USE EVERY ASSET CLASS TO YOUR ADVANTAGE

Transcription

1 FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY NOT FOR RETAIL USE OR DISTRIBUTION. USE EVERY ASSET CLASS TO YOUR ADVANTAGE J.P. Morgan Asset Management Multi-Asset Solutions Our multi-asset strategies bring together expertise across every major asset class and every region to help investors make sense of today s complex markets

2 USE EVERY ASSET CLASS TO YOUR ADVANTAGE J.P. Morgan Asset Management Multi-Asset Solutions We ve used all of our experience and expertise, gained from over 45 years of multi-asset investing, to deliver a range of complementary multi-asset strategies specifically designed to meet the demands of today s challenging markets. At the heart of our multi-asset approach is a consistently applied investment philosophy based on three founding principles: Effective asset allocation adds value over the long term Flexible multi-asset investing provides consistent, attractive riskadjusted returns A differentiated approach is necessary to deliver differentiated returns Our clients come to us with a broad range of goals and objectives which inform how we build portfolios. Our mission through client collaboration is to solve these investment challenges and deliver superior outcomes. Nicolas Deblauwe Country Head Benelux 2 J.P. MORGAN ASSET MANAGEMENT

3 Strategies designed for today s challenges Lower expected returns and increasingly complex markets demand a more rigorous approach to multi-asset investing and a multi-asset manager with the resources and expertise to access diverse sources of alpha. Multi-asset solutions for complex markets In a world of lower expected returns, simply accessing market beta may not be enough to achieve an attractive portfolio return from a traditional balanced portfolio, while also maintaining a balanced risk profile. BALANCED PORTFOLIO RETURNS MAY BE LOWER IN THE NEXT 10 YEARS 8% 7% 6% 5% 4% 3% 2% 1% 0% 60/40 Portfolio Return (% annualised), USD 30/70 Portfolio Return (% annualised), USD Last 30 years Last five years Last three years Next 10 years? Source: J.P. Morgan Asset Management; estimates as of 30 November 2017 based on 2018 Long-Term Capital Market Assumptions. Strategies designed for a lower return world Muted potential returns for the major asset classes mean that the potential alpha from active management (both asset allocation and stock selection) will represent a significant share of total returns. Our multi-asset funds are able to access diverse sources of return and consistently extract alpha through flexible portfolio implementation and expert security selection all within a robust risk management framework. ALPHA IS MORE CRITICAL THAN EVER FOR MULTI-ASSET INVESTORS Expected annualised returns of a traditional 60/40 balanced portfolio Beta Alpha Sources of alpha 1 Flexible implementation 7% 5% Core Balanced Income Macro-thematic Security selection Leverage active J.P. Morgan Asset Management platform Invest directly Source: J.P. Morgan Asset Management; estimates as of 30 November 2017 based on 2018 Long-Term Capital Market Assumptions. Opinions, estimates, forecasts, projections and statements of financial market trends are based on market conditions at the date of the publication, constitute our judgment and are subject to change without notice. There can be no guarantee they will be met. J.P. MORGAN ASSET MANAGEMENT 3

4 USE EVERY ASSET CLASS TO YOUR ADVANTAGE Proprietary research and global resources set us apart Our multi-asset funds benefit from deep proprietary asset allocation insights, comprehensive asset class coverage, expert security selection and rigorous risk management providing access to a level of top-down and bottom-up research that few other multi-asset managers can match. The ability to make the big calls We believe that having the ability to select the strongest long-term asset mix, and the flexibility to adjust allocations to suit different client outcomes and market environments, is the cornerstone of our success as a multi-asset manager. Thanks to the extensive qualitative and quantitative analysis of our experienced team of in-house global multi-asset strategists, we have the conviction to make the big top-down asset allocation calls both strategic and tactical time after time. STRATEGIC LONG-TERM ASSET ALLOCATION IS GUIDED BY PROPRIETARY INSIGHTS FOR INSTITUTIONAL/WHOLESALE/PROFESSIONAL CLIENTS AND QUALIFIED INVESTORS ONLY NOT FOR RETAIL USE OR DISTRIBUTION PORTFOLIO INSIGHTS nd ANNUAL EDITION LONG-TERM CAPITAL MARKET ASSUMPTIONS Time-tested projections to build stronger portfolios Risk and return estimates for more than 50 strategies and asset classes. In-house estimates from our multi-asset specialists. Rigorously tested, refined and trusted for over 22 years. Active implementation focused on risk Markets don t sit still, and neither do we. Our active approach to portfolio construction means that we are constantly looking to adjust the asset mix in our multi-asset portfolios as market and economic conditions change, with portfolio managers and strategists working together to identify tactical opportunities and shortterm risks as they arise. All portfolios are constructed within a comprehensive risk framework that closely monitors active positions to ensure risks are allocated as efficiently as possible, with the aim of generating attractive returns for each unit of risk assumed. Our risk analysis is driven by sophisticated portfolio construction tools that contain detailed proprietary return and correlation information. We look to build multi-asset portfolios that do not contain unintended risk biases from individual investment styles or strategies. 4 J.P. MORGAN ASSET MANAGEMENT

