JPMorgan announces healthcare fund merger

JPMorgan (JPM) is to merge two of its offshore healthcare funds owing to their similar investment objectives.

On October 2 the group will merge the $18m (£11m) Global Healthtech fund into the $22m Global Life Sciences fund—both Luxembourg-domiciled Sicavs. The newly created fund will be called the JPM Global Healthcare fund.

The Global Healthcare fund will be managed by JPM’s global sector team which is lead by Anne Marden and Scott Braunstein. Marden is part of the analyst team that works on the Healthtech fund, while Braunstein is on the team that runs the Life Sciences fund.

According to JPM, while the funds follow similar investment objectives, the investment universe of Global Healthtech is wider and more diversified than Global Life Sciences. As a result, the merged fund will adopt the approach used by Global Healthtech which has been subsequently broadened to include Life Sciences.

The fees and expenses charged by both funds are the same, and will remain so after the merger is completed.

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