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J.P. Morgan’s Global Index Research is a market leader in fixed income indices with over 30 years of experience as thought leaders developing indices in emerging and developed markets. The team creates index solutions through our markets-aligned approach by integrating J.P. Morgan’s top-rated research franchise to provide first-class client service. Our objectives are to provide knowledgeable insights, bespoke products and informed index management decisions that clients can rely on.

Since the launch of our first fixed income index in 1989, our business has evolved to meet the diverse needs of our clients in an increasingly complex and data-driven market environment. Our product suite now incorporates multiple asset classes including ESG, CLOs, Rates, Sovereign, Credit and more amongst Emerging and Developed Markets.

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    Broad coverage across fixed-income markets

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    Part of award-winning Fixed Income Global Research

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    Global client Reach

The J.P. Morgan Index Advantage

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JESG Green Bond Index

| 03:13

JESG Green Bond Index

JESG Green Bond Index

[Music]

Jamie Dimon: Today the world is facing a number of significant environmental, social, and governance challenges. As a global financial institution, JPMorgan Chase recognizes, that our business decisions have the potential to impact the environment, and surrounding communities. Climate change is one of the priorities we are addressing. We are growing our capabilities, to help clients raise the capital they need, to invest in projects and initiatives, intended to achieve positive environmental and social outcomes. And we are calling for coordinated policy solutions that can help all of us effectively confront this threat. In 2020, we are aiming to facilitate $200 billion dollars in financing, to drive action on climate change, and advance the objectives of the United Nations Sustainable Development Goals. There are numerous ESG initiatives the firm is undertaking and we'll continue to expand our commitment to sustainable business practices to better serve our clients, customers, employees, and our local communities. Thank you.

Marilyn Cece: J.P. Morgan is proud to be one of the original co-authors of the Green Bond Principles. And to continue to serve on its executive committee, we are pleased our involvement has given rise to the further development and expansion of the sustainable debt capital markets, including the social bond principles, sustainability bond guidelines, and the most recently the sustainability linked bond principles, providing the market best practice guidance. Our firm's approach to ESG has facilitated partnerships across various lines of business at J.P. Morgan enabling us to better serve our issuer and investor clients.

Gloria Kim: Responsible investing is increasingly being integrated into our index business and in J.P. Morgan's research overall. We recognize there's an opportunity, but also a responsibility, to better serve and support our clients, as they advance in their own ESG capabilities. With this in mind, our index team launched the J.P. Morgan ESG Suite of Indices. It's designed to provide investors with a foundational framework to incorporate ESG discipline within their investment process, regardless of where they are in their ESG journey. Since the launch in 2018, the assets managed against the J.P. Morgan ESG indices have grown exponentially. Our latest edition to the ESG index lineup will be a green bond index, with the support of Climate Bonds Initiative. It will explicitly contain green bonds as determined by CBI. This index is unique in that it rewards certified green bonds that are aligned with the Paris Agreement of two degrees warming verses just general green bond issuances. And we believe this will help promote the transparency and vigor the green bond market needs to achieve scale. Thank you for your continued partnership and support for J.P. Morgan's global index research offerings and we will continue to service you with more innovative products. Thank you.

[End of video]


 

Product Suite

J.P. Morgan's comprehensive suite of Fixed Income Sustainability Indices is divided into three distinct families, each tailored to address specific investment goals and sustainability criteria. These diverse methodologies assess and rank companies or issuers differently, allowing investors to select indices that reflect their ESG priorities.

J.P. Morgan Screened Tilted & Reweighted (JSTAR) Suite

First, the flagship JSTAR Index Suite (link), launched in 2018, sets the standard for fixed income ESG investing in emerging markets. This pioneering family of indices integrates multiple ESG best practices, including industry-standard exclusionary screening, while maintaining alignment with the asset class profile. The JSTAR indices are designed to empower investors to make informed decisions that align with their sustainability values.

The JSTAR Index Suite offers coverage across multiple asset classes, including:

  • Credit bonds universe tracked by the JSTAR Global Corporate Index (JSTAR GCI), JSTAR Corporate Emerging Markets Bond Index (JSTAR CEMBI), and JSTAR Asia Credit Index (JSTAR JACI)
  • Sovereign bonds tracked by JSTAR Emerging Markets Bond Index (JSTAR EMBI) and JSTAR Government Bond Index – Emerging Markets Index (JSTAR GBI-EM)
  • The JSTAR Green, Social, and Sustainability Bond Index (JSTAR GESSIE) and JSTAR Green Bond Index (JSTAR GENIE) track global issuance of labeled debt instruments

JESG GCI  JESG EMBI   JSTAR CEMBI    JSTAR JACI    JESG GBI-EM  JESG GENIE  JESG GENIE EM  JESG GESSIE

Sustainable Debt Benchmarks

The second family, our sustainable debt benchmarks are designed to guide investors through the burgeoning market of green, social and sustainability bonds. These indices ensure that capital is directed towards impactful projects that drive positive change, providing a clear pathway for investors committed to sustainable finance and impact investing.

