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JPMorgan Asset Management (Australia) Limited has published its monthly update on notional derivative exposure for two actively managed exchange-traded funds: the JPMorgan Equity Premium Income Active ETF (ASX:JEPI) and the JPMorgan Equity Premium Income (Hedged) Active ETF (ASX:JHPI) as of 30 June 2026. The report confirms that both funds had zero notional listed derivative exposure and zero OTC derivative exposure (excluding FX hedging) at month-end. JEPI’s net asset value was approximately $160 million, while JHPI’s NAV was just below $8 million. This disclosure complies with ASX Operating Rule 10A.3.1(e), which mandates regular derivative position reporting for active ETFs.<\/p> <\/div>
Key Points<\/h3>
- Entity: JPMorgan Asset Management (Australia) Limited managing JEPI and JHPI funds<\/li>
- Both JEPI and JHPI reported 0.00% notional listed and OTC derivative exposure (excluding FX hedging) as at 30 June 2026<\/li>
- JEPI NAV: $160,002,644.15; JHPI NAV: $7,989,736.90 as of 30 June 2026<\/li>
- Disclosure made under ASX Operating Rule 10A.3.1(e) concerning active ETF derivative reporting<\/li>
- Investors should monitor future monthly derivative exposure updates and changes in NAV or portfolio composition<\/li>
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<\/div>
JEPI’s Net Asset Value Hits $160 Million at June 2026 Close<\/h2>
The JPMorgan Equity Premium Income Active ETF reported a net asset value of $160,002,644.15 as of 30 June 2026, representing the full basis for calculating derivative exposure percentages in this disclosure. This figure offers investors and market participants a clear view of the fund’s scale on the Australian Securities Exchange.<\/p>
Since both listed and OTC derivative exposures stood at 0.00% relative to this NAV, the update indicates that JEPI held no reportable derivative positions under the ASX operating rule at the end of June. With a $160 million NAV, JEPI is the larger of the two JPMorgan equity premium income ETFs listed on the ASX.<\/p>
JHPI Reports Nearly $8 Million NAV with No Derivative Exposure<\/h2>
The JPMorgan Equity Premium Income (Hedged) Active ETF (ASX:JHPI) recorded a net asset value of $7,989,736.90 as of 30 June 2026. Similar to JEPI, JHPI showed zero notional listed and OTC derivative exposure (excluding FX hedging) at this date.<\/p>
JHPI’s smaller size compared to JEPI reflects differing investor demand for the currency-hedged strategy, which aims to mitigate the impact of Australian dollar and foreign currency fluctuations on returns. The update did not provide prior period NAVs, so month-to-month fund flow trends cannot be assessed from this release alone.<\/p>
Implications of Zero Derivative Exposure for Fund Investors<\/h2>
The 0.00% notional listed and OTC derivative exposures reported do not imply that derivatives are absent from the funds’ investment strategies. The update clarifies that OTC derivative exposure excludes FX hedging derivatives, which are particularly relevant for JHPI and thus not reflected in these figures.<\/p>
The reported notional exposure represents the total market value of underlying securities linked to derivative contracts, not the profit or loss from those contracts. The zero values at 30 June 2026 indicate that neither fund had outstanding derivative contracts requiring disclosure under ASX Operating Rule 10A.3.1(e) at that time.<\/p>
Equity-Linked Notes and Call Options Form the Core of the Income Strategy<\/h2>
According to the update, both funds aim to generate current income while preserving potential for capital growth. Through an Underlying Fund, they maintain an actively managed equity portfolio based on a benchmark and employ equity-linked notes by writing call options tied to the same benchmark.<\/p>
This covered call or equity premium income strategy is designed to produce additional income from option premiums on top of dividends and equity returns. The Underlying Fund typically targets steady monthly distributions, appealing to investors seeking regular income rather than solely capital appreciation. Investors should consult the Product Disclosure Statement for detailed risk and strategy information.<\/p>
Regulatory Context: ASX Operating Rule 10A.3.1(e)<\/h2>
The derivative exposure update is mandated by ASX Operating Rule 10A.3.1(e), which requires active ETFs on the ASX to disclose their notional derivative exposures regularly. This rule ensures transparency regarding the use of listed and OTC derivatives in these funds.<\/p>
The ASX’s active ETF framework permits fund managers to operate without daily portfolio disclosure, unlike traditional index ETFs, in exchange for ongoing derivative reporting. This regulatory balance protects managers’ competitive information while providing investors with essential transparency. Compliance with these reporting requirements is a condition of listing for both JEPI and JHPI.<\/p>
