J.P. Morgan Chase & Co. is joining a long line of asset managers backing a new type of exchange-traded fund that mimics active strategies but keeps its investments secret. The concept, designed by Precidian Investments, has so far been rejected by the U.S. Securities and Exchange Commission despite support from industry giants including BlackRock Inc., American Funds owner Capital Group Cos., and Legg Mason Inc., which owns a minority stake in Precidian. J.P. Morgan is expected to announce on Monday that it plans to license...
JP Morgan has joined other major asset managers in backing a new type of exchange-traded fund that follows active strategies but keeps the details of its investments confidential. The fund, called iShares MSCI Emerging Markets ETF, will be launched on Monday and is expected to raise about $450 million from institutional investors who have already invested more than $100 billion into emerging