JP Morgan Asset Management has announced a host of fund mergers as it seeks to improve the efficiencies of its overall fund range, Citywire Selector has learned.
A total of 10 funds will be merged into eight receiving funds as part of plans coming into effect in February next year.
According to shareholder notes seen by Citywire Selector, these proposed changes impact several funds overseen by Citywire-rated managers.
This includes the JPM France Equity fund, which is managed by Citywire A-rated Francesco Conte and Citywire + rated managers Joanna Crompton and Richard Webb. This will be rolled into the €469 million JPM Euroland Equity fund, which is run by Webb alongside Citywire A-rated Stephen Macklow-Smith and Citywire + rated Nicholas Horne.
Elsewhere, the firm will consolidate different strategies currently run by the same managers into one approach. For example, the €14 million Europe Select Equity Plus fund, currently run by Ido Eisenberg, Rajesh Tanna and Francesco Sedati, will be moved into their €1.51 billion JPM Europe Select Equity fund.
Speaking to Citywire Selector, a spokesperson for JP Morgan AM said: ‘After our most recent evaluation of our investment offering, we decided that it would benefit both our clients and our business to optimise our product suite.’
Fund changes in full
- JPM Euroland Select Equity fund, JPM France Equity fund and JPM Germany Equity fund merge into JPM Euroland Equity fund on 9 February 2018.
- JPM Income Opportunity Plus fund merges into JPM Income Opportunity fund on 9 February 2018.
- JPM Europe Select Equity Plus fund merges into JPM Europe Select Equity fund on 23 February 2018.
- JPM Euro Short Duration Bond fund merges into JPM Global Short Duration Bond fund on 23 February 2018.
- JPM Global Financials fund and JPM Global Select Equity Plus fund merge into JPM Global Select Equity fund on 23 February 2018.
- JPM Highbridge Europe STEEP fund merges into JPM Europe Dynamic Fund on 23 February 2018.
- JPM US Equity fund merges into JPM US Select Equity fund on 23 February 2018.
- JPM US Equity Plus fund merges into JPM US Select Equity Plus fund on 23 February 2018.