JPMorgan (JPM.US) Asset Management aims to double assets under management in Europe to 2 trillions USD within five years, betting on active ETFs and alternative investments.

According to Jinse Finance APP, JPMorgan Asset Management plans to double the scale of its European assets under management to $2 trillion within five years, betting on the growing demand for investment products among affluent and younger investors.

Patrick Thomson, CEO for Europe, the Middle East, and Africa at the company, stated that active exchange-traded funds (ETF), alternative investments, and cooperation with major wealth management institutions will drive this expansion.

Over the past nine years, JPMorgan increased its European asset scale from $500 billion to $1 trillion, benefiting from market growth and client capital inflows. Its European active ETF business has grown to $60 billion since its launch five years ago.

This expansion comes as, according to PwC forecasts, the European asset management industry is expected to grow at an annual rate of 5.6%, reaching nearly $50 trillion by 2030. As regulators seek to expand access to private markets, alternative assets such as private equity and private credit are expected to attract more investment.

Thomson identified European equities, bonds, and infrastructure as promising investment areas. He also noted that the financing needs for energy networks and other infrastructure projects are on the rise.

JPMorgan plans to rely on organic growth rather than major acquisitions and is supported by technological investment. Its asset management division spends about $600 million annually on technology worldwide and employs 1,400 engineers.

Despite widespread pessimism about the UK economy, Thomson remains optimistic about the country. He said that ahead of the government’s forthcoming budget announcement, stable policies to encourage economic growth will help improve the investment outlook in the UK.