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JPM's multi-asset boss Talib Sheikh leaves firm

Multi-asset veteran ends two decades with asset management firm.

JPM's multi-asset boss Talib Sheikh leaves firm

Talib Sheikh is to leave JP Morgan Asset Management after almost two decades with the investment giant.

It is understood Sheikh, who first joined the company 19 years ago, will leave the firm in the coming weeks to pursue other opportunities.

Sheikh was named on seven funds in the Citywire database covering mixed assets and multi-asset approaches which have combined assets in excess of €30 billion (£26.6 billion).

In a statement, JPM AM said: ‘Talib Sheikh has decided to leave the firm to pursue other opportunities.'

JPM AM said Sheikh relinquished his roles on February 13, which included stepping down from the blockbuster JPM Global Income fund, which has €23.8 billion in assets under management.

This was singled out as one of the biggest money-making funds in the Citywire universe over the third quarter of 2017 when it took in €1.57 billion over a three-month period.

While he maintains a sizeable fanbase in Europe, his sterling-denominated returns have not been sector leading, with the GBP-based JPM Multi Asset Income fund returning 13% over three years versus a peer average of 18.3%.

His departure is also a setback to the company's efforts to launch its first new investment trust in five years. JPM is aiming to raise £150 million for the JPMorgan Multi Asset Trust, on which Sheikh was one of three named managers.

A spokesperson for the group said the launch would go ahead beneath remaining co-managers Katy Thorneycroft and Gareth Witcomb.

Michael Schoenhaut and Eric Bernbaum, who had co-managed the Global Income fund with Sheikh since 2010 when he joined the fund, will continue to run the multi-asset fund once Sheikh exists.

Meanwhile, on the JPM Global Macro Opportunities fund, which has €4.7 billion in assets, the management duo of James Elliot and Shrenick Shah will remain in place following Sheikh’s exit.

He also steps back from the Global Balanced and Global Macro Balanced funds. The existing management teams of Thorneycroft and Jonathan Cummings and Witcomb and James Elliot remain in place.

 

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