The firm said the liquidation of the two Oeics had been decided during a comprehensive strategic review of the whole fund range.
During the review it sought to simplify and improve its offering, the fund group said.
The JPM Global Mining Fund is run by Neil Gregson and team and was launched in February 2011. At its peak the fund was £4.8m but it now stands at £3.5m, according to FE. Its performance over three months, six months and one year put it in the fourth quartile of the sector.
Meanwhile, the JPM Balanced Total Return Fund was launched in 2006 and had £8.8m in assets at the end of April.
It peaked at £12.5m in November 2010 and is managed by Talib Sheikh, James Elliot and Shrenick Shah, who have presided over bottom quartile performance over five, three and one years.