J.P. Morgan repositions Brazil Alpha Plus fund

J.P. Morgan is set rename its £447m Brazil Alpha Plus fund and increase its net long positions next month.

From 16 August the fund, headed up by Sebastian Luparia, will be renamed the Brazil Equity fund, with a more rigid net market exposure. Previously the fund could go as low as 10% net long but from next month the group will increase this limit to between 80%-100%. The fund's investment objective, to provide superior long-term capital growth by investing primarily in a concentrated portfolio of Brazilian companies, will remain unchanged. "We have taken the decision to bring the fund into line with our other single country focused offerings which will see the net market exposure range...