JPM preparing to convert FTSE 100 vehicle into Oeic

JPMorgan is preparing to convert its UK Managed Equity fund from a unit trust to an Oeic and will ma...

JPMorgan is preparing to convert its UK Managed Equity fund from a unit trust to an Oeic and will market the product as a large-cap addition to the UK range. The fund launched as a rollover vehicle for the group's Managed Portfolio Pep, following the introduction of Mifid last year. It was originally targeted at direct clients and run as a 30-stock portfolio. Under Mifid however, there is a requirement to assess shares based on each investor's financial position and risk appetite. JPM decided to convert the portfolio to a unit trust, with flexibility to move to an Oeic to bring it i...