JPM values chance to exploit US recovery

JPMorgan (JPM) has launched a US Equity Income fund to exploit the recovery in the American market, which the group says is imminent.


JPMorgan (JPM) has launched a US Equity Income fund to exploit the recovery in the American market, which the group says is imminent.

The fund, to be managed by Clare Hart, invests primarily in large and mid-cap value stocks and aims for a dividend yield 1% above the S&P 500.

Jasper Berens, the head of UK retail sales at JPM, says investors have too much money concentrated in the UK Equity Income sector when Britain’s economy is suffering and companies are cutting their dividends.

Berens adds that equity market valuations are attractive at current levels and low interest rates are particularly favourable for value stocks.