Alternative Investments/Real Estate: JPMorgan Converts A Realty Income Fund To ETF

The asset manager converted its JPMorgan Realty Income Fund into the JPMorgan Realty Income ETF (NYSEARCA: JPRE)

The JPMorgan Realty Income Fund, an open-ended mutual fund which was in operation since January 1, 1998, has converted to the JPMorgan Realty Income ETF with effect from the close of business of May 20, 2022. The ETF seeks to provide high total investment return through a combination of capital appreciation and current income. (VettaFi/ETF Trends)

JPMorgan Realty Income ETF (NYSEARCA: JPRE)

The ETF Invests primarily in stocks of real estate investment trusts (REITs) by continuously screening the REIT universe and selecting companies that show superior financial strength, operating revenues and attractive growth potential.

Furthermore, the ETF uses an in-depth analysis of each REIT to evaluate whether each company’s current price fully reflects its long-term value.

“We [also] believe the combination of the mutual fund and ETF boards will allow shareholders to benefit from the boards’ substantial combined experience and better position us to deliver the highest value-add capabilities in a rapidly evolving industry,” said JPMAM CEO George Gatch.

The new ETF has a net expense ratio of 0.5%.

Conversion of mutual funds into ETFs

As of May 23, 2022, the fund assets amounted $1.11 billion.

Last month, JPMAM converted its JPMorgan Inflation Managed Bond Fund (JIMAX) into the JPMorgan Inflation Managed Bond ETF (JCPI).

The fund manager converted its JPMorgan Market Expansion Enhanced Index Fund (OMEAX) into the JPMorgan Market Expansion Enhanced Equity ETF (JMEE) earlier this month.

Related Story: JP Morgan Launches Carbon Transition Focused Equity ETF

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