JP Morgan Asset Management has removed Benoit Lanctot from the JPM Global Macro Opportunity fund and the JPM Global Macro Sustainable fund, according to a shareholder notice.
The changes, which came into effect on 1 February, mean the portfolios will be run by Schrenick Shah and Josh Berelowitz.
Last October, Virginia Martin Heriz left the global macro team to move to a different position within the firm.
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Lanctot is no longer listed on any funds at JPMAM. He joined the firm in 2011 and worked as a convertible bond analyst within the multi-asset team. He became a portfolio manager in June 2017 and was appointed to the Global Macro fund in 2019.
The Global Macro Opportunity fund struggled in 2022, when it lost 10.5%, while the benchmark, the ICE BofA SONIA Overnight Rate index, returned 1.4%, according to the fund's factsheet.
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The shareholder notice also said that Michael Rossi would be added to the portfolio management team of the Global Equity Income fund and Jeffrey Lovell would be added to the Global High Yield Bond fund.
Earlier this year, the firm made a number of changes to its global equity funds with Alex Stanic, managing director who ran the Global Growth and Global Unconstrained Equity funds, leaving the firm.
JP Morgan Asset Management did not immediately respond to a request for comment.
