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JPMorgan UK Small Cap Growth & Income Reports Full Year Returns and Planned Combination With Aberdeen Trust

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JUGIGBX 344.50 −0.72%

JPMorgan UK Small Cap Growth & Income plc (LSE:JUGI) reported a net asset value total return of 7.2% and a share price total return of 9.1% for the financial year ended July 31, 2026. While annual returns trailed its benchmark gain of 9.8%, the investment trust maintained a top-quartile ranking against small-cap peers over three, five, and ten years. Dividends for the year totaled 14.52p per share, with the board outlining a 2.8% dividend increase to 14.92p per share for the upcoming year.

To expand scale and lower ongoing costs, the company agreed to heads of terms for a proposed combination with Aberdeen UK Smaller Companies Growth Trust plc. The trust also repurchased 9.7 million shares for £31.6 million at an average 10.1% discount, boosting net asset value per share by 0.8%. Portfolio gearing rose to 10.6% from 8.1% as fund managers added exposure to undervalued UK stocks.

Shareholders can expect detailed documentation regarding the proposed combination in late October or early November 2026, with completion targeted by year-end. Investors will also watch for quarterly dividend payouts of 3.73p per share running through July 2027.

Key points

  • JPMorgan UK Small Cap Growth & Income plc (LSE:JUGI) posted a net asset value total return of 7.2% and a share price total return of 9.1% for the year ended July 31, 2026.
  • The company announced a planned combination with Aberdeen UK Smaller Companies Growth Trust plc to increase net assets and improve liquidity.
  • Total dividends for the year reached 14.52p per share, with the board targeting an increased payout of 14.92p per share for the next financial year.
  • Share buybacks totaling 9.7 million shares for £31.6 million added 0.8% to net asset value per share.

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Questions and answers

What were the annual results for JPMorgan UK Small Cap Growth & Income?

For the year ended July 31, 2026, the company generated a net asset value total return of 7.2% and a share price total return of 9.1%, compared to a 9.8% gain for its benchmark index.

How much dividend will JPMorgan UK Small Cap Growth & Income pay?

The trust paid 14.52p per share for the year ended July 31, 2026. For the financial year starting August 1, 2026, the board plans to pay 14.92p per share in four quarterly payments of 3.73p per share.

What is the proposed combination with Aberdeen UK Smaller Companies?

JPMorgan UK Small Cap Growth & Income agreed to heads of terms to combine with Aberdeen UK Smaller Companies Growth Trust plc. Documentation is expected by early November 2026 with completion planned by the end of 2026.