JP Morgan Asset Management (JPMAM) has launched a wholesale business in Australia and introduced two new funds to expand its presence in the country.
The two new funds include the JPMorgan Global Strategic Bond Fund and JPMorgan Emerging Markets Opportunities Fund.
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The new unit will be headed by David Hallifax, who was appointed last year to lead the development of JPMAM’s wholesale business in Australia.
Hallifax will report to Jed Laskowitz, JP Morgan Asset Management Asia-Pacific’s chief executive officer.
The JPMorgan Global Strategic Bond Fund will follow an unconstrained strategy that aims at offering investment ideas across the global fixed income and currency markets.
However, JP Morgan’s emerging markets fund will use a concentrated, high-conviction, value-orientated strategy, and aims to outperform the MSCI Emerging Market Index. In addition, the fund will offer access to in-depth research covering almost 700 emerging markets companies.
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By GlobalDataGeorge Gatch, CEO of JP Morgan Asset Management’s global funds management business, said, "We believe there is a significant market opportunity for our global funds in the Australian wholesale market which accounts for an estimated A$500 billion (US$448.28 million)."
Hallifax said: "Our expansion into the wholesale market and the launch of these products is in response to the growing demand for unconstrained fixed income and global equities investments and will enable investors to gain direct access to J.P. Morgan’s international expertise and insights."
