The JPM Global Equity Absolute Alpha Fund, which is UCITS III compliant, seeks to provide absolute returns by beating LIBOR over rolling 12 month periods and offers investors the chance to capitalize on investment opportunities in both rising and falling markets, anywhere in the world.
It will target an absolute return of cash plus 3%-5%, mainly through taking both long and short positions in global equities and equity linked securities, said the company.
According to JP Morgan, the new fund will be managed by the global equities team in London, the same team responsible for the JPM Natural Resources Fund and the JPM Global Consumer Trends Fund.
It will be led by fund manager Gary Clarke who joined JP Morgan Asset Management from Schroders in 2010, where he was Head of European Equities.
JP Morgan Asset Management head of UK intermediary sales Jasper Berens said through the launch of the JPM Global Equity Absolute Alpha Fund, JP Morgan Asset Management will inject its proven expertise and insight into the sector and they wholeheartedly believe it will deliver on its target return.
The fund will operate with a reduced annual management charge of 1.25% per annum and fixed expenses of 0.18% per annum, and will charge an additional 10% performance fee.
