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JP Morgan giving free rein to Euro managers

JP Morgan Fleming Asset Management is tapping into European markets with a UK-domiciled Oeic.

The Europe dynamic (excluding UK) fund is jointly managed by James Elliot and Ajay Gambhir, who will focus on absolute rather than relative returns. The managers will have unconstrained stock selection and no index-weighting limitations.

The fund, which is available for Isas and Pep transfers, is expected to hold about 50 to 100 stocks. It has an annual charge of 1.5 per cent and initial charge of 5.5 per cent. Minimum investment is a £1,000 lump sum or £100 monthly.

Elliot says: “If we do not like a stock, we do not own it. Irrespective of benchmark weighting, every stock has to be in the fund on its own merits. This way we can ensure the fund will invest in our best European stock ideas, capitalising on the attractive value and growth stock opportunities that we believe will lead to sustained, strong levels of performance through varying conditions.”

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