With the addition, the multi-income fund becomes the second in the asset manager’s product range with a RMB share class, the first having been introduced to the JPMorgan Asia Equity Dividend Fund in March.
Eddy Wong, head of intermediary business at JP Morgan Asset Management, said: “Since there are limited choices of RMB-denominated investments available in the market, the launch of an RMB share class for our funds has been well received by distributors and investors.
“We believe this launch provides investors with new investment opportunities for their RMB holdings via a diversified global portfolio of income producing equities, bonds and other securities.”
The minimum investment amount with the new share class is RMB16,000 (£13,000 $22,000) and subscriptions can be done through any RMB bank account.
Prior to the launch of the new RMB share class, the fund had been offered in eight currency choices, namely: US dollar, Hong Kong dollar, Australian dollar hedged, Canadian dollar hedged, euro hedged, sterling, New Zealand dollar hedged and Singapore dollar hedged.
“By expanding our share class range to include an RMB denominated alternative, those investors with significant RMB holdings can now get exposure to the fund in their desired currency of denomination,” said Jonathan Lowe, manager of the JPMorgan Multi Income Fund.
The multi-income fund is designed to maximize income opportunities by investing across high yield bonds, emerging market bonds, convertible bonds, global equities, emerging market equities and real estate investment trusts.
The fund currently has more than 1,500 securities in the portfolio with average bond holding ratings of BB. The fund’s annualized volatility since launch is 7.47%.
