JP Morgan cross-lists alternative beta ETFs onto Borsa Italiana

Feb 23rd, 2018 | By | Category: Alternatives / Multi-Asset

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JP Morgan Asset Management (JPMAM) has cross-listed its two active, alternative beta ETFs onto Borsa Italiana in Milan.

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JP Morgan has cross-listed two active alternative beta ETFs onto the Borsa Italiana

The two funds, the JP Morgan Equity Long-Short UCITS ETF (JELS LN) and the JP Morgan Managed Futures UCITS ETF (JPMF LN), are already listed on the London Stock Exchange, and are also due to go live on Deutsche Borse on 27 February 2018.

JP Morgan launched the funds in November last year. They marked the firm’s entrance into the European ETF market.

The ETFs aim to provide returns similar to hedge fund strategies by using advanced factor-based investing techniques.

Both strategies use a systematic, rules-based investment approach, with the goal of providing returns that are uncorrelated to traditional asset classes in a liquid, cost-effective and transparent vehicle.

JELS provides exposure to developed equity market factors, such as value, quality and momentum. The portfolio is constructed bottom-up by taking long and short position in individual equity securities. The ETF has a return target of cash +4% (gross of fees), a risk target of 6-8% per annum, an expected beta of up to +0.3, and a total expense ratio (TER) of 0.67%. It has accumulated $17.5m is assets under management since its launch in November.

JPMF offers exposure to the carry and momentum factors across equities, fixed income, currencies and commodities. The strategy will be constructed bottom-up by taking long and short positions in futures markets. The ETF has a return target of cash +4% (gross of fees), a risk target of 6-8% per annum and a TER of 0.57%. It has accumulated $54m in assets under management since its launch in November.

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