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JP Morgan to launch discretionary service and fund of funds range

JP Morgan Asset Management is launching an actively-managed discretionary portfolio service and a fund of funds range.

JP Morgan Adviser Solutions will launch during the first quarter of 2013 and will include the discretionary service JPM Elite Portfolio and fund of funds range JPM Fusion Funds.

The JPM Elite Portfolio range will include six whole-of-market, actively-managed, risk-graded portfolios.

The fund of funds JPM Fusion range will consist of five actively-managed funds, “strategically positioned” on the risk spectrum. It will draw on the asset allocation, fund selection and risk control systems from the JP Morgan Private Bank.

Head of UK funds business Jasper Berens (pictured) says: “JP Morgan Adviser Solutions has been built to help advisers who wish to outsource their clients’ investments, to do what they feel they do best, which is financial planning.”

The Fusion range will carry an annual management charge of 0.75 per cent, while the the standard charge for the Elite Portfolio range will be 0.6 per cent.

Wingate Financial Planning director Alistair Cunningham says: “The market in risk-rated, multi-asset funds is growing exponentially, but because it does not yet have a few years’ track record we will not be using it.”

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