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Fund Flash: JPM triple fund closure / Eaton Vance EM fund launch

Fund Flash: JPM triple fund closure / Eaton Vance EM fund launch

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

JPMorgan closes funds in rationalization push

JPMorgan Asset Management closed three funds as part of a rationalization of its fund range.

The JPMorgan Funds – Europe Dividend Alpha fund that was managed by Thomas Buckingham and Philippa Clough was closed in late 2017 following client redemptions.

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 unveils Ucits

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 EMD co-head steps back 

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.

 

 

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Related Fund Managers

Polina Kurdyavko
Polina Kurdyavko
67/173 in Bonds - Emerging Markets Global Hard Currency (Performance over 1 year) Average Total Return: 4.58%
David Dowsett
David Dowsett
67/122 in Bonds - Emerging Markets Global Hard Currency (Performance over 3 years) Average Total Return: 13.19%
Yazann Romahi
Yazann Romahi
51/82 in Alternative UCITS - Multi Strategy (Performance over 3 years) Average Total Return: -3.53%
Danat Abdrakhmanov
Danat Abdrakhmanov
24/55 in Alternative UCITS - Global Macro (Performance over 1 month) Average Total Return: -0.55%
Eric Stein
Eric Stein
11/30 in Alternative UCITS - Global Macro (Performance over 3 years) Average Total Return: 1.82%
Raffaele Zingone
Raffaele Zingone
181/447 in Equity - US (Performance over 3 years) Average Total Return: 25.90%
Steven Lee
Steven Lee
558/662 in Equity - US (Performance over 3 months) Average Total Return: -3.78%
Philippa Clough
Philippa Clough
436/838 in Equity - Europe (Performance over 3 months) Average Total Return: -1.64%
Thomas Buckingham
Thomas Buckingham
392/782 in Equity - Europe (Performance over 1 year) Average Total Return: 15.47%
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