Fund Management and Trustee Roles<\/h2>
The update was issued by JPMorgan Asset Management (Australia) Limited (ABN 55 143 832 080, AFSL 376919), the manager of both funds. The funds are issued by Perpetual Trust Services Limited (ABN 48 000 142 049, AFSL 236648), serving as responsible entity in line with common Australian ETF structures where management and trustee functions are distinct.<\/p>
JPMorgan Asset Management is the Australian division of the global investment arm of JPMorgan Chase & Co. The presence of a globally recognised asset manager may be a relevant factor for investors assessing the funds’ institutional backing. For inquiries, the manager can be contacted at 1800 576 468.<\/p>
Clarifying Notional Derivative Exposure Versus Financial Outcomes<\/h2>
The update emphasizes the difference between notional derivative exposure—the total market value of securities underlying derivative contracts—and the actual profit or loss from those derivatives. This distinction is crucial for interpreting the monthly disclosures.<\/p>
A zero notional exposure, as reported for both funds at 30 June 2026, means no reportable derivative contracts were outstanding at that time. Investors interested in the financial impact of the funds’ option-writing strategies should refer to the funds’ financial reports and Product Disclosure Statements.<\/p>
Monthly Distribution Goals and Portfolio Implications<\/h2>
The announcement reiterates the Underlying Fund’s goal of providing relatively stable monthly distributions, a hallmark of the equity premium income approach. This strategy combines an equity portfolio with equity-linked notes and a covered call overlay to generate consistent income regardless of market conditions.<\/p>
The update did not disclose distribution amounts, yields, or income targets. Investors seeking current distribution data should consult official fund distribution histories and the PDS. The immediate market reaction to this routine disclosure was not evident from available information.<\/p>
Monitoring Future Derivative Exposure Updates<\/h2>
Given the nature of the equity premium income strategy, which involves call options and equity-linked notes, future derivative exposure reports may show nonzero positions. Changes in market conditions or portfolio adjustments could lead to reportable derivative exposures in upcoming disclosures. Investors may find these monthly updates useful for tracking the active deployment of the options overlay.<\/p>
The next scheduled derivative exposure report for JEPI and JHPI will cover the period ending 31 July 2026 and will be released under the same ASX regulatory framework. Investors should also watch for updates on NAV, distributions, or material strategy changes through official communications. For tailored financial advice, consulting a licensed adviser and reviewing the Product Disclosure Statement is recommended.<\/p>
JEPI’s Net Asset Value Hits $160 Million at June 2026 Close<\/h2>
The JPMorgan Equity Premium Income Active ETF reported a net asset value of $160,002,644.15 as of 30 June 2026, representing the full basis for calculating derivative exposure percentages in this disclosure. This figure offers investors and market participants a clear view of the fund’s scale on the Australian Securities Exchange.<\/p>
Since both listed and OTC derivative exposures stood at 0.00% relative to this NAV, the update indicates that JEPI held no reportable derivative positions under the ASX operating rule at the end of June. With a $160 million NAV, JEPI is the larger of the two JPMorgan equity premium income ETFs listed on the ASX.<\/p>
JHPI Reports Nearly $8 Million NAV with No Derivative Exposure<\/h2>
The JPMorgan Equity Premium Income (Hedged) Active ETF (ASX:JHPI) recorded a net asset value of $7,989,736.90 as of 30 June 2026. Similar to JEPI, JHPI showed zero notional listed and OTC derivative exposure (excluding FX hedging) at this date.<\/p>
JHPI’s smaller size compared to JEPI reflects differing investor demand for the currency-hedged strategy, which aims to mitigate the impact of Australian dollar and foreign currency fluctuations on returns. The update did not provide prior period NAVs, so month-to-month fund flow trends cannot be assessed from this release alone.<\/p>
Implications of Zero Derivative Exposure for Fund Investors<\/h2>
The 0.00% notional listed and OTC derivative exposures reported do not imply that derivatives are absent from the funds’ investment strategies. The update clarifies that OTC derivative exposure excludes FX hedging derivatives, which are particularly relevant for JHPI and thus not reflected in these figures.<\/p>
