JP Morgan Asset Management has unveiled a new flexible income fund for investors seeking for yield.
The onshore and offshore fund, which was launched on 2 June 2014, will be managed by fund managers Matthew Pallai and Andrew Norelli.
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Norelli is a portfolio manager on the Diversified Solutions team in the US while Pallai is currently a manager on the US fixed income team.
The Income fund will invest in global bonds, including convertible bonds, asset backed securities and covered bonds as well as structured products.
It will also invest in debt instruments including emerging markets, equities and equity-linked securities.
Benchmarked against the Barclays US Aggregate Index hedged to GBP, the $25 million fund will invest across multiple debt markets and sectors to target risk-adjusted income and achieve capital growth.
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By GlobalDataWith a minimum investment of £1,000, the fund will be denominated in US dollars but hedged back to sterling and has no performance fee.
