View more on these topics

Morgan looks to double IFA sales

JP Morgan Asset Management aims to double the amount of business it does through IFAs from £3.5bn to £7bn by 2012.

The firm says the target is not unrealistic as it is one of the few firms making positive returns in the current market.

Head of UK retail sales Michael Parsons says: “With sales up by £500m in the first half of 2008, we are one of a handful of fund firms that are producing a positive business in this current market while others are losing rather than making money.

“Sales at the moment are driven by cautious, defensive investments where we have a number of strong offerings. However, we are keen to ensure the likes of our UK, European and US ranges stay in peak condition when the market turns so investors continue to see us as leaders in the marketplace.”

JPM is also launching a sterling share class for its Highbridge statistical market-neutral fund.

The Luxemburg Sicav launched in 2006 and has grown to £1.75bn. The fund invests in US equities through a series of matched long and short investments.

Parsons says: “We want to push a vehicle like this, which investors could only previously access as a euro-denominated share class, as it does the job in a tough market like this one, something which the BlackRock UK absolute alpha fund has built a successful reputation upon.”

Plan Invest investment adviser Will Beighton says: “JPM is a group that we like and use for the likes of its natural resources and cautious total return funds.

“The firm will need to bring a few more of its funds out to IFAs to reach those targets if markets stay as they are.”

Recommended

The guide divide

We know that a week is a long time in politics so there are no surprises that a generation brings about enormous political changes.

TPD confusion poses problems

Axa is working with the Association of British Insurers to address problems over total permanent disability insurance.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com