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JP Morgan alters line-up on £1.2bn Systemic Alpha fund

JP Morgan alters line-up on £1.2bn Systemic Alpha fund

JP Morgan has replaced former Citywire + rated Gareth Witcomb with fund manager Wei Li on its €1.5 billion (£1.2 billion) Systematic Alpha fund, Citywire Global has learned.

Witcomb had co-run the Luxembourg-domiciled Alternative Ucits fund since its launch in 2009.

Fellow co-manager Yazann Romahi remains lead portfolio manager of the strategy, while Katherine Santiago, who was added in 2011, also remains.

The change, which came into effect on 1 July, is designed to reflect the growth of the team’s quantitative strategies capabilities, JP Morgan said.

Speaking to Citywire Global, a spokesperson said: ‘Gareth remains a key member of the investment team within the multi-asset group and will focus on his role as portfolio manager across the group’s balanced fund range.

‘There will be no change in the fund’s investment process or approach.’

Li had served as part of the team on the fund, which is designed to capture alternative beta opportunities through a systematic multi-strategy investment style, since 2010.

The JPM Systematic Alpha A Acc EUR fund returned 8.7% over the three years to the end of June 2014. This compares with a return of 11.2% by the average manager in the Citywire Alternative Ucits Long/Short Equity sector over the same period.

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Gareth Witcomb
Gareth Witcomb
5/16 in Mixed Assets - Balanced EUR (Performance over 3 years) Average Total Return: 26.85%
Katherine Santiago
Katherine Santiago
14/19 in Alternative UCITS - Multi Strategy (Performance over 1 year) Average Total Return: 2.45%
Yazann Romahi
Yazann Romahi
7/7 in Alternative UCITS - Event Driven (Performance over 3 years) Average Total Return: -0.14%
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