AP Photo/Mark Lennihan, File
- JPMorgan is offering wealthy clients access to a strategy usually limited to institutions, Bloomberg reported.
- The bank has issued $15 million of structured notes, which carry maturities of up to five years.
- These notes track the performance of the JPM's Kronos+ index, which launched in December 2020.
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JPMorgan Chase plans to offer its wealthy clients access to a stock strategy typically limited to institutional managers, offering them a chance to ride the wave created by a massive inflow of investors, Bloomberg first reported.
The bank has issued $15 million of structured notes that will allow clients to analyze trading patterns caused by big investors in the S&P 500 under the assumption that these whales may give rise to a new trend or create momentum, according to Bloomberg.
The notes offered by the bank, which carry maturities of up to five years, track the performance of the bank's Kronos+ index that launched in December 2020, an SEC filing first viewed by Bloomberg showed. Kronos+ thus far has outperformed the benchmark.
According to the Bloomberg report, the gauge of the market tracked by the Kronos+ index hasn't seen a loss since 2008, when it dropped 54%.
The newly available strategy is among the several that big-league clients can utilize to make sense of the market, especially during bouts of volatility.