Jpmorgan Multi-asset Gro... Share Discussion Threads

[mwj1959] 24/1/2024 15:06

It won't exist much longer! JGGI continuing to hoover up other JPM closed end assets before anyone else gets their hands on them. JARA is the next JPM fund in the firing line, trading at a c.25% discount and a continuation vote later in the year. Complicating factor here is the 85% in private collective vehicles.

[mwj1959] 25/11/2023 17:28

This delivers a dividend less than cash, has seen no NAV growth (ex income) and is sub-optimal in terms of size. Little reason for it to exist in my opinion. The problem is that there is no continuation vote until 2028.

[cerrito] 14/10/2021 12:09

Another publicity item.
I will try and listen.
I inherited these from a holding in a split income fund and do not pay them the attention they deserve.
I went to their2019 AGM and hopefullycan go to their 2022 AGM.

[jonwig] 10/10/2021 20:01

Pretty comprehensive summary:

[orinocor] 12/4/2021 11:20

This has been fantastic but I've switched into Blackrock Income and Growth which is on a 13% discount now.

[jonwig] 24/3/2021 06:49

Unless I missed something, it can only be the rvised dividend policy which caused the re-rating. I'm actually a bit surprised, as payment of uncovered dividends is a bit dubious to me.
Even so,the discount was excessive.

[cerrito] 23/3/2021 22:11

Good to see the relatively new Chair's initiatives have been well received by the market.
I have only just this evening stumbled onto this thread. I got these as a rollover of one of the JPM zeros some years back-and for this reason I also hold JPEI for which I see there is no thread.
I went to the 2019 AGM where the dream was to narrow the discount to do an equity raise so that the fund's size can be worthwhile.
I did sell half of the holding I had inherited from the zero but truth be told do not pay it much attention. The spread and the discount have always discouraged me from selling more and never had much enthusiasm to buy more.
Now that I know there is a thread and the board is being more adventurous, I will try and spend more time on it.

[orinocor] 23/3/2021 18:37

happy days

[aspringo] 12/3/2021 18:03

Been in this now since 28 jan 2020.Purchase then 15k at 102.5, nav at the time 107.7 ish I believe.Hopefully based on the discounts back then we may finally get some upside in this.Or maybe not, good luck all.

[orinocor] 12/3/2021 11:41

NAV 105.4p

[orinocor] 15/2/2021 20:18

NAV is 104p. Ignore the spread shown by advfn I bought more today at 89.28p.
14% discount.

[orinocor] 15/2/2021 20:16

15/02/2021 4:14pm
UK Regulatory (RNS & others)

TIDMMATE

RNS Number : 1571P

JPMorgan Multi-Asset Trust plc

15 February 2021


JPMORGAN MULTI-ASSET TRUST PLC (the
'Company')
Legal Entity Identifier: 549300C0UCY8X2QXW762
THE COMPANY ANNOUNCES THE TEN LARGEST
INVESTMENTS IN % OF TOTAL ASSETS As
at: 31 January 2021
JPMorgan Global High Yield Bond Fund 14.8%
US 10YR (New Style) Bond Commodity (Future) 11.3%
MSCI EMGMKT (New Style) Index Equity
(Future) 9.1%
Infrastructure Investments Fund 8.4%
JPMorgan Emerging Markets Debt Fund 4.3%
E-MINI RUSS 2000 (New Style) Index Equity
(Future) 4.1%
JPMorgan Income Fund 3.5%
AUST 10Y (New Style) Bond Commodity
(Future) 2.5%
Coca-Cola 2.4%
Iberdrola 2.3%
----------------------------------------------- ------
Total 62.7%

[orinocor] 15/1/2021 16:37

JPMorgan Multi-Asset Trust plc
15 January 2021
Legal Entity Identifier: 549300C0UCY8X2QXW762
THE COMPANY ANNOUNCES THE TEN LARGEST
INVESTMENTS IN % OF TOTAL ASSETS As at: 31 December 2020

JPMorgan Global High Yield Bond Fund 14.2%

US 10YR (New Style) Bond Commodity (Future) 11.0%

MSCI EMGMKT (New Style) Index Equity (Future) 9.7%

Infrastructure Investments Fund 8.1%

AUST 10Y (New Style) Bond Commodity(Future) 4.9%

JPMorgan Emerging Markets Debt Fund 4.2%

E-MINI RUSS 2000 (New Style) Index Equity (Future) 3.7%

JPMorgan Income Fund 3.4%

Coca-Cola 2.6%

Iberdrola 2.3%
----------------------------------------------- ------
Total 64.2%

[orinocor] 15/1/2021 16:36

Edging up. Bid 88p.
NAV 104.1p

[orinocor] 14/1/2021 17:00

Look at the historical discount. It was 5% pre-pandemic and has grown to 14% now.

hxxps://www.hl.co.uk/shares/shares-search-results/j/jpmorgan-multi-asset-trust-ordinary-shares

[orinocor] 14/1/2021 15:57

I bought more today at 88.9p. The 14% discount is reason enough but another excuse is Taiwan Semiconductor is up 10% today and that is one of the bigger holdings at 3.6%

[orinocor] 08/1/2021 15:42

Good info there jon. Discounts closing all over the place but with Mate its widening .
net assets value is now up to 103.6p

[jonwig] 08/1/2021 12:32

orinocor - yes, I was able to but at 88.57p yesterday, too. The discount just seems too extreme. I've checked something which I'd forgotten (the mgt fee is 0.65% of NAV):

Any investments made through funds managed by J.P. Morgan Asset Management will be made
(where available) in non-management fee bearing share classes. Where a non-management fee bearing share class is not available, the investment will be made through the lowest institutional fee bearing share class available. In these circumstances the management fees payable by the Company will be reduced by an amount equal to the management fee charged by such share class. For the avoidance of doubt, performance fees payable on any such investments shall be excluded from such fee offset and will be payable by the Company.

It's mostly a fund-of-funds, so there's no double charging.

[orinocor] 07/1/2021 12:24

I'm buying this multi asset investment trust at just 88.5p despite what advfn is showing. Buy now well within the spread and in fact below the mid price!
Net assets value of 103p so that's a whopping 14% discount

[aspringo] 22/7/2020 15:23

Just for info, I have never had this before, bought at 83.45, could have sold straight away, put in a dummy sell and offered 83.48.Ok not a money maker but on this trust its always been quite a large spread.Got loads now, so I hope these know what they're up to. ?

[aspringo] 25/3/2020 16:18

My last word on it as who knows whats going to happen in this crazy market.I also took some heart in a directors buy.Though they make mistakes, she bought220,000 in 2 tranches.Again, good luck in stressful times.

[jonwig] 25/3/2020 14:36

aspringo - interesting, thanks.

I haven't invested, but the exposure to almost every asset class (index-linked?? dunno) is attractive. Charges are about 1% on top of internal charges.

Spread is savage at the moment: 72-77, but in reality 72-75.6.

[aspringo] 25/3/2020 14:31

Agree. I've been in now at all levels. Buying 5 grand chunks, down still 20%.Been on to JP s out positioning of portfolio for covid issues but not heard.NAV down a lot from high but seems to have stabilised.Will have another but bigger portion if it drops further and NAV holds up as good value.Best of luck to all.Mine is my pension, do hoping income holds up.Cheers all

[jonwig] 25/3/2020 07:16

Yield 5.5% and discount about 13% with a truly global asset mix might make this interesting.