J.P. Morgan Launches New ETFs, Plans To Add Jobs In Canada

JP Morgan Chase & Co. JPM shares are trading marginally higher on Wednesday. On Tuesday, J.P. Morgan Asset Management disclosed the expansion of its Canadian business with the launch of two active ETFs.

This launch strengthens JPMAM’s presence in Canada and provides increased access to global investment strategies through financial advisors.

Starting October 1, 2024, Canadian investors can access the JPMorgan US Equity Premium Income Active ETF JEPI and the JPMorgan Nasdaq Equity Premium Income Active ETF JEPQ on the Toronto Stock Exchange.

In line with JPMAM’s strategy, the two ETFs target equities for potential capital appreciation and steady income, appealing to income-focused Canadian investors.

Travis Hughes, Head of Canada, J.P. Morgan Asset Management, said, “The introduction of the J.P. Morgan ETFs in Canada is an important advancement of our Canada market strategy, with these offerings representing the first of a broad suite of active ETF solutions we plan to deliver over time.”

“As home to the first ETF, Canada is an ideal market for these offerings. The listing of JEPI and JEPQ is a significant milestone for JPMAM as it brings focus to both the firm’s success as an active manager and the breadth and depth of its global products.”

Along with this launch, JP Morgan plans to expand its asset management business in Canada, expecting to add up to 20 jobs over the next 18 months, reported Reuters.

Also Read: JP Morgan Targets UK With Fresh Credit Card Offering: Report

Investors can gain access to the stock via iShares U.S. Financial Services ETF IYG and SPDR Select Sector Fund – Financial XLF.

Price Action: JPM shares are up 0.14% at $207.33 at the last check Wednesday.

Photo by Katherine Welles on Shutterstock

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