Commonwealth Bank of Australia's (ASX:CBA) Commonwealth Private segment formed a strategic alliance with J.P. Morgan Asset Management (JPMAM) to launch Private Wealth Advantage, an investment option for wholesale investors that uses research and asset allocation insights from JPMAM, according to a Tuesday statement by the bank.
Private Wealth Advantage offers a multi-asset class wealth offering with a range of investments and products, including managed accounts and managed funds, among other offerings, the bank said.
The bank's shares rose nearly 1% in recent Tuesday trade.
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