JP Morgan Asset Management is set to launch an onshore version of its Luxembourg-domiciled America Equity Fund Sicav for UK investors.
Managed by Jonathan Simon and Greg Luttrell, the new JP Morgan America Equity Fund is scheduled to be launched on 31 January.
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The new onshore fund aims to offer a concentrated portfolio of between 20 and 40 large cap US equities, with a bottom-up approach to stock picking.
JP Morgan Asset Management UK field sales head Mike Parsons said that the decision to bring the fund onshore was in response to a shift in investor demands from US equities.
Parsons added: "Five years ago when investors asked us for income-orientated exposure to US equities, we launched 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.
"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."
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