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JP Morgan Asset Management bolsters fixed income capability

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JP Morgan Asset Management is launching a strategic bond fund on 6 May, which will be managed by Bob Michele.

JP Morgan Asset Management is launching a strategic bond fund on 6 May, which will be managed by Bob Michele.

The JPM Strategic Bond Fund will be a ‘best ideas’ global bond fund unconstrained by benchmarks or static sector weights.

It is intended that the portfolio will be diversified with broad allocations across global fixed income and currency markets, having the ability to invest in any market or sector including high yield debt and emerging markets in order to achieve its target of three per cent above its benchmark, the Merrill Lynch GBP Broad Market Index.

Michele, who joined JP Morgan Asset Management as global chief investment officer of fixed income in September 2008, is a proven investment leader with over 25 years’ experience.

J.P. Morgan Asset Management’s commitment to global fixed income has been further enhanced by the hires of several highly experienced fixed income professionals such as Lisa Coleman and Stephen Lear as well as several credit analysts around the world.

In addition, it has used the services of a number of key professionals from the Bear Stearns acquisition.

Jasper Berens, head of UK retail sales, says:"With certain yields at historic highs and corporates keen to access limited capital supplies, bond markets may currently present some investors with a solution to meet their income needs. Financial markets have experienced high levels of volatility since the global economic downturn began in summer 2007. Frozen credit markets, bank failures and the global recession have contributed to a flight to quality, with investors increasingly looking to reduce risk in their portfolios and bond sectors have greatly benefited from this. The concern investors now have is what bond funds and sectors should they hold in the future? The JPM Strategic Bond Fund answers that question because of its go anywhere flexibility and capability, even though this will mean a higher risk profile for the fund.’

Michele adds: "I am excited about the launch of the JPM Strategic Bond Fund.  As a management team, we have worked hard over the last several months to hire in talent where we had gaps. JP Morgan Asset Management has the resources and talent now to be considered a powerhouse in global fixed income. The Strategic Bond Fund will encapsulate all our best thinking and I look forward to taking this fund out to the UK Advisory market and showing people our expertise."

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