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J.P. Morgan Asset Management invests in Hong Kong ESG data firm

J.P. Morgan
By Hui Ching-hoo   
October 27, 2021

J.P. Morgan Asset Management has acquired a minority equity interest in Hong Kong-based environmental, social and governance data firm MioTech, a move that the US asset manager says aligns with its expansion in China.

It did not disclose the actual share or the purchase price.

MioTech uses artificial intelligence to help solve sustainability and climate change challenges faced by financial institutions.

The firm will deploy its technology and Chinese language data science capabilities to support the US company’s recently created Asia Pacific data science team, J.P. Morgan Asset Management says in a statement on October 26.

The team, led by Lee Bray, its Asia Pacific head of equity trading and data science, analyses Chinese ESG data to accelerate development of the asset manager’s global ESG proprietary scoring system.

According to Dan Watkins, J.P. Morgan Asset Management’s Asia Pacific chief executive officer, the investment supplements the company’s existing on-the ground research capabilities and bolsters insights into “evolving data solutions for clients investing into China”.

“This investment aligns with our long-term strategic commitment and ongoing expansion in China, one of the largest growth opportunities for our business and our clients,” he says in the statement.

New York-based J.P. Morgan Asset Management had US$2.7 trillion of assets under management as of September 2021.