JP Morgan Asset Management fund manager Ian Henderson is to step down from day-to-day fund management of the firm’s flagship £2bn natural resources fund.
Henderson steps down from both the natural resources and the global natural resources funds in January next year with full responsibility for the funds passing to Neil Gregson, who has worked alongside Henderson on the funds for the past 12 months.
From March 2012, Henderson will remain in an advisory role to assist Gregson on the funds.
Gregson joined JPM’s natural resources team in September 2010, he spent almost 20 years at Credit Suisse Asset Management, during which time he was head of emerging markets and related sector funds.
The JPM natural resources fund is a huge IFA favourite. It sits in the specialist sector and has returned over 53 per cent in three years. Henderson has managed the fund since October 1992.
JPM soft-closed its Luxemburg domiciled global natural resources fund in December 2010.
JPM head of UK retail Jasper Berens says: “For over 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 and we have no doubt that under his leadership, the funds will continue to go from strength to strength.
Henderson says: “The world of natural resources and the investment opportunities within the sector remain as compelling now as ever and I am still very much a believer in the commodities super-cycle. I have been aware of Neil’s expertise for many years and have had the pleasure of working closely with him for over a year. We share a very similar style of investment and he has already made his mark. He is the natural successor to take these funds forward.”