JP Morgan Asset Management fund manager Ian Henderson is stepping down from the day-to-day running of the firm’s flagship £2bn natural resources fund.
Henderson will pass the management of the natural resources and the £2.4bn global natural resources funds to Neil Gregson in January.
Gregson has worked alongside Henderson on the funds for the past year. From March 2012, Henderson will take on an advisory role for 12 months to assist Gregson on the funds.
The JPM natural resources fund is in the specialist sector and has returned 53 per cent in three years. Henderson has been running the fund since October 1992.
JPM soft-closed its Luxemburg-domiciled global natural resources fund in December 2010 but says there are no plans to close the onshore version.
Gregson joined JPM’s natural resources team in September last year. He spent almost 20 years at Credit Suisse Asset Management, during which time he was head of emerging markets and related sector funds. JPM launched the £4m global mining fund for Gregson in February.
JPM head of UK retail Jasper Berens says: “For more than a year, Neil Gregson has worked closely alongside Ian Henderson and the funds’ investment team on the JPM natural resources and JPM global natural resources funds.
“Ian has chosen Neil as his successor as lead manager on the funds, which is testament to Neil’s calibre as a fund manager.
“We have no doubt that the funds will continue to go from strength to strength under his leadership.”
Hargreaves Lansdown investment manager Ben Yearsley says: “Neil Gregson has been there for a while and Ian Henderson is going to be around on the fund in some capacity for some time, so there is no real change.”