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AA-rated manager steps back from JPM EM fund

AA-rated manager steps back from JPM EM fund

JPMorgan Asset Management has made changes to the manager line up on two emerging market equity funds, Citywire Selector has learned.

Citywire AA-rated Amit Mehta has stepped down from the JPM Emerging Markets Opportunities fund.

This is so he can focus his full attention on managing the JPM Emerging Markets Small Cap fund.

Existing portfolio managers Richard Titherington, Sonal Tanna and Anuj Arora remain named on the Emerging Market Opportunities fund, with no changes to the investment process.

Commenting on the changes, a spokesperson for JP Morgan said the changes were communicated to investors at the end of last year.

Elsewhere, Joyce Wenge will join the JPM Emerging Markets Diversified Equity fund as a back-up manager. This is while existing co-manager Arora takes on the lead manager role.

George Iwanicki, who is currently a co-manager on the fund, will continue with his current position on the strategy.

However, early next year he will step down from the fund to concentrate on his role as head of the Emerging Market Asia Pacific strategy team.

The team provides macro research that influences top down strategies, which includes this fund.

Over three years the JPM Emerging Market Opportunities fund lost 0.98% in US dollar terms. This compares to a rise of 5.26% by its Citywire-assigned benchmark, the MSCI EM (Emerging Markets) TR USD, over the same time frame.

The JPM Emerging Markets Diversified Equity fund returned 1.06% over three years in US dollar terms. This compares to a rise of 5.26% by its Citywire-assigned benchmark, the MSCI EM (Emerging Markets) TR USD, over the same time frame.

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