J.P. Morgan Worldwide Securities Services (WSS) has been appointed by ProShares, part of ProFunds Group, to service its eight newly launched international exchange traded funds (ETFs).
J.P. Morgan WSS already provides custody, fund accounting and fund administration for 64 of ProShares equity and fixed income ETFs with total assets of USD25 billion. ProShares ETFs serviced by J.P. Morgan now total 72.
ProFunds Group, the manager of short and leveraged funds, announced in June that it was launching eight new short and leveraged ProShares ETFs. The new ProShares ETFs, which are listed on the NYSE Arca are: Ultra MSCI EAFE (EFO), Ultra MSCI Emerging Markets (EET), Ultra FYSE/Xinhua China 25 (XPP), Ultra MSCI Japan (EZJ), UltraShort MSCI Europe (EPV), UltraShort MCSI Pacific ex-Japan (JPX), UltraShort MSCI Brazil (BZQ), and MSCI Mexico Investable Market (SMK).
We enjoy an excellent relationship with ProShares that we have cultivated over the years. J.P. Morgan has a history of innovation in the ETF space and we look forward to working with ProShares on their newly launched ETFs, says Chris Lynch, Western Hemisphere sales and client executive for J.P. Morgan Worldwide Securities Services.
L.D.