J.P. Morgan Worldwide Securities Services has been appointed by FocusShares to service its 15 new Focus Morningstar ETFs.
The low-cost ETFs began trading March 30 on NYSE Arca and are the first investment products sponsored by FocusShares since being acquired in June 2010 by Scottrade Financial Services.
The Focus Morningstar ETFs include a US Market ETF (FMU); Small Cap (FOS), Mid Cap (FMM) and Large Cap (FLG) ETFs; and 11 sector ETFs, including Basic Materials (FBM), Communication Services (FCQ), Consumer Cyclical (FCL), Consumer Defensive (FCD), Energy (FEG), Financial Services (FFL), Health Care (FHC), Industrials (FIL), Real Estate (FRL), Technology (FTQ) and Utilities (FUI).
J.P. Morgan offers a full suite of services for the development, launch and servicing of ETFs. Industry-wide, J.P. Morgan currently services 138 ETFs with total assets of over $97 billion.
“J.P. Morgan has a history of innovation in the ETF space, with a commitment to the fund service business and pioneering technology,” said Robert Caporale, managing director, J.P. Morgan Worldwide Securities Services. “We look forward to working with Scottrade and FocusShares on these newly launched ETFs.”
“By selecting J.P. Morgan to service these ETFs, FocusShares has chosen a servicer with robust capabilities and leading technology, a well-suited alliance for FocusTM Morningstar ETFs,” said FocusShares president Erik Liik.
