JP Morgan has used its newly established fund incubation unit to seed a newly launched market-neutral hedge fund, Algert Coldiron Investors, which was founded by two former managing directors from Barclays Global Investors (BGI).

The fund was launched this month by Peter Algert, former head of alpha tilts (or active equity) research at BGI, and Kevin Coldiron, BGI's former managing director for market neutral hedge fund strategies.