Spanish bank Liberbank has launched a fund subordinated to another fund of JP Morgan Asset Management, thus strengthening the management agreement signed by the two entities in 2017.
Liberbank Global Macro fund is subordinated to the JP Morgan AM Global Macro Fund through a master-feeder structure in which Liberbank's new fund invests at least 85% of its portfolio in the fund of the US manager.
The new fund, in which investors can participate from €6 (class A) or €30,000 (class P) comes to increase Liberbank's fund range recently expanded with the launch of the Liberbank protection and the Liberbank global bonds.
Liberbank and JP Morgan AM signed a strategic agreement in June 2017 through which the management of three of Liberbank's funds were transferred to the US manager.
The Spanish bank has also unveiled its plans to create another master-feeder structure of the JP Morgan's Multi- manager Alternatives fund with the aim to continue strengthening its range of alternative products.