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J.P. Morgan Asset Management (NYSE:JPM) launched the JPMorgan U.S. Large Cap Value Plus ETF (JLVP), its first actively managed extension strategy ETF, listed on the Nasdaq. The fund seeks long-term capital appreciation by combining a U.S. large-cap value portfolio with a long/short extension sleeve.
JLVP is managed by Scott Blasdell and Jim Brown and applies a value-oriented approach that takes long positions in stocks viewed as undervalued and short positions expected to underperform. According to J.P. Morgan Asset Management, it oversees $25 billion in global equity extension strategies and will temporarily reduce JLVP’s management fee to 49 bps through February 29, 2028, after which a 65 bps fee is expected. Net expenses, including estimated short dividend expense, are shown as 105 bps after the fee waiver.