Author: Lekha Gupta

JPMorgan Chase & Co.‘s JPM J.P. Morgan Asset Management penned a deal to enhance its Morgan Money offering through a strategic partnership with GLMX, a global money market trading platform.

Morgan Money is a global trading platform that provides effective short-term investment management solutions tailored for institutional investors.

With $313 billion in assets under management as of June 30, 2024, the platform facilitates efficient liquidity and cash investment management, allowing clients to maximize outcomes with fewer resources.

This collaboration allows clients to access GLMX’s advanced trading technology directly, broadening their short-term investment options.

The integration offers a comprehensive suite of money market instruments, including money market funds, repurchase agreements, time deposits, CDs, commercial paper, and government securities.

Glenn Havlicek, CEO and Co-founder of GLMX, said, “This collaboration with J.P. Morgan Asset Management is a result of investors’ desire to access the entire investable universe of short-term instruments with a seamless experience.”

“We bring GLMX’s $3 trillion ecosystem to J.P. Morgan’s client base as we seek to collaborate with industry leaders to provide innovative and easily accessible solutions for our collective clients.”

Also Read: JP Morgan Takes Stake In Australian Casino Operator Star Entertainment: Details

Last week, J.P. Morgan expanded its Canadian business with the launch of two active ETFs on the Toronto Stock Exchange.

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 down 0.07% at $210.78 at the last check Tuesday.

Image via Shutterstock

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JP Morgan Chase & Co. JPM shares are trading higher on Friday. On October 1, 2024, the company became a substantial shareholder in The Star Entertainment Group Limited, acquiring 156.99 million ordinary shares, representing 5.47% voting power.

Star Entertainment is an Australian casino operator. The company has been in troubled waters due to liquidity issues, and shares dipped by 66% in 2023, reported Reuters.

Star Entertainment owns and operates The Star Sydney, The Star Gold Coast and Treasury Brisbane. It also manages the Gold Coast Convention and Exhibition Centre on behalf of the Queensland Government.

This week, JP Morgan expanded its Canadian business by launching two active ETFs on the Toronto Stock Exchange. The new ETFs target income-focused Canadian investors, offering capital appreciation and steady income.

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

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 1.73% at $208.78 at the last check Friday.

Photo by Katherine Welles on Shutterstock

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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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