Equities  

JPMorgan closes eight Sicavs as part of strategic review

JPMorgan will shut eight Luxemburg-domiciled Sicavs next month as part of an overhaul of its fund range that has already seen a number of UK-based funds closed or be merged away.

The Global Agriculture fund, Global Infrastructure Trends fund, Japan Small Cap fund, Pacific Technology fund, Japan Behavioural Finance Equity fund and the JPMorgan Series II Funds will all be shut down on August 30.

The move follows the merger of the £276.6m UK Equity fund into the £5.8m Strategic Growth fund, and the £17m Emerging Market Infrastructure merger with the £1.1bn Emerging Markets fund, while the Global Mining fund and the Balanced Total Return fund are set to close.

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The Sicav versions of global mining and UK Equity will also be liquidated, following the removal of their Oiec counterparts.

“These liquidations were identified as part of a comprehensive, strategic review of the overall JP Morgan Asset Management fund range, with the aim of simplifying and improving the offering, ensuring that shareholders have access to a broadly diversified and innovative product range,” the company said in a statement.