Titherington to lead JPM GEM Income launch

J.P. Morgan is preparing to launch a Global Emerging Markets Income investment trust at the end of July for CIO and head of emerging markets Richard Titherington.

The trust will aim for both capital growth and income, with a yield target of 4%, through a portfolio of 50 to 70 emerging market equities, primarily mid caps. It will be benchmarked against the MSCI Emerging Markets TR Net index (GBP). JPM is targeting £50m of assets for the trust, with an overall limit of £200m. The offer period runs from 28 June to 21 July. Titherington says investors should consider developing markets for income in an environment where UK dividends are shrinking and there is concern over companies such as BP suspending their dividend altogether. “Most people...