Liquid Alternatives/ESG: JP Morgan Launches ESG Liquid Alt Fund In Thailand
JP Morgan is partnering with Thailand’s Kasikorn Asset Management for the fund.
JP Morgan Asset Management (JPNAM) and Thailand’s Kasikorn Asset Management have jointly created a sustainable liquid alternative fund called K-SUSTAIN-UI. To be distributed by Kasikorn Private Banking, the new product will invest in the JP Morgan Multi-Manager Sustainable Long/Short Fund. It gives investors a liquid alternative product with an ESG focus. (INTERNATIONAL ADVISER)
The product is only available to institutional and ultra-high net worth investors only.
Exposure to sustainability trends
The JP Morgan Multi-Manager Sustainable Long/Short Fund (the Master Fund) invests in companies that have taken the lead in both sustainability characteristics and performance, and are likely to benefit from long-term sustainable trends.
The fund’s strategy is to take up long positions (at least 67%) that will focus on sustainable alpha opportunities emerging from long-term global sustainability themes, such as energy transition, resource efficiency, empowerment, health & wellness, and technology for sustainability.
Short positions may be taken through derivatives, in stocks of companies that are deemed overvalued, which may include companies that are not sustainable or do not demonstrate improving sustainable characteristics.
The Master Fund may invest up to 10% of its assets in China A-Shares through the China-Hong Kong Stock Connect Programmes.
The Master Fund will typically hold long positions of up to 150%, and short positions (achieved through derivatives) of up to 150%, of net assets. Net market exposure will typically range from 0% to 90% of net assets.
For the ESG angle, the fund will use JPMAM’s proprietary and forward-looking ESG scoring framework.
The JP Morgan Multi-Manager Sustainable Long/Short Fund will serve as the Ucits master-feeder fund for the offering.
Sherene Ban, chief executive of Singapore and Southeast Asia at JPMAM, said the new product exemplified the “significant partnership” with KAsset over the past two years.
Related Story: JP Morgan Launches Carbon Transition Focused Equity ETF
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