J.P. Morgan Asset Management lists two new active global equity strategies in London

From 23 June 2026, four dollar-denominated share classes will be tradable on the London Stock Exchange: the accumulation and distribution versions of the JPM Global Equity Active UCITS ETF (JGLE) and the JPM Global ex-US Research Enhanced Index Equity Active UCITS ETF (JXUS).

The two funds are also listed on Deutsche Börse Xetra and other European stock exchanges. The London listing extends the US firm’s offering to the UK market. These represent two distinct approaches to global equity investment: the JPM Global Equity Active assumes a higher active risk than the benchmark, whilst the JPM Global ex-US Research Enhanced Index remains close to its benchmark and focuses its diversification on markets outside the United States.

Both strategies are classified under Article 8 of the European SFDR regulation. In addition to the US dollar-denominated classes listed in London, the range includes euro-denominated and euro-denominated currency-hedged versions traded on Xetra: for JXUS, the EUR Hedged accumulation class (ISIN IE0008DO91F6); for JGLE, the EUR Accumulation classes (ISIN IE000MTYM4K8) and EUR Hedged Accumulation classes (ISIN IE000BHH6TY7). These classes also maintain their respective TERs of 25 and 47 basis points and their Article 8 classification.

JXUS: enhanced indexing applied to non-US markets

The JPM Global ex-US Research Enhanced Index Equity Active UCITS ETF invests in global equities outside the United States. With this launch, the company’s Research Enhanced Index (REI) range expands to 16 sub-funds, with total assets of approximately 37.1 billion dollars.

The product’s objective is diversification. The weighting of US equities has risen significantly in numerous global indices, and JXUS enables investors to build an international equity exposure that reduces this concentration. The strategy maintains a deliberately index-close approach: it remains neutral across sectors, regions and investment styles, whilst specific recommendations on individual stocks, derived from analysts’ research, are used for minor over- and under-weightings. Risk management is designed to keep volatility in line with that of the MSCI World ex-US Index.

Management is entrusted to Piera Elisa Grassi, head of global and international REI strategies, alongside fund managers Winnie Cheung, Nicholas Farserotu and Sebastian Wiseman. The total annual expense ratio (TER) is 25 basis points.

JGLE: a ‘higher active’ strategy on the global equity market

The JPM Global Equity Active UCITS ETF, on the other hand, takes on a higher level of active risk. It is the company’s first ‘higher active’ global equity ETF in Europe and is aimed at investors seeking greater potential for outperformance compared with traditional benchmark-anchored strategies.

The portfolio is concentrated and built around a smaller number of convictions, with a higher tracking error. The strategy aims to generate consistent excess returns across different market phases by combining quantitative signals generated by in-house research with fundamental analysis. The process is disciplined and focused on bottom-up stock selection and portfolio construction. The benchmark is the MSCI ACWI (All Country World Index).

The management team comprises Philippa Clough, Callum Abbott and Erna Ceka. The TER is 47 basis points.

JGLE joins the firm’s range of ‘higher active’ equity ETFs, which collectively manage approximately $1.2 billion. This product family was launched in 2022 with the JPM US Equity Active UCITS ETF (JUKE), Europe’s first ‘higher active’ UCITS equity ETF, followed by sub-funds dedicated to US value and growth stocks.

The context: diversifying beyond the United States

The two launches come at a time when many investors are reviewing the composition of their equity portfolios. Years of US market dominance, driven by the performance of a small number of large technology companies, have left many global portfolios heavily concentrated in US stocks. Hence the interest in broader international exposure and alternative sources of return.

“Investors are rethinking how they construct their global equity allocations — in particular, how to diversify beyond an increasingly dominant US focus and how to balance their focus on returns with greater risk control. JGLE and JXUS are designed as key components for portfolio diversification and offer two innovative ways to capture global equity investments within a resilient portfolio,” said Travis Spence, Global Head of ETFs at J.P. Morgan Asset Management.

Spence added that the two funds are designed as core portfolio components and benefit from the liquidity and transparency typical of the ETF structure.

A rapidly growing market

The launch strengthens J.P. Morgan Asset Management’s position as the leading issuer of active UCITS ETFs in Europe in terms of assets under management and net inflows year-to-date. According to Morningstar data as at the end of 2025, the firm held around 47 per cent of assets in European active ETFs, largely thanks to the success of its Research Enhanced Index range; it was followed by Fidelity (10.4 per cent) and Pimco (6.7 per cent).

The active ETF segment remains a rapidly expanding niche. Assets under management in active ETFs domiciled in Europe rose from €52.5 billion at the end of 2024 to €78.4 billion at the end of 2025, before climbing to €85.6 billion by the end of the first quarter of 2026.