# Product Snapshot - JPMorgan Funds - Climate Change Solutions Fund

> Audience: country=gb, language=en, role=adv.
> Generated: 2026-11-15T20:35:24.012921407Z.

## Identity

- **Fund Name**: JPMorgan Funds - Climate Change Solutions Fund
- **Share Class Name**: JPM Climate Change Solutions A (acc) - USD
- **Product Page**: [Product Page](https://am.jpmorgan.com/gb/en/asset-management/adv/products/jpm-climate-change-solutions-a-acc-usd-lu2394011477)
- **ISIN**: LU2394011477
- **Fund Type**: SICAV
- **Asset Class**: Equity

## OVERVIEW

### Investment objective

To achieve a return through investing in companies with exposure to the theme of climate change solutions.



### Registered countries

- **Austria**: 08/12/2021
- **Belgium**: 07/12/2021
- **Cyprus**: 07/12/2021
- **Czech Republic**: 07/12/2021
- **Denmark**: 07/12/2021
- **Finland**: 22/12/2021
- **France**: 07/12/2021
- **Germany**: 07/12/2021
- **Greece**: 07/12/2021
- **Hungary**: 07/12/2021
- **Ireland**: 07/12/2021
- **Italy**: 01/01/2022
- **Jersey**: 24/11/2021
- **Liechtenstein**: 07/12/2021
- **Luxembourg**: 24/11/2021
- **Netherlands**: 22/12/2021
- **Norway**: 07/12/2021
- **Portugal**: 07/03/2022
- **Singapore**: 17/02/2022
- **Slovakia**: 08/12/2021
- **Spain**: 07/12/2021
- **Sweden**: 07/12/2021
- **Switzerland**: 08/12/2021
- **Taiwan**: 19/02/2024
- **United Kingdom**: 21/12/2021


## Fund facts

- **Bloomberg**: JPCSAUA LX
- **Reuters**: LU2394011477.LUF
- **ISIN**: LU2394011477
- **SEDOL**: BPLHPF4
- **Asset class**: Equity
- **Region**: Global
- **Fund inception date**: 14/12/2021
- **Share class inception**: 14/12/2021
- **Fund currency**: USD
- **Share class currency**: USD
- **ESG Approach**: Thematic [Disclosure 1]
- **SFDR Classification**: Article 9 [Disclosure 2]

## Fund stats

- **NAV  As of 13/11/2026**: USD 125.11 [Disclosure 3]
- **NAV change As of 13/11/2026**: USD -0.72
- **NAV change (%) As of 13/11/2026**: -0.57%
- **12 Month NAV high As of 22/06/2026**: USD 133.74
- **12 Month NAV low As of 21/11/2025**: USD 104.28
- **Fund size As of 13/11/2026**: USD 305.93 Mn

## Fees

### Fees

- **Initial charge**: 5.00%
- **Redemption charge**: 0.00%
- **Ongoing charge**: 1.30%
  - **Annual management fee (included in ongoing charge)**: 1.00%
  - **Operating & administrative expenses (included in ongoing charge)**: 0.30%


## Portfolio managers

### Jack Featherby

- **Biography**: [Biography](https://am.jpmorgan.com/gb/en/asset-management/adv/bios/jack-featherby/)
- **In the industry**: 12 YEARS
- **With J.P. Morgan**: 8 YEARS
- **Managing this fund**: 2 YEARS

### Yazann Romahi

- **Biography**: [Biography](https://am.jpmorgan.com/gb/en/asset-management/adv/bios/yazann-romahi/)
- **In the industry**: 27 YEARS
- **With J.P. Morgan**: 23 YEARS
- **Managing this fund**: 4 YEARS

### Fred Barasi

- **Biography**: [Biography](https://am.jpmorgan.com/gb/en/asset-management/adv/bios/fred-barasi/)
- **In the industry**: 25 YEARS
- **With J.P. Morgan**: 9 YEARS
- **Managing this fund**: 2 YEARS

