J.P. Morgan Asset Management (JPMAM) today announced the launch of JPMorgan Active Growth ETF (JGRO), an actively managed style pure growth ETF that seeks to outperform the Russell 1000 Growth Index. The strategy follows a bottom-up approach and aims to identify companies with growth potential that is underappreciated by the market.
Priced at an expense ratio of 0.44%, JGRO leverages the breadth and depth of the entire J.P. Morgan Growth Platform and leverages two flagship strategies on the platform, JPMorgan Large Cap Growth, a style pure approach which utilizes price momentum, and JPMorgan Growth Advantage, which is anchored in large cap but has flexibility to invest down cap. Blending these two fundamental approaches with unique characteristics results in one ETF solution that seeks opportunities across the growth landscape.
“As investors look to navigate today’s unique market environment, JGRO provides access to opportunities across J.P. Morgan’s Growth Platform, combined with the benefits of the active ETF structure,” said Bryon Lake, Global Head of ETF Solutions, J.P. Morgan Asset Management. “We are excited to add JGRO to our range of active capabilities, uniting two of the industry’s most experienced growth management teams to deliver a solution aimed at providing long-term capital appreciation while delivering risk-adjusted returns.”
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The fund is managed by Giri Devulapally, Timothy Parton and Felise Agranoff, all of whom are Managing Directors and Portfolio Managers that bring decades of investment experience and have successfully managed through various market cycles. They are supported by a well-resourced team of dedicated growth research analysts which average 16 years of experience. The entire growth team collectively oversees more than $93b in assets.
JGRO compliments the firm’s existing style pure offerings, including JPMorgan Active Value ETF (JAVA), an active equity ETF managed by Clare Hart, Scott Blasdell, David Silberman and Andrew Brandon.
The addition of JGRO brings J.P. Morgan Asset Management’s full U.S. suite of ETFs to 45 products with more than $81 billion in assets under management. J.P. Morgan Asset Management ranks as a top ten ETF issuer in the U.S. with respect to AUM 1 and number one in net active flows across active ETFs in the U.S. for 20212. JPMorgan’s Active ETFs were also recently named “ETF Suite of the Year” by With Intelligence3 as part of their annual Mutual Fund Industry and ETF Awards.
Portfolio Manager Biographies:
Giri Devulapally, managing director, is a portfolio manager within the U.S. Equity Group. An employee since 2003, Giri is the lead portfolio manager for the J.P. Morgan Large Cap Growth Strategy. Prior to joining the firm, Giri worked for T. Rowe Price for six years, where he was an analyst specializing in technology and telecommunications. Giri received a B.S. in Electrical Engineering from the University of Illinois and an M.B.A. with a concentration in Finance from the University of Chicago. He is a member of the CFA Institute and a CFA charterholder.
Timothy Parton, managing director, is a portfolio manager within the U.S. Equity Group. An employee since 1986, Tim has managed a variety of Small and Mid-Cap portfolios over his tenure. Tim has been managing the J.P. Morgan Mid Cap Growth Strategy since November 2001 and the J.P. Morgan Growth Advantage Strategy since its inception in September 2005. In addition, Tim is a manager on the J.P. Morgan Equity Focus and Mid Cap Equity Strategies. Tim holds a B.Sc. in Economics and Accounting from the University of Bristol in England. He is a member of both the New York Society of Security Analysts and The CFA Institute, and a is CFA charterholder.
Felise Agranoff, managing director, is a portfolio manager within the U.S. Equity Group. An employee since 2004, Felise is a portfolio manager for the J.P. Morgan Growth Advantage, Mid Cap Growth and Mid Cap Equity Strategies. As a research analyst for the growth team Felise covered industrials, financials and business services. Felise obtained a B.S. in Finance and Accounting from the McIntire School of Commerce at the University of Virginia. She is a member of the CFA Institute and is a CFA charterholder. Felise is an industry-recognized portfolio manager, having been named to Citywire’s “Top Female Portfolio Managers in the U.S” in 20214, and is a member of Citywire’s Amplify “Equities Elite”, a list of 421 top fund managers in the asset management industry 5.
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