JP Morgan intends to raise further capital for its global emerging markets income trust through an issue of conversion shares.
The C-share offer is designed to meet demand from inves-tors seeking income from emerging markets. JP Morgan says that interest in the trust has been strong since its launch last July.
Managed by chief investment officer Richard Titherington, the trust seeks to deliver a yield above that of the FTSE All Share index and a progressive dividend.
The prospectus for the C-share issue will be avail- able from early March and the offer period will be open for investors throughout the current Isa season and also for early 2011/12 Isa applications. The offer will close in mid-April.
Hargreaves Lansdown inv-estment manager Ben Yearsley says: “JP Morgan is obviously benefiting from the popul- arity of emerging markets investments at this time in a similar way to Fidelity and its investments trust for China.”