EUROPE - JP Morgan Fleming Asset Management has boosted its fixed-income range with the launch of three new bond funds targeting European institutional investors, including pension funds and fund of fund providers.
The JPMF Europe Short Duration Fund, JPMF Global Short Duration Fund and JPMF Europe Credit Fund each has a minimum subscription level of e/US$10,000. The funds is also open to investors in the UK, with tax implications.
Maria Ryan, fixed income specialist at JPMorgan, said: “These three new bond funds have been specifically created to give clients increased access to our expertise and ensure that our bond fund range is comprehensive and able to meet all our clients' portfolio needs.
The JPMF Global Short Duration Fund and JPMF Europe Short Duration Fund have been designed to offer investors much of the security of liquidity funds and less volatility than the full duration bond funds, added Ryan.
They are benchmarked against the JPM Global Government Bond Index (1-3yrs) hedged into US$, and the JPM EMU Government Bond Index (1-3yrs) respectively.
Ryan said that both funds would be suitable for use in a balanced bond portfolio, allowing investors to achieve their required return, risk and liquidity profiles.
The JPMF Europe Credit Fund targets growth in the European investment grade corporate bond market and is set against the Lehman Greater Europe Corporate Bond Index, hedged to Euros.
All three funds are domiciled in Luxembourg and are open-ended SICAV vehicles.
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