J.P. Morgan Asset Management launches EUR Government CNAV Fund

Published: May 13, 2024

J.P. Morgan Asset Management announces the launch of JPMorgan Liquidity Funds – EUR Government CNAV Fund, a short-term public debt constant net asset value (CNAV) money market fund designed for investors seeking government exposure.

The fund will invest in short-term EUR denominated government or government-backed debt securities, including government bonds, treasury bills, and other money market instruments, as well as reverse repurchase agreements (RRP). These RRP’s will be fully collateralised by EUR denominated Government Debt Securities, with all investments denominated in Euros.

“With interest rates in Europe now firmly in positive territory after a decade of negative levels, we’ve observed growing demand from investors for a money market fund with exposure to short-term government rather than bank-issued short-term debt, said Jim Fuell, Head of Global Liquidity Sales, International at J.P. Morgan Asset Management.

Fuell continued: “Our EUR Government CNAV Fund is likely to appeal to investors seeking an alternative to cash deposits for their medium-term or temporary cash investments, including seasonal operating cash or the liquidity components of investment portfolios.”

The new fund, managed by Joe McConnell and Ian Crossman, will be part of JPMAM’s Global Liquidity business, complementing two existing EUR denominated money market funds: the JPMorgan Liquidity Funds – EUR Liquidity LVNAV Fund and the JPMorgan Liquidity Funds – EUR Standard Money Market VNAV Fund, and will offer share classes for both retail and institutional investors.