| Change Details | |
|---|---|
| Title | JPMorgan Mid Capital Investment Trust Plc |
| Type | Mergers |
| Companies Impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Effective Date | 27 February 2024 |
| 1. Asset details | |
| Companies impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Asset Group | JPMorgan |
| Asset Name | JPMorgan Mid Capital Investment Trust Plc |
| Type of change | Merger |
| Date merger effective from | 27 February 2024 |
| Deadline for investors to switch out if appropriate | 2:00 pm on 16 February 2024 |
| Is the event subject to shareholder approval? | Yes |
| 2. Merger details | |
| Name of the new asset (the asset that the previous asset is being merged into) | JPMorgan UK Smaller Companies Investment Trust Plc |
| Will the phasing option automatically continue? | Yes |
| Will the rebalancing option automatically continue? | Yes |
| Will ongoing direct debit payments automatically be redirected into the new asset? | Yes |
| 3. Asset objective | |
| Previous asset objective | Aims to achieve capital growth from investing in medium sized UK listed companies. The Company specialises in investment in FTSE 250 companies, using long and short term borrowings to increase returns to shareholders. The Company will focus on FTSE 250 stocks that deliver strong capital growth and it will have significant exposure to the UK economy with selective exposure to overseas earnings. It will seek out both value stocks and growth stocks, including AIM stocks, to deliver strong performance throughout the market cycle. It emphasises growth rather than income. Returns are principally determined by the performance of the investments made by The Company, although The Company has the ability to use borrowing to gear the portfolio within the range of 10% net cash to 20% geared in normal market conditions. Gearing may magnify gains or losses experienced by The Company. |
| New asset objective | The Company's objective is to achieve capital growth from UK listed smaller companies by out-performance of the Company's benchmark index, the Numis Smaller Companies plus AIM (excluding Investment Companies) Index and a rising share price over the longer term by taking carefully controlled risks. The company has the ability to use borrowing to gear the portfolio within the range of 10% net cash to 15% geared in normal market conditions. Gearing may magnify gains or losses experienced by The Company. |