JPMorgan Chase & Co. has expanded its Canadian asset management business by launching two new active ETFs on the Toronto Stock Exchange. The JPMorgan US Equity Premium Income Active ETF (JEPI) and the JPMorgan Nasdaq Equity Premium Income Active ETF (JEPQ) provide broad exposure to U.S. stocks in the S&P 500 and Nasdaq-100 indexes, respectively, and employ covered-call strategies. Both ETFs have a management fee of 0.35%.
In addition to the new ETFs, JPMorgan has plans to offer alternative investment products in Canada, including private equity, infrastructure, real estate, and possibly private credit. According to Travis Hughes, the head of Canada with J.P. Morgan Asset Management in Toronto, the firm sees these areas as opportunities for Canadian investors.
Elsewhere in the Canadian ETF market, Manulife Investment Management has launched three new ETF series: the Manulife Alternative Opportunities Fund – ETF Series (Cboe: OPPS), the Manulife Strategic Income Plus Fund – ETF Series (Cboe: PLUS), and the Manulife Strategic Income Fund – ETF Series (Cboe: STRT). The management fees for these funds range from 0.60% to 0.78%. Additionally, Spartan Fund Management Inc. and Capital Asset Lending Inc. have launched a new fund, the Capital Asset Income Fund, which provides exposure to the mortgages held by Mortgage Company of Canada Inc. and First Mortgage LP. Dynamic Funds has also introduced U.S.-dollar units for three of its active ETFs, with management fees of 0.75%.
