At J.P. Morgan Asset Management, we’re committed to advancing racial equity. And now, by harnessing the strength of our business and investment expertise, we’ve created an innovative new program that aims to bring new economic opportunities to underserved communities.
Designed to work with minority- and diverse-led financial institutions, this initiative enables qualified firms to offer J.P. Morgan’s full spectrum of money market funds, as well as distribute the Empower share class. This approach provides these partners with an attractive new revenue opportunity, and empowers them to deliver ongoing positive change in their communities. At the same time, corporate investors gain access to financial institutions that will support their socioeconomic goals.
CONNECTING MDIs AND DIVERSE-LED CDFIs
WITH INSTITUTIONAL INVESTORS
MDI = Minority Depository Institutions CDFI = Community Development Financial Institutions
INTRODUCING THE EMPOWER SHARE CLASS
The new Empower share class will allow institutional investors to further their commitment to ESG-related holdings while also creating a new income stream for our Empowering Change partners, who will receive payment for services related to their investment. In addition, J.P. Morgan has committed to an annual 12.5% donation* of gross revenue received from the management fees on the Empower share class to support community development.
*The annual donation will be made for the life of the Empower share class to the Empower and Community Development Fund, a Donor-Advised Fund administered by the Chicago Community Trust, that is committed to supporting community development to expand opportunities within underserved communities.
We have a collective responsibility to stand up and take serious action to address centuries of structural racism. We can all do better and do more. Our words and actions matter.