NEW YORK -- J.P. Morgan & Co., is adding money-market mutual fund capabilities to Morcom, its electronic corporate cash-management service.
The new service, dubbed Morcom Cash, will enable cash managers to handle a wide range of money-market mutual fund transactions without assistance, said Evelyn E. Guernsey, managing director of Morgan's U.S. funds management business.
"Rather than calling customer service or a banker to make an investment in the fund, they can do it electronically in their office," Ms. Guernsey said. Clients will also be able to check balances and transfer assets.
She said the service is geared toward Morcom users, a group that currently includes a wide range of clients, including Fortune 500 companies, family offices, and law firms.
Morgan has three money-market funds in its $5 billion-asset U.S. mutual fund family.
