<p>Capacity management</p>

In order to protect the interests of investors, J.P. Morgan Asset Management (Europe) may find it necessary to limit the size to which a fund is allowed to grow. This might arise for example, when the investment manager is of the view that allowing further inflows into the fund might have a significant impact on fund performance.

Generally speaking, such a situation is more likely to arise with funds following a highly specialist investment objective and with a concentrated investment portfolio – however other reasons may also give rise to capacity limits in a fund.

Set out below is a summary of the current position of all J.P. Morgan Asset Management Funds, which are closed.

If you are a private investor and you require investment advice, please contact your professional financial advisor.

*A daily dealing limit of EUR 3,000,000 (or equivalent currency value) has been applied to this sub-fund.