JP Morgan Japanese trust to acquire £144m in assets from JSGI after merger approval

Cash option oversubscribed

JP Morgan Japanese (JFJ) will acquire around £144m of assets from the Japan Small Cap Growth & Income (JSGI) trust, after the latter's shareholders approved the merger.

With a total 99.6% of the votes in favour of the deal, JFJ will acquire £144.3m of assets from JSGI, in consideration for issuing 23.3 million in ordinary shares related to the merger. The deal was first announced in July, when JP Morgan said it would merge the two strategies into one all-cap portfolio with assets under management of the combined vehicle set to surpass £1bn. Largest Japanese equity investment trust prepares merger to create £1bn portfolio At a general meeting on Thursday (24 October), around 39% of JSGI's share capital representing slightly over 21.1 million shares...