JPMorgan Chase & Co. expanded its Canadian asset management business with the launch of two new active ETFs on Tuesday.
JPMorgan US Equity Premium Income Active ETF (JEPI) and JPMorgan Nasdaq Equity Premium Income Active ETF (JEPQ) trade on the TSX and provide broad exposure to U.S. stocks in the S&P 500 and Nasdaq-100 indexes, respectively. They also employ covered-call strategies and have management fees of 0.35%.
The ETFs mark the firm’s first foray into offering products for retail investors in Canada, said Travis Hughes, head of Canada with J.P. Morgan Asset Management in Toronto.
The firm also has plans to offer alternative investments.
“Private equity, infrastructure, real estate, possibly private credit are all areas where we see opportunity for Canadian investors,” Hughes said.
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Also on Tuesday, Manulife Investment Management announced the launch of three new ETF series: Manulife Alternative Opportunities Fund – ETF Series (Cboe: OPPS), Manulife Strategic Income Plus Fund – ETF Series (Cboe: PLUS), and Manulife Strategic Income Fund – ETF Series (Cboe: STRT).
Management fees are 7.3%, 7.8% and 6.0%, respectively.
Spartan Fund Management Inc. and Capital Asset Lending Inc. have launched a new fund to give retail and institutional investors access to CAL’s actively managed portfolios of residential mortgages.
Capital Asset Income Fund provides exposure to the mortgages held by each of Mortgage Company of Canada Inc. and First Mortgage LP, a release said.
Dynamic Funds has introduced U.S.-dollar units for three of its active ETFs: the Dynamic Active U.S. Equity ETF (TSX: DXUS.U), Dynamic Active U.S. Dividend ETF (TSX: DXU.U) and Dynamic Active Global Dividend ETF (TSX: DXG.U). The funds all have management fees of 0.75%.