JPMAM Asia-Pac fund extracts value from oil rout

Singapore

JP MORGAN Asset Management's (JPMAM) income team in Asia-Pacific ex-Japan has found value playing off the wild ride in oil prices.

It has doubled the money that went into investing in oil-related plays at the beginning of last year, and is now rotating into Asian banks as much of the bad-debt provisioning for the lenders' oil exposure may be over.

"The best and bravest thing we had done in the last three years, was that we had double-digit percentage of our fund in oil-related sto…