JP Morgan to merge raft of funds

Merge-Mergers-700.jpgJP Morgan Asset Management is merging several of its funds following a review of its product suite.

Two funds – the £152m Global Financials fund and the £32m Global Property Securities fund – are being merged into the £265m Global Unconstrained Equity fund.

The £152m UK Equity & Bond Income fund is being merged into the £286m UK Higher Income fund and the £268m UK Equity Blue Chip is being merged into the £271m UK Equity Core fund.

A JPMAM spokesperson says: “After our most recent evaluation of our investment offering, we decided that it would benefit both our clients and our business to optimise our product suite.

“We can confirm that JP Morgan Asset Management has notified shareholders of its intention to merge several sub funds, subject to shareholder approval, on the 16 December.”

Last month it was revealed the £44m JPM Balanced Managed fund is being closed on 13 December due to its small size.