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Share Name Share Symbol Market Type Share ISIN Share Description
Jpmorgan Global Core Real Assets Limited LSE:JARU London Ordinary Share GG00BJVKW831 ORD NPV (USD)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 1.2275 1.155 1.30 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - - 0

JPMorgan Global Core Real Assets Ld Quarterly Net Asset Value and Update

24/12/2020 7:00am

UK Regulatory (RNS & others)


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RNS Number : 7445J

JPMorgan Global Core Real Assets Ld

24 December 2020

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN GLOBAL CORE REAL ASSETS LIMITED

QUARTERLY NET ASSET VALUE AND UPDATE

Legal Entity Identifier: 549300D8JHZTH6GI8F97

JPMorgan Global Core Real Assets Limited ("JARA" or "the Company") announces an unaudited Net Asset Value ("NAV") as at 30th November 2020 of 91.37 pence. Over the period there was also a dividend of 0.75 pence, paid on 30th November 2020 to shareholders on the register as at the close of business on 30th October 2020, bringing total return over the period to +1.24%.

Positive returns from the Company's liquid real asset strategies (circa 20% of NAV) over the quarter assisted performance. The listed real asset beta strategy (circa 10% of NAV) delivered a total return of 8.1% and the U.S. all-tranche REIT strategy (circa 10% of NAV) delivered a total return of 5.9%. The private U.S. Real Estate strategy(1) (circa 19% of NAV) was a small negative contributor of -0.2%, making calendar YTD returns marginally negative for this strategy. The -0.29% depreciation of the US dollar versus sterling over the quarter delivered a small drag to performance.

(1) Latest performance statistics as at 30th September 2020

Investment Progress

The Company has so far invested approximately 99.5% of the net proceeds arising from its IPO and circa 74% of the total funds raised to date.

An update on the progress of the C-share and related timetable will be published in the New Year.

The Company aims to provide holders of the Ordinary Shares with a stable income and capital appreciation through exposure to a globally diversified portfolio of Core Real Assets in accordance with the Company's investment policy. The Company is seeking exposure to Core Real Assets through various real asset strategies, namely: Global Infrastructure, Global Real Estate, Global Transport and Global Liquid Real Assets. J.P. Morgan's Alternative Solutions Group has the primary responsibility for managing the Company's portfolio.

Income

Income generated from the underlying portfolio is estimated to be 0.77 pence per share, up from 0.43 pence per share over the previous period. The income derives from its investment in cash equivalent instruments, the Liquid Strategies, along with a distribution from the underlying Private Property Strategy and accrued income from the Transport and Infrastructure strategies over part of the period. JARA has delivered on its first year income target of 2-3 pence per share, having paid 3.0 pence per share in the first four dividends and management is confident in delivering the second full 12 month income target of 4-6 pence per share.

Issuance

During the period the Company issued no new shares, with 208,807,952 shares in issue.

Currency

The main currency exposures of the portfolio (including liquidity funds) are as follows and have diversified considerably since the last quarter end due to the drawdown into the other private strategies.

 
 Currency    % of NAV 
 USD            83.6% 
            --------- 
 EUR             7.0% 
            --------- 
 GBP             2.9% 
            --------- 
 CAD             1.7% 
            --------- 
 AUD             1.5% 
            --------- 
 JPY             1.5% 
            --------- 
 HKD             0.5% 
            --------- 
 

24th December 2020

Alison Vincent

JPMorgan Funds Limited - Company Secretary

Telephone 0207 742 4000

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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END

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December 24, 2020 02:00 ET (07:00 GMT)

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