JPM Financial News

The JPM Global (ex-UK) Bond; JPM Multi-Manager Growth; JPM Global Corporate Bond and the JPM US Equity Income funds will all have their fees reduced from 2 September.  In its latest Assessment of Value report, JPMAM revealed that the largest discount to ACD fees — the fee collected by its authorised corporate director -  will apply to the JPM US Equity Income fund's ‘B share' class, which will entail a 20% reduction from 1% to 0.8%.  JP Morgan European Discovery trust proceeds with double tender offer as it attempts to narrow discount C-share class fees in the strategy will also dr...

Citron is already a named manager on JPMAM's Emerging Markets and Asia Pacific (EMAP) equities team and has run the £1bn closed-ended version of his new mandate alongside Austin Forey since March 2021. Citron joined Forey and Leon Eidelman on the JPM EM fund on the 19 March, according to a company filing. Alliance Witan chair Dean Buckley joins JPM EM board Forey and Eidelman have run the OEIC since 1997 and 2013, respectively. The JPM Emerging Markets fund is third quartile over three years, returning 6.8% versus the IA Global Emerging Markets sector average of 9.4% as at 26 Ma...

Buckley took on the role of non-executive director in early January, a move confirmed in the trust's half year report published today (25 February). This role is in addition to his other duties as chair of Fidelity Special Values and Evelyn Partners Fund Solutions Limited and non-executive director of Baillie Gifford. Witan shareholders overwhelmingly approve merger with Alliance trust He replaces Andrew Page, who retired from the board in November after a nine-year tenure at the company. Buckley's appointment follows a positive period for the trust, boasting a 2.8% return on a ...

JEMA's manager informed the trust's board of the legal proceedings today (20 February), which relate to the purchase of Eurobonds for a fee of $830,183, according to a stock exchange notice.  It explained that the Russian bank allegedly made a payment in February of 2022 but did not receive the Eurobonds due to sanctions imposed following Russia's invasion of Ukraine.  Assets frozen in former JPM Russia trust over alleged debts to VTB JEMA said: «We are not aware of any nexus between JEMA and amounts or Eurobonds allegedly owing to Sberbank KIB. We will continue to monitor the proc...

The cuts were applied to the £826.7m Europe Equity Absolute Alpha (share class C); £2bn US Equity All Cap (share classes C, I and I2); £5.8bn US Select Equity Plus (share classes C, I, and I2) and £536.2m Emerging Markets Strategic Bond (share classes A, C and I) funds. The largest cut was applied to the Europe Equity Absolute Alpha (share class C) strategy, with the fee being reduced from 1.65% to 1.35%. JP Morgan AM slashes fees across four funds and flags several poor performing strategies Meanwhile, JPM US Equity All Cap (classes C and I) had their fees cut from 0.65% to 0.6%, ...

The asset manager has proposed combining the JPM UK Equity Value and JPM UK Equity Income funds due to perceived «limited growth» in the former, according to a letter sent to shareholders dated 29 August. According to the authorised corporate director (ACD), shareholders in the value fund will «benefit from investing in a fund with better prospects for stronger growth in assets in the future». «This growth can lead to economies of scale with the potential for lower fund expenses,» it said. JP Morgan AM slashes fees across four funds and flags several poor performing strategies T...

In a stock exchange notice, the board said it would consult with shareholders and put forward proposals for the reconstruction, reorganisation or wind-up of the trust within the next six months.  Other resolutions, which included a change to the investment policy and a change to the frequency of future continuation resolutions to every three years, were passed. The board had unanimously recommended that shareholders vote in favour of continuation, which required a simple majority of votes to pass. The trust has yet to publish the poll results and turnout figures.  JPM Global Core R...

inclusion in a JP Morgan bond index, but a senior Citi executive feels that number may be topped as the Fed is likely to start cutting rates soon, turning Indian debt into a favourite within the emerging markets pack. “The last US inflation reading was softer than what the market expected, so we actually think that the Fed might commence with the rate cut cycle from September and could maybe do three rate cuts this year itself,” Aditya Bagree, head, markets, Citi — India & Indian subcontinent, told ET in an interview.