## Ratings

### Morningstar Summary Rating

- **As of **: 31/10/2026
- **Overall**: 5 of 5 stars


## Performance

### Quarterly rolling 12 months

_As of  30/09/2026_

| Return | 2021/2022 | 2022/2023 | 2023/2024 | 2024/2025 | 2025/2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| JPM A (acc) - USD | - | 12.46% | 34.82% | 2.94% | 17.99% |
| Benchmark | - | 20.80% | 31.76% | 17.27% | 16.75% |
| Excess return (geometric) | - | -6.91% | 2.32% | -12.22% | 1.06% |

### Calendar year

_As of  31/10/2026_

| Return | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | YTD |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| JPM A (acc) - USD | - | - | - | - | - | - | -21.73% | 9.49% | 7.93% | 19.27% | 13.57% |
| Benchmark | - | - | - | - | - | - | -18.36% | 22.20% | 17.49% | 22.34% | 11.18% |
| Excess return (geometric) | - | - | - | - | - | - | -4.13% | -10.40% | -8.14% | -2.51% | 2.15% |

### Cumulative

_As of  31/10/2026_

| Return | 1 MONTH | 3 MONTHS | 1 YEAR | 3 YEARS | 5 YEARS | SINCE INCEPTION |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| JPM A (acc) - USD | -0.28% | -3.04% | 13.80% | 77.17% | - | 24.85% |
| Benchmark | -1.64% | -0.14% | 12.33% | 82.93% | - | 63.88% |
| Excess return (geometric) | 1.38% | -2.91% | 1.31% | -3.15% | - | -23.81% |

### Annualised

_As of  31/10/2026_

| Return | 3 YEARS | 5 YEARS | SINCE INCEPTION |
| --- | ---: | ---: | ---: |
| JPM A (acc) - USD | 21.00% | - | 4.65% |
| Benchmark | 22.30% | - | 10.65% |
| Excess return (geometric) | -1.06% | - | -5.42% |

 [Disclosure 4]

## Portfolio

### Top holdings

_As of 30/09/2026_

| Name | Sector | Weight |
| --- | ---: | ---: |
| Trane Technologies | Industrials | 3.7% |
| Iberdrola | Utilities | 3.5% |
| Nextera Energy | Utilities | 3.3% |
| TSMC | Information Technology | 3.2% |
| Crown | Materials | 2.9% |
| Valmont Industries | Industrials | 2.7% |
| Hitachi | Industrials | 2.6% |
| Wabtec | Industrials | 2.6% |
| Brambles | Industrials | 2.5% |
| Atlas Copco | Industrials | 2.4% |


### Sector breakdown

_As of 31/10/2026_

| Sector | Sector breakdown |
| --- | ---: |
| Industrials | 49.0% |
| Information Technology | 20.0% |
| Utilities | 14.7% |
| Materials | 10.9% |
| Consumer Discretionary | 3.7% |
| Financials | 1.6% |
| Cash | 0.1% |
| Total | 100.0% |


### Regional breakdown

_As of 31/10/2026_

| Region | Regional breakdown |
| --- | ---: |
| North America | 55.9% |
| Europe & Middle East ex UK | 21.0% |
| Emerging Markets | 11.0% |
| Japan | 5.6% |
| Pacific ex-Japan | 4.3% |
| United Kingdom | 2.1% |
| Cash | 0.1% |
| Total | 100.0% |


## COMMENTARY

**As of **: 30/09/2026

### Month in review

The underlying strategy underperformed its benchmark, the MSCI All Country World Index, in Q3.

An overweight position in Hitachi, a diversified industrial conglomerate leveraging AI and digital solutions across energy, mobility and infrastructure, contributed to performance during the period. The stock outperformed due to exceptional energy business growth driven by strong demand for power transmission equipment, record adjusted EBITDA margins, successful expansion of AI-powered Lumada solutions accounting for over 40% of revenue and management's confidence in further earnings upside from productivity improvements and strategic acquisitions.

