JPMorgan selected for managing Nordea's Exchange-Traded Fund series
In a significant development for the European investment landscape, Nordea Asset Management has partnered with JPMorgan Securities Services to broaden the reach and accessibility of its ETFs.
The strategic partnership, announced recently, will see JPMorgan Securities Services provide a range of services to Nordea Asset Management, including fund accounting, custody, transfer agency, order taking, ETF servicing, and basket services. This expanded relationship between the two firms is expected to further strengthen their collaboration.
Nordea Asset Management's ETFs, which are part of their family of active enhanced strategies, were previously only available through traditional UCITS mutual funds and institutional mandates. However, with the launch of these ETFs, they are now accessible to a wider audience.
Ciaran Fitzpatrick, Global Head of ETF Product Management at JPMorgan, expressed his pleasure about the partnership, stating that it represents a positive outlook on the growth potential of the active ETF segment in Europe. He further added that the ETFs' expansion beyond traditional investment vehicles is a significant development in the European investment landscape.
The ETFs launched by Nordea Asset Management are seeing tremendous growth in Europe, particularly in the active ETF segment of the market. This growth is attributed to the increasing demand for flexible, cost-effective, and efficient investment solutions.
Notably, Nordea Asset Management had initially appointed BNP Paribas as the bank to service its newly launched BetaPlus ETFs, which were made available in August 2023. However, the strategic partnership with JPMorgan Securities Services has since taken over these services.
The partnership between JPMorgan Securities Services and Nordea Asset Management is significant in expanding the reach and accessibility of the ETFs. It is expected to contribute to the continued growth and success of both firms in the European investment market.
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