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JP Morgan looks to add more low-cost funds

JP Morgan Asset Management head of UK retail sales Jasper Berens says he would like to launch more low-cost active managed funds designed to be an alternative to the passive market.

Last week, revealed that JPM is launching a low-cost active fund, which it claims may be the first “RDR-ready” Oeic with adviser commission stripped out.

The JPM UK active index plus fund is a rebrand of the firm’s UK active 350 offering and will have a maximum total expense ratio of 0.55 per cent. This includes a 10 per cent performance fee which is capped to ensure the TER does not pass the 0.55 per cent mark.

Berens says: “If this succeeds, we want to offer more of these products in core areas of the market like Europe, the US and global offerings. I see no reason why IFAs will not find this proposition compelling.”

Chelsea Financial Services managing director Darius McDermott says: “I think we will see more of these enhanced tracker-type funds as cost pressures on active funds, which are not top-quartile performers, continue to grow.”


Tisa sets 11 day limit for platform re-reg process

The Tax Incentivised Savings Association has issued an industrywide service-level agreement for the re-registration of assets between platforms and says the the process should take prov-iders no more than 11 days. Tisa’s platform re-registration project has built on work by the UK Market Practice Group and aims to streamline and fully automate the transfer of […]

Aberdeen plans two bond fund launches

Aberdeen Asset Management is launching onshore versions of its Luxemburg-domiciled emerging market bond and high-yield bond funds in March. As revealed in this week’s Money Marketing, the emerging market bond fund will consist of a mixture of hard and local currency, with sovereign and corporate debt, while the high-yield bond fund will look to offer […]


Government considers fresh non-dom tax

The Government is considering a new levy on non-doms as the Treasury seeks new revenue to fund lifting the income tax threshold, according to reports. The Sunday Times says the new levy would replace the current £30,000 annual charge on non-doms living in the UK over seven years and could be used to lift the […]

Life begins at…

By Fiona Holmes, proposition communications manager Having reached a certain age (it’s the new 40 by the way), I’m having to come to terms with the fact that my peers and I aren’t as immune from illness or death as we’d like to think. That’s the problem with 30 being the new 20 and 40 […]


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