LONDON (Reuters) – JPMorgan Asset Management said on Monday it will launch a global equity income portfolio because it sees strong income investment opportunities overseas.
The JPM Global Equity Income fund will be launched on Feb 7 and will target a yield of 4 percent. It will aim for rising dividends and long-term capital growth.
The fund will be run by New York-based fund manager Gerd Woort-Menker and will not be constrained by geographical region, stock market sector, a company’s size or its weighting in the benchmark index. The fund’s investments will be hedged into sterling.
“British investors have traditionally favoured the UK stock market for their income investments. However … there are excellent opportunities for income investors who wish to diversify away from the domestic market place,” the firm said in a note.
“Our studies reveal that over the last eight years, Europe’s 143 percent (dividend) growth record far outstrips an already impressive 115 percent growth in the UK.”
