JP Morgan Asset Management (JPMAM) has listed five European ETFs on the Italian Stock Exchange (Borsa Italiana), including three bond strategies and two liquid alternatives vehicles.
The five listed strategies include three bond strategies – JPMorgan USD Ultra Short Income Ucits ETF, JPMorgan USD Emerging Markets Sovereign Bond Ucits ETF and JPMorgan BetaBuilders EUR Govt Bond 1-3yr Ucits ETF – and two liquid alternative ETFs, JPMorgan Managed Futures Ucits ETF and JPMorgan Equity Long-Short Ucits ETF.
JPMorgan USD Ultra Short Income Ucits ETF, managed by JPMAM’s JP Morgan Global Liquidity Managed Reserves team, aims at offering a diversified exposure to bonds with a very short maturity and to corporate and government investment grade debt instruments.The ETF, aimed at targeting a portfolio duration of less than one year, can invest in all areas of fixed income but with a focus on corporate credit and investment grade.
JPMorgan USD Emerging Markets Sovereign Bond Ucits ETF replicates the newly created bond index JPM Emerging Market Risk-Aware Bond Index, carried out by the Quantitative Beta Strategies (QBS) team of JPMAM. This ETF, built from one of the company’s main indices – the JPMorgan EMBI Global Diversified Index – offers exposure to sovereign debt denominated in dollars on EM.
JPMorgan BetaBuilders EUR Govt Bond 1-3yr Ucits ETF aims to replicate the JP Morgan EMU Government Bond 1-3 Year Index and has a maximum TER of 10 basis points.
JPMorgan Managed Futures Ucits ETF seeks to offer a factorial exposure on the main asset classes and has a strategy built on a bottom-up approach to take long and short positions on the future markets.
JPMorgan Equity Long-Short Ucits ETF, whose portfolio is built with a bottom-up approach taking long and short positions on individual stocks, aims at offering long-short exposure to Developed Market factors.
JPMAM has unveiled its growth plans for Italy, with the goal to offer 50 ETFs on the Italian market within three years.
Lorenzo Alfieri, Italy country head at JP Morgan Asset Management, said: “The launch of these first ETFs on Borsa Italiana is an important step in our strategy, also on the Italian market.
“The growth of the industry in 2017 has seen an increase in the assets actively managed and also in those managed passively managed. However, we do not see passive management over active one, which in our opinion will continue to play a role of relevance. We believe both management must coexit, hence in this current context and following the entry into force of Mifid II, that a global player such as JPMAM must be able to offer increasingly broader advice.”