NEW YORK, Sept. 2, 2020 /PRNewswire/ -- J.P. Morgan Asset Management today announced fee reductions across the industry-leading JPMorgan SmartRetirement Blend Series and retirement income offering, SmartSpendingSM. The SmartRetirement Blend Series combines active and passive strategies in an all-in-one diversified investment.
The SmartRetirement Blend series is one of only two target date fund series with a Gold Morningstar© Analyst Rating1. The Morningstar report states, "A consistently thoughtful approach to asset allocation and manager selection sets the series apart among target-date managers," and "The series has proved it can outperform in both up and down markets."
"We are committed to passing on lower fees to clients as we continue to achieve scale across the SmartRetirement Blend Fund Series, which already have lower expense ratios than 88 percent of peers2. These fee reductions mean clients now have the opportunity to outperform passive indices through exposure to active management, at the price point of a passive-only strategy," said Jed Laskowitz, Global Head of Asset Management Solutions at J.P. Morgan Asset Management. "We are also pleased to reduce fees across our innovative SmartSpendingSM strategy, designed to help investors manage income in retirement and provide spending flexibility as needs change."
"In addition to the Blend and SmartSpendingSM strategies, our SmartRetirement actively managed mutual funds are one of only seven target date fund families that hold a Morningstar Analyst Silver Rating3 and we continue to firmly believe in the value of active management. The strong performance of our Active series is a testament to J.P. Morgan's active equity and fixed income managers' ability to deliver alpha over the long term."
The investment advisory fees for the following funds were reduced, effective November 1, 2020:
Mutual funds series (vintages – class)
Net Expense Ratio
JPMorgan SmartRetirement Blend Mutual Funds
(Income, 2020-2060 – R6 share class)
JPMorgan SmartSpending Mutual Funds
(2015, 2020 – R6 share class)
JPMorgan SmartRetirement portfolios leverage J.P. Morgan Asset Management's industry leading insights including the Guide to Retirement and Long-Term Capital Market Assumptions, and are the result of over 250,000 simulations to ensure the glide path is positioned to endure a range of market cycles and participant behavior.
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of USD 2.2 trillion (as of 30 June 2020), 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.
1 Morningstar, US Fund Target Date categories. Analyst rating as of 3/31/20; applies to SmartRetirement Blend mutual funds only.
2 Morningstar; as of 6/30/20. Based on prospectus net expense ratio rankings for the R6 share class of each vintage in JPMorgan SmartRetirement Blend Funds series versus their relevant Morningstar target date category Morningstar's source for prospectus net expense ratio is each fund's most recent prospectus. Different share classes may have different rankings.
3 Morningstar Direct as of 3/31/2020. For share class with highest rating.
4 Effective 11/1/20. For fees of other classes, please refer to the fund documents at www.jpmorganfunds.com.
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SOURCE J.P. Morgan Asset Management