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JP Morgan Asset Management launches high alpha US equity fund

JP Morgan Asset Management launches high alpha US equity fund

JP Morgan Asset Management (JPMAM) is to launch an onshore version of its high alpha US fund, Wealth Manager can reveal.

The JPM America Oeic is a replica of the JP Morgan Funds - America Equity Luxembourg Sicav, managed by Jonathan Simon (pictured left) and Greg Luttrell (right).

In 2013 the fund returned 37.2% compared to a 30% rise by the S&P 500 and over three years it has returned 44.5% versus 48.2% for the benchmark.

The fund will hold a range of 20-40 high conviction value and growth stocks with Simon responsible for investments in the former and Luttrell the latter. Within the strategy, 82% of holdings differ from the S&P 500 and it has a high tracking error.

The pair will have the flexibility to tilt strategically towards growth or value styles in response to market conditions.

Commenting on the launch, JPMAM head of UK field sales Mike Parsons said the decision to bring the fund onshore was in response to a shift in investor demands from US equities.

'Five years ago when investors asked us for income-orientated exposure to US equities, we launched JPM US Equity Income Fund. That strategy has grown to more than £2 billion in assets and accounts for more than 7% of assets under management in the IMA’s North America sector,' Parsons said.

'Now, with economic confidence recovering and macro headwinds subsiding in the US, investors are asking us for higher alpha exposure. For UK investors accessing US equities, there is a gap in the marketplace for concentrated, actively managed portfolios.'

The JP America fund, which launches on 31 January, will sit alongside the JP US Select, US Smaller Companies and US Equity Income Oeics, along with the JP Morgan American Investment Trust and JP Morgan US Smaller Companies Investment Trust.

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Jonathan Simon
Jonathan Simon
45/78 in Equity - North America (Performance over 3 years) Average Total Return: 58.74%
Gregory Luttrell
Gregory Luttrell
102/140 in Equity - North America (Performance over 1 year) Average Total Return: 15.98%
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