View more on these topics

JPMorgan to launch Brazilian investment trust

JPMorgan Asset Management plans to launch an investment trust investing solely in Brazil, with a target size of £50m.

Managed by Sebastian Luparia, the JPM Brazil investment trust aims to invest in 25-50 Brazilian companies and will be benchmarked against the MSCI Brazil 10/40 index.

The offer period for ordinary shares is expected to begin tomorrow, and will close on April 16 after which time trading will commence. In addition to subscribing to ordinary shares at launch, investors will be offered a bonus issue of subscription shares on a one-for-five basis.

The trust will be the first that invests solely in Brazil, with BlackRock managing a Latin American trust.

David Barren, head of investment trusts at JPM, says the portfolio will have a bias to mid- and small-cap holdings so as to benefit from Brazil’s domestic economic growth.

The trust adds to the group’s existing China, Russia and India closed-ended-vehicles, which combined total £933.5m in assets under management.
In total JPM runs some £333m in Brazil only equity mandates which includes the Brazil Alpha Sicav. In total the group manage $1.4 billion in Latin American regional portfolios.

Luparia is based in the group’s Argentina office and has worked at JPM for 14 years. He will work on the fund with Luis Carrillo, who is head of JPM’s Latin America desk.

Recommended

1

MD Golder leaves Bankhall

Bankhall managing director David Golder has left the Sesame Bankhall Group. Sesame Bankhall chief operating officer Stephen Young will take over responsibility for the business from Golder. Friends Provident-owned Sesame bought Bankhall from Skandia in October last year. After the deal, Golder,who was managing director for IFA services, was made managing director of Bankhall while […]

Advisers braced for China correction

Advisers are bracing themselves for a short-term correction in the Chinese market as monetary policy tightening takes the steam out of the rally. Skerritt Consultants head of investments Andy Merricks says a short-term market correction is almost certain although the long-term story is “irreversible”. He says: “My main concern is over the fiscal tightening. If […]

2016 Global Survey of Individual Investors: How is investor behaviour rewriting the job description for financial professionals?

Trapped between expectations for near double-digit returns and strong apprehensions about investing in persistently volatile markets, investors worldwide are of the opinion that professional financial advice is worth the fee. But even though they believe individuals who work with a financial professional are more likely to achieve their goals, investors have a clear vision of […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment