The enlarged JP Morgan Emerging Markets investment trust commenced trading on the London Stock Exchange last week. This follows its merger with the F&C trust of the same name. The amalgamated trust is under the management of JP Morgan. About 20 million new ordinary shares have been issued in connection with the merger, valued at about 76m. This figure represents the shareholding in the merged trust, owned by former F&C shareholders. The trust has assets of about 412m.