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JP Morgan soft closes offshore global natural resources fund

JP Morgan Asset Management has soft closed its Luxembourg-domiciled £2.7bn global natural resources fund.

As of December 10, 2010, all future investments into the fund have been restricted to existing investors only.

The JPM global natural resources portfolio management team is understood to have raised concerns that if assets continue to grow it could affect the management of the fund and result in a hard closure.

JPM global natural resources is managed by Ian Henderson. A spokesman for JPM says the group has no intention of soft closing the £2.5bn onshore natural resources fund, which Ian Henderson has managed since 2000 and which runs a similar investment strategy.

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