J.P. Morgan announced on Aug. 24, 2021, that JPMorgan Equity Income will close to new investors on Sept. 30, 2021. The strategy retains its Morningstar Analyst Ratings of Gold and Silver.
The strategy’s closure is welcome. Despite its large-cap bent, the strategy has garnered more than $75 billion in assets (as of June 2021), making it among the largest in its large-value Morningstar Category. Inflows haven’t slowed; the fund had $3.3 billion in inflows in 2020 and has seen more than $4 billion in new assets already from the start of the year through July 2021.
Lead manager Clare Hart is an industry veteran with an impressive track record. Since she came aboard this strategy in August 2008 through July 2021, the Institutional shares have gained an annualized 9.9% versus the Russell 1000 Value Index’s 8.7% and typical peer’s 7.9%. Lower volatility and greater protection in market drawdowns have resulted in even more impressive risk-adjusted results. Hart receives additional support from comanagers Andrew Brandon and David Silberman in addition to the firm’s core equity analyst team.