The New York company wants to introduce both actively managed and index-based ETFs, according to the filings made with the SEC on Wednesday.
The company plans to launch its first actively-managed ETF later this year that would invest in about 300 domestic large-cap stocks. For such actively managed ETFs, JPMorgan Chase wants to be able to have funds that can hold stocks, bonds, open end funds, closed end funds and unit investment trusts.
The company is also interested in a pair of index-based ETFs, one that tracks an index of investment-grade U.S. municipal bonds with maturities between one and 12 years, and another that will track investment-grade U.S. corporate debt with an issuance of at least $300 million.
Despite the market turmoil in the past few years, ETFs have remained a hot sector. Assets held in domestic exchange-traded funds rose 2.9% in February to $752 billion, according to the
As of Feb. 28, 856 ETFs were managed nationally by 31 asset management companies. The top three managers collective accounted for 83.8% of the U.S. listed ETF assets under management. As of Feb. 28,
Despite this overwhelming majority, the share of total ETF assets held by these three managers declined 0.5% in February as smaller providers continued to gather assets.
Other companies, including Baltimore’s
In addition to ETFs, JPMorgan Chase’s mutual fund arm, J.P. Morgan Funds, has been looking for other ways to beef up distribution. The unit increased its assets under management 6.97% last year to $445 billion and now it has its sights set on developing more assets through banks. Last month, it announced it hired John Holcombe Boyd, the director of wealth management services for
J.P. Morgan Funds had $26 billion of inflows into long-term funds last year, according to