The new JPMorgan Income & Capital trust will launch on Monday with £108.3m raised.
A split cap roll-over from the JPMorgan Income & Capital investment trust, the firm says elections and applications under the placing and offer for ordinary shares and units in the new vehicle have been fully satisfied.
JPMorgan says the zero dividend preference shares have been subject to scaling back to balance the capital structure of the new company.
The closed-ended investment company will have a 10 year fixed life and will expire on 28 February 2018. Its existing board of directors will continue in the company.
“By raising and rolling over £108m, we have confirmed our long held belief that well-structured transparent split capital investment trusts can hold strong appeal for investors,” JPMorgan Asset Management investment trusts head David Barron says.
"This view is clearly supported by the substantial majority of shareholders that are supporting the new company by rolling over their investments.”
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Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till