Not holding Tesla, a manufacturer of electric vehicles and energy storage systems, contributed to performance during the period. The stock underperformed due to significant margin pressure from raw material headwinds and regulatory credit reductions, coupled with weakened demand in major markets including a 29% decline in US sales and 21% drop in China domestic retail deliveries, while management's cautious guidance on robotaxi and humanoid robot scaling timelines disappointed investors.

Not holding Microsoft, a global software and cloud-computing company, detracted from performance during the period. The shares rose strongly after the company reported accelerating Azure growth and continued adoption of Microsoft 365 Copilot. These results provided clearer evidence that Microsoft’s substantial investment in AI infrastructure is translating into commercial demand and revenue growth.

Not holding Apple, a technology company that designs and sells iPhones, Macs and services, detracted from performance during the period. The stock outperformed due to strong iPhone and Mac revenue growth driven by robust demand for new products, record installed base expansion and market share gains, though these were offset by near-term headwinds from supply constraints and memory cost inflation.

### Looking ahead

We expect the companies held in the portfolio to benefit from the significant investment needed to decarbonise global energy supplies and address the challenge of climate change.

With energy independence a growing focus of governments worldwide, there is a significant implication for policies and subsidies to support large-scale investment into climate change solutions.

Accelerated timelines come on top of growing efforts of companies and consumers worldwide to target a carbon-neutral environment by 2050.

Capital being deployed by companies in the solutions space continues to grow as technology becomes more widely adopted and the pace of innovation increases. We expect the overall cost of many of these solutions to diminish as the economies of scale are felt more widely, leading to more and more adoption around the world.

## Documents

- [Factsheet](https://jp.techrules.com/rebrandingPDF/LoadPdf.aspx?ShareClassId=14739&country=GB&lang=EN&paramMIFID=YES)
- [JPMorgan Funds - Climate Change Solutions Fund - Commentary (A Acc share class)](https://am.jpmorgan.com/content/dam/jpm-am-aem/emea/regional/en/literature/commentary/jpm-climate-change-solutions-fund-commentary-ce-en.pdf)
- [Key Investor Information Document](https://wl.fundsquare.net/serv/down-doc/request?cdClient=jpmorgan&isin=LU2394011477&docTypeCode=KIID&docLang=EN&docCountry=GB)
- [JPMorgan Funds - Prospectus](https://am.jpmorgan.com/content/dam/jpm-am-aem/emea/regional/en/regulatory/prospectus/jpmorgan-funds-prospectus-ce-en.pdf)
- [JPMorgan Funds - Annual Report](https://am.jpmorgan.com/content/dam/jpm-am-aem/emea/regional/en/regulatory/annual-report/jpmorgan-funds-annual-report-ce-en.pdf)
- [JPMorgan Funds - Semi-Annual Report ](https://am.jpmorgan.com/content/dam/jpm-am-aem/emea/regional/en/regulatory/semi-annual-report/jpmorgan-funds-semi-annual-report-ce-en.pdf)

## Disclosures

1. Investments in themes or assets specifically related to sustainability.

2. "Article 8” strategies promote social and/or environmental characteristics, but do not have sustainable investing as a core objective. “Article 9” strategies have a sustainable investment objective.

3. Net Asset Value of a fund’s assets less its liabilities per Share.

4. Past performance is not a guide to current and future performance. The value of your investments and any income from them may fall as well as rise and you may not get back the full amount you invested. Source: J.P. Morgan Asset Management. Share class performance is shown based on the NAV (net asset value) of the share class with income (gross) reinvested including actual ongoing charges excluding any entry and exit fees. Benchmark Source: MSCI. Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any of such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved, in or related to compiling, computing, or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI's express written consent. The return of your investment may change as a result of currency fluctuations if your investment is made in a currency other than that used in the past performance calculation. Indices do not include fees or operating expenses and you cannot invest in them. The benchmark is for comparative purposes only unless specifically referenced in the Sub-Funds' Investment Objective and Policy.