JP Morgan Asset Management (JPMAM) has teamed up with robo-advisor Nutmeg to launch a range of ETFs.
The fund range, called Smart Alpha, will include both passive and active ETFs and will be available only to Nutmeg customers.
The UK-based robo-advisor announced the collaboration as a combination of its “fractional investment expertise” and JPMAM’s “in-house, multi-asset knowledge”.
It also forms another alliance between the traditional and digital arms of the asset management industry in the search for mutual benefit.
Many of the more prominent robo-advisors in the market are now backed by large asset managers – BlackRock and Scalable Capital, LV and Wealthify for example. Nutmeg is itself backed by Schroders.
The company is yet to make a profit, having posted a £21.2 million (€23.7 million) loss in December 2019. However, customer numbers increased by 30% year on year during the first half of 2020 while assets under management reached £2.3 billion as more investors looked to digital services in the midst of the Covid-19 pandemic.
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