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John Anderson to exit JP Morgan AM after Corporate Bond fund review
by Dylan Lobo on Jul 31, 2013 at 16:39
Wealth manager can reveal bond fund manager John Anderson has left JP Morgan Asset Management.
Anderson (pictured) joined JP Morgan from Gartmore in April 2011 to run the firm's sterling corporate bond vehicle.
He was hired by Gartmore as head of credit at the start of 2009 to help revive the firm's ailing fixed income business with his strong performance on the Gartmore Corporate Bond fund earning him a Citywire AA-rating and place in the Citywire Selection fund buy list.
However, Anderson's position at Gartmore became unclear following Henderson's acquisition of the firm in 2010. This ultimately led to his move to JP Morgan to run the JPM Sterling Corporate Bond fund, which he assumed control of in May 2011.
A spokesperson for the firm said: 'JP Morgan Asset Management constantly looks at the resources it has across any business or product, and fixed income is no different.
'We have added a significant number of fixed income professionals over the last five years, across our global fixed income franchise, and we have continued to add this year. We can confirm that we are currently looking at the fund manager coverage of the JPM Sterling Corporate Bond fund.
'John has been put at risk of redundancy as part of that review. However, no decision has been made regarding any changes. If the redundancy did go ahead, we would of course ensure the JPM Sterling Corporate Bond fund – to which we remain very committed – has the appropriate resource and experience.'
According to Lipper, in the 12 months to the end of June Sterling Corporate Bond fund has returned 6.8% versus a 7.75% rise in the Merrill Lynch Sterling Corporate Bond fund index. It's maximum drawdown of 4.04% was the 22nd best out of the 108 funds in the peer group.
He was last rated by Citywire in December 2011, when he was A-rated.
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