Hart, who is lead manager on the JPM US Equity income fund and the JPM US Value fund, has worked at the firm since 1999. She began managing the firm’s US Equity Income fund in 2008 and the US Value fund in 2012.
In the SEC filing, JP Morgan said Hart will continue to serve on the portfolio management team of the funds until her retirement, and upon her retirement, the current co-portfolio managers, Andrew Brandon and David Silberman, will assume full authority of the day-to-day management of the funds.
JP Morgan head of convertible bonds retires
Darius McDermott, managing director of FundCalibre, said Hart had had “an excellent career spanning more than three decades and has built a strategy that fast became the go-to fund in its space”, with this announcement being another example of “well-thought-out and orderly succession planning”.
“We have plenty of time to meet the co-managers and new members of the fund’s investment team and, with no change to the investment process or philosophy, the fund will retain its Elite Rating for the time being. We wish Clare all the best,” he said.
The US Equity fund has returned 40.1% over the last three years compared to an IA North America average of 35.6%, while the US Value fund has returned 48.8% compared to an FO Equity – USA average of 32.7%, according to data from FE Fundinfo.
Lee Spelman, head of US equity at JPMAM, said: “We wish Clare all of the best in her retirement and thank her for her exceptional contributions to consistently strong client outcomes. We are fortunate to have such a deep and experienced Value team that is set up well to deliver strong investment results.
“Following Clare’s retirement in fall 2024, we expect total continuity of the investment philosophy and process under the oversight of our tenured and talented investment team.”
