CalPERS Is the $2 Billion Whale Behind JPMorgan’s Junk-Bond ETF
The benefits for the asset manager are clear
A band-aid on a whale sculpture.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
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In late June, JPMorgan Asset Management launched the JPMorgan Active High Yield ETF, its first actively managed junk-bond ETF. JPHY came into the world with a $2 billion commitment from an external anchor investor, making it the largest active ETF launch on record.