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J.P. Morgan AM launches second renminbi share class
J.P. Morgan Asset Management (JPMAM) has announced that a share class hedged to the renminbi is being launched for the JPMorgan Multi Income Fund, which becomes the second fund among its fund range to carry a renminbi share class
The Asset 8 Apr 2014

J.P. Morgan Asset Management (JPMAM) has announced that a share class hedged to the renminbi is being launched for the JPMorgan Multi Income Fund, which becomes the second fund amongits fund range to carry a renminbi share class.

  
Following the successful launch of its first renminbi share class for JPMorgan Asia Equity Dividend Fund on March 17, JPMAM decided to add the same currency share class to another fund within a short period of time because of the increasing demand in the market. 
 
Eddy Wong, head of intermediary business at JPMAM, said, “Since there are limited choices of renminbi-denominated investments available in the market, the launch of a renminbi share class for our funds has been well-received by distributors and investors. We believe this launch provides investors with new investment opportunities for their RMB holdings via a diversified global portfolio of income producing equities, bonds and other securities.” The minimum investment amount with the new share class is only 16,000 renminbi and subscriptions can be done through any renminbi bank account.
  
Prior to the launch of the new renminbi share class, the Fund has been offering eight currency choices, namely, USD, HKD, AUD hedged, CAD hedged, euro hedged, GBP hedged, NZD hedged and SGD hedged classes.
 
Jonathan Lowe, fund manager of JPMorgan Multi Income Fund said. “The Fund is an attractive investment vehicle for investors seeking a combination of income opportunities and asset class diversification. Given our expectation that market volatility will rise as interest rates normalize, an income-oriented multi asset class strategy should be able to provide some of the potential upside returns from equities, but without the full risk exposure that investment in equities alone would imply. By expanding our share class range to include a renminbi  denominated alternative, those investors with significant RMB holdings can now get exposure to the Fund in their desired currency of denomination.”
 
The fund is designed to maximize income opportunities from a broad range of asset classes including high yield bonds, emerging market bonds, convertible bonds, global equities, emerging market equities and real estate investment trusts , and aims to provide monthly distribution to investors. To diversify risk, the Fund currently has more than 1,500 securities in the portfolio. The average rating of the Fund’s bond holdings is BB. The Fund’s annualized volatility since launch is only 7.47%. 
 
 

 

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