J.P. Morgan Asset Management is to launch an onshore version of its Luxembourg-domiciled America Equity fund, with the OEIC made available to UK investors from 31 January.
The fund will offer a concentrated portfolio of between 20 and 40 large cap US equities, with a bottom-up approach to stock picking.
Combining value and growth style investing, it will be co-managed by Jonathan Simon and Greg Luttrell.
"Five years ago when investors asked us for income-orientated exposure to US equities, we launched the JPM US Equity Income Fund. That strategy has grown to more than £2 billion in assets and accounts for more than 7% of assets under management in the IMA's North America sector," said JPMAM head of UK field sales Mike Parsons.
"Now, with economic confidence recovering and macro headwinds subsiding in the US, investors are asking us for higher alpha exposure. For UK investors accessing US equities, there is a gap in the marketplace for concentrated, actively managed portfolios."
J.P. Morgan Asset Management's US equities franchise in the UK includes the US Equity Income Fund, the US Fund, the US Select Fund and the US Smaller Companies Fund, as well as J.P. Morgan American Investment Trust and J.P. Morgan US Smaller Companies Investment Trust.
Last month, IFAonline sister title Investment Week revealed JPMAM was looking to leverage its SICAV by launching a number of OIEC versions of popular bond funds into the UK.
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