JP Morgan Chase’s asset management arm has forayed into the US$1.8 trillion US exchange-traded fund (ETF) market by launching its first ETF.
The JPMorgan Diversified Return Global Equity (JPGE) is a strategic beta, developed market equity ETF that tracks an index co-developed with FTSE Group – the FTSE Developed Diversified Factor Index.
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It seeks to provide global equity returns from four distinct return factors and reduced volatility by diversifying risks across regions and sectors. It is designed to be a core global equity allocation.
The fund is designed to provide market participation with lower volatility, and starts with the premise that traditional market-cap weighted and single-factor indices expose investors to excessive risk concentrations and a systematic bias toward overvalued securities.
The fund is managed by a team led by Beltran Lastra, whose team currently manages US$12 billion in AUM globally (as of April 30, 2014).
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