The reported notional exposure represents the total market value of underlying securities linked to derivative contracts, not the profit or loss from those contracts. The zero values at 30 June 2026 indicate that neither fund had outstanding derivative contracts requiring disclosure under ASX Operating Rule 10A.3.1(e) at that time.<\/p>
Equity-Linked Notes and Call Options Form the Core of the Income Strategy<\/h2>
According to the update, both funds aim to generate current income while preserving potential for capital growth. Through an Underlying Fund, they maintain an actively managed equity portfolio based on a benchmark and employ equity-linked notes by writing call options tied to the same benchmark.<\/p>
This covered call or equity premium income strategy is designed to produce additional income from option premiums on top of dividends and equity returns. The Underlying Fund typically targets steady monthly distributions, appealing to investors seeking regular income rather than solely capital appreciation. Investors should consult the Product Disclosure Statement for detailed risk and strategy information.<\/p>
Regulatory Context: ASX Operating Rule 10A.3.1(e)<\/h2>
The derivative exposure update is mandated by ASX Operating Rule 10A.3.1(e), which requires active ETFs on the ASX to disclose their notional derivative exposures regularly. This rule ensures transparency regarding the use of listed and OTC derivatives in these funds.<\/p>
The ASX’s active ETF framework permits fund managers to operate without daily portfolio disclosure, unlike traditional index ETFs, in exchange for ongoing derivative reporting. This regulatory balance protects managers’ competitive information while providing investors with essential transparency. Compliance with these reporting requirements is a condition of listing for both JEPI and JHPI.<\/p>
Fund Management and Trustee Roles<\/h2>
The update was issued by JPMorgan Asset Management (Australia) Limited (ABN 55 143 832 080, AFSL 376919), the manager of both funds. The funds are issued by Perpetual Trust Services Limited (ABN 48 000 142 049, AFSL 236648), serving as responsible entity in line with common Australian ETF structures where management and trustee functions are distinct.<\/p>
JPMorgan Asset Management is the Australian division of the global investment arm of JPMorgan Chase & Co. The presence of a globally recognised asset manager may be a relevant factor for investors assessing the funds’ institutional backing. For inquiries, the manager can be contacted at 1800 576 468.<\/p>
Clarifying Notional Derivative Exposure Versus Financial Outcomes<\/h2>
The update emphasizes the difference between notional derivative exposure—the total market value of securities underlying derivative contracts—and the actual profit or loss from those derivatives. This distinction is crucial for interpreting the monthly disclosures.<\/p>
A zero notional exposure, as reported for both funds at 30 June 2026, means no reportable derivative contracts were outstanding at that time. Investors interested in the financial impact of the funds’ option-writing strategies should refer to the funds’ financial reports and Product Disclosure Statements.<\/p>
Monthly Distribution Goals and Portfolio Implications<\/h2>
The announcement reiterates the Underlying Fund’s goal of providing relatively stable monthly distributions, a hallmark of the equity premium income approach. This strategy combines an equity portfolio with equity-linked notes and a covered call overlay to generate consistent income regardless of market conditions.<\/p>
The update did not disclose distribution amounts, yields, or income targets. Investors seeking current distribution data should consult official fund distribution histories and the PDS. The immediate market reaction to this routine disclosure was not evident from available information.<\/p>
Monitoring Future Derivative Exposure Updates<\/h2>
Given the nature of the equity premium income strategy, which involves call options and equity-linked notes, future derivative exposure reports may show nonzero positions. Changes in market conditions or portfolio adjustments could lead to reportable derivative exposures in upcoming disclosures. Investors may find these monthly updates useful for tracking the active deployment of the options overlay.<\/p>
The next scheduled derivative exposure report for JEPI and JHPI will cover the period ending 31 July 2026 and will be released under the same ASX regulatory framework. Investors should also watch for updates on NAV, distributions, or material strategy changes through official communications. For tailored financial advice, consulting a licensed adviser and reviewing the Product Disclosure Statement is recommended.<\/p>
