PMSF Jpmorgan Pro

RNS Number:5827W
JPMorgan Progressive Multi-Strategy
15 May 2007





JPMorgan Progressive Multi-Strategy Fund Limited



First Day of Trading



JPMorgan Progressive Multi-Strategy Fund Limited (the "Company"), which is a
newly formed closed-ended investment company with an unlimited life,
incorporated in Guernsey and which is managed by JPMorgan Asset Management (UK)
Limited, today announces the commencement of trading of its issued share capital
following the application for admission to AIM and CISX.



The Company has been established in order to provide investors with a way to
gain an investment exposure to JPMorgan Progressive Multi-Strategy Fund ("PM-S
Fund"), a sub-fund of JPMorgan Portfolio Strategies Funds II, a Luxembourg
umbrella investment company.





The Company's investment objective is to achieve, over the medium to long term,
a return broadly comparable to direct equity investments but at a lower level of
volatility. The Company expects to achieve its investment objective through
investing substantially all of the net funds raised on admission in PM-S Fund
(or any successor vehicle to PM-S Fund).



Key Highlights



  * #25.0 million raised by way of a placing



  * Placing price of 100p; initial net asset value per share of 98.25p



  * Directors' subscription of #60,000



  * Net funds to be invested in PM-S Fund



  * Admission to AIM and CISX



  * Manager is JPMorgan Asset Management (UK) Limited



  * Shore Capital is nominated adviser and broker



Further details are available on www.jpmprogressivemultistrategy.co.uk



Press Enquiries



JPMorgan Asset Management (UK) Limited

David Barron    - 020 7742 3475



Shore Capital

Alex Borrelli     - 020 7408 4090




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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