Mike Parsons, head of UK field sales, said the product would meet growing demand for higher alpha US equity exposure he was seeing from UK advisers.
He believed the product would be a complement to the group's popular US Equity Income fund, which has grown to more than £2bn of asset in five years – comprising 7 per cent of AUM in the IMA’s North America sector.
The new fund will also offer investors a concentrated portfolio of 20-40 large cap US equities, constructed using a bottom-up fundamental approach to stock selection.
Co-managed by value investor Jonathan Simon and growth investor Greg Luttrell, the duo has been working in fund management for more than 60 years combined. They will tilt the portfolio's bias towards either value or growth in response to market conditions. It will be pegged against the S&P 500 Index.
Parsons added: "With economic confidence recovering and macro headwinds subsiding in the US, investors are asking us for higher alpha exposure. For UK investors accessing US equities, there is a gap in the marketplace for concentrated, actively managed portfolios."
The group's other US equity funds include the US fund, US Select fund and US Smaller Companies fund. It also offers two investment trusts, JPMorgan American and US Smaller Companies.
