NEW YORK, April 4, 2017 /PRNewswire/ -- J.P. Morgan Asset Management announced today that the JPMorgan Municipal Income Fund (OTBAX) has received a "Socially Conscious" designation from Morningstar, making it one of the first in the municipal bond space. The fund has an established track record and investment process, and the new categorization formalizes its long-held, sustainable investing practices.
The fund is designed to invest the majority of its assets in municipal bonds which provide positive social and environmental benefits. In order to identify bonds with positive social impacts, portfolio managers, working closely with credit research analysts, have developed a proprietary framework which relies on internal assessment and third party data to track each bond's intended use-of-proceeds. Current income continues to be the fund's primary focus, and it seeks to produce income in a manner consistent with the preservation of principal.
With over 70 years combined experience, the fund is managed by a seasoned team, including portfolio managers, Jennifer Tabak and David Sivinski. It currently has $269 million in AUM and a 24-year track record.
"Municipal bonds naturally align with a sustainable mission, as debt proceeds often fund essential services that benefit states and local communities," said Rick Taormina, Head of Tax Aware Strategies for J.P. Morgan Asset Management. "We are thrilled that Morningstar has recognized our ESG investment capabilities, factors which we have incorporated in for decades."
"Clients are increasingly looking for sustainable investment strategies to build out their portfolios and there are limited investment options for municipals," said Jamie Kramer, Head of Strategic Product Management & ESG for J.P. Morgan Asset Management. "We believe that the JPMorgan Municipal Income Fund is well-positioned over the long-term to serve as a socially responsible solution within our fixed-income product offering."
To keep clients up-to-date on J.P. Morgan's ESG progress, the firm has launched a public website: jpmorgan.com/esg
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of $1.5 trillion (as of December 31, 2016), 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 financial services firm with assets of approximately $2.5 trillion (as of September 30, 2016) and operations in more than 60 countries. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
Investors should carefully consider the investment objectives and risks as well as charges and expenses of a mutual fund before investing. The summary and full prospectuses contain this and other information about the mutual fund and should be read carefully before investing. To obtain a prospectus for Mutual Funds: Contact JPMorgan Distribution Services, Inc. at 1-800-480-4111 or download it from this site.
JPMorgan Distribution Services, Inc., member FINRA/SIPC
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SOURCE J.P. Morgan Asset Management