JP Morgan is set to launch a fifth global 130/30 fund. Scheduled for March 2008, it follows the four recent 130/30 offerings, focusing on European and US equity markets, which are aimed at institutional investors.

The new fund is to be headed by Georgina Percival-Maxwell who currently runs the JP Morgan $36.8 million Healthtech fund.

The bank claims the four 130/30 funds are a "new breed" of equity investment, which have the potential to produce higher returns without adding too much risk to portfolios.

The existing vehicles, called the JPM US, US Select, Europe and Europe Select 130/30 funds, aim to produce high alpha returns though capitalising on positive long positions whilst exploiting negative stocks.