J.P. Morgan's Depositary Receipts Group is now serving as sponsor for all Vanguard Exchange Traded Funds (ETFs) that are listed on the international segment of the Mexican Stock Exchange, Bolsa Mexicana de Valores (BMV). The Bank began offering select Vanguard ETFs on the BMV in December 2008.
Dennis Duffy, a principal in Vanguard's International division, said: "Investors' appetite for Vanguard's broad line-up of ETFs continues to grow, and we believe that our relationship with J.P Morgan will meet the needs of this expanding marketplace."
Joseph Dooley, Depositary Receipts Executive for the Americas at J.P. Morgan, said: "We are pleased to welcome all Vanguard's ETFs listed in Mexico to J.P. Morgan. We believe there will be strong demand by investors for these peso-denominated ETFs that will provide U.S. and global exposure."
Vanguard ETFs are listed on the BMV in pesos and trades can be initiated through a local broker. J.P. Morgan services the ETFs and handles all corporate actions. J.P. Morgan also disseminates relevant shareholder and corporate actions information in the Mexican market via BMV. Additionally, a dedicated J.P. Morgan representative is available in Mexico City to provide local expertise and guidance to investors.
Since establishing the first indexed mutual fund in the US in 1976, Vanguard has grown into one of the world's largest and most respected investment management companies - managing nearly US $1.5 trillion worldwide, including $80 billion in ETF assets.
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