Citywire Americas rounds-up the biggest news in the funds and Ucits investment universe as reported by Citywire’s global publications.
JPMorgan Asset Management closed three funds as part of a rationalization of its fund range.
Meanwhile, the JPMorgan Funds - Global Merger Arbitrage fund managed by Yazann Romahi was also liquidated along with the JPMorgan Funds - Global Multi Asset Portfolios fund.
The third strategy cut was the JPMorgan Funds - US Select Long-Short Equity fund. It was merged into the JPMorgan Funds - US Opportunistic Long-Short Equity fund managed by Rick Singh and Steven Lee in December last year.
Thomas Buckingham, Philippa Clough, Yazann Romahi and fund managers of the merged US strategy Steven Lee and Raffaele Zingone continue to be fund managers at the firm.
Eaton Vance launched a Ucits version of its emerging markets local income fund.
The Eaton Vance International (Ireland) Emerging Markets Local Income fund, is managed by co-directors of global income, Citywire A-rated Michael Cirami and + rated Eric Stein, as well as director of global portfolio analysis, A-rated John Baur and portfolio manager Danat Abdrakhmanov.
The Ireland-registered Ucits fund is a mirror of the Eaton Vance Emerging Markets Local Income strategy, that has been available to investors in the US for more than a decade.
The fund invests in fixed income securities denominated in currencies of EM countries, or issued by EM sovereigns and corporates.
BlueBay's emerging market debt co-head David Dowsett will no longer manage funds as he takes on a new role as strategic emerging markets adviser.
As an advisor Dowsett will look into structural trends in the emerging markets space.
He previously managed and co-managed seven strategies, the biggest one being the BlueBay Emerging Market Bond fund, with around €899 million ($1.1 billion) under management.
In the meantime Polina Kurdyavko, who previously was co-head of the department together with David Dowsett, will manage the team on her own starting from July 2018.