J.P. Morgan Asset Management Proposes Conversion of Mutual Funds to ETFs
Rhea-AI Summary
Mr Black Espresso Martini Fest returns for its fourth year, running September 29–October 5, 2025, featuring Espresso Martini celebrations at bars across the United States, Europe and China.
The festival spotlights the Espresso Martini—now the #2 cocktail in the U.S. per CGA by NIQ June 2025—and centers on Mr Black Cold Brew Coffee Liqueur, made with specialty Arabica beans and sold nationwide at a suggested retail price of $29.99 (750ml).
Events include neighborhood bar takeovers, city kickoff events, and curated bartender riffs; consumers 21+ are directed to the festival hub and @mrblackspirits on Instagram for participating venues and details.
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News Market Reaction
On the day this news was published, DEO declined 2.89%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
JPM showed a small move of 0.05% while peers were mixed: WFC up 0.26%, RY up 0.29%, HSBC up 0.1%, BAC flat, and C down 0.26%, suggesting stock-specific trading rather than a unified sector move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 02 | Airport lounge launch | Positive | -0.3% | New Chase Sapphire airport lounge opening at Las Vegas Harry Reid airport. |
| Nov 24 | ETN coupon declaration | Positive | +1.7% | Quarterly coupon declared for Alerian MLP Index ETN with detailed terms. |
| Nov 24 | Client content launch | Neutral | -0.0% | Release of NextList2026 curated books and experiences guide for clients. |
| Nov 19 | Fundraising milestone | Positive | +1.3% | Private Equity Group closed COIN II at $1.0B, above $750M target. |
| Nov 17 | Fraud prevention push | Positive | -1.1% | Largest firm-wide fraud and scam prevention initiative announced across U.S. branches. |
Recent JPM news has mostly been positive business and brand initiatives, with share price reactions generally modest and sometimes moving opposite to the favorable tone.
Over the last month, JPM announced lifestyle and client-focused initiatives, capital markets activity, and risk-prevention efforts. On Nov 19, 2025, its private equity group closed PEG Co-Investment Fund II at $1.0 billion, above the $750 million target, and shares rose 1.29%. A large fraud and scam prevention initiative in mid‑November 2025 coincided with a -1.07% move. More consumer-facing efforts, like lounges and curated content (NextList2026), have seen only minor price changes, indicating limited direct trading impact from such announcements.
Market Pulse Summary
This announcement centers on consumer and brand engagement in cocktail culture rather than JPM’s core banking or asset‑management fundamentals. Recent JPM news has focused on client experiences, product launches, and operational initiatives, which have typically produced modest share‑price moves. Investors evaluating such news alongside JPM’s position near its 52‑week high and above its 200‑day MA may watch for more directly financial or regulatory catalysts when assessing the stock’s longer‑term trajectory.
AI-generated analysis. Not financial advice.
Combined assets of the funds are nearly
The proposed conversions, which are subject to Fund Board approval in February, are expected to provide benefits for investors in the mutual funds. The additional trading flexibility, increased portfolio holdings transparency and potential for enhanced tax efficiency that come with ETFs carry significant value to many investors, and J.P. Morgan believes that these particular strategies are well suited for the ETF structure. The combined assets of the funds proposed for conversion are approximately
Mutual Fund | AUM* | Proposed |
JPMorgan New York Tax Free Bond Fund | 6/12/2026 | |
JPMorgan California Tax Free Bond Fund | 6/12/2026 | |
JPMorgan Preferred and Income Securities Fund | 7/10/2026 | |
JPMorgan | 7/10/2026 | |
*AUM as of 10/31/2025 | ||
J.P. Morgan Asset Management is announcing the proposed conversion plans well in advance to provide shareholders and distributors with ample notice of the planned conversions and to allow them time to engage with J.P. Morgan on the implications of this important effort. It is anticipated that if the conversions are approved by the Board of the Funds, they would not require shareholder approval prior to implementation.
"As investor preferences continue to evolve, we are committed to meeting their needs by offering our strategies in the most efficient and accessible vehicles," said Travis Spence, Global Head of ETFs at J.P. Morgan Asset Management. "Converting these mutual funds to ETFs is a natural next step, providing clients with greater flexibility, transparency and tax efficiency, while maintaining access to our active management expertise."
As a leading active manager, J.P. Morgan Asset Management is committed to providing access to its investment capabilities through a range of vehicles including ETFs, mutual funds, commingled funds, SMAs and liquid alternatives. With
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in
J.P. Morgan ETFs are distributed by JPMorgan Distribution Services, Inc., which is an affiliate of JPMorgan Chase & Co. Affiliates of JPMorgan Chase & Co. receive fees for providing various services to the funds. JPMorgan Distribution Services, Inc. is a member of FINRA. More information is available at https://am.jpmorgan.com/us/en/asset-management/gim/adv/products/etfs.
There is no guarantee, obligation or assurance that any investors will maintain any specific level of investment in the Fund, and such investors have the ability to withdraw their investment at any point in time like any other shareholder of a mutual fund or ETF.
Investors should carefully consider the investment objectives and risks as well as charges and expenses of an ETF before investing. The summary and full prospectuses contain this and other information about the ETF and should be read carefully before investing. To obtain a prospectus: Call 1-844-4JPM-ETF.
NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE
SOURCE J.P. Morgan Asset Management
Related Links: http://www.jpmorganchase.com
1 Data according to Bloomberg as of 12/8/2025
FAQ
When is Mr Black Espresso Martini Fest 2025 and which cities participate?
Why is the Espresso Martini central to Mr Black Espresso Martini Fest 2025?
What product does Mr Black emphasize during the festival and how much does it cost?
How can consumers find participating venues and event details for Mr Black Espresso Martini Fest 2025?
What types of events will occur during Mr Black Espresso Martini Fest 2025?
Are there any responsible drinking reminders associated with Mr Black Espresso Martini Fest 2025?
