JP Morgan Asset Management has rebranded the Cautious Managed fund, and cut its annual fees.
The asset manager will rebrand the fund as the JPM Global Macro Balanced fund, which it says better reflects the investment strategy of the fund.
At the end of 2012 the fund introduced a new investment approach, to focus on macro-thematic investment strategies. JP Morgan says the ‘balanced’ name of the fund reflects its investment in equity and bonds. The fund is run by James Elliot, Gareth Witcomb and Talib Sheikh.
The move will also bring the £175m fund in line with the JPM Global Macro Opportunities fund and the other funds in the range of multi-asset macro strategies.
The annual fee on the C and I share classes of the fund will be cut from 0.65 per cent to 0.6 per cent, “to align the fund with other similar funds in the range”.
Jasper Berens, head of UK funds at JP Morgan Asset Management, says: “With this fine-tuning, it should now be clearer what JPM Global Macro Balanced fund stands for and how it can serve as a complement to JPM Global Macro Opportunities fund in client portfolios or an alternative for clients looking for a more conservative balanced approach.”
Year to date the fund has underperformed its benchmark by 0.7 per cent, returning 4 per cent. Since the investment strategy was changed on the fund almost four years ago it has outperformed the benchmark by 0.4 per cent, returning 6.7 per cent.