JP Morgan is closing the JPM Balanced Managed fund having decided it is no longer viable to run the portfolio, which has £44m in assets under management.
The fund launched in August 2013 and is run by Talib Sheikh and Gareth Witcomb. Over one year the fund has returned 10.6 per cent against the 8.4 per cent sector average of the IA Mixed Investment 40-85% Shares, FE data shows.
“We can confirm that shareholders have been informed of our intention to liquidate the JPM Balanced Managed fund on 13 December 2017,” a JPMAM spokesperson says.
“It was felt that it would be in the best interests of shareholders to liquidate the fund which has not attracted sufficient assets since launch in September 2013 and we believe has limited prospects for growth.”
In July 2016 JPMAM rebranded the Cautious Managed fund as the JPM Global Macro Balanced fund, saying the new name better reflects the investment strategy of the fund.
Subject to FCA approval, the JPM Balanced Managed fund will close on 13 December.