LONDON: The Board of JPMorgan Global Core Real Assets Limited has decided to propose a managed wind-down of the company, which they believe is in the best interests of all shareholders.
To implement the managed wind-down, shareholder approval is required to amend the company’s investment objective and policy.
Detailed proposals, including the timeline for asset sales, will be shared in a circular to shareholders as soon as possible.
Once the necessary approvals are obtained, the company will begin an orderly realization of its assets, with the Investment Manager handling redemption requests for the relevant underlying private funds.
The Investment Manager estimates that 50-60% of the company’s portfolio could be liquidated by the end of the second quarter of 2025, with the remaining redemptions expected to be completed over the following twelve months.
However, this timeline is not guaranteed and depends on the liquidity provided by the underlying private funds and market conditions. The proceeds received by the company will be based on the net asset value of the underlying vehicles at the time each redemption is settled.
In addition to private fund assets, the company has about 15% invested in listed real assets and other easily realisable liquid securities. If the managed wind-down is approved, these listed assets will be sold, and the capital returned to shareholders.
The Board and EJF expressed their gratitude to the interim Chair, Alan Dunphy, who will continue as a Non-Executive Director. The proposed wind-down aims to ensure an orderly process that maximizes shareholder value.