Last checked at 9 Dec 2019 10:53
LONDON STOCK EXCHANGE ANNOUNCEMENT
JPMORGAN GLOBAL CORE REAL ASSETS LIMITED
NET ASSET VALUE AND UPDATE
Legal Entity Identifier: 549300D8JHZTH6GI8F97
JPMorgan Global Core Real Assets Limited announces the unaudited Net Asset Value ("NAV") as at 30th November 2019.
The net asset value per share, including income was 95.5 pence, a return over the period of -3.6% from 30th September 2019. The positive performance of the liquid portion of the NAV was offset by the appreciation of Sterling versus the Dollar and Euro of circa. +5.0% and +3.8% respectively.
Currency
The top 10 currency exposures are:
Currency | % of NAV |
USD | 92.84% |
EUR | 1.9% |
JPY | 1.4% |
CAD | 1.1% |
GBP | 0.9% |
AUD | 0.6% |
SGD | 0.5% |
HKD | 0.4% |
CHF | 0.1% |
NZD | 0.1% |
Committed capital awaiting drawdown into the underlying private strategies is held in USD money market instruments.
Investment
Over the period and in line with the proposed portfolio as outlined in the prospectus, JARA invested into two liquid segregated mandates for circa. 20 per cent. of NAV and as per the announcement from 29th October 2019, 19.5 per cent. of NAV was drawn down into one of the underlying real estate strategies, bringing JARA's investment to near 40 per cent. of the Company's initial proceeds. The Company remains on track to have 80 per cent. of its proceeds invested within six months of launch, with all net initial proceeds invested within 12 months.
Once fully invested, the net proceeds of the Issue will be invested with the view of providing holders of the Ordinary Shares with 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 will initially seek 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 will have the primary responsibility for managing the Company's portfolio.
Income
Income generated from the underlying portfolio was 32bps over the period, arising from its investment in cash-like instruments and the liquid strategies. JARA remains on course to deliver on its first year income target.
Issuance
During the period there were 11,689,908 new shares issued, ending the period with 160,664,797 shares in issue.
9th December 2019
Alison Vincent
JPMorgan Funds Limited - Company Secretary
Telephone 0207 742 4000