Jupiter Emerging and Frontier Income trust board proposes reforms to redemption facility to 'limit' future outflows

30% of JEFI's shares redeemed in 2021

The board of the Jupiter Emerging and Frontier Income trust (JEFI) has proposed changes to the trust’s redemption facility to “limit the scale of future outflows” and said it intends to put a resolution to shareholders in connection with the continuation of the company, with the recommendation that they vote in favour of continuation.

Following a shareholder consultation regarding JEFI's redemption facility, the board is proposing that it be amended "so that it is offered every three years, next to occur in June 2024; and that the maximum number of redemption requests that may be accepted at each redemption event will in aggregate be 20% of the company's outstanding ordinary share capital". AIC launches free guide to investment companies John Scott, chairman of JEFI, said: "When the Covid-19 pandemic struck in 2020, the markets into which JEFI invests were particularly badly affected, being quick to fall and slower...