JPMF offering 2% discount on Strategic Value portfolio

JP Morgan Fleming is offering a 2% discount on the 5.5% initial fee on its UK Strategic Value Fund. The offer, which lasts until 1 August, applies to any lump sum investment of more than £7,000 either direct or via Pep or Isa. The fund, run by Michael Barakos, has just passed its third anniversary. Barakos has been building up a large position in financials, in many cases as yield plays rather than as leveraged exposure to any economic recovery. He had 29.3% exposure to the sector as of the start of May and five of his top 10 holding were financials. Barakos added: 'Financials wou...