Investors lose focus on Americas funds, says J.P. Morgan
The popularity of Latin America and North America funds on WealthManager+, J.P. Morgan Asset Management’s online investment platform, has waned as investors increasingly look at other markets, including the UK, Asia and emerging markets.
The latest monthly sales figures from WealthManager+ show a greater variety of funds in the top 10s for net sales over the month, though the recent dominance of North American and Latin American funds, among third-party funds, remains. The only exception in the top five is Invesco Perpetual European High Yield. The rest of the top ten is dominated by income and emerging markets funds.
The platform offers funds and investment trusts from J.P. Morgan Asset Management (JPMAM) and more than 25 external managers.
JPM US retained the top spot for net sales overall in November — the position it has held since JPMAM first released data in September, while Allianz Brazil’s jump from fifth place to second pushed JPM US Smaller Companies and JPM UK Dynamic into third and fourth place, respectively.
JPM Asia, in fifth position, is a new entrant to the top 10 funds. The remainder of the top 10 overall is made up of an emerging markets fund, two UK investment trusts and two third-party Latin America funds.
Income is also a theme creeping into the net sales of J.P. Morgan Asset Management funds, where the seven JPMAM funds from the overall top ten are joined by JPMorgan American Investment Trust, JPM Global High Yield Bond and JPMorgan Elect – Managed Growth.
Keith Evins, head of UK funds marketing at J.P. Morgan Asset Management, said: “As we move into the closing stages of the year, it is interesting to note the continued appetite for Latin American funds, suggesting many direct investors still have a tilt towards growth, although income – whether from bonds or equities – remains popular too.
Evans added: “The breadth of strategies in the top 10 funds overall – from income-focused UK small and mid-cap (JPMorgan Mercantile) to Asia, the US and emerging markets, reflects not just the comprehensive offering available on the J.P. Morgan WealthManager+ platform but also perhaps the lack of consensus as to where the best opportunities will be found in 2013.”