NEW YORK, March 5, 2019 /PRNewswire/ -- J.P. Morgan Asset Management today announced the upcoming liquidation and dissolution of two exchange-traded funds: JPMorgan Diversified Return International Currency Hedged ETF (JPIH) and JPMorgan Diversified Return Europe Currency Hedged ETF (JPEH) (collectively, the "Funds").
Shareholders of the Funds may sell their holdings of each Fund on NYSE Arca, Inc. ("NYSE Arca") until market close on March 28, 2019 (transaction fees from their broker-dealer may be incurred). The Funds' shares will no longer trade on NYSE Arca after market close on March 28, 2019, and the shares will subsequently be delisted. Shareholders who continue to hold shares of any of the Funds on the Funds' liquidation date, which is expected to be on or about April 5, 2019, will receive a liquidating distribution of cash in the cash portion of their brokerage accounts equal to the amount of the net asset value of their shares. Proceeds from the liquidation are currently scheduled to be sent to shareholders on or about April 5, 2019. Additionally, the Funds will stop accepting creation orders from authorized participants after the close of business on March 28, 2019.
Shareholders who receive a liquidating distribution generally will recognize a capital gain or loss equal to the amount received for their shares over their adjusted basis in such shares if shares are held in taxable account, and should consult their tax advisor about the potential tax consequences.
"We are constantly evaluating our product lineup to ensure we offer the best solutions for our clients," said Ogden Hammond, Global Head of Beta Product & Business Development at J.P. Morgan Asset Management. "We want to make sure that our products align with investor demand and the evolving investment landscape."
Following the liquidations, J.P. Morgan Asset Management's ETF suite will feature 30 product offerings with over $20 billion in assets under management.
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of $1.7 trillion (as of December 31, 2018), is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. JPMorgan Chase & Co. (NYSE: JPM), the parent company of J.P. Morgan Asset Management, is a leading global asset management firm with assets of approximately $2.6 trillion (as of December 31, 2018) and operations worldwide. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
J.P. Morgan Asset Management is the marketing name for the asset management businesses of JPMorgan Chase & Co. and its affiliates worldwide.
Investors should carefully consider the investment objectives and risks as well as charges and expenses of an ETF before investing. The summary and full prospectuses contain this and other information about the ETF and should be read carefully before investing. To obtain a prospectus: Call 1-844-4JPM-ETF.
JPMorgan ETFs are distributed by JPMorgan Distribution Services, Inc. member FINRA
SOURCE J.P. Morgan Asset Management