JPMorgan Asset Management, a subsidiary of the nation's second largest bank, more than tripled its business in 2004 on the strength of its product offering in municipals, mid-cap value, large cap and international equities. That represents a 211% growth rate year-over-year compared to an industry growth rate of 15.9%, according to
The dramatic growth of its SMA business reflects a total of 25,000 accounts, offered through 14 different sponsors, as compared to 6,900 accounts at the end of 2003.
"We are intensely committed to the growth of this business," said Nicole St. Pierre, head of the managed accounts business at JPMorgan. "Over the past four years we have made a tremendous investment in our operating environment, which allows us to provide top quality service to our sponsors, financial advisors and their clients."
JPMorgan Funds has $228 billion in assets under management in 101 funds, 14 separate account strategies and 45 sub-advisory relationships.