JP Morgan have announced they intend to merge their Global Consumer Trends and Global Equity funds and subject to investor approval this will take place on 28 March 2015. We are in favour of this proposal. The two funds have the same Manager, Peter Kirkham, who will continue to have responsibility for the combined fund. Clearly the Global Equity fund has a broader remit and greater flexibility than Consumer Trends.
As is the case when such mergers take place, we will review the new combined fund in terms of its continued presence in our portfolios.