Pirundini v. J.P. Morgan Investment Management



A shareholder in the J.P. Morgan U.S. Large Cap Core Plus Fund filed a lawsuit in U.S. District Court for the Southern District of New York against the Fund adviser.  The complaint alleges that J.P. Morgan Investment Management charged excessive advisory fees to this captive mutual fund, compared to: (1) a third-party sub-advisory relationship; (2) another J.P. Morgan Fund with a similar investment strategy and portfolio holdings; and (3) the average advisory fee charged to comparable large cap funds.  Additionally, the complaint states that the 0.80% advisory fee contained no breakpoints (i.e., reduced fee levels) as the Fund grew to $10 billion in assets.

  • J.P. Morgan Shareholder Files Excessive Fee Complaint
    On April 27, 2017, a shareholder in the J.P. Morgan U.S. Large Cap Core Plus Fund filed an excessive fee lawsuit against J.P. Morgan Investment Management. The complaint alleges that the adviser charged higher fees to this captive mutual fund when compared to other large cap funds and sub-advisor arrangements. The complaint also states that the 0.80% advisory fee was not reduced as a percentage of assets as Fund assets grew to $10 billion.

A shareholder in the J.P. Morgan U.S. Large Cap Core Plus Fund filed a lawsuit in U.S. District Court for the Southern District of New York against the Fund adviser.  The complaint alleges that J.P. Morgan Investment Management charged excessive advisory fees to this captive mutual fund, compared to: (1) a third-party sub-advisory relationship; (2) another J.P. Morgan Fund with a similar investment strategy and portfolio holdings; and (3) the average advisory fee charged to comparable large cap funds.  Additionally, the complaint states that the 0.80% advisory fee contained no breakpoints (i.e., reduced fee levels) as the Fund grew to $10 billion in assets.

Document Title: 
J.P. Morgan Shareholder Files Excessive Fee Complaint
Document Desc: 
On April 27, 2017, a shareholder in the J.P. Morgan U.S. Large Cap Core Plus Fund filed an excessive fee lawsuit against J.P. Morgan Investment Management. The complaint alleges that the adviser charged higher fees to this captive mutual fund when compared to other large cap funds and sub-advisor arrangements. The complaint also states that the 0.80% advisory fee was not reduced as a percentage of assets as Fund assets grew to $10 billion.