Graham Spence, a US equity portfolio manager at JPMorgan Asset Management, will become a co-manager of the £2.2bn JPMorgan American investment trust on 4 March. He will replace Jonathan Simon, who is retiring.
Spence, who co-manages the JPMorgan Value Advantage strategy, will focus on large-cap value stocks in the American portfolio, working alongside Jack Caffery. Felise Agranoff and Eric Ghernati will continue to oversee the trust's growth stocks.
Simon has been at JPMorgan Asset Management since 1980 and has co-managed the American portfolio since 2019.
The trust has consistently achieved top-quartile returns against the IT North America sector, ranking as the top vehicle in the seven-strong sector over 10 years and second-best over one, three and five years.
Performance of trust vs sector and benchmark over 10yrs
Source: FE Analytics
Robert Talbut, chairman of the company, said: "The portfolio managers have delivered impressive returns for shareholders, adeptly navigating the challenging market conditions of recent years. Jonathan leaves the company's large-cap portfolio in capable hands, with Felise and Jack continuing their complementary growth and value investment approach to US equities."