J.P. Morgan Asset Management converted two mutual funds into actively managed municipal bond ETFs focused on California and New York, launching with about $502 million and $456 million in assets respectively. These ETFs offer tax-free income benefits especially valuable for high-income investors in those states, with flexible duration management and up to 20% allocation in below-investment-grade bonds to enhance yield. This move provides a rare actively managed option in a market dominated by passive funds, aiming to deliver better after-tax returns and greater transparency. The funds carry a 0.34% expense ratio and reflect growing investor demand for flexible, tax-efficient municipal bond investments.
JPMorgan Chase CEO Jamie Dimon announced a $24 million initiative to revive American shipbuilding, including $18 million in loans and investments and $6 million in grants. The funds will support a new submarine manufacturing facility at the Philadelp...
The FTSE 100 dropped 23 points to 10,506, pressured by mining stocks reacting to China's slower-than-expected 4.3% GDP growth in Q2, its weakest in three years. European markets also declined, while US futures rose, led by tech. PayPal shares surged ...
Morgan Stanley will report its second-quarter earnings before the market opens on Wednesday, with analysts expecting earnings per share of $2.94 and revenue of $19.64 billion. The firm is anticipated to benefit from increased trading and investment b...
Jim Cramer stated that today's stock market is far from the dot-com bubble era, highlighting lower valuations, cooler inflation, and strong corporate earnings as key differences. Despite some speculative stocks like SpaceX, these are outliers and do ...
Goldman Sachs and JPMorgan Chase reported record quarterly revenues, boosted by increased equities trading and investment banking linked to the global AI boom. AI is driving demand for financing across sectors, including data centers and infrastructu...
