JPMAM's Henderson steps down from Natural Resources fund

Ian Henderson is to step down as manager of the £2bn JPM Natural Resources fund in January 2012, to be replaced by Neil Gregson.

Henderson has managed the fund since 1992 but will step back at the end of January 2012 next year. He will then take an advisory role on the fund and for the natural resources team until the end of March 2013.

Gregson, who has worked alongside Henderson for the past 12 months, will take over as manager of both JPM Natural Resources and JPM Global Natural Resources funds at the end of January 2012. He will also continue to run the JPMAM Global Mining fund.

JPMAM said it is unlikely there will be any immediate changes to the funds following the takeover as Gregson was chosen as Henderson's successor due to the similarity of his investment style.

"The world of natural resources and the investment opportunities within the sector remain as compelling now as ever and I am still very much a believer in the commodities super-cycle," said Henderson.

"I have been aware of Neil's expertise for many years and have had the pleasure of working closely with him for over a year. We share a very similar style of investment and he has already made his mark. He is the natural successor to take these funds forward."

Gregson joined JPMAM's natural resources team in September 2010, having spent almost 20 years at Credit Suisse Asset Management as head of emerging markets and related sector funds. In this role, he was responsible for $10bn in assets under management.

Qualified as a mining engineer, Gregson began his career holding various positions at mining and natural resource companies, including a role as a mining investment analyst at South African company Gold Fields.

The Natural Resources fund has returned 107.6% over the three years to 14 October, according to Morningstar. Over one year it has lost 15.3%.