JPMorgan Mid Cap Investment Trust PLC (JMF.L) WACC Analysis

As of May 22, 2025, JPMorgan Mid Cap Investment Trust PLC (JMF.L) carries a Weighted Average Cost of Capital (WACC) of 9.0%. WACC reflects the blended rate JPMorgan Mid Cap Investment Trust PLC must pay to both equity and debt holders.

Within that, the cost of equity is 12.0%, the cost of debt is 4.0%, and the effective tax rate is 0.1%.

Breakdown of WACC Components

• Long-term bond rate: 4.0% – 4.5%
• Equity market risk premium: 6.0% – 7.0%
• Adjusted beta: 1.34 – 1.49
• Additional risk adjustment: 0.0% – 0.5%
• Debt-to-equity ratio: 1

What It Means for Investors

With a selected WACC of 9.0%, JPMorgan Mid Cap Investment Trust PLC must ensure any new investment returns exceed this threshold to generate shareholder value. This level reflects a moderate financing cost structure.