At an EGM of shareholders held on 23 November 2022 the resolution to segregate the illiquid assets of the Fund by transferring the liquid assets, in specie, to a newly created Fund, namely, the JPMorgan Fund ICVC – JPM Emerging Europe Equity II Fund (the “Receiving Fund”), whilst retaining the illiquid assets within the Fund as set out in a letter dated 24 October 2022 and addressed by JPMorgan Funds Limited to shareholders in the Fund was approved. The changes will be effective from 9 December 2022.
Important Information
• On 9 December 2022 you will receive shares in the new fund, JPMorgan ICVC Emerging Europe Equity II Fund, on a 1:1 basis e.g. if you held 1,000 shares in the JPM Emerging Europe Equity Fund you will receive 1,000 shares in the new JPM Emerging Europe Equity II Fund.
• You will be able to trade in the JPMorgan ICVC Emerging Europe Equity II Fund from the 12 December 2022.
• A daily NAV/price for the JPM Emerging Europe Equity II Fund will be published from 12 December 2022 – via the usual channels.
• An indicative NAV/Price for the suspended JPM Emerging Europe Equity Fund will be available on the JPMAM website on 12 December 2022 which will allow you to estimate the value of the Impacted fund holding after the Transfer. An indicative NAV/Price is JP Morgan Asset Management’s estimate of the value of the fund’s assets considering the investment manager’s inability to trade Russian assets both onshore and offshore, lack of relevant price discovery and market uncertainty. Please note this is not an official NAV/Price, the official NAV/Price calculation is still suspended, and you cannot subscribe to or redeem from the Fund.
• Shareholders will receive a letter confirming the shares they have received in the Receiving Fund and confirmation of the shares they continue to hold in the Impacted Fund. This will be sent in the week commencing 12 December. This information will also be available via DOLR for those with access on 12 December 2022.