SINGAPORE - The asset management arm of JPMorgan Chase and Co launched 21 mutual funds in Singapore's retail market on Tuesday, including one that invests in African equities.

"If you look at Singapore, it has very good financial health, very good economic growth potential and rising affluence," said Andrew Creber, a director at J.P. Morgan Asset Management.

Most of the funds are existing JPMorgan funds invested in emerging markets and commodities that are now registered for sale in Singapore. The firm had previously sold its funds to high-net-worth individuals in Singapore via private banks.

Net inflows into Singapore-registered funds slowed in the second quarter of 2010 amid a fall in investor confidence, fund tracker Lipper, a unit of Thomson Reuters, said last week.