Particle.news

Download on the App Store

JPMorgan Asset Management Commits Up to $500 Million to Numerai

The reserved capacity will be deployed over the next year following a 2024 rebound that drew institutional confidence.

Overview

  • Numerai said JPMorgan Asset Management secured up to $500 million in capacity, a sum that would more than double the fund’s roughly $450 million in assets under management.
  • Numeraire (NMR) spiked on the news with reports of single‑day gains from about 40% to roughly 142% intraday before retracing, alongside surging trading volumes.
  • The commitment follows Numerai’s 2024 net return of about 25% and a multi‑month run of gains after a 2023 drawdown.
  • Numerai’s model crowdsources signals from global data scientists who stake NMR to back their predictions, aligning rewards and penalties with model performance.
  • The firm has begun scaling operations with a $1 million NMR repurchase and new hires from Meta and Voleon, while reporting noted JPMorgan had not commented directly on the deal.