J.P. Morgan Asset Management plans to launch an actively managed tech ETF
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J.P. Morgan Asset Management announced that it intends to debut a new tech-focused exchange traded fund. The JPMorgan U.S. Tech Leaders ETF (JTEK) will be an actively managed ETF that aims to offer exposure to equity securities issued by technology and technology-enabled companies.
According to a recent U.S. Securities and Exchange Commission prospectus, the firm listed some industries that could form the basis of the fund, including the internet, semiconductors, software, computers, energy-alternate resources and auto manufacturing.
JTEK will invest in stocks that offer a disruptive business model, a unique sustainable competitive advantage, a large addressable market and a proven management team, the firm said in an SEC filing. The fund is slated to trade on the Nasdaq Stock Exchange and come attached with an expense ratio of 0.65%.
While no holdings were outlined in JTEK, investors can speculate that names such as Microsoft (MSFT), Apple (AAPL), and Alphabet (GOOG) (GOOGL) may potentially be included in the fund.
In related news, J.P. Morgan Asset Management also unveiled the JPMorgan Active Small Cap Value ETF (JPSV), an exchange traded fund focused on small caps.