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JPMorgan takes passive minority stake in ETF provider

's assetmanagement division made a passive minority investment in exchange-traded fundprovider Global X Management Co.LLC, according to an April 14 news release.

Jed Laskowitz, JPMorganAsset Management's co-head of global investment management solutions, said itwill continue to develop its ETF lineup, with a focus on future innovation inactive ETFs.

Global X's CEO and co-founder,Bruno del Ama, added that JPMorgan's investment will step up growth of thecompany's product suite and expand its client service capabilities.

The minority investmentwill not turn Global X into a JPMorgan unit. It will have no effect on JPMorgan'sgovernance of its ETF solutions and how Global X will run its business, therelease stated. JPMorgan further clarified there will be nojoint marketing, investment management, distribution agreements or sharedgovernance between the two companies.

JPMorgan Securities LLCacted as adviser to JPMorgan Asset Management. RBC Capital Markets acted asfinancial adviser and Baker & McKenzie as legal adviser to Global X.