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Laxman Pai, Opalesque Asia: J.P. Morgan Asset Management, part of JPMorgan Chase, launched the JPMorgan Active High Yield ETF (JPHY) on the Cboe BZX Exchange, backed by a $2B investment from a large institutional external client.
The new ETF marks the largest active ETF launch and extends J.P. Morgan's position as the leading provider of active fixed income, said a press release from the investment firm with assets under management of $3.7 trillion.
George Gatch, CEO of J.P. Morgan Asset Management said: "This is just the beginning of a trend that should see active fixed ETF AUM quadruple in the next five years. As the largest U.S. active fixed income ETF manager, we will continue to expand our ETF lineup to reflect the depth of our fixed income platform fully," he added.
By strategically investing in high-yield debt securities, JPHY is committed to allocating at least 80 percent of its assets to bonds and other debt securities rated below investment grade, aiming to deliver a high level of current income. JPHY is benchmarked against the ICE BofA US High Yield Constrained Index and is priced competitively at 45 basis points.
As per the release, an expert approach to security selection is crucial in the high-yield market, where the asymmetrical return profiles of securities demand exceptional judgment and risk management. J.P. Morgan's team of seasoned portfolio managers brings decades of expertise, stability, and proven track records, including Robert ...................... To view our full article Click here
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