NEW
YORK, Feb. 18, 2025 /PRNewswire/ -- J.P. Morgan
Asset Management has announced plans to convert the JPMorgan
Unconstrained Debt Fund, pending board approval in May 2025.
The converted ETF would be renamed JPMorgan Flexible Debt
ETF. The ETF will be managed in a substantially similar
manner to the mutual fund after conversion, which is anticipated to
take place during the third quarter of 2025, pending board
approval.
"Given continued market volatility and uncertainty, clients are
increasingly interested in accessing the flexible approach of this
strategy, which allows it to shift portfolio allocation in changing
market conditions," said Bob
Michele, Portfolio Manager for the fund and Head of Global
Fixed Income, Currency and Commodities for J.P. Morgan Asset
Management. "Evolving client interest leans toward providing
this strategy through an ETF vehicle, and we believe it lends
itself well to an active transparent structure."
The proposed conversion, which is subject to fund board
approval, is expected to provide benefits for investors of the
mutual funds. The additional trading flexibility, increased
portfolio holdings transparency and potential for enhanced tax
efficiency that come with ETFs carry significant value to many
investors.
The firm expects minimal client disruption, as the majority of
existing clients can hold ETFs. Shareholders should read the
information statements/prospectuses when available.
J.P. Morgan Asset Management is announcing the proposed
conversion plans well in advance to provide shareholders and
distributors with ample notice of the planned conversion and to
allow them time to engage with J.P. Morgan on the implications of
this important effort. It is anticipated that if the conversion is
approved by the board of the funds, it would not require
shareholder approval prior to implementation.
As a leading active manager, J.P. Morgan Asset Management is
committed to providing access to its investment capabilities
through a range of vehicles including ETFs, mutual funds,
commingled funds, SMAs and liquid alternatives. With $230 billion in ETF assets under management, J.P.
Morgan Asset Management ranks second in active ETF AUM globally
(source: Bloomberg as of 2/6/2025).
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of
$3.6 trillion (as of 12/31/2024), is
a global leader in investment management. J.P. Morgan Asset
Management's clients include institutions, retail investors and
high net worth individuals in every major market throughout the
world. J.P. Morgan Asset Management offers global investment
management in equities, fixed income, real estate, hedge funds,
private equity and liquidity. For more information:
www.jpmorganassetmanagement.com.
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial
services firm based in the United States
of America ("U.S."), with operations worldwide.
JPMorganChase had $4.2 trillion in
assets and $346 billion in
stockholders' equity (as of 12/31/2024). The Firm is a leader in
investment banking, financial services for consumers and small
businesses, commercial banking, financial transaction processing
and asset management. Under the J.P. Morgan and Chase brands, the
Firm serves millions of customers in the U.S., and many of the
world's most prominent corporate, institutional and government
clients globally. Information about JPMorgan Chase & Co. is
available at www.jpmorganchase.com.
J.P. Morgan mutual funds and ETFs are distributed by JPMorgan
Distribution Services, Inc., which is an affiliate of JPMorgan
Chase & Co. Affiliates of JPMorgan Chase & Co. receive fees
for providing various services to the funds. JPMorgan Distribution
Services, Inc. is a member of FINRA. More information is available
at
https://am.jpmorgan.com/us/en/asset-management/gim/adv/products/etfs.
Investors should carefully consider the investment
objectives and risks as well as charges and expenses of the funds
before investing. The summary and full prospectuses contain this
and other information about the funds and should be read carefully
before investing. To obtain a prospectus call
1-800-480-4111.
If the proposed conversions discussed herein are approved
by the board, an information statement/prospectus that will be
included in a registration statement on Form N-14 will be filed
with the SEC. After the registration statement is filed with the
SEC, it may be amended or withdrawn and the information
statement/prospectus will not be distributed to shareholders unless
and until the registration statement is declared effective by the
SEC. Investors are urged to read the materials and any other
relevant documents when they become available because they will
contain important information about the conversions. After they are
filed, free copies of the materials will be available on the SEC's
website at www.sec.gov. These materials also will be available at
www.jpmorganfunds.com and a paper copy can be obtained at no charge
by calling 1-800-480-4111.
This communication is for informational purposes only and
does not constitute an offer of any securities for sale. No offer
of securities will be made except pursuant to a prospectus meeting
the requirements of Section 10 of the Securities Act of
1933.
NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE
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SOURCE J.P. Morgan Asset Management
