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Alternative Market Briefing

J.P. Morgan signs deal for actively managed ETFs without daily holdings disclosure

Tuesday, January 24, 2017

Komfie Manalo, Opalesque Asia:

J.P. Morgan Asset Management (JPAM) has initiated a deal with Precidian Investments regarding the latter's patented intellectual property relating to the offering of actively-managed, periodically-disclosed exchange-traded funds (ETFs). JPAM has signed a letter of intent to negotiate a license for Precidian's ETFs.

The Precidian model, subject to applicable regulatory approvals, would allow J.P. Morgan to deliver actively managed investment strategies in an ETF vehicle without disclosing holdings on a daily basis. Precidian is seeking approval for use of ActiveShares(SM) from the SEC.

Bob Deutsch, Head of ETFs for J.P. Morgan Asset Management, commented, "J.P. Morgan has world class active management capabilities and we are excited to be able to deliver those capabilities to our advisor clients in ETFs just as we do in other products," said "Advisors want and use multiple types of investment vehicles to suit different client portfolios, and we are looking forward to helping meet those needs."

Precidian's CEO, Daniel McCabe, stated "We are thrilled to work with J.P. Morgan on what we hope will be the new standard for actively-managed, periodically-disclosed ETFs. Innovation is a hallmark of the asset management industry, and we are excited to conti......................

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