Brown Advisory US Smaller Companies Proposes Reconstruction with JPMorgan Trust

03:17 AM EDT, 10/07/2026 (MT Newswires) -- Brown Advisory US Smaller Companies (BASC.L) proposed a reconstruction that would allow shareholders to roll over their holdings into JPMorgan US Smaller Companies Investment Trust (JUSC.L) or receive cash following a strategic review. The transaction would be carried out through a scheme of reconstruction and members' voluntary liquidation, with shareholders able to exchange their holdings for newly issued JPMorgan shares of 0.025 pound each or choose a cash exit for up to their entire stake. The cash option would be priced at a 0.75% discount to Brown Advisory's residual net asset value, according to a Wednesday release. The London-listed investor's assets would be divided into separate rollover, cash and liquidation pools, with the latter covering transaction costs and other existing or contingent liabilities. The transaction is subject to shareholder, regulatory and tax approvals and is expected to become effective in December.