JPMAM's revamp of American Investment Trust: How does the portfolio look now?

Exploring the effects of shake-up

David Brenchley
JPMAM has slimmed down holdings in its American Equity IT to around 40 stocks

JPMAM has slimmed down holdings in its American Equity IT to around 40 stocks

J.P. Morgan Asset Management (JPMAM) hopes a change in investment process similar to the one it implemented in its America Equity SICAV in 2011 can re-invigorate investor appetite for its 138-year-old American Investment Trust (JAM).

Fiona Harris, investment specialist for US equities, explained to Investment Week that eight years ago JPMAM's flagship SICAV fund had a "very diversified", core equity-style portfolio but performance had struggled and, consequently, it was not attracting new investors: "People were [either] going to passive or higher-alpha potential", she said. As a result, in August 2011, JPM America Equity saw its portfolio slimmed down to around 40 stocks and moved to a blend of value, run by Jonathan Simon, and growth, run by Timothy Parton. The decision paid off and the SICAV is five times larger t...

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