JPMAM merges UK funds as it delays secondary closure due to 'operational constraints'

UK Equity Value and UK Equity Income

JP Morgan Asset Management is seeking to tighten up its portfolio offering after proposing a merger with two of its UK equity funds.

The asset manager has proposed combining the JPM UK Equity Value and JPM UK Equity Income funds due to perceived "limited growth" in the former, according to a letter sent to shareholders dated 29 August. According to the authorised corporate director (ACD), shareholders in the value fund will "benefit from investing in a fund with better prospects for stronger growth in assets in the future". "This growth can lead to economies of scale with the potential for lower fund expenses," it said. JP Morgan AM slashes fees across four funds and flags several poor performing strategies T...