JP Morgan's top rated analyst Matt Truman is behind the launch of a new asset management vehicle targeting opportunities in the retail sector.
Truman, well-known within the investment bank's European retail team as the broker for Tesco, and cash and carry chain Booker, has already teed up former Citi and Schroders investment banker Guy Harington for the vehicle's advisory board.
Harington will bring with him a breadth of experience in emerging markets and will be officially installed at True Capital when the fund closes.
According to its prospectus, asset management vehicle True Capital will in its first year focus on five key trends it expects to become 'pronounced' during 2013 and beyond.
These include services within the sector becoming increasingly personalised, the demise of bricks and mortar stores and the likely streamlining of retailers factories and manufacturing hubs.
While many have said the downturn suffered by high street retailers is a result of the slowing economy, Truman told his clients the squeeze on growth has merely shone a spotlight on weak businesses.
'Many sector commentators would have predicted the retailers who have succumbed to the challenging economic times thus far but our sense is that the cuts go deeper, especially in the bigger businesses. This isn’t necessarily the fault of the weak economy; in this instance the economy merely shines a light upon the weak aspects of many businesses as consumers modify their shopping habits,' Truman told them.