QUARTERLY NET ASSET VALUE AND PORTFOLIO UPDATE
Summary by AI BETAClose X
LONDON STOCK EXCHANGE ANNOUNCEMENT
JPMORGAN GLOBAL CORE REAL ASSETS LIMITED
("JARA" or the "Company")
QUARTERLY NET ASSET VALUE AND PORTFOLIO UPDATE
Legal Entity Identifier: 549300D8JHZTH6GI8F97
Net Asset Value
The Company announces its unaudited Net Asset Value ("NAV") as at 31st August 2025 of 93.46 pence per share (31st May 2025: NAV 89.67 pence per share). In line with the Company's previously stated policy, the Company paid no dividend during the three-month period to 31st August 2025. The NAV total return for the quarter is +4.2% and +5.1% for the preceding 12 months, while the total share price return for the 12 months to 31st August 2025 was -2.6%.
A snapshot of the components to this NAV and the relevant date for their valuation is provided below.
Strategies
|
Name |
Date of price for Strategy |
% of JARA's NAV as at 31st August 2025 |
|
Real Estate Equity |
30th June 2025 |
78.5% |
|
Transportation |
30th June 2025 |
12.0% |
|
Infrastructure |
30th June 2025 |
3.7% |
|
Cash - held in Sterling |
31st August 2025 |
5.8% |
During the three months to 31st August 2025, all strategies delivered positive returns in local currency terms, with private transportation contributing +0.3%, private real estate equity contributing +0.7%, and private infrastructure contributing minimally due to its limited remaining allocation1. Whilst Sterling2 marginally strengthened against the US dollar in the quarter, on a look through basis Sterling weakened against the underlying currencies in the portfolio, resulting in a net positive currency impact over the Company's quarter to 31st August 2025.
1 The local return contribution is calculated based on the NAV snapshot as of 31st August 2025, excluding cash held in JPM Liquidity Funds.
2The GBP/USD exchange rate was 1.35105 as at 31st August 2025, versus 1.34855 as at 31st May 2025. Currency impact does not factor in an offsetting gain/loss from the hedged infrastructure strategy, which is priced as at 30th June 2025.
Issued Share Capital
As at 31st August 2025, there were 75,458,150 shares in issue.
Portfolio Construction
As at 31st August 2025, the Company's portfolio was valued at £66.4 million (excluding cash held in JPM Liquidity Funds).
Geographical exposure percentage of NAV3
|
|
28.02.25 |
31.05.25 |
31.08.25 |
|
North America |
52% |
45% |
48% |
|
Asia Pacific |
27% |
41% |
46% |
|
Europe |
19% |
14% |
6% |
|
UK |
2% |
~0% |
~0% |
|
Total |
100% |
100% |
100% |
3 As at 31st August 2025. Numbers may not sum due to rounding.
Private Asset Portfolio Metrics
Please see below for the metrics of JARA's private investments. As at 31st August 2025, private asset exposure represented 94% of JARA's NAV.
Investments
· 326 private investments and, at a more granular individual asset level, look through exposure to 1,445 individual assets (31st May 2025: 321 private investments and 1,413 individual assets).
|
|
28.02.25 |
31.05.25 |
31.08.25 |
|
Investments |
345 |
321 |
326 |
|
Assets |
1,434 |
1,413 |
1,445 |
Currency
The main currency exposures4 of the portfolio are as follows:
|
Currency |
|
|
28.02.25 |
31.05.25 |
31.08.25 |
|
USD |
|
|
55% |
68% |
54% |
|
GBP |
|
|
27% |
3% |
4% |
|
AUD |
|
|
5% |
6% |
9% |
|
JPY |
|
|
4% |
8% |
12% |
|
SGD |
|
|
4% |
6% |
9% |
|
NZD |
|
|
2% |
3% |
4% |
4 Other currencies represent approximately 8% in aggregate. Numbers may not sum to 100% due to rounding.
17th September 2025
For Further Information
JPMorgan Funds Limited - Company Secretary
Telephone: 0800 20 40 20 or +44 1268 44 44 70
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