JP Morgan Asset Management, the $1.7 trillion US fund manager, has launched a more cautious “cousin” fund, to complement a top-selling €16 billion multi-asset giant.

The funds arm of JP Morgan said on October 12 that it had launched the Global Income Conservative Fund to "follow in the footsteps" of its Global Income fund, which has almost doubled in size in the past two years, from €9.6 billion in September 2014 to €16.1 billion in September this year.