TIDMJARA TIDMJARU TIDMJARE

RNS Number : 7936I

JPMorgan Global Core Real Assets Ld

21 April 2022

JPMORGAN GLOBAL CORE REAL ASSETS LIMITED

Capital Call

Legal Entity Identifier: 549300D8JHZTH6GI8F97

Capital Call

JPMorgan Global Core Real Assets Limited (the 'Company' or 'JARA') is pleased to announce that a further $8.2m of the Company's committed capital has been called and funded into the US Real Estate Mezzanine Debt strategy. This represents the final tranche of JARA's commitment to this strategy and was, as with the previous tranche ($11.1m), funded from JARA's cash balance(1) and by reducing the liquid real asset allocation portion of JARA's portfolio.

The start of the year has been a very active one for JPMorgan's Real Estate Mezzanine platform with 8 assets being agreed and signed. All of these have been floating rate loans and they also include the team's first loan to industrial assets. Once all fully executed, JARA will have exposure to a portfolio of 23 loans. As a result of this transaction the Company will have increased its sensitivity to rising interest rates, given that the Mezzanine strategy now has c. 80% of its exposure to floating rate loans. This now fully drawn allocation will also help to increase JARA's portfolio income as the underlying Mezzanine strategy has provided an income of 7.4% over one year and an annualised return of 6.9% since inception(2) . Target total return for the Mezzanine strategy is 7-9% gross and 6-8% net(3) ; this return will be primarily income orientated.

(1) c.1% of capital remains uninvested for cost and liquidity requirements

(2) Mezzanine Strategy inception 5th December 2019

   (3)   The difference between Net and Gross return is due to management fees levied 

21st April 2022

Alison Vincent

JPMorgan Funds Limited - Company Secretary

Telephone 0207 742 4000

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