The £740m JP Morgan Global Growth & Income trust (JGGI) has completed its merger with the £592.2m Scottish Investment trust (SCIN), creating a combined entity worth over £1.3bn.
The merger was proposed in October last year, following a 'strategic review' of the portfolios. The combination of the trusts - both over 135 years old and some of the oldest investment companies in the sector - marks the second largest merger of two independent investment trusts to date. Scottish Investment trust proposes merger with JPMorgan trust Tristan Hillgarth, JGGI chair, said that today's news represents "an exciting milestone for both groups of shareholders, who should benefit from greater scale, enhanced liquidity and competitive fees of the trust". "JGGI, which rec...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
