JPM's $5.6bn convertibles head to run Capital Structure Opps fund

J.P. Morgan Asset Management (JPMAM) has launched a Global Capital Structure Opportunities fund that will invest across equities, bonds and convertible bonds.

JPMAM said the SICAV's strategy will mean managers will be able to select individual high conviction companies and then select the most appropriate instrument within their capital structure. The fund will be managed by J.P. Morgan Asset Management's global head of convertible bonds Antony Vallee, assisted by Robin Dunmall and Natalia Bucci. It will target a return of 2% over a blended benchmark - 80% Barclays Global Aggregate Corporate index (gross total return), and 20% MSCI World index (net total return). Both indices are euro hedged. Vallee currently manages $5.6bn in assets and...