JP Morgan Asset Management is closing its first fund investing in line with the tenets of Catholicism, after it failed to obtain the blessing of enough investors. The fund manager is liquidating the Global Catholic Ethical Balanced Fund it launched just over a year ago, according to a notice in the Financial Times this week.
The Luxembourg-based fund invested in global equities and bonds that met ethical criteria developed in line with Catholic principles. As of May 31, the fund had raised $5.3m, a little more than one sixth of the $30m threshold outlined in the prospectus………………………………………..Full Article: Source