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Financials

BRIEF-Korea Equity Fund announces merger negotiations with JP Morgan China Region Fund

July 19 (Reuters) - Korea Equity Fund Inc :

* Per proposal, two funds would merge on terms based upon two funds’ relative net asset values per share at date of merger

* JFC will be surviving fund and would continue to retain services of JF International Management Inc

* Successor fund board would comprise two members from current fund board and four members of JP Morgan China Region Fund board

* Proposed name of successor fund will be North East Asia growth fund

* Korea equity fund, inc. Announces merger negotiations with JP Morgan China Region Fund, Inc.

* Successor fund’s investment objective and principal investment strategies would be modified from JFC’s current investment objective

* Successor fund would seek to buy up to 50% of successor fund’s issued shares at net asset value per share less associated costs Source text for Eikon: Further company coverage: (Bengaluru Newsroom : +1-646-223-8780)

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