TIDMJGGI

JPMorgan Global Growth & Income PLC

25 October 2021

London, UK, 25 October 2021

Edison issues review on JPMorgan Global Growth & Income (JGGI)

The board of JPMorgan Global Growth & Income (JGGI) has announced that it has signed heads of terms with the board of Scottish Investment Trust (SCIN) in respect of a proposed combination. Following the transaction, JGGI's assets would total at least GBP1.2bn. This announcement follows a review of SCIN's investment management arrangements undertaken by its board after a period of underperformance, which was due at least in part to its contrarian and value bias. SCIN's board selected JGGI because of its style-agnostic investment strategy, which focuses on stocks with both attractive growth and value attributes. The decision is no doubt also a reflection of JGGI's strong performance; it has delivered strong absolute returns and outperformed its benchmark over both the short and long term. JGGI's dividend policy, which pays a dividend equal to 4% of NAV at the end of the previous financial year, will remain unchanged. The fund estimates that the ongoing charge will fall by 11bp. Subject to approval by both JGGI and SCIN shareholders, and the debt holders of both trusts, the transaction is expected to complete in Q122.

JPMorgan Global Growth & Income aims to provide superior total returns and outperform the MSCI AC World index (in sterling terms) over the long term by investing in companies based around the world, drawing on an investment process underpinned by fundamental research. JGGI makes quarterly distributions, set at the beginning of each financial year, with the intention of paying a dividend equal to at least 4% of NAV at the end of the preceding financial year.

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