China unit of JPMorgan executive quits
Lu Jun has resigned as chief investment officer of JPMorgan’s China fund management joint venture.
Lu quit for “personal reasons”, China International Fund Management Co said in a statement. Lu is widely known in China’s 1.8 trillion yuan (US$237.33 billion) mutual fund sector for his stock-picking skills and aggressive trading style.
In an apparent bid to soothe investors holding fund units issued by China International Fund Management Co, the company’s chief executive Mandy Wang said the performance of a mutual fund depended more on teamwork, although Lu’s departure was a loss.
Copyright Fund China 2009.
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