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JPMorgan Asset Management Hits $5 BillionPOSTED March 28, 2005 NEW YORK -- The managed accounts business of JPMorgan Asset Management, after more than tripling its business in 2004, has reached the $5 billion mark in assets under management. This growth was led primarily by JPMorgan Funds' strong product offering in municipals, mid cap value, large cap, and international equities. JPMorgan experienced a growth rate of 211% year over year for 2004/2003, compared to an industry growth rate of 15.9% (Cerulli, 12/04). This reflects a total of 25,000 accounts at JPMorgan, offered through 14 different sponsors, as compared to 6,900 accounts at year end 2003. Results for the business demonstrate this continued rapid growth year over year:
12/31/01 $230 million 1,000 accounts
"JPMorgan has an exceptional range of products across all asset classes and a global capability that is not easily matched by any competitor," said George Gatch, President and CEO of JPMorgan Funds. "We are excited to deliver our investment expertise through world-renowned financial institutions that share our commitment in serving this sophisticated client base." Based on global investment insight, first-class client service and over a century of experience working with some of the world's most demanding investors, top financial providers have added JPMorgan's investment management capabilities to their separately managed account product lineup. From tax-aware capabilities in the large cap and fixed income space, to mid cap value, small cap growth and international/global ADRs, JPMorgan has a very competitive product line-up and expects to continue to experience rapid growth in this business. "We are intensely committed to the growth of this business," said Nicole St. Pierre, head of the Managed Accounts business at JPMorgan. "Over the past four years we have made a tremendous investment in our operating environment, which allows us to provide top quality service to our sponsors, financial advisors and their clients." As of December 31, 2004, JPMorgan Funds has $228 billion in assets under management in 101 funds, 14 separate account strategies and 45 subadvisory mandates. |
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