JPMorgan Asset Management plans to add 10 wholesalers before the year is through, according to a published report. JPMorgan currently counts 120 wholesalers.

Meanwhile, JPMorgan is spending an estimated $1.5 million on an ad campaign slated to launch on September 8, InvestmentNews reported. This will be the asset manager's first major ad campaign in the US.

Called "We Believe," the campaign is "driven by the momentum in the retail mutual fund business," Richard Chambers, head of marketing and strategy at JPMorgan Asset Management, was quoted in the report as saying.

Seventy percent of the campaign will be done over the Web and the rest in print publications, the report stated. 

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