5 Dedicated multi-asset expertise backed by a global investment platform The experienced investment professionals that make up our Multi-Asset Solutions team are dedicated to designing, constructing and managing outcome orientated multi-asset solutions built around a wide range of client needs. The team of more than 80 specialist multi-asset investors located across the globe has a long history of developing and managing successful multi-asset portfolios. We are committed to continually enhancing our extensive resources and expertise. OUR MULTI-ASSET RESOURCES SPAN THE GLOBE 45+ YEARS MANAGING MULTI-ASSET PORTFOLIOS 80+ MULTI-ASSET INVESTMENT PROFESSIONALS 16 AVERAGE YEARS OF EXPERIENCE ACCESS INVESTMENT PROFESSIONALS WORLDWIDE 34 LOCATIONS IN 16 COUNTRIES Source: J.P. Morgan Asset Management; data as of 31 December Includes portfolio managers, research analysts, traders and client portfolio managers with VP title and above. Access to the broadest range of asset classes and strategies Our multi-asset portfolios combine macro insights, top-down asset allocation and bottom-up security selection to extract maximum benefit from the insights generated by the 1,200+ investment professionals that form J.P. Morgan Asset Management s extensive global investment network. This means we can invest in the broadest range of asset classes, regions and sectors, and are able to gain access to opportunities across the corporate structure. We drill deeper into asset classes to extract maximum value Our in-depth global asset class coverage provides access to opportunities that most other multi-asset managers cannot access from their own investment platform alone. For example, global fixed income security selection is guided by expert teams with insight into specialist bond markets and sectors, such as US mortgages and agency bonds, or local currency emerging market debt. J.P. MORGAN ASSET MANAGEMENT 5

6 USE EVERY ASSET CLASS TO YOUR ADVANTAGE A range of complementary multi-asset solutions From traditional core balanced portfolios through to income-oriented and macro-thematic strategies, all of our multi-asset funds provide investors with access to our proprietary research while leveraging our global investment platform and expert security selection. Diversified solutions for stronger portfolios Few managers have the asset class expertise and global resources needed to access diversified return drivers and deliver truly differentiated multi-asset funds. Because our multi-asset strategies focus on different investment outcomes, our funds are fully complementary and designed to work together in a diversified investment portfolio. Multi-Asset Income Macro-thematic Core Balanced Objective Targets an attractive and consistent income with a flexible approach and disciplined risk management Objective Targets attractive risk-adjusted returns through varying market environments Objective Targets flexible exposure to equities, bonds and currency with a traditional balanced risk profile Portfolio allocation Invests across 80+ countries, 10+ asset classes and across the capital structure Portfolio allocation A focused and flexible portfolio of global stocks, bonds, currency and sophisticated derivatives strategies Portfolio allocation A flexible, actively managed portfolio of global equities, bonds and currencies Investment solution Provides access to multiple asset classes to produce an attractive and sustainable regular income with the opportunity for capital growth Investment solution Offers the potential for attractive risk-adjusted returns and diversification to traditional equity and bond portfolios Investment solution Provides access to active asset allocation to enhance balanced returns in a lower return/higher risk market environment 6 J.P. MORGAN ASSET MANAGEMENT

7 Multi-asset strategies tailored for your investment needs Multi-Asset Income Macro-thematic Core Balanced Global Income Fund Global Macro Fund Global Balanced Fund Global Income Conservative Fund Global Macro Opportunities Fund J.P. MORGAN ASSET MANAGEMENT 7

8 BUILDING STRONGER MULTI-ASSET PORTFOLIOS At J.P. Morgan Asset Management, collaborating with our clients in an effort to build stronger portfolios drives everything we do. We are committed to sharing our expertise, insights and solutions to help make better investment decisions. Whatever you are looking to achieve, together we can solve it. CONTACT DETAILS For more information, please contact your local J.P. Morgan Asset Management representative. Belgium, Netherlands & Luxembourg Switzerland FOR PROFESSIONAL CLIENTS/ QUALIFIED INVESTORS ONLY NOT FOR RETAIL USE OR DISTRIBUTION. This is a marketing communication and as such the views contained herein are not to be taken as an advice or recommendation to buy or sell any investment or interest thereto. Reliance upon information in this material is at the sole discretion of the reader. Any research in this document has been obtained and may have been acted upon by J.P. Morgan Asset Management for its own purpose. The results of such research are being made available as additional information and do not necessarily reflect the views of J.P. Morgan Asset Management. Any forecasts, figures, opinions, statements of financial market trends or investment techniques and strategies expressed are, unless otherwise stated, J.P. Morgan Asset Management s own at the date of this document. They are considered to be reliable at the time of writing, may not necessarily be all inclusive and are not guaranteed as to accuracy. They may be subject to change without reference or notification to you. It should be noted that the value of investments and the income from them may fluctuate in accordance with market conditions and investors may not get back the full amount invested. Past performance and yield are not a reliable indicator of current and future results. There is no guarantee that any forecast made will come to pass. J.P. Morgan Asset Management is the brand name for the asset management business of JPMorgan Chase & Co. and its affiliates worldwide. To the extent permitted by applicable law, we may record telephone calls and monitor electronic communications to comply with our legal and regulatory obligations and internal policies. Personal data will be collected, stored and processed by J.P. Morgan Asset Management in accordance with our EMEA Privacy Policy This communication is issued in Europe (excluding UK) by JPMorgan Asset Management (Europe) S.à r.l., 6 route de Trèves, L-2633 Senningerberg, Grand Duchy of Luxembourg, R.C.S. Luxembourg B27900, corporate capital EUR This communication is issued in the UK by JPMorgan Asset Management (UK) Limited, which is authorised and regulated by the Financial Conduct Authority. Registered in England No Registered address: 25 Bank Street, Canary Wharf, London E14 5JP. LV JPM / c02a820cdc42