J.P. Morgan has reportedly agreed to pay an £8bn ($13bn) fine as part of a settlement with the US over its role in the mortgage-backed securities market, which led to the near-collapse of the US financial system.
Leading investment trusts are racing to scrap performance fees as the move to clean pricing in the open-ended space puts pressure on charges.
Fiona Harris, client portfolio manager on the J.P. Morgan US Equity Income fund, identifies the ‘sweet spot' for US income investors.
PIMCO, the world's largest bond house, lost its position as the best-selling fund group in Europe in the first half of the year.