JPMorgan Emerging Mkts Invest Trust Net Asset Value(s)
01 August 2024 - 10:26PM
RNS Regulatory News
RNS Number : 8421Y
JPMorgan Emerging Mkts Invest Trust
01 August 2024
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JPMORGAN EMERGING MARKETS INVESTMENT TRUST PLC (the
'Company')
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Legal Entity Identifier:
5493001VPQDYH1SSSR77
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THE COMPANY ANNOUNCES THE UNAUDITED
NET ASSET VALUE (NAV) As at: 31 July 2024
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THE NET ASSET VALUE PER SHARE IN
PENCE, INCLUDING INCOME WITH DEBT AT FAIR VALUE:
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121.29
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India has had a longstanding
non-resident capital gains tax ("CGT") regime whereby foreign
portfolio investors such as the Company pay CGT on the gains
realised on Indian securities depending on the length of holding
period. Therefore, the Company accrues for its best estimate
of these taxes on a daily basis and this is reflected in the
NAV.
The Indian Union Budget of 23 July 2024 proposed increases to the
CGT rates. Although this has not yet been officially ratified by
Parliament the increase in CGT rates would be effective from 23
July 2024.
As a result, the Company has decided to effect these changes to the
CGT rates in the calculation of the CGT accrual in the Company's
NAV from today, on the basis that the amended rates reflect the
best estimate of future taxes due on Indian equity
holdings.
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Name of contact and telephone number
for queries:
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Paul Ainger 0044 207 742
6524
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Name of authorised company official
responsible for making this notification:
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Alison Vincent 0044 207 742 6216 -
Company Secretary
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Date: 01 August 2024
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