JP Morgan bond index got off to a muted start with a lower-than-expected quantum of foreign flows on Friday, belying expectations of an immediate deluge. Bankers, including a top executive at the US bank, said however that overseas investment worth billions will steadily be pumped into the debt market of the world's fastest-growing major economy. Indian bonds debuted in JP Morgan's GBI-EM global index suite on Friday, with the country expected to reach a maximum weight of 10% in the GBI-EM Global Diversified Index over a 10-month period. JP Morgan's analysts expect foreign investment worth $20-25 billion to flow to the local bond market from the move.

JP Morgan bond index got off to a muted start with a lower-than-expected quantum of foreign flows on Friday, belying expectations of an immediate deluge. Bankers, including a top executive at the US bank, said however that overseas investment worth billions will steadily be pumped into the debt market of the world’s fastest-growing major economy. Indian bonds debuted in JP Morgan’s GBI-EM global index suite on Friday, with the country expected to reach a maximum weight of 10% in the GBI-EM Global Diversified Index over a 10-month period. JP Morgan’s analysts expect foreign investment worth $20-25 billion to flow into the local bond market from the move.

In a stock exchange notice today (25 May), the board said it intends to amend its investment policy so that allocations to real estate can be reduced in favour of other real assets categories, such as infrastructure, transport and mezzanine debt. To do so, the trust has proposed raising the current investment restriction from a maximum of 20%, to a maximum of 30% of its gross asset value in any single private fund, and otherwise no more than 20% of its gross asset value in securities, or other interests, of any single company or other entity.  JPM Global Core Real Assets trims listed ...

bond traders have suffered spent nights over the past year amid wild swings in US rate expectations, but India's sovereign debt players have bonded with bonds on fears of missing out after Mint Road sought to decelerate the rate-increase drive, while JPMorgan gave local debt the recognition it deserves through its inclusion on a globally tracked gauge. In 2023, the value of total monthly trades in Indian government securities averaged ₹8.6 lakh crore, 40% higher than ₹ 6.2 lakh crore in the previous month, Clearing Corporation of India (CCIL) data showed. The uptick has continued in the current year, with the value of monthly trades from January to April at ₹8.7 lakh crore, the data — which counts April as the latest month — showed.

The DLR platform taps distributed ledger technology to offer Broadridge clients intra-day, overnight and term repo capabilities.The partnership will be the first time that JPM Coin - developed by JP Morgan's blockchain unit Onyx - will provide settlement capabilities to an external digital platform. JPM Coin will be available by June.JP Morgan argues that, given the lack of “cash-on-chain” solutions in the industry today, it could act as a framework for other cash settlement solutions for other digital platforms.

According to a regulatory filing, JEMA is one of a range of JP Morgan entities that have been named as defendants in civil proceedings brought by VTB in Russian courts, which were commenced on 17 April. The claim relates to $439m held in a correspondent bank account with JP Morgan Chase Bank's New York branch, which has been blocked due to sanctions. The board of JEMA stated it was unaware of any connection between the trust and «amounts owing to VTB». Smaller board and new manager for reformed JPM Russia portfolio A Russian court granted VTB a freezing order in support of its c...

JPMorgan’s Q1 results are out, and while the Corporate and Investment Bank (CIB)’s revenue figures went on a bit of a rollercoaster, one thing was more interesting than any revenue figure: the bank, for the first time in over 5 years, reduced its headcount over the first quarter of the year.

Vis Raghavan may not have been the most popular person at JPMorgan, but he had his chums there. And now that he's gone to Citi, people at JPMorgan are wondering who might join him.

Achintya Mangla didn't stay long in New York. After moving from London to JPM's New York headquarters to become global head of equitycapital markets in September 2022, the bank today waved him on his way.

By Mimosa Spencer

JPMorgan quant strategists have identified “a plethora of similarities” between the current rally in US stocks and the dot-com bubble, despite common dismissals of such parallels due to the distinct «irrational exuberance» of the latter period.

JPMorgan CEO Jamie Dimon had some choice words about investing in Bitcoin during his latest media appearance this morning.

Earnings season is set to kick off with results from some of America's biggest banks, including JPMorgan Chase (NYSE:JPM), Bank of America (NYSE:BAC), and Citigroup (NYSE:C) — due tomorrow before the market opens.