J.P. Morgan Asset Management (JPMAM) is to bring a series of bond funds into the UK market as part of an expansion of its fixed income range.
The firm is planning to leverage its Luxembourg-domiciled SICAV business either by launching OEIC versions in the UK, or by selling directly to advisers via platforms.
JPMAM’s UK-domiciled fixed income range currently consists of only four funds: Nick Gartside’s £600m JPM Strategic Bond fund, the £264m Global High Yield Bond fund, the £119m Sterling Corporate Bond and the £59m Global (ex-UK) Bond fund.
Funds set to be made more widely available in the UK include the $6.7bn JPM Income Opportunity fund, an absolute return vehicle managed by Bill Eigen, as well as a pair of emerging market debt funds: the $3.6bn Emerging Market Debt Local Currency fund and the $1.2bn Emerging Market Debt fund, both run by Pierre-Yves Bareau and Didier Lambert.
JPMAM’s head of UK retail Jasper Berens (pictured) said it is essential the group bolsters its UK fixed income range in order to grow the business in to ‘a top three player’ in the UK asset management space over the next five years.
“In the unit trust space we are nineteenth in terms of assets, but we are top ten overall if you include investment trusts and SICAVs,” he said.
“We have various options including launching OIECs, but we also have to work better with our platform partners so they can understand putting SICAVs on platforms would be a good idea.”
The group also plans to scale up its UK equity and mixed asset ranges, Berens added.
Bought plans in 1988 and 1989
To be added to model portfolio service
Launched 25 September