JPMAM soft-closes European long/short fund as inflows soar

J.P. Morgan Asset Management (JPMAM) is soft-closing its offshore European long/short fund as inflows into the product soar, just months after it closed a separate European equity portfolio.

The JPM Europe Equity Absolute Alpha SICAV fund, launched in December 2013, has already grown to €620m (£461m) in size. The group feels any further inflows at this fast pace would compromise the fund's ability to generate alpha. The fund, co-managed by David Allen, Nicholas Horne and Michael Barakos, will be soft-closed on 13 February. After that date, only existing investors will be able to put more money into the fund, with a maximum daily limit of €1m or an equivalent currency. In October, the group announced the soft-closure of the team's Europe Equity Plus fund, which sits ...