JP Morgan AM to merge two funds into global unconstrained equity fund

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JP Morgan Asset Management is set to dissolve the JPM Global Financials and the JPM Global Property Securities funds into the JPM Global Unconstrained Equity fund, on 16 December 2017.

These mergers are subject the approval of shareholders at an extraordinary general meeting that will take place on 27 November 2017.

The  JPM Global Financials fund, a UK open ended investment company (Oeic) managed by James Cook and Simon Poncet, tallied £152m (€167.8m) of assets under management as of 30 October 2017, while the UK-domiciled JPM Global Property Securities fund, overseen by Alan Supple and Sara Bellenda had £31.9m (€36m) of AUM at the same date.

JP Morgan AM said that both funds have limited prospects for growth and added that the JPM Global Property Securities fund has not attracted sufficient assets to explain the mergers’ proposals.

The manager is also set to merge UK equity funds on16 December 2017, subject to shareholders’ approval.