JPMorgan Asset Management is planning to expand one of their European hedge funds into the UK market in the coming weeks, according to FT.
The JPM Highbridge Statistical Market Neutral fund was launched in Luxembourg in 2006 and has had great success from retail investors wanting access to hedge fund techniques. The hedge fund has raised over £5.14 billion ($10 billion ) since November 2006.
Michael Parsons, head of UK retail sales described the offering as being attractive to those who "don't want long exposure in US markets" but are still looking for an attractive investment opportunity, FT said. On the back of the success of this, JPMAM is to distribute the fund in the UK with a sterling hedged share class.
JPMorgan Chase & Co. is a leading global financial services firm with assets of $1.6 trillion and operations in more than 60 countries.