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JP Morgan merges away four funds in rationalisation push

JP Morgan merges away four funds in rationalisation push

JP Morgan Asset Management is set to merge way four funds in December as part of its rationalisation push.

The company cited limited prospects for growth as well as overlapping investment strategies as the reason for the planned mergers.

For one, the company will consolidate two funds currently run by the same managers into a one fund. JPMorgan Funds – Emerging Markets Bond fund will be merged into the JPMorgan Funds – Emerging Markets Debt fund.

Both funds are managed by Citywire + rated Pierre-Yves Bareau and Citywire A-rated Emil Babayev and have overlapping investment strategies.

The second fund JP Morgan is going to merge is the JPMorgan Funds - Emerging Europe, Middle East and Africa Equity fund. The fund will be merged into the JPMorgan Funds - Emerging Europe Equity fund.

Managed by Oleg Biryulyov, Pandora Omaset and Habib Saikaly, the JPMorgan Funds - Emerging Europe Equity fund had about €368 million ($425.5 million) in assets as of end-September. In Asia, the fund is registered for sale in Hong Kong, Singapore, Macau and Taiwan.  

The third fund to be merged is the JPMorgan Funds - Hong Kong fund, which will be merged into the JPMorgan Funds - China fund.

Managed by Howard Wang and Rebecca Jiang, the JPMorgan Funds - China fund had about $1.26 billion in assets as of end-September. The JPMorgan Funds - China fund is available for accredited investors in Singapore.

Lastly, the JPMorgan Funds – Singapore fund will be merged into the JPMorgan Funds – ASEAN Equity fund, as reported earlier.  

Managed by Citywire A-rated Pauline Ng and Citywire A-rated Chang Qi Ong, the JPMorgan Funds – ASEAN Equity fund had about $540.8 million in assets as of end-September.

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