Portfolio Protection
10 Octubre 2006 - 11:27AM
UK Regulatory
RNS Number:2566K
JPMorganFleming Income&Growth ITPLC
10 October 2006
LONDON STOCK EXCHANGE ANNOUNCMEENT
JPMORGAN FLEMING INCOME & GROWTH INVESTMENT TRUST PLC
PORTFOLIO PROTECTION
The Board of JPMorgan Fleming Income & Growth Investment Trust plc (the "Company
") announces that the Company has purchased a number of FTSE 100 December 5875
Put Options which have an underlying value of approximately #50 million at the
time of purchase and represent 26% of the Company's equity portfolio.
The cost of purchasing the Put Options has been met by the premia received from
the sale of a number of Call Options on stocks within the Company's portfolio.
The average upside appreciation for the call options is 5.2%.
Alan Cole, the Chairman of the Company, commented;
"The Board are mindful of the forthcoming winding up date for the Company and
believes a degree of protection for the existing equity portfolio is appropriate
at the current time."
10 October 2006
Enquiries:
Craig Cleland, JPMorgan Asset Management (UK) Limited 020 7742 3418
This information is provided by RNS
The company news service from the London Stock Exchange
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