J.P. Morgan Asset Management Debuts New Event-Driven Alternative Beta ETF

Dec 6 2017 | 7:01pm ET

J.P. Morgan Asset Management has unveiled a new event-driven ETF as part of a forthcoming family of liquid single-strategy alternative beta products. 

The new fund, named the JPMorgan Event Driven ETF, will trade under the symbol JPED, the company said in a statement. It can be used in a variety of strategic ways, including complementing core hedge fund allocations, providing targeted exposure within a portfolio, achieving lower beta exposure to the global equity market or building a liquid alternatives allocation.

Event-driven investing seeks to capture pricing inefficiencies that may happen before or after a corporate "event," such as earnings announcements, mergers, spinoffs or bankruptcies, the company explained. The new ETF uses a rules-based, bottom up security selection process to capture a wide range of these event-driven hedges. It will be managed by Dr. Yazann Romahi, CIO of quantitative beta strategies and a portfolio manager at J.P. Morgan Asset Management. 

J.P. Morgan Asset Management's ETF suite features nineteen product offerings with over $2 billion in assets under management, the statement continued. The company as a whole currently manages more than $120 billion in alternative investments and $1.6 trillion total for institutions, retail investors and high-net worth individuals in every major market throughout the world.  

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