JP Morgan Asset Management has earmarked another batch of European-domiciled funds for merger, with €513 million under management, and said it has begun a similar strategic review of mutual funds in the US and Asia.

The investment management group also announced in a shareholder mailing today that there are five SICAV funds which are "in scope" for a possible merger or closure on September 30 and three potential casualties in November. It did not name the funds, however.