JPMorgan Asset Management is to launch a global best ideas bond fund under Bob Michele, the chief investment officer of fixed income, who JPMorgan poached from Schroders last year.
The JPM Strategic Bond fund will launch on May 6 and be unconstrained by benchmarks or sector weightings.
The move follows the launch last month of of five offshore bond funds, which are run by Michele with Lisa Coleman and Stephen Lear, fixed income managers who also joined from Schroders.
JP Morgan says the fund will be able to invest in any market or sector from high yield debt to emerging markets, using the best ideas from the team and credit analysts. The target is to achieve 3% above the Merrill Lynch GBP Broad Market Index.
JPMAM bond portfolios to target stable returns