New Investment Trust Launched by JPMorgan Fleming
JPMorgan Fleming has launched a new investment trust, JPMF Elect Investment Trust (JPMF Elect). Following shareholder approval, the new company has now been listed on the London Stock Exchange and trading in shares has begun. During the offer period, £27m was raised. JPMF Elect now presents investors with a tax-efficient structure which allows investors to hold up to three different share classes within the same trust with the option to switch between them as their needs change, according to JPMorgan Fleming. JPMF Elect enables its shareholders to achieve investment diversity and choice through three different share classes – Managed Growth, Managed Income and Managed Cash. Included in this structure is a half-yearly option to switch between these share classes without incurring a UK capital gains tax liability.