JP Morgan AM extends JPM Italy Flexible Bond Fund to Italian investors
JP Morgan asset management has launched in Italy its JPM Italy Flexible Bond Fund, a fund which invests in Italy’s bond market.
Italy Flexible Bond Fund is an open-end fund incorporated in Luxembourg, which aims at achieving a return in excess of Italian government bond market by investing in debt securities issued or guaranteed by the Italian government or its agencies.
The fund, managed by the global fixed income team headed by Nicholas Gartside, was initially launched in July.
According to the firm, JP Morgan AM will leverage substantial investments made by Italian retail investors into the public debt of the country, which unlikely neighbouring Spain has not been victim of a real estate bubble.
The fund aims at a 2% return against the benchmark.