London Stock Exchange welcomes Jupiter Emerging & Frontier Trust PLC
Jupiter Emerging & Frontier Income Trust PLC is a best ideas, long-only investment trust, investing predominantly in quoted global emerging and frontier market equities and will differ from other current UK listed Global Emerging Market investment trusts. The Company has raised £90m in its IPO and the listing of its ordinary shares on the Main Market.
Jupiter Emerging & Frontier Income Trust is managed by Jupiter Asset Management Limited. The Company’s investment objective is to achieve capital growth and income, both over the long term, through investment predominantly in companies exposed directly or indirectly to emerging markets and frontier markets worldwide.
The Company will not be limited by its benchmark index and offers a new way for investors to draw on the experience and record of Jupiter in this sector. The Company’s combination of emerging and frontier markets exposure (frontier markets are typically smaller and less established than emerging markets, with frontier markets exposure limited to a maximum of 25 per cent. of total assets), and not being constrained by the benchmark in its investment approach, will enable it to invest in Jupiter’s best ideas from across a wider range of markets than would be typical for an emerging markets fund and is expected to enhance its diversification of risk.
Peel Hunt LLP acted as sole sponsor, placing agent and intermediaries offer adviser. Stephenson Harwood LLP provided legal advice to the Company.
Commenting, John Scott, Chairman of Jupiter Emerging & Frontier Income Trust PLC, said:
“I am delighted that the launch of the Company has succeeded in attracting subscriptions to the extent of some £90 million. This is an excellent result, achieved at a time of political uncertainty and consequent turbulence in capital markets. It is an endorsement of the investment strategy set out by the Jupiter team led by Ross Teverson.”
Ross Teverson, of Jupiter Asset Management, commented:
"We believe that this is a differentiated investment trust proposition, offering diversified multi-cap exposure to our high conviction stock ideas from across emerging and frontier markets, while also generating an attractive yield for investors. We are very encouraged by the strong support that this investment trust launch has received from a broad range of clients."