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Chase Fleming rebrands again

Chase Fleming Asset Management is to undergo its second rebranding in less than a year, ditching both the Save & Prosper and Chase brands from its retail fund range.

The fund manager will rebuild its business under the JP Morgan Fleming brand from the end of April.

The Save & Prosper name, currently used for its direct channel and some unit trusts, will remain only for life business.

The unit trust range will be converted to an Oeic, with several funds set to be merged or liquidated during a full rationalisation of the group&#39s investment operations later this year.

The merged business will keep its two heads of equities – Fleming&#39s Martin Porter and Morgan&#39s Pablo Forero – in a bid to maintain both firms&#39 investment styles. JP Morgan does not currently run any onshore UK retail funds but says launches drawing from JP Morgan&#39s house style may be on the cards in the future.

The move follows Chase Manhattan&#39s acquisition of JP Morgan last September, which came just five months after its purchase of UK investment bank Robert Fleming.

The latest rebranding of the asset management division comes just 10 months after it consolidated under the Chase Fleming name.

The combined business becomes the world&#39s second-biggest active fund management operation after Fidelity.

JP Morgan Fleming managing director James Broderick says the firm&#39s immediate ambition is to become one of the major players in the UK market.

He says: “We may be the second-biggest active fund manager in the world but we are not the second-biggest in the UK.

“The Save & Prosper brand does not deliver our message. We want to talk to people about investing, not saving. JP Morgan Fleming reflects the depth we are bringing to the retail marketplace.”

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