Formerly dubbed JPMorgan Multi-Asset Trust, JPMorgan Multi-Asset Growth & Income is an investment trust which used to trade under the ticker symbol MATE.
The fund sought to reduce risk compared to a standard stock portfolio while offering income and long-term growth.
It employed a versatile multi-asset approach and made investments in different sectors, geographies, and asset classes.
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This post will talk about the investment vehicle’s features, holdings, performance, and updates.
What is JPMorgan Multi-Asset Growth & Income Plc?
The investment trust is a unit of JPMorgan Chase & Co. and managed by another division, JPMorgan Asset Management.
After the first two years, either party may terminate the management agreement with six months’ notice, or earlier in some circumstances, such as a major violation.
The trust’s target was to generate total returns of more than 6% annually for progressive five-year windows. It aimed to offer lower risk, consistent income that was correlated with inflation.
The UK-based JPMorgan Multi Asset Growth & Income fund was introduced on February 27, 2018, and it had a market value of 74 million British pounds.
JPMorgan Multi-Asset Growth & Income Holdings
The fund’s top 10 holdings include:
- JPM Global High Yield Bond X (mth) USD at 10.94%
- JPM Income X (acc) USD and JPM Global Corp Bd X (inc) GBP H tied at 6.93%
- JPM Emerg Mkts Lcl Ccy Dbt X (acc) USD at 5.99%
In terms of sector allocation, Tech makes up 14.65%, Financial Services accounts for 9.96%, and Consumer Cyclical represents 8.13%.
Regionally, the United States and the United Kingdom respectively holds 21.86% and 1.28% of the fund’s investments.
JPMorgan MATE Fees
JPMorgan Asset Management assesses a yearly fee of 0.65% on the first 250 million pounds of the fund’s net asset value; 0.60% is levied on any additional amount. This cost is determined and paid each month.
JPMorgan has chosen to divide management fees and financing expenses, allocating 65% to capital and 35% to revenue.
JPMorgan Multi-Asset Growth & Income Performance
The highest NAV return was recorded in 2019 at 15.06%, while the yearly price return was highest in 2021 at 26.95%.
In 2024, the vehicle logged a slight increase in both share price and net asset value.
JP Morgan Multi Asset Growth and Income Fund Updates
MATE merged with another UK-based closed-ended investment trust, JPMorgan Global Growth & Income (JGGI). The company said the move was to increase shareholder value and optimize business processes.
The voluntary winding up of MATE, which included putting the business into members’ voluntary liquidation, and a reconstruction plan were used to carry out the merger.
Shareholders approved this process on March 26, 2024.
MATE’s assets were turned over to JGGI.
Final Thoughts
The JPMorgan Multi-Asset Growth & Income (MATE) fund was created for investors who want steady earnings.
Albeit it has had inconsistent performance in the past, the recent merger with JPMorgan Global Growth & Income might provide investors with better liquidity and cost savings, which could increase returns in the future.
However, investors who favor funds with a longer track record might be concerned about MATE’s comparatively short operating history.
Before investing in the fund, investors should carefully consider fees and market risks by speaking with a financial advisor.
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