The folks at a money center bank's $3.6-trillion-AUM (as of December 31) asset management arm are preparing to shut down an actively managed ESG ETF in a month, half a year before its third birthday.

Mary Callahan Erdoes J.P. Morgan CEO of Asset and Wealth Management

Yesterday (February 18), the J.P. Morgan Asset Management [profile] team revealed that they plan to liquidate the JPMorgan Sustainable Infrastructure ETF (BLLD on the Nasdaq). The fund's last trading day is scheduled for March 21, and the liquidation is slated for March 28. The press release and SEC filing on the plan do not indicate why the fund board decided to shutter the ETF.

BLLD's inception date was September 7, 2022. The ETF has an expense ratio of 49 basis points. As of yesterday, BLLD had $20 million in AUM.

J.P. Morgan Investment Management Inc. serves as BLLD's administrator and investment advisor. Wei (Victor) Li, executive director, and Fred Barasi, managing director, have PMed the fund since inception. (A third portfolio manager left the fund on June 30, 2024.)

BLLD is a series of J.P. Morgan Exchange-Traded Funds. The ETF's other service providers include: Citibank, N.A. as securities lending agent; Dechert LLP as counsel; J.P. Morgan Distribution Services, Inc. as distributor; JPMorgan Chase Bank as custodian, fund accounting agent, and transfer agent; and PricewaterhouseCoopers LLP as independent accounting firm. 

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