Products September 9, 2010

J.P. Morgan Announces New Long/Short Fund

J.P. Morgan Funds has launched a new equities mutual fund, the JP Morgan Research Equity Long/Short Fund.
Reported by

The Research Equity Long/Short Fund (A shares: JLSAX) seeks to provide individual investors with exposure to equity-like returns while striving to reduce downside risk and limit volatility, according to the company. The fund is managed by senior portfolio manager Terance Chen, who has more than 16 years of investment experience at J.P. Morgan and who is also lead manager of the JP Morgan Research Market Neutral Fund.  

In order to provide long term capital appreciation, the company said the fund engages in the following strategies:

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  • Using the research team’s insights, the portfolio invests in attractively valued securities, offset by short positions in stocks which appear expensive. Long/short pair trades within sectors aims to generate returns while minimizing volatility. 
  • Maintains a relatively low net market exposure to minimize market risk while emphasizing bottoms-up, fundamental stock selection in generating returns. 
  • The Fund invests primarily in U.S. securities and does not employ leverage or use of derivatives, beyond cash futures.

 

 

Deals & People September 9, 2010

The Hartford Appoints Reiss Head of Sales

The Hartford Mutual Funds has named Jeff Reiss national sales manager.
Reported by

Reiss, who was previously national sales manager for the wirehouse division, will oversee all sales initiatives of U.S. mutual funds and 529 college savings plans across the wirehouse, registered investment adviser (RIA), independent and bank channels.

In this newly created role, Reiss will report to Jim Davey, executive vice president of The Hartford Mutual Funds (see “Hartford Shakes Up Wealth Management Unit”).

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“Aligning mutual fund sales under Jeff’s leadership renews our commitment to accelerate growth of the fund family and expand market share across all channels,” said Davey.

Reiss joined the firm as a sales coordinator in 1995. In 1996, he became a regional marketing director in the bank channel and subsequently held positions of increasing responsibility including divisional sales manager for a five-state region, and head of east coast sales for mutual funds in the wirehouse channel. He was appointed national sales manager for the wirehouse division in 2008.

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