JP Morgan mulls specialist natural resources funds
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JP Morgan head of UK retail sales Jasper Berens says the firm may look at introducing a number of specialist products in the natural resources sector.
Berens says JPM has the capability to introduce funds such as a specialist oil fund, adding that investor demand is strong.
In February, JPM launched a global mining fund under the management of Neil Gregson. The £4m fund is down by 17.4 per cent since launch to October 28.
Gregson is to replace Ian Henderson on the popular £2bn JPM global natural resources fund from January. Gregson will also take on management of the global natural resources fund, which soft-closed in December 2010.
Berens says: “We do agree with Ian Henderson that commodities are in something of a super-cycle and introducing other specialist commodity funds is something we will continue to look at as we feel there will be demand for these types of products in the future.”
Hargreaves Lansdown investment manager Ben Yearsley says: “There will be demand for commodity products, it will just be a case of choosing the right ones that will suit the market longer term. You can easily pick areas which are too niche and may just be in-vogue at the time.”
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