The latest in funds and investments across North America.

JP Morgan AM
JP Morgan Asset Management has launched the JPMorgan Ultra-Short Municipal ETF (JMST), an actively managed fixed-income exchange-traded fund that focuses on tax-exempt yield and invests in municipal securities with less interest rate sensitivity.

The strategy invests primarily in investment grade, ultra-short municipal bonds that are exempt from federal income tax. The fund employs a value-driven, bottom-up approach and seeks to maintain a target duration range of two years or less. 

The fund team is led by co-portfolio managers, Rick Taormina and James Ahn.