Bringing you live news and features since 2006 

JPMorgan announces intended MMF designations in response to SEC reforms


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

Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..
Confidence in the continuing strength of bitcoin and Ethereum is driving wider interest in altcoins and other digital assets, according..

Related Articles

Graham MacKenzie, Toronto Stock Exchange
The evolution of ETFs has been a multi-decade experience for Toronto Stock Exchange says Graham MacKenzie, managing director, Exchange Traded...
Frank Koudelka, State Street Global Services
ETF data provider and ETF Express data partner, Trackinsight, has published its Global ETF Survey 2024 Report: ‘50+ Charts on...
Matteo Greco, Research Analyst at Fineqia International writes that bitcoin (BTC) ended the week at approximately USD52,150, showing a notable...
US Distribution Awards trophies
The winners of the first US ETF Distribution Awards at the Exchange conference, hosted by ETF Express and sponsored by...
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