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Convertibles Fund added to Skandia platform

Sep 21, 2009

London, 21st September 2009:  J.P. Morgan Asset Management has now added the JPM Global Convertibles Fund to the Skandia Investment Solutions platform. This now gives investors access to a total of 28 J.P. Morgan Asset Management funds with which to enhance their portfolios via the platform.

J.P. Morgan Asset Management believes opportunities in the current market come from two key areas. Firstly, on a macro basis, a global rather than regional investment strategy is still optimal. A purely regional portfolio is more concentrated and lacks the necessary diverse exposure to high quality, liquid bonds that will likely take best advantage of the current situation. Secondly, on a micro basis, security analysis remains key. Rigour in analysing the credit worthiness of company balance sheets, as well as the potential upside from equity exposure is the key area of added value and local, in depth research has so far differentiated the winners and survivors of this crisis.

The JPM Global Convertibles fund has returned 21.27% year to date. It has also returned 22.77% and 8.47% over 6 and 3 months respectively.

Mike Parsons, Head of UK Retail Distributor Sales at J.P. Morgan Asset Management commented: “We are delighted to be offering this fund through Skandia’s platform, one of our key partners. Markets have remained volatile over the shorter term and this creates a particularly favourable environment for the strategy that underpins the JPM Global Convertibles Fund. The primary market for convertible bonds has been very active since March of this year, with the last four months providing fantastic opportunities for the largest managers to take positions in very attractively priced new issues from a range of sectors and geographies. The Fund is ideal for investors seeking strong outperformance potential combined with lower risk. Crucial to the investment decision is the expertise that J.P. Morgan Asset Management offers in both equities and fixed income. The Fund is particularly appealing to income orientated and risk-averse investors, who already have significant equity exposure. The Fund has outperformed its benchmark since launch, and is top quartile over the same time period.”

Graham Bentley, Head of Investment Marketing at Skandia said: “Our relationship with J.P. Morgan Asset Management continues to develop with the addition of the JPM Global Convertibles Fund. With signs of recovery in the global economy becoming more evident, convertibles are an attractive asset given narrowing spreads and the equity "kicker" inherent in those securities. This addition to the Skandia Investment Solutions platform will supplement the range of fixed income funds available and should provide an extra dimension for investors and advisers who are looking to enhance their investment portfolios."

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For further information please contact:
Ben Larter: Media Relations
Telephone: 020 7742 2112
Email: benjamin.g.larter@jpmorgan.com

Notes to Editors

J.P. Morgan Asset Management is part of J.P. Morgan Chase & Co. and is a global asset management leader providing world-class investment solutions to clients. With US$1.1 trillion in assets under management (the Asset Management client funds of J.P. Morgan Chase & Co. as at June 30th 2009) and offices in 40 locations around the world, J.P. Morgan Asset Management offers global coverage with a strong local market presence, and leadership positions in most asset classes.

J.P. Morgan Asset Management is a trading name of J.P. Morgan Asset Management Marketing Limited which has issued this material in the United Kingdom and which is authorised and regulated by the Financial Services Authority.  Registered in England No. 288553.  Registered office: 125 London Wall, London EC2Y 5AJ.

Any past performance referred to in this material is not a guide to future performance and the value of investments, and any income from them, can fall as well as rise.  Any tax concessions referred to are not guaranteed and their value will depend on the individual circumstances of investors.  Stock market linked investments carry a number of inherent risks.  These risks will increase where fluctuations in exchange rates impact on the value of any underlying investments or where the investment is exposed to smaller companies or emerging markets.  Investments in fixed income securities that are not rated as investment grade represent a greater risk to an investor’s capital.