JPM Global Convertibles: Qual. Rating Issued
Costs detract from JPM Global Convertibles Fund’s appeal.
"With a TER of 1.65%, this fund is about 40 basis points more expensive than the median peer in its Morningstar Euro Convertible Bond category. That places the fund at a distinct disadvantage to its peers: Given the fact that the typical convertible bond fund has returned just over 5% on average over the last 15 years, this fund’s TER takes quite a bite out of shareholders’ returns. We think costs should come down here, especially given the fund’s large asset base . . ."
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