JPMorgan Retains Conventional Weapons Exclusion in Luxembourg Fund Amid Policy Changes
JPMorgan has decided to maintain its exclusion of conventional weapons investments in one Luxembourg fund, despite previously lifting restrictions on 95 other funds. This decision was communicated in a shareholders notice, indicating specific management reasons for the multi-manager alternatives fund, which has net assets of approximately €342 million. The firm manages over $4 trillion in assets globally and categorizes all 95 funds as 'article 8' under EU ESG investment rules.
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JPMorgan has reversed its previous decision to lift the exclusion of conventional weapons from one of its Luxembourg-based investment funds. While the firm announced the removal of restrictions on 95 funds effective 16 February, it stated that the multi-manager alternatives fund would retain its exclusion for specific management reasons.
As of 19 February, this fund had net assets of around €342 million. JPMorgan's 95 funds collectively have over €150 billion in net assets, and the firm manages approximately $4 trillion globally. All funds are classified as 'article 8' under EU ESG investment criteria.
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