JPMorgan Asset Management has revealed its plans to merge away its EUR98m global consumer equity product as part of an on-going strategic review.
The move which is subject to shareholders’ approval will see JPM Global Consumer Trends fund fusing into the JPM Global Unconstrained Equity fund, both owned by Peter Kirkman.
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The group’s Luxembourg-domiciled version of the JPM Global Consumer Trends fund that returned 40.8% in US dollar terms over the three years till December 2014 will cease operations from March 27, 2015.
The fund will be added to EUR360.9m worth JPM Global Unconstrained Equity fund, which is managed by Kirkman, Timothy Woodhouse and Howard Williams.
The group said: "With the same aim of producing long-term capital growth, JPM Global Equity fund has the flexibility to take an unconstrained, high-conviction investment approach, providing exposure to a more diversified global equity opportunity set."
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