LondonJP Morgan lists bond ETFs
World's largest financial institution JP Morgan is listing three new ETFs in London as it enters Europe's fixed income ETF arena late but hard. The three new listings, available both in USD and GBP are:
- JP Morgan USD Emerging Markets Sovereign Bond UCITS ETF (JPMB, JPBM)
- JP Morgan USD Ultra-Short Income UCITS ETF (JPST, JPTS)
- JP Morgan BetaBuilders EUR Govt Bond 1-3 yr UCITS ETF (JE13, J13E)
JPST is actively managed and goes for US dollar denominated debts that have maturity dates less than one year away, perhaps countenancing fears that interest rates will rise. (Short-term debts are less susceptible to interest rate movements). The company has already listed this product in the US with the same ticker on the ETF-specialist BATS exchange. The fund has attracted more than $120m in assets despite being listed only in May 2017.
JE13 tracks the J.P. Morgan EMU Government Bond Index 1-3 Year, of EMU government short-term bonds. The fund charges a rock-bottom rate of 10%.