J.P. Morgan Asset Management (JPMAM) is to merge away three funds and launch a new retail product as it completes an overhaul of its UK fund range, Investment Week can reveal.
The group's UK Equity, Emerging Markets Infrastructure and Institutional Balanced funds are all set to be merged away, pending shareholder approval. The moves follow last month's closure of Neil Gregson's £4m Global Mining fund as well as Talib Sheikh's £9m Balanced Total Return fund. The £274m UK Equity fund, managed by Ian Butler and Tom Buckingham, is to be merged with the better-performing £6m UK Strategic Growth fund, also managed by the duo. The funds both have a FTSE All Share benchmark and are run from JPMAM's behavioural finance desk, but UK Equity has a focus on value as ...
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