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JP Morgan to buy Nutmeg

Friday 18 June 2021 08:29 CET | News

JP Morgan has entered into an agreement to acquire digital wealth manager Nutmeg for an undisclosed amount ahead of the launch of its new digital bank, according to AltFi.

Nutmeg launched in 2012 and now has 140,000 investors and GBP 3.5 billion of assets under management (AUM). This figure has accelerated since 2020, the firm says, with a growth of 70% year on year. Nutmeg offers ready-made risk-targeted investment portfolios that can be accessed via ISA, Junior ISAs, Lifetime ISAs, pensions, and general investment accounts. 

It recently launched a new line of portfolios combining active and passively managed exchange-traded funds (ETFs) powered by JP Morgan Asset Management.


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Keywords: JP Morgan, acquisition, digital banking
Categories: Banking & Fintech
Companies:
Countries: United Kingdom
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Banking & Fintech






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