  • The J.P. Morgan Green Bond Index (GENIE) is a market-cap weighted global aggregate of green bonds issued across credits (USD, EUR, GBP) and local currency government bonds (over 30 eligible currencies).
  • The J.P. Morgan Emerging Markets Green Bond Diversified Index (GENIE EM) provides access to a comprehensive emerging markets focused green bond universe.
  • The J.P. Morgan Green, Social and Sustainability Bond Index (GESSIE) is designed to track labelled bonds issued with proceeds dedicated to green and/or social activities, assets, projects, or expenditures.

GENIE   JESG GENIE EM    JESG GESSIE

Climate Benchmarks

Completing our suite are the J.P. Morgan Paris-Aligned (PAB) and Climate Transition (CTB) Benchmarks (link). These indices represent our most rigorous ESG offerings, adhering to the European Commission’s Delegated Act's minimum technical requirements. While both pursue similar sustainability objectives, they differ in their level of ambition and focus, providing investors with options that align with their specific climate goals.

  • JPM PAB Indices select, weight and exclude constituents with the aim that the resulting emissions of the remaining underlying constituents as a whole will be aligned with the objectives of the Paris Agreement.
  • JPM CTB Indices are designed to evaluate the contribution of the underlying constituents to the transition to a low-carbon economy and protect against the transition risks associated with climate change and the transition to a low-carbon economy.

PAB CEMBI   CTB CEMBI

The J.P. Morgan sovereign indices offer extensive coverage across developed and emerging markets local currency bonds:

  • Developed market local currency bonds are tracked by the J.P. Morgan Government Bond Index (GBI), complimented by the J.P. Morgan US TIPS Index (JUSTINE), the J.P. Morgan Euro Linker Securities Index (ELSI), and the J.P. Morgan Gilt Inflation Linked Local Index (GILLI)
  • The J.P. Morgan Government Bond Index Emerging Markets (GBI-EM) covers emerging market domestic sovereign bonds
  • The GBI Aggregate Index (GBI-AGG) tracks sovereign local currency bonds across developed and emerging markets, while GBI-Cross Markets Index (GBI-CM) primarily tracks fixed-rate developed market local government bonds with exposure to advanced emerging markets
  • Region-specific indices include European Monetary Union Index (EMU), China Aggregate Index, and the J.P. Morgan Asia Diversified Index (JADE) family exclusively covers local currency bonds within the Asia region

Aggregates

GBI Aggregate / Diversified  GBI Cross-Markets  JADE Global Diversified  JADE Broad Diversified

Developed Markets

Sovereign

GBI Global  GBI Board  EMU

Inflation Linkers

JUSTINE  ELSI  GILLI

Emerging Markets

GBI-EM Global Diversified  GBI-EM Broad Diversified  GBI-EM Narrow Diversified  China Aggregate

Within the credit space, we offer a broad suite of indices covering both developed and emerging markets universe:

  • Our flagship J.P. Morgan Emerging Markets Bond Index (EMBI®) family covers hard-currency denominated sovereign bonds, while Next Generation Market Index (NEXGEM) focuses on the frontier economies
  • Emerging markets corporate bonds are tracked by the Corporate Emerging Market Bond Index (CEMBI), the J.P. Morgan Asia (JACI) suite, the Central America and Caribbean (CACI), and the Middle East Composite (MECI) indices
  • The J.P. Morgan Global Corporate Index (GCI) suite of indices tracks corporate bonds across developed and emerging markets

Global Corporates

  • GCI
  • GCI IG
  • GCI HY

Emerging Markets

Sovereign

EMBI® Global / Diversified  EURO EMBIG / Diversified  NEXGEM  EMBI+

Corporates

CEMBI Broad / Diversified  CEMBI Narrow / Diversified  CEMBI+ IG / HY  JACI / Diversified  MECI  CACI

Other

JULI  High Yield

The J.P. Morgan Securitized suite of indices provides a wide range of coverage within the securitized space:

