JP Morgan Asset Management is to merge 17 Luxembourg-domiciled funds as part of a strategic review.
As part of this review, nine are being merged this month with a further eight to follow in September and November.
With the second set yet to be named, the initial nine mergers are as follows;
- JPMorgan Funds America Large Cap into JPMorgan Investment Funds US Equity
- JPMorgan Investment Funds Global Total Return into JPMorgan Investment Funds Global Capital Appreciation
- JPMorgan Funds Emerging Markets Infrastructure Equity into JPMorgan Funds Emerging Markets Equity
- JPMorgan Funds Europe Micro Cap into JPMorgan Funds Europe Dynamic Small Cap
- JPMorgan Funds Europe Dynamic Mega Cap into JPMorgan Funds Europe Dynamic
- JPMorgan Funds Euro AAA Rated Government Bond into JPMorgan Funds EU Government Bond
- JPMorgan Investment Funds Europe Bond into JPMorgan Funds Euro Aggregate Bond
- JPMorgan Funds Global Duration-Hedged Corporate Bond into JPMorgan Funds Global Corporate Bond
- JPMorgan Investment Funds Japan Focus into JPMorgan Investment Funds Japan 50 Equity
The move follows an announcement in July 2013 that JP Morgan would be liquidating eight of its Luxembourg-domiciled funds by 30 August 2013 as part of this strategic review.