JPMorgan's fledgling exchange traded funds business in Europe has amassed $500m less than a year after launching — more than double the amount raised by rival Fidelity International for its new ETF venture. Both JPMorgan Asset Management and Fidelity announced their entry into Europe’s fiercely-competitive ETF industry during 2017, both relying on their respective brand recognition and experience in the US market to gain a foothold. ...
JP Morgan's European exchange-traded funds (ETF) unit has raised more than double the amount of its competitor Fidelity International, the past year after both US-based companies entered the European ETF market. JP Morgan has raised $500m across nine products, while Fidelity has raised $219m across its product range. Unlike Fidelity, JP Morgan has a dedicated ETF sales team, having made 20 appointments in a year. Peter Sleep, of Seven Investment Management, said this had given JP Morgan the edge over its rival.