YORK, and RADNOR,
Pa., Dec. 19, 2022 /PRNewswire/ -- – J.P.
Morgan Asset Management and Lincoln Financial Group today announced
that they have strengthened their partnership to have J.P. Morgan's
world class investment capabilities as part of Lincoln Financial
Group's platform, further enhancing Lincoln's broad offerings of leading
insurance, retirement and variable annuity solutions.
Under this initiative, shareholders of four JPMorgan Insurance
Trust Portfolios (JPM VITs) will be asked to approve a proposal to
merge the JPM VITs into four corresponding, newly formed series of
Lincoln Financial Variable Insurance Products Trust (LVIP Acquiring
Funds). The JPM VITs represent four of J.P. Morgan's flagship
investment strategies across equities and fixed income asset
Trust Core Bond Portfolio
LVIP JPMorgan Core
Trust Mid Cap Value Portfolio
LVIP JPMorgan Mid
Cap Value Fund
Trust Small Cap Core Portfolio
LVIP JPMorgan Small
Cap Core Fund
Trust U.S. Equity Portfolio
LVIP JPMorgan U.S.
Pending shareholder approval of the merger, J.P.
Morgan1 will serve as the subadvisor for each LVIP
Acquiring Fund and will continue to manage the LVIP Acquiring Funds
using its world-class portfolio management teams and investment
processes. Lincoln Investment Advisors Corporation (LIAC) will be
retained as the investment adviser to each LVIP Acquiring Fund.
"As a leading provider of life, annuity and retirement solutions
with a $90 billion funds platform, we
are thrilled to have these capabilities as part of our subadvised
lineup, further enhancing how we address core investor needs," said
Ben Richer, Head of Funds
Management, Lincoln Financial Group. "The combination of our scale,
resources and investment platform design with J.P. Morgan's
portfolio management capabilities will deliver a best-in-class
offering for our clients."
J.P. Morgan's subadvisory business oversees $75 billion in assets under management across
variable annuity and mutual fund products and is a top five
variable annuity subadvisor in the industry.
"This partnership underscores our complete focus on subadvisory
relationships, the investment strategies that underpin them and
supporting our clients' own growth strategies," said Eric Wilson, Head of Subadvisory for J.P. Morgan
Asset Management. "We have a significant subadvisory relationship
with Lincoln Financial and look forward to deepening this
partnership and most importantly, delivering investment
The transaction is expected to take place in May 2023.
1 J.P. Morgan Investment Management Inc.
currently serves as the investment adviser to the JPM VITs
About Lincoln Financial Group
Lincoln Financial Group provides advice and solutions that help
people take charge of their financial lives with confidence and
optimism. Today, approximately 16 million customers trust our
retirement, insurance and wealth protection expertise to help
address their lifestyle, savings and income goals, and guard
against long-term care expenses. Headquartered in Radnor, Pennsylvania, Lincoln Financial Group
is the marketing name for Lincoln National Corporation (NYSE:LNC)
and its affiliates. The company had $270
billion in end-of-period account values as of September 30, 2022. Lincoln Financial Group is a
committed corporate citizen included on major sustainability
indices including the Dow Jones Sustainability Index North America
and FTSE4Good and ranks among Newsweek's Most Responsible
Companies. Dedicated to diversity, equity and inclusion, we are
included on transparency benchmarking tools such as the Corporate
Equality Index, the Disability Equality Index and the Bloomberg
Gender-Equality Index. Committed to providing our employees
with flexible work arrangements, we were named to FlexJobs' list of
the Top 100 Companies to Watch for Remote Jobs in 2022. With a
long and rich legacy of acting ethically, telling the truth and
speaking up for what is right, Lincoln was recognized as one of
Ethisphere's 2022 World's Most Ethical Companies®.
We create opportunities for early career talent through our intern
development program, which ranks among WayUp and Yello's annual
list of Top 100 Internship Programs. Learn more
at: www.LincolnFinancial.com. Follow us on Facebook, Twitter,
LinkedIn, and Instagram. Sign up for email alerts at
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of
$2.3 trillion (as of Sept 30, 2022), 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. For
more information: www.jpmorganassetmanagement.com.
J.P. Morgan Asset Management is the marketing name for J.P.
Morgan Investment Management Inc. ("JPMIM"), the asset management
businesses of JPMorgan Chase & Co. (NYSE: JPM) and its
NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE
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SOURCE J.P. Morgan Asset Management