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Fund Flash: JPM merges away 10 funds; Vanguard eyes blockchain tech

Fund Flash: JPM merges away 10 funds; Vanguard eyes blockchain tech

 Citywire Americas rounds-up the biggest news in the funds and Ucits investment universe as reported by Citywire’s global publications.

JPM AM merges away 10 funds

JP Morgan Asset Management merged 10 funds in a move to improve the efficiencies of its overall fund range.

The merged vehicles will feed into eight funds as part of plans coming into effect in February next year.

Part of the plans include consolidating different strategies currently run by the same managers into one approach. For example, the €14 million ($16.4 million) Europe Select Equity Plus fund, currently run by Ido Eisenberg, Rajesh Tanna and Francesco Sedati, will be moved into their €1.51 billion ($1.77 billion) JPM Europe Select Equity fund.

Fund changes in full:

  • JPM Euroland Select Equity fund, JPM France Equity fund and JPM Germany Equity fund merge into JPM Euroland Equity fund on 9 February 2018.
  • JPM Income Opportunity Plus fund merges into JPM Income Opportunity fund on 9 February 2018.
  • JPM Europe Select Equity Plus fund merges into JPM Europe Select Equity fund on 23 February 2018.
  • JPM Euro Short Duration Bond fund merges into JPM Global Short Duration Bond fund on 23 February 2018.
  • JPM Global Financials fund and JPM Global Select Equity Plus fund merge into JPM Global Select Equity fund on 23 February 2018.
  • JPM Highbridge Europe STEEP fund merges into JPM Europe Dynamic Fund on 23 February 2018.
  • JPM US Equity fund merges into JPM US Select Equity fund on 23 February 2018.
  • JPM US Equity Plus fund merges into JPM US Select Equity Plus fund on 23 February 2018. 

Vanguard eyes blockchain technology 

Vanguard is dabbling in blockchain technology.

The Pennsylvania-based shop has teamed up with the Center for Research in Security Prices (CRSP) and blockchain technology company Symbiont to develop what it hopes to be a cheaper, faster and more accurate index data distribution system.

The system will allow managers to instantly distribute, receive, and process index data, which could result in better benchmark tracking and significant cost savings, according to Warren Pennington, a principal in Vanguard’s investment management group.

HSBC frontier markets veteran exits

Veteran emerging markets manager Chris Turner left HSBC Asset Management, leaving behind the $409 million HSBC GIF Frontier Markets fund.

Following Turner’s exit, the HSBC Frontier Markets fund will be run by existing lead manager Ramzi Sidani alongside Talib Saifee. 

There will be no change to the fund’s investment process and the managers will be supported by a team of 12 investment professionals and 50 experts in regional offices.

Macquarie IM bolsters fund range 

Australian firm Macquarie Investment Management launched three diverse Luxembourg-domiciled, Ucits-compliant Sicav investment vehicles.

The first of the three is the Macquarie Absolute Return Mortgage Backed Securities (ARMBS) fund, which is set to enable global investors to access the firm’s existing ARMBS strategy that primarily invests in government-backed fixed income securities.

Brian McDonnell and Ion Dan will serve as lead managers and are supported by Macquarie IM's global fixed income team.

The firm also launched the Macquarie Global Multi-Asset Income fund. This aims to provide investors with current income and an investment that has the potential for long-term capital appreciation.

For its third launch in the latest batch Macquarie is targeting US smaller companies with a dedicated fund. This new approach seeks to generate long-term capital appreciation by investing in US small- to mid-cap companies.

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