JPMorgan to Convert Emerging Markets Bond ETF to Active Strategy

JPMorgan will overhaul its USD Emerging Markets Sovereign Bond ETF around Dec. 2, renaming it the JPMorgan Active USD Emerging Markets Bond ETF and converting it from passive to active management. The fund will invest at least 80% of assets in U.S. dollar-denominated emerging-market debt and switch its benchmark to the J.P. Morgan EMBI Global Diversified Index. Its management fee will fall slightly from 0.39% to 0.38%. Four portfolio managers will join, while Kush Purohit will depart, and the transition could generate higher turnover and capital-gains distributions.