JPMorgan fund manager sacked

A senior fund manager at a joint venture between JPMorgan Asset Management and Shanghai International Trust & Investment Co. was dismissed yesterday because of suspected insider trading. The China Securities Regulatory Commission is investigating Tang Jian of China International Fund Management Co. for using insider information to carry out trades, according to published reports. He allegedly did not notify the company of investments he and his relatives made, which violated the company’s rules, according to reports. China International Fund Management is a joint venture between JP Morgan Asset Management and Shanghai International Trust & Investment Co. Mr. Tang is the first Chinese fund manager to lose his job over suspicion of illegal stock trades, Reuters reported.