JPMorgan Asset Management launches new trust

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JPMorgan Asset Management launches new trust

Fri 10th Nov 2006

JPMorgan Asset Management has introduced a new investment trust to take the place of the current JPMorgan Fleming Income & Growth Investment Trust.

JPMorgan Income & Growth Investment Trust will run until November 30th 2016 and is designed in order to offer customers an annual dividend of 4.1 per cent net.

Any customers with an existing trust will be entitled to roll the funds over into the new JPMorgan Income & Growth Investment Trust and the potential exists for capital growth and a rise in income.

David Barron, head of investment trusts at JPMorgan Asset Management, said: "We believe that well-managed, well-structured split capital investment trusts hold appeal in the investment community. Despite the difficulties encountered by the split capital sector, there remain split capital trusts that perform for their investors."

Both capital and income shares will be made available to customers and the first financial year is expected to give a return of 4.1 per cent on capital, with the income shares returning six per cent net dividends.

JPMorgan Asset Management is part of JPMorgan Chase and the company has financial experience amounting in excess of 150 years.

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