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JPMorgan to Kick Off $9 Billion of Mutual Fund-to-ETF Switches

  • Bank’s asset arm expected to switch 4 mutual funds by mid-June
  • Conversions are growing in popularity as billions flow to ETFs

JPMorgan Asset Management will convert a $1.1 billion fixed-income mutual fund into an ETF on Friday, joining a growing Wall Street trend that’s expected to see as much as $1 trillion make the switch.

The JPMorgan Inflation Managed Bond Fund (ticker JIMAX) is becoming the JPMorgan Inflation Managed Bond ETF (JCPI) after the close, according to a notice on the fund’s website. It’s the first of four planned conversions by the firm that will shift around $9 billion of assets into exchange-traded funds by mid-June.