Bringing you live news and features since 2006 

JPMorgan announces intended MMF designations in response to SEC reforms

RELATED TOPICS​

The Board of Trustees of the JPMorgan Money Market Funds has approved the firm's preliminary recommendation regarding the intended designation of its publicly offered money market funds as "Institutional," "Retail" or "Government," in accordance with the criteria established by the Securities and Exchange Commission ("SEC") in July 2014. 

These determinations were reflected in a supplement to the money market funds' registration statements filed last week.

In the supplement, the Board also stated that it has no current intention of instituting liquidity fees or gates on the money market funds (MMFs) designated as Government MMFs.

John Donohue, Head of Global Liquidity for JP Morgan Asset Management, says: "The new rules include several significant structural changes. We are committed to providing shareholders with as much clarity and information as we can. We recognise that shareholders – retail intermediaries, in particular – need as much time as possible to adjust to these changes. As an industry leader, we look forward to continuing to meet investors' liquidity management needs in new and innovative ways.
"We also want to reiterate that our MMFs' board has no current intention of utilising fees and gates in our Government MMFs. Additionally, investors should know that our board does not currently plan to institute a floating net asset value (NAV) in our Prime MMF, and fees and gates in our non-Government MMFs any sooner than the second half of 2016."

Latest News

21Shares AG has announced that the firm has added staking to the 21Shares Cosmos ETP (ATOM) and the 21Shares Avalanche..
EFAMA has published its latest Monthly Statistical Release for May 2024...
Solactive writes that it has expanded its collaboration with Kiwoom Asset Management by providing the underlying indices to the KIWOOM..
MSCI has announced the launch of MSCI Private Capital Indexes, writing that with growing investor interest in private markets, high..

Related Articles

Scott Kefer, VictoryEx Capital Holdings
Bailey McCann writes that active ETFs are capturing investor interest, according to the latest data from Morningstar, which finds that...
Chris Lo, Columbia Threadneedle
In a recent insight on India by Columbia Threadneedle Investments, the firm reports that the country’s economic reforms, which aim...
With an election on the horizon in the United States a group of ETFs is poised to capture investments on...
Robot worker
Qraft Technologies, based in South Korea, specialises in the use of AI in security selection and portfolio construction....
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by