J.P. Morgan Asset Management Seeks to Convert $1.3 Billion JPMorgan Unconstrained Debt Fund to JPMorgan Flexible Debt ETF (JFLX)

NEW YORK, Feb. 18, 2025 /PRNewswire/ -- J.P. Morgan Asset Management has announced plans to convert the JPMorgan Unconstrained Debt Fund, pending board approval in May 2025.  The converted ETF would be renamed JPMorgan Flexible Debt ETF.  The ETF will be managed in a substantially similar manner to the mutual fund after conversion, which is anticipated to take place during the third quarter of 2025, pending board approval.

"Given continued market volatility and uncertainty, clients are increasingly interested in accessing the flexible approach of this strategy, which allows it to shift portfolio allocation in changing market conditions," said Bob Michele, Portfolio Manager for the fund and Head of Global Fixed Income, Currency and Commodities for J.P. Morgan Asset Management.  "Evolving client interest leans toward providing this strategy through an ETF vehicle, and we believe it lends itself well to an active transparent structure."

The proposed conversion, which is subject to fund board approval, is expected to provide benefits for investors of 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.

The firm expects minimal client disruption, as the majority of existing clients can hold ETFs. Shareholders should read the information statements/prospectuses when available.

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 conversion and to allow them time to engage with J.P. Morgan on the implications of this important effort. It is anticipated that if the conversion is approved by the board of the funds, it would not require shareholder approval prior to implementation.

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 $230 billion in ETF assets under management, J.P. Morgan Asset Management ranks second in active ETF AUM globally (source:  Bloomberg as of 2/6/2025).

About J.P. Morgan Asset Management

J.P. Morgan Asset Management, with assets under management of $3.6 trillion (as of 12/31/2024), 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.

JPMorgan Chase & Co. (NYSE:JPM) is a leading financial services firm based in the United States of America ("U.S."), with operations worldwide. JPMorganChase had $4.2 trillion in assets and $346 billion in stockholders' equity (as of 12/31/2024). 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.

J.P. Morgan mutual funds and 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.

Investors should carefully consider the investment objectives and risks as well as charges and expenses of the funds before investing. The summary and full prospectuses contain this and other information about the funds and should be read carefully before investing. To obtain a prospectus call 1-800-480-4111.

If the proposed conversions discussed herein are approved by the board, an information statement/prospectus that will be included in a registration statement on Form N-14 will be filed with the SEC. After the registration statement is filed with the SEC, it may be amended or withdrawn and the information statement/prospectus will not be distributed to shareholders unless and until the registration statement is declared effective by the SEC. Investors are urged to read the materials and any other relevant documents when they become available because they will contain important information about the conversions. After they are filed, free copies of the materials will be available on the SEC's website at www.sec.gov. These materials also will be available at www.jpmorganfunds.com and a paper copy can be obtained at no charge by calling 1-800-480-4111.

This communication is for informational purposes only and does not constitute an offer of any securities for sale. No offer of securities will be made except pursuant to a prospectus meeting the requirements of Section 10 of the Securities Act of 1933.

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-seeks-to-convert-1-3-billion-jpmorgan-unconstrained-debt-fund-to-jpmorgan-flexible-debt-etf-jflx-302378990.html

SOURCE J.P. Morgan Asset Management