Funds are expected to liquidate Winter
2023
NEW
YORK, Nov. 16, 2023 /PRNewswire/ -- J.P. Morgan
Asset Management today announced the upcoming liquidation and
dissolution of two exchange-traded funds: JPMorgan Sustainable
Consumption ETF (CIRC) and JPMorgan Social Advancement ETF
(UPWD) (collectively, the "ETFs").
Shareholders may buy and sell their shares up to and including
the last day of trading prior to the de-listing date at market
prices on The Nasdaq Stock Market® LLC. The last day of trading for
CIRC and UPWD on Nasdaq is Friday, December
15, 2023.
|
ETF
Name
|
Ticker
|
De-listing
Date
|
Liquidation
Date
|
|
JPMorgan Sustainable
Consumption ETF
|
CIRC
|
12/18/2023
|
On or around
12/26/2023
|
|
JPMorgan Social
Advancement ETF
|
UPWD
|
12/18/2023
|
On or around
12/26/2023
|
Proceeds from the liquidations will be distributed to
shareholders at net asset value as of the liquidation date.
Shareholders who continue to hold shares of either of the ETFs
on the ETFs' liquidation date will receive a liquidating
distribution of cash in the cash portion of their brokerage
accounts equal to the amount of the net asset value of their
shares.
Shareholders who receive a liquidating distribution generally
will recognize a capital gain or loss equal to the amount received
for their shares over their adjusted basis in such shares if shares
are held in a taxable account, and such shareholders should consult
their tax advisor about the potential tax consequences.
About J.P. Morgan Asset Management
J.P. Morgan Asset
Management, with assets under management of $3.19
trillion (as of 9/30/2023), is a global leader in investment
management. J.P. Morgan Asset Management's clients include
institutions, retail investors and high net worth individuals in
every major market throughout the world. J.P. Morgan Asset
Management offers global investment management in equities, fixed
income, real estate, hedge funds, private equity and liquidity. For
more information: www.jpmorganassetmanagement.com. J.P. Morgan
Asset Management is the marketing name for the asset management
businesses of JPMorgan Chase & Co., and its affiliates
worldwide.
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial
services firm based in the United
States of America ("U.S."), with operations worldwide.
JPMorgan Chase had $3.9 trillion in assets and $313
billion in stockholders' equity as of June 30, 2023. The
Firm is a leader in investment banking, financial services for
consumers and small businesses, commercial banking, financial
transaction processing and asset management. Under the J.P. Morgan
and Chase brands, the Firm serves millions of customers in the
U.S., and many of the world's most prominent corporate,
institutional and government clients globally. Information about
JPMorgan Chase & Co. is available
at www.jpmorganchase.com.
J.P. Morgan Distribution Services, Inc., member FINRA
NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE
View original content to download
multimedia:https://www.prnewswire.com/news-releases/jp-morgan-asset-management-announces-liquidation-of-two-exchange-traded-funds-301991342.html
SOURCE J.P. Morgan Asset Management