JPMAM developing closed-end convertibles fund.

Investment Adviser, January, 2008

JPMorgan Asset Management is looking to bring a closed-end convertibles fund to market.

James Saunders Watson, head of investment trust marketing at JPMorgan, confirmed the team was testing a new version of its AGBP2bn open-ended Global Convertible Bond fund.

Convertibles are hybrid instruments, which marry the defensive qualities of a fixed income security with the upside potential in the underlying equity price.

Mr Saunders Watson said: "It is something we are looking at, although we are not quite there in terms of finalising the details. The whole convertible space is extremely interesting, particularly when markets are volatile.

"It is about looking for strategies that will give you equity-type characteristics on the upside...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.