Shareholders of JPM UK Strategic Equity Income Fund have voted positively to the proposed merger of the fund with the JPM UK Equity Income Fund.
The proposed merger of both the UK Equity Income Fund and the UK Strategic Equity Income Fund was a progression and part of an ongoing client commitment of JPMorgan Asset Management (JPMAM).
Though both funds employed different strategies to achieve their goals, they shared a similar investment philosophy and therefore, in the interest of clients, it made perfect sense to merge the two funds, said JPMAM.
Jasper Berens, head of UK retail sales at JPMAM, said: Our number one priority at JPMAM has always been to look after our clients’ best interests across all areas of our business and as always, we have listened to our client’s needs and responded accordingly.
One area we have been looking at to enhance and bolster is our offering in the UK equity income sector and we feel that our investors will benefit greatly from these changes.