J.P. Morgan Asset Management Launches Ultra-Short Municipal ETF: JMST
--fund seeks to identify high-quality opportunities that perform well over market cycles--
NEW YORK, Oct. 18, 2018 /PRNewswire/ -- J.P. Morgan Asset Management today announced the launch of the JPMorgan Ultra-Short Municipal ETF (JMST), an actively managed fixed-income ETF that focuses on tax-exempt yield and invests in municipal securities with less interest rate sensitivity.
The strategy invests primarily in investment grade, ultra-short municipal bonds that are exempt from federal income tax. The fund employs a value-driven, bottom-up approach and seeks to maintain a target duration range of two years or less. Additionally, it can serve as a diversifier to a portfolio's core exposure and the shorter duration can help to reduce volatility.
JMST leverages the expertise of J.P. Morgan's Municipal Bond and Global Liquidity business, with over 145 dedicated investment professionals and 30 years of demonstrated results across market cycles. The team is led by co-portfolio managers, Rick Taormina and James Ahn.
"Investors have become wary of fixed income investments in a rising rate environment," said Joanna Gallegos, U.S. Head of ETFs at J.P. Morgan Asset Management. "JMST's focus on low duration positions should help to mitigate interest rate risk, while potentially offering a higher yield than tax-exempt money market funds."
J.P. Morgan Asset Management's ETF suite now features 28 product offerings with over $10 billion in assets under management. J.P. Morgan was awarded "Best New Alternatives ETF" for its JPMorgan Managed Futures Strategy ETF (JPMF) product and earned "Best New International/Global Fixed-Income ETF" for its JPMorgan Global Bond opportunities (JPGB) product at the fifth annual ETF.com Awards held in March 2018.1
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of $1.8 trillion (as of September 30, 2018), is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. JPMorgan Chase & Co. (NYSE: JPM), the parent company of J.P. Morgan Asset Management, is a leading global asset management firm with assets of approximately $2.5 trillion (September 30, 2018) and operations worldwide. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
Investors should carefully consider the investment objectives and risks as well as charges and expenses of an ETF before investing. The summary and full prospectuses contain this and other information about the ETF and should be read carefully before investing. To obtain a prospectus: Call 1-844-4JPM-ETF.
1 ETF.com Award winners are selected by a majority vote of the ETF.com Awards Selection Committee, a group of independent ETF experts. Voting was completed by Jan. 20, 2018, and results were announced at the ETF.com U.S. Awards Dinner on March 22, 2018.
The Fund mainly invests in bonds and other debt securities. These securities will increase or decrease in value based on changes in interest rates. If rates increase, the value of the Fund's investments generally declines. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value.
J.P. Morgan ETFs are distributed by JPMorgan Distribution Services, Inc. (JPMDS), which is an affiliate of JPMorgan Chase & Co. Affiliates of JPMorgan Chase & Co. receive fees for providing various services to the funds. JPMorgan Distribution Services, Inc. is a member of FINRA.
J.P. Morgan Asset Management is the marketing name for the asset management businesses of JPMorgan Chase & Co. and its affiliates worldwide
J.P. Morgan Asset Management and JPMDS are not affiliated with ETF.com.
NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE
SOURCE J.P. Morgan Asset Management
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