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JP Morgan Life Ltd fund mergers

23 January 2018

JP Morgan Life has told us it’s merging some of its fund range on 23 March 2018.

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Funds and Products affected by closure

This affects customers invested in the following funds through the Zurich Pension:

JP Morgan Life Continental Europe Equity
JP Morgan Life Global Equity


On 23 March we’ll switch your clients’ holdings as follows:

Zurich JPM Life Continental Europe Equity ZP into
Zurich JPM Life Continental Europe Select Equity ZP*


Zurich JPM Life Global Equity ZP into
Zurich JPM Life Diversified Equity ZP*


*Please note, these funds aren’t currently in the Zurich Pension fund range but will be made available for the merger

In the meantime, here is a comparison between the merging and receiving funds:

   JPM Life Global Equity  JPM Life Diversified Equity
Fund Objective The JPMorgan Life Continental Europe Equity Fund (the ’Fund’) is a pooled life fund for pension schemes investing primarily in European equities (excluding UK) either directly or through other funds and may have exposure to smaller companies on an ancillary basis. The Fund seeks to achieve excess return through style analysis and stock selection. The Fund is well diversified and under normal circumstances, is fully invested, with cash holdings kept to a minimum. The JPMorgan Life Continental Europe Select Equity Fund (the ‘Fund’) is a pooled life fund for pension schemes investing primarily in European equities either directly or through other funds. The Fund seeks to achieve excess return through stock selection. Normally the Fund only invests in equities issued by companies that are listed in Europe (excluding UK), which may include emerging European markets and smaller companies on an ancillary basis. The Fund is well diversified and under normal circumstances, is fully invested, with cash holdings kept to a minimum.
Fund charges

0.25%

0.25%
 Fund Objective The JPMorgan Life Global Equity Fund (the ‘Fund’) is a pooled life fund for pension schemes investing primarily in global equities normally through other JPMorgan Life funds. The Fund may also hold derivatives. The Fund seeks to achieve excess return through both stock selection and asset allocation. The Fund is well diversified and under normal circumstances, is fully invested, with cash holdings kept to a minimum.

The JPMorgan Life Diversified Equity Fund (the ‘Fund’) is a pooled life fund for pension schemes investing primarily in global equities and global property securities through other JPM funds. The Fund seeks to achieve excess return through fund selection, as well as regional and country allocation. The Fund will have a bias towards the UK. The Fund may invest in funds which use derivatives for investment purposes. It may also use derivatives for efficient portfolio management or reduction of investment risk. The Fund is well diversified, and under normal circumstances is fully invested, with cash holdings kept to a minimum.

Fund charges

0.25%

0.25%
Things to note  

Although this fund also has a bias towards the UK, it doesn’t hold as great a percentage as the JPM Life Global Equity fund. It also has greater exposure to Emerging Markets and Global Property Securities.

 

How will we communicate these changes?

We’ll write to you with a list of your clients invested in these funds. We’ll also write to your clients but if any of them contact us, we’ll strongly advise them to contact you for more information.


Download JPM Continental Europe Equity notification
Download example of customer letter 

Download JPM Global Equity notification
Download example of customer letter