JPMAM to relaunch Sheikh's former fund as absolute return mandate

Changes will include a new benchmark

J.P. Morgan Asset Management (JPMAM) is relaunching a fund formerly run by Talib Sheikh, the JPM Global Macro Balanced fund, moving away from a fixed income-focused strategy to a flexible absolute return mandate and using derivatives.

JPMAM is changing the investment mandate of the Macro Balanced fund and renaming it in recognition of the updated strategy.  Under the proposals, the firm said the fund will use derivatives for downside protection with the potential for "better performance in changing and adverse market conditions and higher prospects for growth". As well as a new name - the JPM Global Macro fund - the changes will include a new benchmark, risk profile, investor profile and global exposure calculation method. The fund will also move to the IA Targeted Absolute Return sector. The £117.88m fund has b...