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JPM boosts multi-asset range with absolute return fund launch

JP Morgan Asset Management has launched a new multi-asset absolute return offering for James Elliot.

The JPM Multi-Asset Macro fund will use the best macro-economic ideas from the firm’s global multi-asset team.

The fund aims to provide an absolute return in excess of cash, irrespective of market direction and net of fees, over rolling 12-month periods.

Elliot is chief investment officer for the global multi-asset group for Europe and Asia. He will be assisted on the fund by Talib Sheikh and Shrenick Shah.

JPM head of UK fund sales Mike Parsons says: “There is significant demand within the UK for total return funds as evidenced by the growth in the IMA’s absolute return sector in recent years which has seen assets under management grow from around £3.7bn in 2008 to some £27.4bn in 2012.”



Axa Wealth sales slump 11% despite Elevate increase

Axa Wealth has reported an 11 per cent slump in sales during 2012 to £3.3bn, down from £3.7bn in 2011, blaming “difficult trading conditions” in the wealth market. The dip in overall sales is partly due to a slump in offshore bond sales, down 27 per cent from £962m to £699m. Axa says this was […]


Richard Hobbs: Is there a future for banks in investment advice?

Sometimes deciphering FSA press releases makes me feel the way a Kremlinologist might have felt during the Cold War. On its face, the mystery shopping exercise is a fairly predictable story of bancassurers unable get tight enough on compliance with the suitability rules, particularly around the vexed question of customers’ attitude to risk. But dig […]

Santander considers future of investment advice arm

Santander is carrying out a strategic review of its investment advice arm which could see the bank pull out of investment advice altogether, with 880 jobs at risk. Money Marketing understands Santander is being investigated by the FSA following a mystery shopping exercise into the quality of investment advice at six major banks and building […]

Cazenove MM team promotes Le Jehan to fund manager

Cazenove Capital has appointed Joe Le Jehan as fund manager of the £179m Cazenove Multi-Manager Global (ex UK) fund and the £127m Cazenove Multi-Manager UK Growth fund. Le Jehan will co-manage the funds as part of the multi-manager team alongside head multi-manager Marcus Brookes and Robin McDonald. Le Jehan has been a member of the […]


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