NEW YORK CITY (dpa-AFX) - J.P. Morgan Asset Management announced that it has signed a letter of intent to negotiate a license for Precidian Investments LLC's patented intellectual property relating to the offering of actively-managed, periodically-disclosed exchange-traded funds (ETFs).
The Precidian model would allow J.P. Morgan to deliver actively managed investment strategies in an ETF vehicle without disclosing holdings on a daily basis. Precidian is seeking approval for use of ActiveShares from the SEC.
'J.P. Morgan has world class active management capabilities and we are excited to be able to deliver those capabilities to our advisor clients in ETFs just as we do in other products,' said Bob Deutsch, Head of ETFs for J.P. Morgan Asset Management.
Precidian's CEO, Daniel McCabe, stated 'we are thrilled to work with J.P. Morgan on what we hope will be the new standard for actively-managed, periodically-disclosed ETFs. Innovation is a hallmark of the asset management industry, and we are excited to continue working to bring new active strategies to investors.'
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