Jupiter Emerging & Frontier Income Trust to close due to deteriorating global outlook

LONDON, April 14 (Reuters) – The board of directors of Jupiter Emerging & Frontier Income Trust intends to present formal proposals to shareholders to liquidate the company, he said on Thursday, after pointing to a deteriorating international outlook.

The board of directors considered a number of proposals for candidate vehicles for rollover and concluded not to offer a rollover option, the company said in a statement.

The investment trust said on March 8 that the board had decided to propose a voluntary liquidation, alongside the possibility of transferring its assets to another investment vehicle.

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He said at the time he was aware of the company’s small size and the risk of further takeovers given the deteriorating international outlook, including Russia’s invasion of Ukraine.

The investment trust was launched in 2017 and has assets totaling 60 million pounds ($78.82 million), according to Trustnet.

It said on March 3 that its exposure to Russian-listed securities fell to 0.4% of net asset value after selling some assets amid sanctions against Moscow and a drop in the price of those holdings.

($1 = 0.7612 pounds)

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Reporting by Carolyn Cohn; Editing by Sujata Rao

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