J.P. Morgan plans Brazilian IT launch

J.P. Morgan Asset Management is to launch the JPMorgan Brazil Investment Trust in a bid to tap into the country's rising economic growth.

The Trust will have a target size of £50m and managers Sebastian Luparia and Luis Carrillo aim to have 25 to 50 holdings. There will be no hedging of currency exposure and the portfolio will diverge substantially from the benchmark constituents. The company will measure its performance against the MSCI Brazil 10/40 Index. JPMAM says the South American country is widely tipped as the growth story of 2010 but historically investment has been lower than in other emerging markets. Using a bottom-up stock selection strategy, it will focus on investing in stocks that capitalise on Brazil’s ...