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JPMorgan takes a passive stake in ETF provider Global X

Thu 14th April, 2016 1:15pm
April 14 (Reuters) - JPMorgan Chase & Co's  JPM.N  asset 
management arm said it has taken a passive, minority stake in 
New York-based exchange-traded fund (ETF) provider Global X 
Management Co LLC. 
    Traditional asset managers have been eager to build ETFs, 
which are typically lower cost and have been gaining assets at a 
faster clip than other investment products. ETFs account for $3 
trillion globally. 
    Legg Mason Inc  LM.N  said it January it had taken a stake 
in ETF company Precidian Investments.  urn:newsml:reuters.com:*:nL2N1561F3 
    JPMorgan Asset Management, which manages $1.7 trillion, 
launched its first seven U.S. ETFs over the last two years, 
raising $339 million, according to Lipper. It also backs the 
$3.2 billion JPMorgan Alerian MLP ETN  AMJ.P . 
    Global X, founded in 2008, offers over 40 ETFs and is 
currently developing an ETF that will attempt to profit on 
consumption habits of people in their twenties. 
    The company also offers funds based on JPMorgan indexes, 
including the Global X JPMorgan Efficiente ETF  EFFE.P . 
 
 (Reporting by Sruthi Shankar in Bengaluru and Trevor Hunnicutt 
in New York; Editing by Saumyadeb Chakrabarty) 
 ((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223 
8780; outside U.S. +91 80 6749 6328; Reuters Messaging: 
sruthi.shankar.reuters.com@reuters.net)) 
 
Keywords: JPMORGAN GLOBALX/ETF

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