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JP Morgan brings Global Allocation fund to UK
by Robert St George on May 28, 2014 at 11:27
JP Morgan has launched its Global Allocation strategy, which has a three-year record in the US, into the UK.
The Global Allocation fund will be managed by: Citywire + rated Talib Sheikh, who already runs several other multi-asset products at the group; Jeffrey Geller, chief investment officer for the firm’s US global multi-asset team; James Elliot, the London-based chief investment officer of JP Morgan’s international global multi-asset group; and Jonathan Cummings, a former JP Morgan private banker now on its global multi-asset desk.
The US version of the fund – which is also managed by Geller, Elliot and Cummings – has returned an annualised 6.6% since inception in May 2011 compared with an average of 5.6% from its Global Flexible Portfolio Funds peer group.
The UK fund will have a composite benchmark of global equities and bonds; in the US portfolio, the greatest weightings are currently 35.6% to US equities, 23.1% to international equities, and 12.3% to high yield bonds.
The fund’s annual charge will range from 0.65% to 1.25% depending on the share class.
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