JPMorgan Emerging Markets subscription shares are convertible into the ordinary shares of JPMorgan Emerging Markets.
JPMorgan Emerging Markets’ objective is to achieve capital growth from emerging markets worldwide. In order to achieve the investment objective and to seek to manage risk, the Company invests in a well diversified spread of countries, industries and companies. JP Morgan Emerging Markets invests primarily in quoted securities in emerging stock markets but, where necessary or appropriate in the absence of suitable quoted securities, it may invest in unquoted securities. It may invest in other collective investment schemes, but usually only where legal restrictions prevent direct investment by foreigners or prudent diversification can best be achieved in this way.
JPMorgan Emerging Markets is managed to produce capital growth and not to produce any particular level of dividend and therefore the level of dividend will vary.