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JP Morgan unveils secured loans investment trust plan
by Sarah Miloudi on Sep 16, 2013 at 13:52
JP Morgan is to launch a London-listed investment trust offering investors access to a portfolio of secured loans with a focus predominately on the US market.
Unveiling its plans, the asset manager said it sees significant opportunities within the loans market to secure a high income for investors while at the same time shielding them from the impact of rising interest rates.
Simon Crinage, head of investment trusts at JP Morgan Asset Management, said that while the asset class may be unfamiliar to many UK investors, the investment house has a well-stocked team investing in space.
'Senior members of the team have been managing high-yield bond and loan portfolios together for 25 years, and assets under management in these portfolios stood at US$35.9 billion as at 31 July,' Crinage said.
Moreover, the closed-end team at JP Morgan runs more than £7 billion in assets within its investment trust range, making it the UK's largest manager of listed assets.
Elsewhere, Threadneedle has also announced its intention to move into the closed-end debt space.
Henry Cooke, head of its European asset backed desk, will take charge the Threadneedle Asset Backed Income Trust if its intention to float proves popular with investors.
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