JPMorgan Asset Management plans to convert a number of active mutual funds in the US to passive ETFs next year. The asset manager is not alone. Globally, passive is starting to catch up with active.
JPMorgan already christened four active mutual funds into passive this year. It allows the asset manager to cut costs, and charge lower fees. As an ETF, more information is available about what is in the funds, and an opportunity to save on taxes arises.
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