Jpmorgan Global Core Rea... Share Discussion Threads

[adamb1978] 30/4/2021 10:20

I hold it in my income account. I have a rule that when something falls 20% then I either sell or double down. I'm not at that point yet, but would probably invest more if we got there given this is trading around NAV now

[biffa58] 30/4/2021 10:13

This must be one of my worst investments . Biden announcing infrastructure spending but no effect on this . Wondering when to cut losses .

[gary38] 05/2/2021 18:50

Nice profit in only 2 days,Thanks Jara.

[rgoodtimes] 31/1/2021 21:52

Are we well overdue an update on the C shares? This was supposed to be a relatively low risk future income play - but instead zero information and I’m watching the value of JARA tick down with no recourse for action.

[raptor_fund] 20/1/2021 13:29

Why expect the NAV to increase? It predominantly holds real estate (some of it probably core office bought before covid) and also holds things like transport (but that was mainly added after the onset of Covid). It's weird they haven't given a proper break down of assets yet.

[tommygriff] 12/1/2021 22:47

It's a hold for me but kind of expected the share price to have advanced further even with Covid.I thought it would have been one of the safer funds.

[jonwig] 12/1/2021 14:17

It has, and they don't give us the information to decide why.

[jonwig] 19/11/2020 20:31

The HY results were issued at 1 pm today - that's poor form! https://www.investegate.co.uk/jpmorgan-global-core--jara-/rns/half-year-results-2020/202011191300019118F/ Performance limited by currency movements. Dividend paid despite cash outflow. Not a single individual investment mentioned anywhere (nor in an earlier factsheet) even though some of its holdings are listed. On the basis of this, I don't feel inclined to add to my holding.

[jonwig] 17/11/2020 14:45

Adam - yes. put it another way, the exercise is fair! My broker closes on 30/11. Plenty of time, but I'd have liked to have seen the promised results by now.

[adamb1978] 17/11/2020 14:42

Jonwig So assuming the C shares vs ords normalise via the conversion mechanism then the trade off seems to be: via ords: you get a higher dividend sooner C shares: you save on stamp study and dealing costs So, ignoring how the share price might move on payment of its divi, its a straight calculation between the two to see which is better? Adam

[adamb1978] 16/11/2020 08:14

Thanks Jonwig. I assumed it had something to do with the premium to NAV, however hadnt wade through the conversion ratio mechanics in the prospectus. Appreciate the reply Adam

[jonwig] 16/11/2020 07:21

No H1 announcement yet. C shares vs Ord shares? Some cos do one, some the other. Ords is simpler and cheaper for them. C is fairer. The ords stand at a premium to their net assets. The Cs are just cash, and so don't have the same assets. Once the cash is deployed, the two classes can be merged, but it's fairer to do this by comparing NAVs than share price. If a co issues new ords, the existing ords usually fall in price towards the new price, to reflect the disadvantage.

[adamb1978] 15/11/2020 19:54

Hello all Anyone know why the upcoming share issue is being done via C shares rather than straight into ords? Does anyone also have a view on whether its best to buy into this via the C share programme or buying shares in the market? Am in the process of wading through the convoluted conversion mechanics, though I assume when I have done so it'll make them equal in value. Thanks Adam

[jonwig] 14/11/2020 11:40

Adam - will come back to you on Monday (assuming results then). Investments are largely PE style, so they should have an idea of returns expected. We can then only evaluate after the event!

[adamb1978] 14/11/2020 11:01

Hi Jonwig I stumbled upon this at the end of last week. Question for you - how do you find evidence of their ability to meet those objectives? for an operating business, doing some due diligence is easier but for an investment fund, unless you can find expected returns for the underlying asset classes, I think its difficult. So then it comes down to the manager's brand, reputation plus fee levels etc. I'd be interested to hear how you find the evidence which you're looking for. thanks Adam

[jonwig] 14/11/2020 07:03

tommy - to subscribe, I'd need to be confident that the shares can continue to trade at a decent premium to nav. The 30/09 nav is surely out of date: say it's now 95p and for the fully-invested C shares it's 99p. Then conversion would be 104 new ords for every 100 C shares. I'd need to do a bit more research before committing, but I wouldn't want many. I don't have a target price as such, but I do look for evidence of: The Company aims to provide investors with a long-term target NAV return of 7 - 9 per cent. per annum once fully invested, inclusive of a dividend yield of 2 - 3 per cent. in respect of the first year following listing, increasing to 4 - 6 per cent. per annum once the Company is fully invested. The HY results are due on or around 16 Nov, so I'll be looking at those before I decide.

[tommygriff] 13/11/2020 21:51

What's your thoughts Jon things going to plan? What's your target price over next 3 years

[jonwig] 13/11/2020 15:53

Intention to issue 'C' shares at 100p. Latest NAV is 91p at 30/09. Intention: https://www.investegate.co.uk/jpmorgan-global-core--jara-/rns/intention-to-issue-equity---c-share-capital-raise/202011061200075472E/ Prospectus: https://www.investegate.co.uk/jpmorgan-global-core--jara-/rns/publication-of-a-prospectus/202011101615018867E/

[jonwig] 20/10/2020 20:08

Summary of progress: https://www.trustintelligence.co.uk/investor/articles/fund-research-investor-jpmorgan-global-core-real-assets-retail-oct-2020

[jonwig] 05/5/2020 06:21

Yes, they said they would be in the 23/04 Dividend Declaration and Update RNS.

[tommygriff] 04/5/2020 22:38

Hopefully JARA have put some of the cash to work in the downturn

[steve c1] 18/3/2020 09:30

Yes i agree and they are holding a lot of cash ready to deploy.

[tommygriff] 28/2/2020 12:52

Anyone received there dividend yet?

[boxster rob] 23/1/2020 10:30

The IPO will be complete 18th July 2020 or when 1bn shares have been issued which may be earlier than that date.