With a top-notch reputation as an investment manager and cachet to match, J.P. Morgan & Co. is charting a successful course as a subadviser for mutual fund sponsors.

In the last year, Morgan's subadvisory client base has grown to 13 clients, mostly from its existing roster of customers. These new accounts represent $1.3 billion in fund assets, says Evelyn E. Guernsey, managing director of Morgan's U.S. funds.

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