JP Morgan Asset Management (JPMAM) has expanded its fixed income range by launching a series of bond funds into the UK market.
The firm seeks to leverage its Luxembourg-domiciled SICAV business either by introducing OEIC versions in the UK, or by selling directly to advisers through platforms, according to Investment Week.
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The funds included in the JPMAM’s UK-domiciled fixed income range are Nick Gartside’s £600 million JPM Strategic Bond fund, the £264 million Global High Yield Bond fund, the £119 million Sterling Corporate Bond and the £59 million Global (ex-UK) Bond fund.
The remaining funds that are available in the UK include the US$6.7 billion JPM Income Opportunity fund run by Bill Eigen, as well as a pair of emerging market debt funds, the US$3.6 billion Emerging Market Debt Local Currency fund and the US$1.2 billion Emerging Market Debt fund, both managed by Pierre-Yves Bareau and Didier Lambert.
JPMAM’s head of UK retail, Jasper Berens, said that the firm is expanding its UK fixed income range to grow the business widely in the UK asset management industry over the next five years.
Berens added that the firm also plans to expand its UK equity and mixed asset ranges.
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By GlobalDataBerens said: "In the unit trust space we are nineteenth in terms of assets, but we are top ten overall if you include investment trusts and SICAVs. We have various options including launching OIECs, but we also have to work better with our platform partners so they can understand putting SICAVs on platforms would be a good idea."
