JP Morgan Fleming is offering a 2% discount on its offshore Fleming Funds Isa until the end of Octob...
JP Morgan Fleming is offering a 2% discount on its offshore Fleming Funds Isa until the end of October for investments of more than £5,000, writes Kira Nickerson.
At the same time, it is offering a 2% discount off the initial charge on its onshore UK Strategic Value fund for Isa and direct purchases.
The group is pushing its style-based, strategic growth and strategic value funds to intermediaries in an effort to gain more UK retail interest in the use of style investing.
Since the launch of the funds into the European markets last year, the group has raised some E930m in assets, mostly via continental rather than UK retail investors.
Much of the interest in style investing has been from institutional investors and fund of funds managers, said Chris Complin, portfolio manager for European equ- ities at the group, with the strongest backing com- ing from Benelux, Switzer- land, Italy, Germany and Spain.
One rationale behind the popularity of the funds on a continental European basis is that the market is less mature and has a scarcity in fund choice, unlike the UK retail market, according to Complin.
By contrast in the US, he said, style funds have been a popular choice for the past 10-12 years.
He added: 'UK retail investors can use style funds to create portfolios similar to the way fund of funds managers do, giving them greater control and diversity.'
The group's style funds, the onshore UK Strategic Value and the offshore US Strategic Growth, US Strategic Value, European Strategic Value and European Strategic Growth, are all individually available within an Isa wrapper.
Investors can also chose their own weightings to these funds within a single Isa.
In addition, JP Morgan Fleming has two set combinations, called dedicated portfolios, one utilising its range of technology funds and the other offering diversity through the style funds.
The advantage of creating one's own style-based product, Complin said, is to be able to balance out a client's portfolio and diversify risk in the market.
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