JP Morgan Asset Management, the UK-based investment arm of JPMorgan Chase, has confirmed that it is investigating plans to launch a wrap platform. The wrap is likely to focus on the wealth management sector but the proposal is at an early stage with no product development yet done, according to Money Marketing. Recent entrants into the wrap market include Axa and Parmenion, while Friends Provident has announced plans to launch its own platform in the future. Recent Lipper Feri research revealed that assets on platforms are now growing at a rate of 44 per cent a year and could reach a total of £205 billion by 2012.