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JP Morgan Emerging Markets proposes performance-related tender offer
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investmentweek.co.ukIn its interim results for the second half of 2023 published today (23 February), the trust explained the tender offer will be triggered if its NAV total return cumulatively underperforms the MSCI Emerging Markets index over five years, from 1 July 2024 to 30 June 2029. In the second half of 2023, JMG bought back 1.3% of its own share capital at an average discount of 10.6%. However, no changes to its discount management will occur, Numis analysts Ash Nandi and Ewan Lovett-Turner explained. The analyst duo noted the fund has outperformed the benchmark over a five- and ten-year period ...
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