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.
