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

Exploring the effects of shake-up

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