J.P. Morgan Asset Management Announces Liquidation of Two Exchange-Traded Funds

Rhea-AI Summary

J.P. Morgan Asset Management has announced the liquidation and dissolution of two exchange-traded funds: JPMorgan BetaBuilders U.S. TIPS 0-5 Year ETF (BBIP) and JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF (BBSA). The last day of trading for both funds on Cboe BZX Exchange is October 18, 2024, with liquidation set for October 25, 2024.

Shareholders can continue trading until the de-listing date. Those holding shares on the liquidation date will receive cash equal to the net asset value of their shares. This may result in capital gains or losses for taxable accounts. J.P. Morgan Asset Management, with $3.3 trillion in assets under management as of June 30, 2024, is a global leader in investment management.

Funds are expected to liquidate in Fall 2024

NEW YORK, Aug. 29, 2024 /PRNewswire/ -- J.P. Morgan Asset Management today announced the upcoming liquidation and dissolution of two exchange-traded funds: JPMorgan BetaBuilders U.S. TIPS 0-5 Year ETF (BBIP) and JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF (BBSA) (collectively, the "Funds").

Shareholders may buy and sell their shares prior to the de-listing date at market prices on the Cboe BZX Exchange, Inc. ("Cboe"). The last day of trading for both Funds on Cboe is October 18, 2024.

ETF Name	Ticker	Last Day of Trading	Liquidation Date
JPMorgan BetaBuilders U.S. TIPS 0-5 Year ETF	N/A	10/18/2024	10/25/2024
JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF	N/A	10/18/2024	10/25/2024

 

Proceeds from the liquidations will be distributed to shareholders at net asset value on or about October 25, 2024.

Shareholders who continue to hold shares of either of the Funds on the Funds' designated liquidation date will receive a liquidating distribution of cash in the cash portion of their brokerage accounts equal to the amount of the net asset value of their shares.

Shareholders who receive a liquidating distribution generally will recognize a capital gain or loss equal to the amount received for their shares over their adjusted basis in such shares if shares are held in a taxable account. Such shareholders should consult their tax advisor about the potential tax consequences.

About J.P. Morgan Asset Management

J.P. Morgan Asset Management, with assets under management of $3.3 trillion, as of June 30, 2024, is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. For more information: www.jpmorganassetmanagement.com. J.P. Morgan Asset Management is the marketing name for the asset management businesses of JPMorgan Chase & Co., and its affiliates worldwide.

JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America ("U.S."), with operations worldwide. JPMorgan Chase had $4.1 trillion in assets and $341 billion in stockholders' equity as of June 30, 2024. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world's most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

Important Information

This is a general communication being provided for informational purposes only. It is educational in nature and not designed to be a recommendation for any specific investment product, strategy, plan feature or other purpose. Any examples used are generic, hypothetical and for illustration purposes only. Prior to making any investment or financial decisions, an investor should seek individualized advice from personal financial, legal, tax and other professionals that take into account all of the particular facts and circumstances of an investor's own situation.

J.P. Morgan Distribution Services, Inc., member FINRA

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/jp-morgan-asset-management-announces-liquidation-of-two-exchange-traded-funds-302233703.html

SOURCE J.P. Morgan Asset Management

FAQ

When will JPM liquidate the two exchange-traded funds?

J.P. Morgan Asset Management will liquidate the two exchange-traded funds on October 25, 2024.

What is the last day to trade the affected JPM ETFs?

The last day to trade the affected J.P. Morgan ETFs on the Cboe BZX Exchange is October 18, 2024.

How will JPM shareholders be affected by the ETF liquidations?

Shareholders who hold shares on the liquidation date will receive cash equal to the net asset value of their shares in their brokerage accounts.

What are the names of the JPM ETFs being liquidated?

The ETFs being liquidated are JPMorgan BetaBuilders U.S. TIPS 0-5 Year ETF (BBIP) and JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF (BBSA).

What is JPM's assets under management as of June 30, 2024?

J.P. Morgan Asset Management's assets under management are $3.3 trillion as of June 30, 2024.