JPMorgan Global Core Real Assets Ld Capital Call and C Share Capital Raise Update (7836N)
February 03 2021 - 1:00AM
UK Regulatory
TIDMJARA TIDMJARU TIDMJARE
RNS Number : 7836N
JPMorgan Global Core Real Assets Ld
03 February 2021
JPMORGAN GLOBAL CORE REAL ASSETS LIMITED
Capital Call and C Share Capital Raise Update
Legal Entity Identifier: 549300D8JHZTH6GI8F97
Capital Call
JPMorgan Global Core Real Assets Limited (the 'Company' or
'JARA') is pleased to announce that a further USD 35,518,000 of the
Company's committed capital has been called, with a funding date on
or around 16th February 2021. This capital will be invested into
J.P. Morgan Asset Management's Asia-Pacific Real Estate strategy.
This takes total capital invested to USD 229,580,805 or 91% of the
Company's net assets.
The Manager is pleased to highlight that much of this capital is
being utilised for investment primarily into Industrial / Logistic
assets, a sub-sector in which the Manager has high conviction
within real estate. JARA's logistics exposure will now be well
diversified across the US and several developed economies in the
Asia-Pacific region, such as Japan, New Zealand and Singapore. This
additional investment means JARA's Industrial / Logistics exposure
is now 14% which could increase further given the healthy pipeline
in this space. Following this capital call, JARA's top 10 sector
exposure is noted below:
Sector % of net assets
Industrial / Logistics 14%
----------------
Office 13%
----------------
Utilities 11%
----------------
Maritime 10%
----------------
Residential 8%
----------------
Retail 6%
----------------
Other Real Estate 6%
----------------
Renewable Energy 5%
----------------
Aviation 5%
----------------
Energy Logistics 4%
----------------
This significant capital call takes the Company to near full
investment. JARA's asset mix and income stream is now fully
diversified and we are pleased to see consolidated income remain
robust during the initial COVID crisis as well as the emerging
recovery phase. JARA will shortly be generating a run-rate level of
return on investment from the full complement of strategies,
supporting the Company's dividend announcement of 21st January
2021.
The remainder of the Company's cash will be invested in a range
of smaller top-up investments across Infrastructure, Transportation
and Asia-Pacific Real Estate as and when further capital is
called.
C Share Capital Raise Update
In light of the investment progress detailed in today's
announcement, and continuing discussion and due diligence with a
number of potentially significant investors, the Manager continues
to assess the optimal time for completion of the C Share. It is
expected that the C share will be progressed before the summer.
Further updates will be provided in due course.
3rd February 2021
Alison Vincent
JPMorgan Funds Limited - Company Secretary,
Telephone +44 207 742 4000
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