J.P. Morgan Asset Management has made a passive, minority investment in Global X Management Co. LLC, a New York-based exchange-traded fund provider with more than 40 ETF offerings, said JPMAM spokesman Matthew Chisum.
Terms of the deal were not disclosed.
“Investing in Global X augments our ETF strategy by expanding and deepening our participation in this fast-growing industry,” said Jed Laskowitz, co-head of global investment management solutions for J.P. Morgan Asset Management, in a news release announcing the deal. “We will continue to develop the J.P. Morgan ETF lineup with an eye toward future innovation in active ETFs while building this strategic partnership.”
This investment will have no impact on how J.P. Morgan and Global X operate their respective ETF businesses. Specifically, there will be no co-marketing, investment management, distribution agreements or shared governance between the two organizations.
In addition, this investment does not result in Global X becoming an affiliate of J.P. Morgan.
Global X has more than $3 billion in assets.
