Edison Investment Research - JPMorgan Global Growth Income PLC (JGGI) JPMorgan Global Growth Income - JPM Elect merger strengthens investment case

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Edison Investment Research

Pedro Fonseca

JPMorgan Global Growth & Income - JPM Elect merger strengthens investment case

JPMorgan Global Growth & Income (JGGI) yesterday 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 £330m, to £1.64bn, 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.

28/10/2022 1 EN

Underlying

JPMorgan Global Growth & Income PLC

JPMorgan Global Growth & Income is an investment trust company. Co.'s business is investing in financial assets with a view to profiting from their total return in the form of income and capital growth. Co. invests in a diversified portfolio of companies. Co. manages liquidity and borrowings to increase potential sterling returns to shareholders. Co. is managed by JPMorgan Funds Limited. As of June 30 2017, Co. had total investments of £401.0 million.

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GB00BYMKY695 London Stock Exchange United Kingdom

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Pedro Fonseca

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JPMorgan Global Growth & Income - JPM Elect merger strengthens investment case

JPMorgan Global Growth & Income - Income and outperformance in uncertain times

JPMorgan Global Growth & Income - Stock selection skills delivering strong performance

Sylvania Platinum - Annual guidance maintained, despite strike

1Spatial - Investing in the transformational SaaS opportunity

Datatec - FY24 underlying EPS more than doubles y-o-y

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