Fund launches & closures

JP Morgan group launches new global equity absolute alpha fund

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JP Morgan Asset Management has launched another absolute return UCITS fund, citing increasing investor demand for products that can be benchmarked against cash.

Last week the asset manager launched a UCITS-compliant version of its existing Japan market neutral strategy (see earlier story).

UCITS-compliant JPM Global Equity Absolute Alpha Fund seeks to provide absolute returns by beating Libor over rolling 12 month periods and offers investors the chance to capitalise on investment opportunities in rising and falling markets, anywhere in the world, according to a statement from the firm.

JP Morgan adds that the fund will target an absolute return of