Change to Investment Management Fee Arrangements

RNS Number : 0437H

JPMorgan Smaller Cos IT PLC

29 July 2019

 

STOCK EXCHANGE ANNOUNCEMENT

 

JPMORGAN SMALLER COMPANIES INVESTMENT TRUST PLC

CHANGE TO INVESTMENT MANAGEMENT FEE ARRANGEMENTS

Legal Entity Identifier: 549300PXALXKUMU9JM18

29th July 2019

The Board of JPMorgan Smaller Companies Investment Trust plc announces that, following a review, the Company's investment management fee arrangements with JPMorgan Funds Limited ('JPMF') will change.

With effect from 1st August 2019, the annual investment management fee, currently 80bps per annum on gross assets up to £200 million and 70bps on gross assets over £200 million, will be charged at an annual rate as detailed below:

·    75bps on the first £200 million of gross assets;

·    65bps on gross assets in excess of £200 million.

The Chairman, Michael Quicke, commented:

"This reduction in management fees reflects a general trend across the market and follows constructive discussions with the Manager. Other than when required for succession purposes, the Board has also decided to have four rather than five directors following my retirement at the AGM this year. These changes will reduce ongoing charges and should make the Company more attractive for investors."

For further information, please contact:

Lucy Dina

For and on behalf of

JPMorgan Funds Limited - Company Secretary

020 7742 4000

 

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