OPM seeds offerings from JPM and Axa via fund of funds range

OPM Fund Management has seeded funds from JPM and Axa through its Balanced Managed and Fixed Interest fund of funds.

Tony Yousefian, the chief investment officer, says OPM’s £18m Balanced fund put 2% of its assets into J.P. Morgan’s Brazil investment trust, launched in March. As a seed investor in the JPM fund, OPM received one free share for every share it bought The group also has 3.3% of its £37m Fixed Interest fund in Axa’s US Short Duration High Yield fund, which launches this month. Yousefian says: “Generally, new funds have the ability to start with a clean sheet of paper, and can construct their portfolios from scratch. They come with no baggage. “We also felt the shares may well trade at...