Deals & People September 9, 2010

MSSB Taps Walker as Consulting Services Group Leader

Morgan Stanley Smith Barney (MSSB) has appointed Managing Director James F. Walker to lead the Consulting Services Group.
Reported by

Walker succeeds James J. Tracy, who was named in July as Chief Operating Officer of Distribution and Development for Wealth Management in the U.S., the company said.  Walker will continue to report to Paul Hatch, Head of the Investment Strategy and Solutions Group.

Walker most recently served at Morgan Stanley Smith Barney as Chief Operating Officer of Investment Strategy and Solutions, with responsibility for strategy, coordination and overall business leadership. Prior to that, he was Director of Finance, Risk and Strategy for Citi Global Wealth Management Investments, having joined Citi in 2006 as COO of Investment Advisory Services.

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He began his career in 1985 as a financial adviser in Washington, D.C. and Northern Virginia. 

Products September 9, 2010

J.P. Morgan Announces New Long/Short Fund

J.P. Morgan Funds has launched a new equities mutual fund, the JP Morgan Research Equity Long/Short Fund.
Reported by

The Research Equity Long/Short Fund (A shares: JLSAX) seeks to provide individual investors with exposure to equity-like returns while striving to reduce downside risk and limit volatility, according to the company. The fund is managed by senior portfolio manager Terance Chen, who has more than 16 years of investment experience at J.P. Morgan and who is also lead manager of the JP Morgan Research Market Neutral Fund.  

In order to provide long term capital appreciation, the company said the fund engages in the following strategies:

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  • Using the research team’s insights, the portfolio invests in attractively valued securities, offset by short positions in stocks which appear expensive. Long/short pair trades within sectors aims to generate returns while minimizing volatility. 
  • Maintains a relatively low net market exposure to minimize market risk while emphasizing bottoms-up, fundamental stock selection in generating returns. 
  • The Fund invests primarily in U.S. securities and does not employ leverage or use of derivatives, beyond cash futures.

 

 

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