J.P. Morgan Asset Management is merging its underperforming UK Focus fund into its UK Dynamic fund following a strategic review.
The £49m UK Focus fund has posted significant underperformance over one, three and five years, dropping to the bottom quartile of the UK All Companies sector. Conversely, the £153m Dynamic fund sits in the top quartile of the same sector, having consistently outperformed it over the same time periods. The two funds have a broadly similar investment objective, focusing on long-term capital growth by investing in UK equities. The newly merged fund will be managed by the team currently responsible for the Dynamic fund: John Baker, Jon Ingram and Blake Crawford (pictured). The merge...
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