A $2.6T-AUM Firm Debuts Its 41st ETF
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Thursday, May 5, 2022

A $2.6T-AUM Firm Debuts Its 41st ETF

A $2.6-trillion-AUM (as of March 31) asset manager's team is rolling out another active ETF.

Mary Callahan Erdoes
J.P. Morgan
CEO of Asset and Wealth Management
Yesterday, Hamilton Reiner, head of U.S. equity derivatives at J.P. Morgan Asset Management [profile], and Byron Lake, global head of ETF solutions at JPMAM, unveiled the new JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). The new fund is JPMAM's first listed on the Nasdaq. (The launch boosts JPMAM's $75-billion-plus-AUM ETF business to 41 funds in total.)

The new fund is a series of the J.P. Morgan Exchange-Traded Fund Trust and comes with an expense ratio of 35 basis points. Reiner, a managing director serves as its lead PM, while Eric Moreau and Andrew Stern (both executive directors) will PM alongside Reimer. J.P. Morgan Investment Management Inc. serves as the fund's investment advisor, while JPMorgan Chase Bank serves as custodian, fund accounting agent, and transfer agent, and JPMorgan Distribution Services, Inc. serves as distributor.

JEPQ debuted on Tuesday, and it had $25.58 million in AUM as of yesterday.

Reiner puts the launch in the context of investors' search for yield.

"JEPQ is an innovative income soultion which employs our differentiated options overlay strategy," Reiner states. "Leveraging our differentiated alpha engine, JEPQ is an active solution for investors looking to drive portfolio allocations while maximizing risk-adjusted expected returns."

The new fund's other service providers include: Citibank as securities lending agent; Decehert as counsel; and PricewaterhouseCoopers LLP (PWC) as independent accounting firm.

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