Increased liquidity, more thinly spread costs and a reduced total expense ratio are the promises hel...
Increased liquidity, more thinly spread costs and a reduced total expense ratio are the promises held out by the board of JPMorgan Fleming Chinese Investment Trust, which is seeking shareholder agreement to issue new shares to cut the fund's current 5.6% premium. Shares in the trust have jumped from a low of 33.5p in late March, when investments in China were ravaged by Sars, the flu-like illness. Since then the recovery has sent shares up to 58p, while the net asset value has gone from 42p on 12 March to more than 55p currently. Premiums to NAVs are best avoided in the...
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