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JPM to merge health funds

JP Morgan Asset Management is to merge its offshore global healthtech and global life sciences funds into a new healthcare vehicle.

The merger is set to take place in October with the new healthcare fund to be managed by the global sector team led by Anne Marden and Scott Braunstein, who worked on both the previous offerings.

The £11m global healthcare fund is managed by Nicole Vettise and the global sector team. It was launched in June 2000 and has fallen by 11.73 per cent in the past three years compared with a 12.69 per cent fall in the MSCI world healthcare index.

The £13.6m global life sciences fund is managed by Marc Shaw and Jonathan Price and the healthcare team. It launched in April 2000 and has fallen by 4.19 per cent compared with a benchmark increase of 6.4 per cent in the past three years.

Head of UK retail sales Mike Parsons says: “The funds follow very similar investment strategies but, by merging the two, inves- tors will be able to gain access to a wider investment universe.”

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