JP Morgan Asset Management to liquidate six ETFs
JP Morgan Asset Management is to liquidate 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 (NYSE Arca) until market close on the designated last day of trading (transaction fees from their broker-dealer may be incurred).
Shares of JPEU, JPLS and JPMF will stop accepting creation orders from authorised participants after the close on 12 June, 2020, and will be delisted ahead of market open on 15 June, 2020. Additionally, shares of JPGE, JPHF, and JPED will stop accepting creation orders from authorised participants after the close on 19 June, 2020, and will be delisted ahead of market open on 22 June, 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," says Bryon Lake, Head of Americas ETF for JP Morgan Asset Management. "This process allows us to optimise and scale our product offerings to better meet client objectives and market demand."