Last checked at 1 Feb 2024 13:32
LONDON STOCK EXCHANGE ANNOUNCEMENT
JPMORGAN AMERICAN INVESTMENT TRUST PLC (the 'Company')
RETIREMENT OF GROWTH PORTFOLIO INVESTMENT MANAGER
On 13th July 2022, the Company announced that it had been informed by its Manager, JPMorgan Funds Limited (the 'Manager'), that Mr Timothy Parton, one of the Company's Large Cap Portfolio Managers, would retire in early 2024. The Company has now been advised that Mr Parton's retirement will be effective 1st March 2024. Ms Felise Agranoff and Mr Jonathan Simon remain responsible for the growth and value stocks respectively in the Large Cap portfolio. As a result, there will be no changes to the Company's investment process and investment objective.
Ms Agranoff, who has 20 years' experience with the Manager, was appointed as a Portfolio Manager of the Company with effect from 23rd August 2022, with the intention that she would become the sole Portfolio Manager responsible for the growth stocks in the Large Cap Portfolio upon Mr Parton's retirement. Ms Agranoff has worked alongside Mr Parton on a number of the Manager's flagship funds for a number of years. Mr Simon, who joined the Manager in 1980, was appointed as a Portfolio Manager of the Company on 1st June 2019 and is responsible for the value stocks in the Large Cap Portfolio.
The Chairman of the Company, Dr. Kevin Carter, commented:
"On behalf of shareholders in JPMorgan American Investment Trust plc, I would like to wish Tim a happy and well-deserved retirement. Alongside Jonathan and Felise, the Company's Portfolio Managers have generated impressive returns for shareholders, successfully navigating the challenging market conditions of the last few years. Tim leaves the Company's Large Cap portfolio in very safe hands, with Felise and Jonathan a proven team in pursuing their complimentary growth and value investment approach to US equities."
1 February 2024
For further information, please contact:
Priyanka Vijay Anand
For and on behalf of
JPMorgan Funds Limited - Company Secretary
0800 20 40 20 (or +44 1268 44 44 70)