After reporting in last week’s newsletter that JP Morgan Asset Management had launched a UCITS version of their Nippon Neutral Strategy – Japan Market Neutral (UC
After reporting in last week’s newsletter that JP Morgan Asset Management had launched a UCITS version of their Nippon Neutral Strategy – Japan Market Neutral (UCITS) Fund – the US bank has decided to roll out a l/s global equity fund for former Schroders’ equity head, Gary Clarke, according to Citywire Global. Citing rising investor demand for products that can be benchmarked against cash, the JP Morgan Global Equity Absolute Alpha fund aims to target absolute returns of cash plus 3 per cent to 5 per cent above LIBOR on an annualised basis. As its name suggests, active management of both long and short books in the portfolio targeting global equities and equity-linked securities will be employed to generate alpha. The fee structure is 1.25 and 10 relative to management and performance fees. JP Morgan’s global equities team, based in London, are to run the fund. With respect to the short book, positions will only be taken on underlying securities through the use of derivatives.
