Change of Fund Manager

28th March 2022

Jupiter Emerging and Frontier Income Trust

("JEFIT", or the "Company")

Change of Fund Manager

On 8 March 2022, the Board announced its intention to put forward proposals for a members' voluntary liquidation of the Company. The Board is working on formal proposals to put to shareholders in the coming weeks and it is envisaged that, in addition to offering a full cash exit less costs, an option will be proposed to allow shareholders the opportunity to rollover into another vehicle through a scheme of reconstruction of the Company. To this end, conversations regarding potential rollover vehicles are taking place with a number of investment management houses, including Jupiter. A further announcement will be made in due course.

Since launch in 2017, the Company's Investment Adviser has been Jupiter Asset Management Limited, led by fund manager Ross Teverson. The Board has been informed that Ross has decided to leave Jupiter with effect from 31st March 2022. Matthew Piggott, who has worked alongside Ross in Jupiter's Global Emerging Markets team for five years and who has been involved in the investment management of the Company's portfolio for the last two years, will assume lead fund management responsibility from that date.

John Scott, Chairman of JEFIT, commented: "Ross Teverson's investment record at JEFIT has been strong and at all stages he has enjoyed the Board's full confidence. The decision to wind up the Company was driven by the steady shrinkage of the net assets through its annual redemption facility, which has resulted in a trust which, in the opinion of the Directors, has fallen below the minimum desirable size for a fund of this kind and which in current market conditions will be difficult to grow to an acceptable level.

"The Board of JEFIT would therefore like to thank Ross for what he has achieved over the past five years in very challenging conditions and to wish him every success in the next phase of his career."

Enquiries:

Magnus Spence

Jupiter Asset Management Limited, Company Secretary

020 3817 1000

[email protected]