JPMorgan Chase & Co. - JPM STOCK NEWS

J.P. Morgan Asset Management announced the launch of SmartRetirement Plus, a retirement income solution aimed at American workers. This initiative combines J.P. Morgan's investment funds with AIG Life & Retirement's IncomEdge Control annuity to provide participants with insights into their retirement income needs. The offering allows flexible allocation decisions to suit individual spending needs and aims to address concerns about outliving retirement savings. The solution will be available digitally, enhancing participants' ability to manage their retirement funds effectively.

J.P. Morgan has entered a strategic deal to acquire a controlling interest of approximately 75% in Volkswagen Payments S.A., pending regulatory approval. This partnership aims to enhance J.P. Morgan's payment capabilities and make the platform accessible to the broader automotive industry. The initiative will focus on developing customized payment solutions for Volkswagen Group brands globally and expanding into new markets. The deal, predicted to close in the first half of 2022, aligns with the growing demand for seamless digital payment experiences in the auto sector.

BrightSphere Investment Group has announced the completion of the sale of its 75% stake in Campbell Global to J.P. Morgan Asset Management. This transaction also includes J.P. Morgan acquiring BrightSphere's co-investments in Campbell funds. Following this sale, BrightSphere will focus solely on Acadian Asset Management, which manages approximately $118 billion in assets as of June 30, 2021. Acadian has shown strong performance, with 87% of its strategies outpacing benchmarks over the past decade.

Chase and Visa are partnering to support local nonprofit New York Cares. Starting today and running through September, every tap of a Chase Visa contactless card on MTA subways and buses will result in a 10-cent donation, up to $250,000. This initiative aims to aid New Yorkers in recovery post-pandemic. Contactless payment usage on MTA has surged by over 225% since January 2021, reflecting growing demand for convenient payment methods. Chase has issued over 50 million contactless cards, with tap transactions increasing by 126% in 2021.

JPMorgan Chase & Co. has declared dividends on its Series V, X, and II preferred stock. As of June 30, 2021, the firm reported total assets of $3.7 trillion and stockholders’ equity of $286.4 billion. Known for leadership in investment banking and consumer financial services, JPMorgan serves a diverse array of clients globally. For further details on the dividends, please visit the Firm's Investor Relations website.

Marianne Lake, Co-Head of Consumer & Community Banking at JPMorgan Chase, will present at the Barclays Global Financial Services Conference on September 14, 2021, at 9:00 a.m. (Eastern). The event will be virtual, allowing global access to stakeholders. A live audio webcast will be available on the official JPMorgan Chase website under Investor Relations. As of June 30, 2021, JPMorgan Chase had $3.7 trillion in assets and $286.4 billion in stockholders’ equity, solidifying its position as a leader in financial services.

J.P. Morgan Asset Management plans to convert select U.S. mutual funds into ETFs in 2022, pending board approval. The four funds targeted for conversion have combined assets of approximately $10 billion as of June 30, 2021. This move aims to enhance J.P. Morgan's investment offerings and align with the growing trend towards ETFs. Additionally, they propose a common board for mutual funds and ETFs to improve governance. The conversions promise to provide investors with active investment options in traditionally passive spaces, maximizing liquidity and transparency.

Chase is enhancing its Sapphire Preferred and Reserve credit cards with new benefits effective August 16. Cardmembers will enjoy increased points on travel, dining, and grocery purchases. Specific upgrades include 5x points on travel through Ultimate Rewards, 3x points on dining and select streaming services, and a $50 annual credit for hotel stays. New Sapphire lounges will also be introduced at major airports, boosting value for cardmembers. Notably, annual fees remain unchanged, ensuring that shoppers continue to receive enhanced services without additional costs.