The group is planning to chop 100 of its 650 funds worldwide in a bid to streamline and simplify its fund range. This includes the 49 funds merged away as part of its fund rationalisation across Europe announced at the end of August. The group also has eight further Sicav sub-fund mergers in scope, which will be completed in late 2013/early 2014
In an interview with the Financial Times, JP Morgan Asset Management’s global mutual fund chief George Gatch said: “There has been a proliferation of mutual funds around the world and I think it’s sensible for us to try and simplify our line-up.
“With hindsight, I can say that over the years, some of our strategies and product launches have not been done in a thoughtful way so we are going back and making sure our product line-up makes sense.”
The group is planning to introduce active strategies within ETFs, but recent launches have tended to focus on income strategies, such as the launch of convertibles and North American income funds.
