Core Insights - J.P. Morgan Asset Management plans to convert select U.S. mutual funds to ETFs in 2026, with combined assets of approximately $4.6 billion as of October 31, 2025 [1][2][3] Group 1: Conversion Details - The proposed conversions are subject to Fund Board approval in February 2026 and are expected to enhance trading flexibility, portfolio transparency, and tax efficiency for investors [2][4] - The specific mutual funds proposed for conversion include: - JPMorgan New York Tax Free Bond Fund with $415 million AUM, conversion date June 12, 2026 - JPMorgan California Tax Free Bond Fund with $427 million AUM, conversion date June 12, 2026 - JPMorgan Preferred and Income Securities Fund with $1,727 million AUM, conversion date July 10, 2026 - JPMorgan U.S. GARP Equity Fund with $2,049 million AUM, conversion date July 10, 2026 [3] Group 2: Strategic Rationale - The conversion to ETFs is seen as a natural progression to meet evolving investor preferences, providing greater flexibility, transparency, and tax efficiency while maintaining access to active management expertise [4] - J.P. Morgan Asset Management ranks second globally in active ETF assets under management, with $231.5 billion as of September 30, 2025 [4] Group 3: Company Overview - J.P. Morgan Asset Management has $4 trillion in assets under management as of September 30, 2025, serving a diverse client base including institutions, retail investors, and high net worth individuals [5] - The firm is a leader in various financial services, including investment banking, commercial banking, and asset management, with a strong global presence [6]

Combined assets of the funds are nearly $5 billion NEW YORK, Dec. 9, 2025 /PRNewswire/ -- J.P. Morgan Asset Management today announced plans to convert select U.S. mutual funds to ETFs in 2026. The proposed conversions, which are subject to Fund Board approval in February, are expected to provide benefits for investors in 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 ma ...