JP Morgan European to merge growth and income share classes

Too complex

Kathleen Gallagher
clock • 2 min read
JP Morgan European trust looking to merge share classes
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JP Morgan European trust looking to merge share classes

Following a review of the JP Morgan European trust the board has decided that its dual share class structure is “unnecessarily complex and potentially presents a hurdle to those looking to invest”.

JP Morgan European's two share classes consist of a £330.8m growth share class and a £166.1m  income share class. The board is now recommending a combined roughly £500m single share class whose objective and investment policy will reflect the current growth share class. The growth share class, which is trading on a 10.6% discount, provides capital growth and a rising share price over the longer term from continental European investments. However, if consolidation is successful the board will also introduce an "enhanced income strategy" to target a dividend of 4% per annum based on ...

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