JPMAM Asia-Pac fund extracts value from oil rout
The fund is now rotating into Asian banks, which form about a third of its portfolio excluding properties
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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.
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