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JPMorgan's $50 Billion Fund Looks For Shelter In Junk Bonds

FYI: One of J.P. Morgan Asset Management’s largest mutual funds is betting junk bonds will help shelter it from the trade war.

The firm’s $49.6 billion Global Income Fund has slashed its equities exposure to 31 percent at the end of October from 43 percent at the beginning of the year and put part of the proceeds into U.S. and European high-yield debt, according to co-manager Eric Bernbaum. The fund cut its stock holdings before the October sell-off, and turned to junk bonds where low default rates, declining leverage and strong fundamentals abound, he said.

M* U.K.: Snapshot Of Fund:


  • It's the UK version of their Income Builder. They are managed identically by the same team.
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