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Products November 5, 2014
JPM Unveils SmartRetirement R6 Shares
J.P. Morgan Asset Management said it will offer R6 share classes of the J.P. Morgan SmartRetirement Mutual Fund series of target-date funds (TDFs).
Reported by PLANSPONSOR staff
Managed by J.P. Morgan’s Investment Management Solutions-Global Multi Asset Group (GMAG), the new share class provides a non-revenue sharing option for retirement plans of all sizes and needs. R6 share classes are being offered for all vintages in the SmartRetirement Mutual Fund series, which carry a silver rating from Morningstar.
R6 shares are offered at net asset value (NAV), with no front-end sales charges (CDSC) or 12(b)1 fees. Clients will be able to purchase R6 shares immediately and can also make a direct exchange from previous share classes.
The availability of the R6 share class offers advisers and plan sponsors an attractive non-revenue share class and fee transparency, according to Dan Oldroyd, portfolio manager of J.P. Morgan SmartRetirement.
J.P. Morgan Retirement, part of J.P. Morgan Asset Management, is a provider of retirement solutions and reports defined contribution assets under management of nearly $135 billion, as of September 30.