Jpmorgan Glbl E Regulatory News (JARE)

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN GLOBAL CORE REAL ASSETS LIMITED

QUARTERLY NET ASSET VALUE AND UPDATE

Legal Entity Identifier: 549300D8JHZTH6GI8F97

JPMorgan Global Core Real Assets Limited ("JARA" or "the Company") announces the unaudited Net Asset Value ("NAV") as at 31st August 2020 of 90.99 pence.

Positive returns from the Company's liquid real asset strategies (circa 20% of NAV) over the quarter assisted performance; the listed real asset beta strategy (circa 10% of NAV) delivered a total return of +0.6% and the U.S. all-tranche REIT strategy (circa 10% of NAV) delivered a total return of +5.8%. The private U.S. Real Estate strategy1 (circa 20% of NAV) was a negative contributor as the impact of COVID-19 was felt in the quarter, making calendar YTD returns roughly flat for this strategy. The Company's NAV return was negatively impacted by the 7.3% depreciation of the US dollar versus sterling over the quarter.

 1 Latest performance statistics as at 30th June 2020

Investment Progress

The Company has so far invested approximately 56% of the net proceeds arising from its IPO which, since the Company has subsequently raised further capital, represents 40% of the total funds raised to date. Recent volatility in financial markets has meant capital has been drawn down at a slower rate than originally intended. However, the Company expects to receive drawdown notices from a number of the private funds in the coming weeks, meaning JARA is on course to have its IPO proceeds close to fully invested (in line with the stated initial portfolio in the Prospectus) at or around 12 months from IPO. As previously stated, the Board believes that the slower rate of investment will not impact the Company's long term total return assumptions and may in fact provide a benefit.

The Company aims to provide holders of the Ordinary Shares with a 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 is seeking 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 has the primary responsibility for managing the Company's portfolio.

Income

Income generated from the underlying portfolio was 0.43 pence per share over the period, arising from its investment in cash equivalent instruments and the liquid strategies, along with a distribution from the underlying private property strategy. JARA has delivered on its first year income target of 2-3 pence per share, having paid 2.15 pence per share in the first three dividends and management is confident in delivering the second full 12 month income target of 4-6 pence per share.

Issuance

During the period the Company issued 7,492,000 new shares and the period ended with 208,807,952 shares in issue.

Currency

The main currency exposures of the portfolio (including liquidity funds) are:

10th September 2020

Alison Vincent

JPMorgan Funds Limited - Company Secretary

Telephone 0207 742 4000