Manager of £1.5bn JP Morgan fund leaves firm

Manager of £1.5bn JP Morgan fund leaves firm

JP Morgan Asset Management’s international chief investment officer for multi-asset solutions and joint manager of its £1.5bn Global Macro Opportunities fund has left the company after almost a quarter of a century.

James Elliot had run the Global Macro Opportunities fund since 2013, and has been an employee since 1995. 

Over the past five years the fund has returned 34 per cent, compared with 5 per cent for the average fund in the IA Targeted Absolute Return sector in the same time period.

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A spokesman for JP Morgan said: "James Elliot has resigned from JP Morgan Asset Management, effective 28 March. Rob O'Rahilly, co-head multi-asset solutions, will directly manage James’ international investment oversight responsibilities.

"Existing portfolio manager Shrenick Shah will continue to manage the team’s global macro-thematic investment process. Shrenick will continue to follow the investment process he co-created in November 2012.

"There are no changes to the funds’ investment strategy. Maintaining continuity of the investment process is our top priority and we are confident in the strength and depth of our investment talent and our well-resourced, globally integrated multi-asset solutions team."

Gill Hutchison, research director at the Adviser Centre, said: "The fund is differentiated from other multi-asset solutions that reside in the IA Targeted Absolute Return sector and the product has been thoughtfully developed by the team.

"With this in mind, we are keen to meet with them in the coming months as the changes take effect. However, for now, the fund has been withdrawn from our service."