JPMorgan Global Growth & Income PLC Edison flash on JPMorgan Global Growth & Income

TIDMJGGI

JPMorgan Global Growth & Income PLC

31 October 2022

London, UK, 31 October 2022

Edison issues flash on JPMorgan Global Growth & Income (JGGI)

JPMorgan Global Growth & Income (JGGI) on Thursday announced that it has signed heads of terms with the board of JPMorgan Elect (JPE) in respect of a proposed merger with JPE, which will see assets transferred to JGGI. This merger follows JGGI's well-received combination with Scottish Investment Trust, which was finalised in August this year. It will further increase JGGI's assets under management by over GBP330m, to GBP1.64bn, making it one of the UK's largest investment trusts and a leading investment vehicle for global equity, which also offers a relatively attractive dividend (currently 3.9%). Subject to the approval of the shareholders of both JGGI and JPE, and regulatory and tax clearances, it is expected the merger will be completed by the end of the calendar year.

In our view, this merger appears to strengthen the already robust investment case for JGGI by enabling JGGI shareholders to benefit from greater economies of scale arising from an enlarged asset base, including greater liquidity in JGGI shares, and cost efficiencies.

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