JPMorgan to lists hedge fund as an ETF
JPMorgan is listing an actively managed event-driven ETF that looks and smells like a hedge fund, the JPMorgan Event Driven ETF (JPED).
JPED will invest in companies that will be affected by events while maintaining relatively low correlations with traditional markets. JPED will identify which events and what companies to invest in by examining a series of “return factors”, the prospectus says, where “each return factor represents a potential source of investment return.” Under normal market conditions, the return factors include: merger arbitrage, activism tracking, share buybacks, parents and spinoffs, and post-reorganization equities.
JPED can invest in companies anywhere in the world, through shares or derivatives.
iShares relists distributing version of global bond ETF
iShares is listing a distributing version of its flagship bond ETF the iShares Global Aggregate Bond UCITS ETF (SAGG, AGGG). The fund will be available in both US dollars and pound sterling. The fund will track the Barclays Capital Global Aggregate Bond Index, a major benchmark. The iShares ETF in the US that tracks this index (AGG) has roughly $52bn under management, making it one of the largest ETFs in the world.