JP Morgan Asset Management is to launch a global mining fund on February 1, just weeks after it soft closed its Luxembourg-domiciled JPM Global Natural Resources fund.
Managed by Neil Gregson, the JPM Global Mining fund will focus on the mining sector.
It will tap the expertise of the group’s natural resources team and will invest primarily in companies engaged in mining or mining related activities. Gregson will typically hold between 50 and 100 stocks across all market capitalisations.
Gregson will focus on companies he expects to achieve growth of reserves and production, while at the same time identifying undervalued mining assets which will benefit the portfolio.
He joined last year, having spent 20 years within the natural resources sector, including a period running a mining fund at Credit Suisse Asset Management.
The global natural resources portfolio management team is understood to have raised concerns that if assets in the JPM Global Natural Resources fund continue to grow, it could affect the management of the fund and result in a hard closure.