JP Morgan launches global absolute return fund

JP Morgan has launched a global equity absolute return fund for ex-Schroders manager Gary Clarke.

The JPM Global Equity Absolute Alpha fund, which launched today, is a UCITS III portfolio going long and short of global equities. Clarke, who already runs the group's £181m JPM Global fund, joined JP Morgan last year from Schroders where he was head of European equities. He is also working alongside Peter Kirkman on the group's Global Consumer Trends fund. Jasper Berens, head of UK retail, said: "Investors are constantly asking us how funds have done against cash, as they do not want nasty surprises. That is absolute return investing, and we believe that will become a core part of...