JPMorgan Funds Hires Chief Market Strategist

JPMorgan Funds, the U.S. mutual fund business of JPMorgan Asset Management, has announced that David Kelly will become its Chief Market Strategist.

According to the announcement, as Chief Market Strategist, Kelly will communicate his views on the markets to financial advisers and U.S. investors. His commentary will be delivered through distribution of JP Morgan’s Market Insight series, as well as through nationwide speaking engagements, conference calls, and media activity, the announcement said. Kelly will be based in New York.

Kelly has spent the last eight years as a senior economic advisor at Putnam Investments. Prior to that, he served as an adviser/economist with SPP Investment Management, Primark Decision Economics, Lehman Brothers, and others.

Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.

Funds See $502M Inflow in November

Stock and bond mutual funds enjoyed a $502 million November asset inflow, according to data from the Financial Research Corporation (FRC).
International/Global funds led the way in November with net inflows of $6.4 billion, followed by Government funds with a $950 million net intake. The biggest loser was Domestic Equity, which suffered a $5.9 billion outflow, while Tax-Free Bond funds were hit with a $1.5 billion asset drain.
By Morningstar category, Intermediate-Term Bond funds were ahead of the pack over the month with a $5 billion asset advance, followed by World Bond at $2.5 billion, World Allocation at $2.4 billion, Large Blend at $2.02 billion, and Foreign Large Growth at $2 billion.
State Street Global Advisors topped all fund complexes with $6.1 billion of net November inflows, followed by American Funds with $4.7 billion, the Vanguard Group at $4.4 billion, PIMCO funds at $1.4 billion, and Natixis Global Associates at $1.3 billion.
State Street Global Advisors’ SPDR Trust collected $5.7 billion to lead the fund sales charts, followed by Vanguard Total Stock Index at $1.68 billion and PIMCO Total Return at $1.6 billion.

«