The board of the £78m J.P. Morgan Japanese Smaller Companies trust has fired a warning shot at manager JF Asset Management to turn around the company's lacklustre performance.
In the trust’s annual results the board said it has undertaken a review of the investment management process and expects a sustained improvement in performance. “We have undertaken a thorough review of the investment management process being employed by JFAM,” said the board. “As a result of the review, the board has made it very clear to JFAM that a sustained improvement in investment performance must be the first priority over the coming year.” As part of the move the trust’s manager David Mitchinson has relocated to Hong Kong where the management team is based. “Mitchinson h...
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