JPMorgan is launching five bond Sicavs for Bob Michele, the former Schroder manager, and his team, with further fixed income launches planned.
David Tan, the head of international rates, will run the JPM Global Government Short Duration Bond fund, Euro Government Short Duration Bond fund, and Global Government Bond fund.
Lisa Coleman, the global head of corporates, will manage the European Corporate Bond and Global Corporate Bond vehicles. All five Luxembourg-domiciled funds are aimed at conservative investors and will target stable returns and minimal currency and credit risk, the group says.
Michele, who is the global chief investment officer for fixed income, says the three corporate bonds funds will focus on undervalued global investment grade holdings. The government bonds vehicles will invest in issues from investment grade countries using a research-intense, traditional long-only strategy. The short duration funds will focus on short-term government fixed and floating rate bonds.
All five funds have been designed to meet the needs of investors’ flight to safety and reduced risk appetite.
JPM intends to develop new fixed income vehicles as market conditions and the demands of investors change.
JPM poached Bob Michele from Schroders late last year.