CHANGE TO INVESTMENT MANAGEMENT FEE ARRANGEMENTS

RNS Number : 5351C

JPMorgan US Smaller Co. IT

18 June 2019

 

STOCK EXCHANGE ANNOUNCEMENT

 

JPMORGAN US SMALLER COMPANIES INVESTMENT TRUST PLC

CHANGE TO INVESTMENT MANAGEMENT FEE ARRANGEMENTS

Legal Entity Identifier: 549300MDD7SOXDMBN667

Information disclosed in accordance with the Market Abuse Regulations

18th June 2019

The Board of JPMorgan US 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 July 2019, the annual investment management fee, currently 100bps of gross assets, with no tiering, will be charged at an annual rate as detailed below:

-    90bps on the first £100 million of gross assets (excluding any holding in the JPM Liquidity Fund);

-    75bps on gross assets in excess of £100 million of assets (excluding any holding in the JPM Liquidity Fund)

The Chairman, Davina Walter said:   

"The Board is delighted to announce the new fee arrangement.  The Board and JPMF have worked together constructively to structure an investment management fee arrangement that takes into account a range of factors, principally our obligations to the Company's shareholders to ensure they receive good value investment management, but also the Company's positioning in the market place.  The Board and JPMF have worked proactively and cooperatively in this regard.  

We both believe strongly that this new fee structure puts the Company in a competitive position relative to peers, and recognises the expertise and resources that the JPMorgan Asset Management investment team bring to this specialist asset class."

For further information, please contact:

Lucy Dina

For and on behalf of

JPMorgan Funds Limited - Company Secretary

020 7742 4000

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014.  Upon the publication of this announcement via Regulatory Information Service this inside information is now considered to be in the public domain.

 

END

 

 

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