JPMorgan Global Core reports NAV decrease as wind-down progresses

JPMorgan Global Core Real Assets Ltd on Friday released its financial results for the six months ended August 31 as its managed wind-down continues, although it has no plans for an imminent delisting.

The investment company’s net asset value as of August 31 was 93.5 pence per share, down from 94.9p six months prior. Its NAV return was minus 1.5%, which it said was mainly due to the adverse impact of the weakening of the US dollar against the pound.

Shares in JPMorgan Global Core Real Assets were down 1.1% at 76.84p in London on Friday afternoon.

JPMorgan Global Core, which has assets in global infrastructure, transportation and real estate, noted that it made its first compulsory partial redemption of shares on February 28, returning approximately £33.7 million to shareholders, followed by a second redemption worth approximately £85 million on August 8. In total, it said it returned 95.6 million shares for cancellation at 89.12p each.

The company said it has now liquidated its holdings in Mezzanine debt strategies and listed real assets, apart from ‘a small holding in Home REIT PLC’, and most of its holdings in the infrastructure and transportation strategies.

JPMorgan Global Core said the board continues to monitor the costs of operating the company in its current form, and that its listing will be maintained only for so long as the directors believe it to be cost-effective and in the interests of shareholders.

‘We have no plans for an imminent delisting, but we will review this option again at the end of 2026,’ the company added.

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