JPMorgan American Investment Trust : Change in Gearing Range
March 16, 2020 at 09:33 am EDT
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JPMorgan American IT PLC - JAM
Change in Gearing Range
Released 13:27 16-Mar-2020
RNS Number : 3057G
JPMorgan American IT PLC
16 March 2020
LONDON STOCK EXCHANGE ANNOUNCEMENT
JPMORGAN AMERICAN INVESTMENT TRUST PLC (the 'Company')
CHANGE IN GEARING RANGE
Legal Entity Identifier: 549300QNAI4XRPEB4G65
The Board of JPMorgan American Investment Trust plc announces a change in the Company's gearing range effective from 16th March 2020.
The Company has a strategic gearing level of 10%. As announced on 27th February 2020 it has operated with a tactical gearing level of 10%, plus or minus 2%. In the light of current volatile market conditions, the Board has decided that while the tactical gearing level will remain unchanged at 10%, the permitted range around this level will be widened from plus or minus 2% to plus or minus 4% meaning gearing may vary between 6% and 14%.
There is no change to the Company's available borrowing facilities or to the gearing policy which is to operate within the range of 5% net cash to 20% geared in normal market conditions.
16th March 2020
For further information, please contact:
Richard Plaskett
Alison Vincent
JPMorgan Funds Limited - Company Secretary
Telephone 0207 742 4000
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JPMorgan American Investment Trust plc published this content on 16 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 March 2020 13:32:08 UTC
JPMorgan American Investment Trust plc is a United Kingdom-based closed-ended investment company. The Company's investment objective is to achieve capital growth from North American investments by outperformance of the Companyâs benchmark. It aims to outperform a benchmark, which is the S&P 500 Index, with net dividends reinvested, expressed in sterling terms. The Company predominantly invests in quoted companies including, when appropriate, exposure to smaller capitalization companies, and emphasize capital growth rather than income. The Company's gearing policy is to operate within a range of 5% net cash to 20% geared in normal market conditions. It invests in sectors, including information technology, financials, consumer discretionary, health care, industrials, real estate, communication services, energy, materials, consumer staples and utilities. The Company's alternative investment fund manager is JPMorgan Funds Limited (JPMF).
JPMORGAN AMERICAN INVESTMENT TRUST PLC 
