JP Morgan Asset Management (JPMAM) has expanded its core range with the launch of a short duration US Treasury bond ETF, ETF Stream can reveal.
The JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF (BB3M) is listed on the London Stock Exchange (LSE) and CBOE Netherlands with a total expense ratio (TER) of 0.07%.
BB3M tracks the ICE 0-3 Month US Treasury Notes & Bills index which offers investors exposure to US Treasuries with a maturity of less than or equal to three months.
Commenting on the launch, Olivier Paquier (pictured), head of ETF distribution, EMEA, at JPMAM, said: “We remain focused on offering international investors a wide range of solutions to assist with building better portfolios.
“In response to client demand, BB3M was launched as a solution which offers investors a specific fixed income exposure. We are delighted to be able to offer access to JPMAM’s expertise, to help meet the needs of this core allocation, via the ETF wrapper.”
JP Morgan AM restructures ETF sales team as Lake moves to the US
The latest launch adds to the firm's existing range of US Treasury ETFs which includes the $2.3bn JPMorgan BetaBuilders US Treasury Bond 0-1 Yr UCITS ETF (BBIL) and the $194m JPMorgan Betabuilders US Treasury 1-3 Yr UCITS ETF (JU13).
JPMAM also offers two ultra-short duration bond ETFs, the $162m JPMorgan USD Ultra-Short Income UCITS ETF (JPST) and the €640m JPMorgan EUR Ultra-Short Income UCITS ETF (JEST), which also track ICE indices.
BlackRock runs the largest ultra-short ETF on the European market, the iShares € Ultrashort Bond UCITS ETF (ERNE), which has €2.5bn assets under management (AUM).