Expanding on its presence in the exchange traded fund industry, J.P. Morgan Asset Management has taken a minority stake in Global X Management Company, an ETF provider known for its targeted country and market segment offerings.

“Investing in Global X augments our ETF strategy by expanding and deepening our participation in this fast-growing industry,” Jed Laskowitz, Co-Head of Global Investment Management Solutions for J.P. Morgan Asset Management, said in the press release. “We will continue to develop the J.P. Morgan ETF lineup with an eye toward future innovation in active ETFs while building this strategic partnership.”

The investment does not make Global X an affiliate of J.P. Morgan, and there will be no co-marketing, investment management, distribution agreements or shared governance between the two fund providers.

However, Jillian DelSignore, Head of ETF Distribution at J.P. Morgan Asset Management and Brian Diessner, Head of Sales at Global X worked closely together at BlackRock iShares. It would be expected that the firms would partner on marketing and sales efforts especially since their ETFs suites do not directly compete with one another. Both DelSignore and Diessner are seasoned veterans and well respected in the ETF community.

“Widely acknowledged for its innovative products, Global X has become a leading provider of ETF solutions, and we are pleased to have them as a strategic partner,” Robert Deutsch, Global Head of ETF Solutions for J.P. Morgan Asset Management, said. “This investment complements the growth of J.P. Morgan’s own ETF line-up, with seven strategic beta ETFs launched and many more to come.”

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