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.”