Business & Finance
JPMorgan Says Private Muni-Bond Accounts Swell to $1.6 Trillion
Key Points
JPMorgan Says Private Muni-Bond Accounts Swell to $1.6 Trillion The business of overseeing individually tailored municipal-bond portfolios has continued to grow rapidly, turning those money managers into the biggest holders of state and local government debt, according to JPMorgan Chase & Co. The assets in so-called separately managed accounts, known as SMAs, swelled by about 7% last year to a total of $1.6 trillion, according to the investment bank, capping a 44% jump since 2017.
JPMorgan Says Private Muni-Bond Accounts Swell to $1.6 Trillion
The business of overseeing individually tailored municipal-bond portfolios has continued to grow rapidly, turning those money managers into the biggest holders of state and local government debt, according to JPMorgan Chase & Co.
The assets in so-called separately managed accounts, known as SMAs, swelled by about 7% last year to a total of $1.6 trillion, according to the investment bank, capping a 44% jump since 2017.