JP Morgan Asset Management has promoted Simon Crinage to head up its investment trust business.
Crinage will report to head of UK funds management Jasper Berens and replaces David Barron, who left the firm earlier this year. The firm has 21 investment trusts accounting for £7bn of assets under management.
Crinage says: “The regulatory landscape changes caused by the implementation of RDR should also open up opportunities for the sector to reach the independent financial advice market, where it has historically been under-represented, and I look forward to leading the business in this new distribution era, as well as continuing to serve our more traditional client base.”
Crinage has been with the firm for 28 years, more than 10 of which have been within the investment trust team.
Bestinvest managing director Jason Hollands says: “JP Morgan is the largest manager of investment trusts and continues to be an innovator in the closed-end funds sector having recently announced plans to launch a Global Convertibles Income trust this summer.
Hollands adds: “Leading this franchise is therefore a big job.”