J.P. Morgan and Lincoln Financial merge insurance trust funds

New York, NY, Radnor, PA., December 19, 2022 – J.P. Morgan Asset Management and Lincoln Financial Group today announced that they have strengthened their partnership to have J.P. Morgan’s world class investment capabilities as part of Lincoln Financial Group’s platform, further enhancing Lincoln’s broad offerings of leading insurance, retirement and variable annuity solutions.

Under this initiative, shareholders of four JPMorgan Insurance Trust Portfolios (JPM VITs) will be asked to approve a proposal to merge the JPM VITs into four corresponding, newly formed series of Lincoln Financial Variable Insurance Products Trust (LVIP Acquiring Funds). The JPM VITs represent four of J.P. Morgan’s flagship investment strategies across equities and fixed income asset classes.

Pending shareholder approval of the merger, J.P. Morgan will serve as the subadvisor for each LVIP Acquiring Fund and will continue to manage the LVIP Acquiring Funds using its world-class portfolio management teams and investment processes. Lincoln Investment Advisors Corporation (LIAC) will be retained as the investment adviser to each LVIP Acquiring Fund.

“As a leading provider of life, annuity and retirement solutions with a $90 billion funds platform, we are thrilled to have these capabilities as part of our subadvised lineup, further enhancing how we address core investor needs,” said Ben Richer, Head of Funds Management, Lincoln Financial Group. “The combination of our scale, resources and investment platform design with J.P. Morgan’s portfolio management capabilities will deliver a best-in-class offering for our clients.”

J.P. Morgan’s subadvisory business oversees $75 billion in assets under management across variable annuity and mutual fund products and is a top five variable annuity subadvisor in the industry.

“This partnership underscores our complete focus on subadvisory relationships, the investment strategies that underpin them and supporting our clients’ own growth strategies,” said Eric Wilson, Head of Subadvisory for J.P. Morgan Asset Management. “We have a significant subadvisory relationship with Lincoln Financial and look forward to deepening this partnership and most importantly, delivering investment returns.”

The transaction is expected to take place in May 2023.