UK - JPMorgan Fleming Asset Management is working towards merging its two heritage life companies, with completion scheduled for October 2001.
The new entity will be named JPMorgan Fleming Life and contain more than US$4bn in assets.
By merging the two life companies, benefits for both existing and new clients will include:
* Access to an extensive range of pooled funds designed specifically for the UK pensions market. The JPMorgan Fleming Life fund range will comprise of over 40 funds covering all asset classes and include both actively managed and index-tracking fund options.
* Clear and flexible fees structures that are stakeholder compliant. To accommodate varying client sizes the funds will have different classes of units, and all fees will be calculated on a total expense ratio basis, which means that there are no other hidden fees, no initial, exit or switching fees, and all costs such as custody and audit costs are inclusive.
Peter Ball, head of UK institutional pooled funds business, said: Increasingly in the UK the pooled fund approach is seen as a cost effective solution for pension scheme investment, and the merger of our life companies, expected to be completed by October 1, 2001 further underpins our continued commitment to this market. Our approach to the design of our pooled funds ensures that we not only have the competitive edge in performance terms, but also more importantly, provide our clients with the most appropriate way to manage their pooled pension fund assets.
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