JPM US is merging with JPM US Select
20 April 2018
JP Morgan Ltd has decided to merge the JPM US fund with the JPM US Select fund on 28 April 2018.
JP Morgan Ltd has decided to merge the JPM US fund with the JPM US Select fund on 28 April 2018.
Funds and Products affected by closure
This affects customers invested in the following funds:
Sterling Bond
Sterling JPM US
Sterling JPM US 2
Zurich Pension
Zurich JPM US ZP
Sterling ISA and Sterling Investment Account
JPM US C Acc
On 28 April, we’ll switch your clients’ holdings as follows:
Sterling JPM US into Sterling JPM US Select*
Sterling JPM US 2 into Sterling JPM US Select 2*
Zurich JPM US ZP into Zurich JPM US Select ZP*
JPM US C Acc into JPM US Select C Acc*
*Please note, these funds aren’t currently in the Zurich and Sterling fund ranges but will be made available for the merger
In the meantime, here is a comparison between the merging and receiving funds:
| Fund objective | JPM US The fund aims to provide capital growth over the long term by investing primarily through a portfolio invested in the shares of US companies. |
JPM US Select The fund aims to invest in a portfolio of North American securities. The current policy is to invest for capital growth without any distribution target. |
| Sterling Bond fund charge | 0.88% | 0.65% |
| Zurich Pension fund charge | 0.88% | 0.65% |
| Sterling ISA/Inv Account fund charge | 0.90% | 0.90% |
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. You can download an example of the customer letter here