  • The J.P. Morgan Collateralized Loan Obligation Index (CLOIE) is the first rule-based total return benchmark designed to track the USD-denominated, broadly syndicated, arbitrage US CLO market
  • The J.P. Morgan Asset Backed Securities Index (ABS) represents US dollar denominated tradeable ABS instruments.
  • The J.P. Morgan MBS Agency Index (MAX) is an in-depth measure of the US Mortgage-Backed Securities fixed-rate agency market

CLOIE  ABS  MAX

Products within the rates & FX space:

  • The Emerging Local Markets Index Plus (ELMI+) tracks total returns for local currency denominated money market instruments in emerging market countries
  • The J.P. Morgan Cash Index serves as a reliable performance benchmark for a fund’s cash component and are offered in multiple tenors

ELMI+  Cash Index - Euro / Global

Within the Cross-Asset space:

  • The J.P. Morgan Global Aggregate Bond Index (GABI) unifies all core J.P. Morgan bond indices under a single platform, leveraging flagship indices such as the EMBI®, GBI, and CLOIE which are industry standards in their respective asset classes
  • Complementing the global benchmark is the US-only GABI - the GABI US is a holistic gauge for the entire US fixed income market capturing all USD denominated debt within the GABI
  • The J.P. Morgan Emerging Markets Blended (JEMB) suite of indices is an aggregate EM fixed income benchmark that blends US dollar and local currency denominated sovereign, quasi-sovereign, and corporate bonds

GABI  GABI US  EM BLENDS

The J.P. Morgan Index Research team offers a custom benchmark experience where clients work alongside a dedicated index research specialist to tailor their index strategies across various asset classes.

  • Custom indices and ETF benchmarks – tailored solutions for portfolio management and risk assessment for asset owners, asset managers, sovereign wealth funds, ETF issuers, and more
  • The J.P. Morgan Index Research Replication Strategy (IRR) offers durable cash-based passive indexing strategies for investors looking to efficiently replicate the performance of the J.P. Morgan EM fixed income suite of indices. The IRR platform aims to optimize both execution and coverage

Custom Indices  ETF  Replication

Partner with our Global Index Research team to design your bespoke index solution. For platform access, contact Index Licensing at:
index.licensing@jpmorgan.com

Collaborate with J.P. Morgan

Collaborate with J.P. Morgan to Identify and analyze the most suitable index for your product needs. We offer Fixed Income market expertise to recommend strategies. 

Construct an Index

Construct an index that reflects your strategy, flexibility to diversify across asset classes to optimize through changing market conditions. Established index construction and delivery processes to refine the data to your index needs. 

Test your strategy

Test your strategy, analyze and refine the Index requirements for launch. Work in partnership to finalize the Index criteria.

Launch your ETF

Launch your ETF on the path to ETF product growth in partnership with J.P. Morgan.

Assistance in product documentation and publication requirements, as well as ongoing collaboration to review your product.

Portfolio Manager/Index Manager tool

Portfolio Manager/Index Manager tool—your multi-asset pre-trade analytics and data platform, simplifying the way users generate valuable market insight.

Get in touch

For more information, speak to a member of our team:


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This communication is for informational purposes only and is intended solely for your use. No one may reproduce or disseminate the information contained in these materials without the prior written consent of the investment bank of JPMorgan Chase & Co. ("J.P. Morgan").

Any material containing ESG ratings, as defined in the Securities and Exchange Board of India (Credit Rating Agencies)(Amendment) Regulations, 2023 (as may be amended and updated from time to time), is not intended to be, and is not to be distributed into India or to Indian domiciled users.

All information provided herein regarding J.P. Morgan Index products (referred to herein as "Index" or "Indices"), including without limitation, the levels of the Indices, is provided for informational purposes only, and nothing herein constitutes, or forms part of, an offer or a solicitation for the purchase or sale of any financial instrument, or an official confirmation of any transaction, or a valuation or a price for any product referencing the Indices. Nor should anything herein be construed as a recommendation to adopt any investment strategy or as legal, tax or accounting advice. The information contained herein is subject to change without notice. All Indices are derived from sources, including market prices, data and other information, that are considered reliable, but the Index Administrator (defined below) does not warrant their completeness or accuracy or any other information furnished in connection with the Indices. Past performance is not indicative of future returns, which will vary. J.P. Morgan and/or its affiliates and employees may hold positions (long or short), effect transactions or act as market maker in the financial instruments of any issuer data contained herein or act as underwriter, placement agent, advisor, or lender to such issuer.

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Additional information regarding the Indices may be found on www.jpmorganmarkets.com.