L-R: Julia Faurschou, reporter at Investment Adviser, Dale Erdei, head of field sales at JPMorgan Asset Management, and Richard Romer-Lee, managing director at Square Mile Investment Consulting & Research
The JPM Global Macro Opportunities fund is managed by the trio of James Elliot, Talib Sheikh and Shrenick Shah, with the aim of providing positive returns over rolling three-year periods in all market conditions. It aims to do this through investing in securities globally, using financial derivative instruments where appropriate.
As a first time entrant to the IA 100 Club, this portfolio impressed the judges by being “quite convictional” in its investment approach.
The vehicle was launched in 2013 and sits at a risk-reward level of five out of seven, the latest factsheet shows. It currently favours equities over bonds with a 68.9 per cent allocation to the former.
The asset class risk breakdown of the portfolio includes 26.4 per cent related to currency and 19.9 per cent linked to advanced derivative strategies.
Meanwhile, in terms of investment themes the fund’s highest level of exposure is to the Europe gradual growth recovery trend at 19.2 per cent, while low inflation accounts for a further 17.9 per cent.
On a geographical basis the vehicle’s largest allocation is to North America at 26.2 per cent, while 19 per cent is invested in Japan and 10.1 per cent in both emerging markets and Asia excluding Japan.
What the judges say
This fund was praised for being risk aware, opportunistic and a “little bit braver” than some peers in reflecting their views.
