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JP Morgan shuts £2.3bn Natural Resources Fund

By International Adviser, 27 Jun 11

JPMAM has closed its flagship £2.3bn Global Natural Resources Fund on fears it is grwoing too big.

JPMAM has closed its flagship £2.3bn Global Natural Resources Fund on fears it is grwoing too big.

The Luxembourg domiciled Sicav, managed by veteran commodities manager Ian Henderson, was closed to new investors on 10 December although existing investors will still be able to invest.

In a statement, JPMAM said the fund had attracted a “large amount of assets under management” and, “although the fund is still not at a point where it can no longer pursue its stated investment strategy, the portfolio management team have noted that, if the fund continues to grow, that may be the case.”

JPMAM added that in order for the fund to continue to meet its objectives and protect the interest of existing investors, it had taken the decision to soft close the fund.

According to TrustNet, the fund has returned 46% and 39% over one and three years respectively, compared with an IMA Specialist sector average of 16% and 14%.
 

Tags: JP Morgan

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.