NEW YORK, May 15, 2020 /PRNewswire/ -- J.P. Morgan Asset
Management today announced the upcoming liquidation and
dissolution of six exchange-traded funds: JPMorgan Diversified
Return Europe Equity ETF (JPEU), JPMorgan Long/Short ETF
(JPLS), JPMorgan Managed Futures Strategy ETF (JPMF),
JPMorgan Diversified Return Global Equity ETF (JPGE),
JPMorgan Diversified Alternatives ETF (JPHF), and JPMorgan
Event Driven ETF (JPED) (collectively, the "Funds").
Shareholders of the Funds may sell their holdings of each Fund
on NYSE Arca, Inc. ("NYSE Arca") until market close on the
designated last day of trading (transaction fees from their
broker-dealer may be incurred).
|
ETF
Name
|
Ticker
|
Last Day of
Trading
|
Liquidation
Date
|
|
JPMorgan Diversified
Return Europe Equity
ETF
|
JPEU
|
6/12/2020
|
6/19/2020
|
|
JPMorgan Long/Short
ETF
|
JPLS
|
6/12/2020
|
6/19/2020
|
|
JPMorgan Managed
Futures Strategy ETF
|
JPMF
|
6/12/2020
|
6/19/2020
|
|
JPMorgan Diversified
Return Global Equity ETF
|
JPGE
|
6/19/2020
|
6/26/2020
|
|
JPMorgan Diversified
Alternatives ETF
|
JPHF
|
6/19/2020
|
6/26/2020
|
|
JPMorgan Event Driven
ETF
|
JPED
|
6/19/2020
|
6/26/2020
|
Shares of JPEU, JPLS and JPMF will stop
accepting creation orders from authorized participants after the
close on June 12, 2020, and will be
delisted ahead of market open on June 15,
2020. Additionally, shares of JPGE, JPHF, and
JPED will stop accepting creation orders from authorized
participants after the close on June 19,
2020, and will be delisted ahead of market open on
June 22, 2020.
Shareholders who continue to hold shares of any of the Funds on
the Funds' designated aforementioned liquidation date 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.
"We regularly monitor and evaluate our product lineup as market
and economic conditions evolve," said Bryon
Lake, Head of Americas ETF for J.P. Morgan Asset Management.
"This process allows us to optimize and scale our product offerings
to better meet client objectives and market demand."
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.
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of
USD 1.9 trillion (as of 31 March 2020), 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) is a leading global financial
services firm with assets of USD
2.7 trillion (as of 31 December
2019) and operations worldwide.
J.P. Morgan Asset Management is the marketing name for the asset
management businesses of JPMorgan Chase & Co. and its
affiliates worldwide.
J.P. Morgan ETFs are distributed by JPMorgan Distribution
Services, Inc., which is an affiliate of JPMorgan Chase & Co.
Affiliates of JPMorgan Chase & Co. receive fees for providing
various services to the funds. JPMorgan Distribution Services, Inc.
is a member of FINRA.
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.
NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE
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SOURCE J.P. Morgan Asset Management