JPMorgan Liquid Assets Money Market Fund Premier Shares
PJLXX
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- JPMorgan Liquid Assets Money Market Fund Premier Shares (PJLXX) is a prime money market fund managed by J.P. Morgan Investment Management Inc., a subsidiary of JPMorgan Chase & Co., that seeks current income while preserving capital and providing liquidity through investments exclusively in high-quality, short-term U.S. dollar-denominated money market instruments. The Fund principally invests in commercial paper (including asset-backed commercial paper), corporate notes, funding agreements, certificates of deposit, non-negotiable time deposits, bank obligations, repurchase agreements (including U.S. Treasury and other repo agreements), and U.S. Treasury debt; it concentrates holdings in the financial services industry and complies with Rule 2a-7 under the Investment Company Act of 1940. Launched in 1987 by JPMorgan Chase & Co., founded in 1871 and headquartered at 270 Park Avenue in New York, the Premier Shares class (CUSIP 4812C0332) was introduced on February 22, 2005, targeting institutional investors with a $1 million minimum investment, and maintains approximately $82.5 billion in assets under management as of late 2025. The Fund supports temporary cash management, seasonal operating needs, automated sweeps, and portfolio liquidity components across U.S. markets. In sector allocation, cash and equivalents comprise over 92%, followed by corporate bonds at 4.57%, government securities at 1.42%, convertibles at 0.77%, and municipal taxable at 0.31%, with a weighted average maturity of 37 days and effective maturity heavily weighted toward 1-day assets at 56.7% as of November 30, 2025. The Fund reports a net expense ratio of 0.43%, a 7-day SEC yield of 3.72%-3.80% (unsubsidized), daily liquid assets of 38.23%, and weekly liquid assets of 52.46%, with fee waivers in place through June 30, 2026, to cap expenses. J.P. Morgan Investment Management, with a management team in place since 2003, oversees the portfolio of 477 holdings focused on prime money market strategies benchmarked against the USTREAS T-Bill Auction Average 3-Month Index. Recent developments within J.P. Morgan Asset Management include the December 2025 launch of its first tokenized money market fund, My OnChain Net Yield Fund (MONY), on the Ethereum blockchain via the Kinexys platform, offering daily interest payouts redeemable in cash or USDC stablecoin to qualified wealthy clients and institutions with a $1 million minimum; this expands liquidity solutions amid broader industry tokenization trends. The broader JPMorgan money market lineup saw a new European government-only fund introduction in 2024 with €500 million in initial assets, alongside ongoing platform enhancements like Morgan Money integrations for treasury and cash management. No specific acquisitions, funding rounds, or reorganizations directly impacted PJLXX in 2024-2025, though J.P. Morgan Asset Management raised $1.44 billion for its PEG Global Private Equity XII fund in December 2025, signaling robust capital-raising activity across segments.