J.P. Morgan Asset Management (JPMAM) has rolled out a new Global Capital Structure Opportunities fund that will invest in equities, bonds as well as convertible bonds.
The new fund will invest in multiple asset classes, which includes a maximum of 30% in equities and cash, and 10-50% in convertible bonds, 40-80% in corporate bonds.
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The fund will target a 2% return over its benchmark, which is a blend of 80% Barclays Global Aggregate Corporate index and 20% MSCI World index.
The new fund will be managed by Antony Vallee, JPMAM’s global head of convertible bonds and capital structure funds. At present, Vallee spearheads the firm’s existing global convertibles SICAV and the UK-based closed-ended Global Convertibles Income fund, and manages $5.6bn in assets.
Vallee will be assisted by Robin Dunmall and Natalia Bucci for the new fund.
Vallee commented, "With this fund, we wanted to bring together our deep fundamental knowledge of companies to pick the best opportunities, agnostic of which instrument in the capital structure space, in order to offer strong total returns with a cautious risk profile. The result is a diversified, high-conviction portfolio."
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