JPMorgan Chase sign on a building in New York. (Photo: AP)
J.P. Morgan Asset Management expanded its BetaBuilders line of exchange-traded funds with the JPMorgan BetaBuilders International Equity ETF (BBIN).
BBIN has a 0.07% net expense ratio and provides investors with liquid, low-cost access to developed international equities outside North America, according to the firm. Specifically the new fund provides cost-efficient market-cap weighted exposure to the Morningstar Developed Markets ex-North America Target Market Exposure Index.
The launch expands JPMorgan's BetaBuilders suite of ETFs to eight strategies, "offering efficient access to simple market cap-weighted building blocks priced for today's market," the company said.
The beta platform manages over $45 billion across market-cap weighted, strategic beta and alternative beta investment strategies, the company says.
Avantis Adds 5 Low-Cost Mutual Funds
The recently created Avantis Investors investment unit of American Century Investments introduced five low-cost mutual funds.
They feature the same strategies of the Avantis ETFs it rolled out in September, according to the company. The new funds are: Avantis International Small Cap Value Fund (AVDVX, with a 0.36% net expense ratio), Avantis International Equity Fund (AVDEX, 0.23%), Avantis Emerging Markets Equity Fund (AVEEX, 0.33%), Avantis U.S. Equity Fund (AVUSX, 0.15%) and Avantis U.S. Small Cap Value Fund (AVUVX, 0.25%).
The goal of Avantis is to "deliver low-cost, broadly diversified solutions in a variety of formats," including ETFs and mutual funds, according to Eduardo Repetto, Avantis chief investment officer. "All seek long-term capital appreciation," the firm said.
Junxure Launches Digital Account Open Integration With Schwab
AdvisorEngine's Junxure end-to-end digital client relationship management platform features the new digital account open workflow developed by Schwab Advisor Services, AdvisorEngine said.
Starting this month, wealth management firms using Junxure and Schwab Advisor Services as a custodian can open new accounts digitally in real-time, according to AdvisorEngine.
Junxure's integration with Schwab "eliminates" challenges that wealth management firms typically encounter when opening new accounts, including manual form-filling, coordinating with busy clients, resolving not-in-good-order data issues and ensuring CRM accuracy, AdvisorEngine said. Junxure enables advisors to "convert prospects into new clients seamlessly," it said.
