JPMorgan to Liquidate Japan Fund After ‘Significant’ Redemptions
- Assets in Japan Market Neutral Fund fell to $17 million
- Fund lost 16% since inception in 2011, according to website
This article is for subscribers only.
JPMorgan Chase & Co.’s investment unit said it will liquidate a Japan-focused fund after a surge of investor withdrawals following poor performance.
JPMorgan Funds - Japan Market Neutral Fund, launched in June 2011, will liquidate after assets dipped to about $17 million as of Aug. 4 following “significant redemptions” in recent months, the firm said in a letter to investors, a copy of which was obtained by Bloomberg News. The fund has lost a cumulative 16 percent since inception, according to the firm’s website. Keiko Kobayashi, a JPMorgan spokeswoman in Tokyo, confirmed the liquidation.