided that while the tactical gearing level will remain unchanged at 10%, the permitted range around this level will be widened from plus or minus 2% to plus or minus 4% meaning gearing may vary between 6% and 14%.

There is no change to the Company's available borrowing facilities or to the gearing policy which is to operate within the range of 5% net cash to 20% geared in normal market conditions.
 

16th March 2020

For further information, please contact:

Richard Plaskett

Alison Vincent

JPMorgan Funds Limited - Company Secretary

Telephone [phone]

 

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