JPMorgan Global Natural Resources Fund tweaks investment strategy

By Toni Weeks

San Diego, Nov. 30 - The JPMorgan Global Natural Resources Fund has made some changes to its investment strategy, according to a 497 filing with the Securities and Exchange Commission.

The fund redefined the types of companies within the natural resources sector that it can invest in, saying the companies should be primarily engaged in providing goods or services related to the exploration for or extraction, development, refinement, production or marketing of natural resources. Specifically, the adviser may determine a company to be primarily engaged in this sector if at least 50% of its assets, income, sales or profits are committed to, derived from or related to a business or business activity or if a third party has given the company an industry or sector classification consistent with the designated business activity.

The fund may also now use futures contracts, forwards, options, structured notes and swaps to more effectively gain targeted equity exposure from its cash positions, to hedge various investments, for risk management and to increase the fund's gain.

The adviser will seek to diversify the fund's portfolio by investing in issuers in at least three different countries other than the United States. Previously, the fund invested in at least three different issuers in countries other than the United States.

The fund's investment adviser is New York-based J.P. Morgan Investment Management Inc.

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