JP Morgan Funds, the mutual fund arm of JP Morgan Asset Management, has launched a tax-exempt fixed income fund called the JP Morgan Tax Aware Real Return Fund, which aims to maximize after-tax inflation protected returns. This is done through investing in an inflation-linked and tax-exempt securities portfolio. Deepa Majmudar and Richard Taormina manage the fund.
"This fund will allow investors to diversify their portfolio while at the same time potentially reduce their taxable income and guard against a loss of purchasing power due to inflation," said Connie Plaehn, managing director and head of retail fixed income at JP Moran Asset Management. "This combination of strategies has not previously been broadly accessible to taxpaying investors."