JPMorgan Asset Management is planning to merge its underperforming UK Focus fund with its UK Dynamic fund as a part of its strategic review to simplify the firm’s fund range.
The merger, which is scheduled to take place on 9 May 2015 following shareholder approval, will add assets worth £49.3m of the UK Focus fund to the UK Dynamic fund valued at £152.7m.
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The merged funds will be managed by the current managers of UK Dynamic, John Baker, Jon Ingram and Blake Crawford.
UK Focus fund manager Patrick Vermeulen will continue in his role as head of the European equity research driven process group and will continue to manage the Europe focus and Euroland focus funds.
The group said: "The merger was identified as part of an ongoing strategic review of the overall J.P. Morgan Asset Management fund range, in which we continually seek to simplify and improve our offering, while still ensuring that shareholders have access to a broadly diversified product range."
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