JPMorgan Mulling A Merger With F&C

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Two emerging fund trusts operated by subsidiaries of JPMorgan and F&C Asset Management are talking about merging their forces to produce what reportedly would be one of the largest funds in the sector, Reuters reports.

This article appears courtesy of Institutional Investor
Source: InstitutionalInvestor.com

Two emerging fund trusts operated by subsidiaries of JPMorgan and F&C Asset Management are talking about merging their forces to produce what reportedly would be one of the largest funds in the sector, Reuters reports.

According to David Barron, JP Morgan Asset Management's head of investment trust, its JP Morgan Fleming Emerging Markets Investment Trust and the F&C Emerging Markets Investment Trust would produce a new portfolio worth an estimated $755 million.

At the moment, "it is extremely popular," Barron told Reuters.  "What the boards are trying to do is create a larger and more liquid trust with a high profile.

Shareholders are expected to vote on the merger proposal by the end of the year.

Even combined, the new fund still pales in comparison to the monstrous $2.3 billion Templeton Emerging Markets Trust.