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JPM AM ups restrictions on $4.7bn Euro equity fund

JPM AM ups restrictions on $4.7bn Euro equity fund

JPM Asset Management has imposed investment restrictions on its €4.46 billion ($4.7 billion)  Europe Equity Plus fund after experiencing a huge increase in assets.

Existing investors in the fund – which was soft-closed in October 2014 – now have a dealing restriction, which mean they would have to invest a minimum of €10 million ($10.7 million) if they wish to increase their exposure to the fund.

The fund, which is overseen by Citywire A-rated Michael Barakos and portfolio manager Nicholas Horne, had undergone the same limitations first in April 2016 but these were relaxed in June of last year.

Speaking to Citywire Americas' sister site Citywire Selector, a spokesperson said JPM AM had used various capacity management measures to safeguard investor interest for existing shareholders since first closing it in 2014.

The imposition of more stringent restrictions comes four months after JPM AM announced it would re-open the JPM Europe Equity Absolute Alpha fund, which is also overseen by Barakos and Horne.

The JPM Europe Equity Plus fund returned 26.6% in euro terms against a 25.3% rise by its Citywire-assigned benchmark, the FTSE World Europe TR EUR, over the same three year period to the end of March 2017.

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