August 08, 2012

JPMorgan Asset Management moved Peter Pergovacz to its global liquidity sales team covering Europe, the Middle East, and Africa, according to media reports.

He had previously been an institutional relationship manager at the firm's worldwide securities services division.

Meanwhile, earlier this week the asset manager announced the launch of the JF Asia Pacific Income Fund, which it said invests mainly in income generation securities across the Asia Pacific region, excluding Japan.

The firm said its investments are drawn from a wide range of asset classes, including high-dividend stocks, and REITs, along with high-yield and investment grade bonds. The fund also deploys a flexible asset allocation strategy and security selection.

"The fund may help investors to compensate for low yields by acting as an alternative source of income that is distributed in a timely and efficient manner," said Terry Pan, the head of JPMorgan Asset Management's Hong Kong business.

The firm added that with the credit fundamentals of Asian companies continuing to remain solid, along with currency yields in the region that are higher than that of U.S. treasuries, the outlook for Asian fixed income investments is strong over the near-term.

"Growth in Asia is one of the major positive contributors to global growth and we believe (it) remains one of the most promising regions globally, even in these times of difficult and uncertain markets," said Stephen Chang, a fund manager for the new venture.

ABOUT THE AUTHOR
As the Senior Editor of Advanced Trading, Justin Grant plays a key role in steering the magazine's coverage of the latest issues affecting the buy-side trading community. Since joining Advanced ...