# Product Snapshot - JPM Global Macro ESG Fund

> Audience: country=gb, language=en, role=adv.
> Generated: 2026-11-15T11:55:33.123160394Z.

## Identity

- **Fund Name**: JPM Global Macro ESG Fund
- **Share Class Name**: JPM Global Macro ESG Fund I - Net Accumulation
- **Product Page**: [Product Page](https://am.jpmorgan.com/gb/en/asset-management/adv/products/jpm-global-macro-esg-fund-i-net-accumulation-gb00b09rgm51)
- **ISIN**: GB00B09RGM51
- **Fund Type**: OEIC
- **Asset Class**: Balanced

## OVERVIEW

### Investment objective

The Fund aims to provide positive investment returns, before fees, over a rolling 3 year period in all market conditions by investing globally in a portfolio that is positioned towards securities with positive ESG characteristics, using derivatives where appropriate. A positive return is not guaranteed over this or any time period and a capital loss may occur.

 [Disclosure 1]

## Fund facts

- **Bloomberg**: JPCTRCA LN
- **Reuters**: GB00B09RGM51.LUF
- **ISIN**: GB00B09RGM51
- **SEDOL**: B09RGM5
- **Asset class**: Balanced
- **Region**: Global
- **Fund inception date**: 01/07/2005
- **Share class inception**: 01/07/2005
- **Share class currency**: GBP
- **ESG Approach**: Positive tilt [Disclosure 2]
- **UK SDR Categorisation**: UK SDR - Non-Labelled [Disclosure 3]

## Fund stats

- **Quoted price As of 13/11/2026**: 87.59p [Disclosure 4]
- **Price change As of 13/11/2026**: 0.00p
- **% daily price change As of 13/11/2026**: 0.00%
- **12 month high As of 06/10/2026**: 90.83p
- **12 month low As of 31/03/2026**: 84.19p
- **Yield As of 13/11/2026**: 0.98% [Disclosure 5]
- **Latest dividend value**: 0.20p
- **Xd date**: 02/11/2026
- **Income distribution frequency**: quarterly
- **Income distribution date**: 31/01, 30/04, 31/07, 31/10
- **Fund size As of 13/11/2026**: GBP 46.90 Mn

## Fees

### Fees

- **Initial charge**: 0.00%
- **Redemption charge**: 0.00%
- **Ongoing charge**: 0.60%


## Portfolio managers

### Josh Berelowitz

- **Biography**: [Biography](https://am.jpmorgan.com/gb/en/asset-management/adv/bios/josh-berelowitz/)
- **In the industry**: 15 YEARS
- **With J.P. Morgan**: 15 YEARS
- **Managing this fund**: 6 YEARS

### Jonathan Cummings

- **Biography**: [Biography](https://am.jpmorgan.com/gb/en/asset-management/adv/bios/jonathan-cummings/)
- **In the industry**: 21 YEARS
- **With J.P. Morgan**: 21 YEARS
- **Managing this fund**: 1 YEAR

### 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**: 1 YEAR

### Michal Plotkowiak

- **Biography**: [Biography](https://am.jpmorgan.com/gb/en/asset-management/adv/bios/michal-plotkowiak/)
- **In the industry**: 16 YEARS
- **With J.P. Morgan**: 4 YEARS
- **Managing this fund**: 2 YEARS

## Ratings

### Morningstar Medalist Rating™

- **Morningstar Medalist Rating™**: Bronze
- **As of **: 31/10/2026
- **Analyst-Driven %: **: 100
- **Data Coverage %: **: 100


## Performance

### Quarterly rolling 12 months

_As of  30/09/2026_

| Return | 2021/2022 | 2022/2023 | 2023/2024 | 2024/2025 | 2025/2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| JPM I - Net Acc - GBP | -6.64% | 2.44% | 3.37% | 3.40% | 6.26% |
| Benchmark | 0.73% | 4.12% | 5.38% | 4.60% | 3.91% |
| Excess return (geometric) | -7.32% | -1.61% | -1.90% | -1.15% | 2.27% |

### Calendar year

_As of  31/10/2026_

| Return | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | YTD |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| JPM I - Net Acc - GBP | -0.52% | 9.95% | -6.49% | 1.19% | 8.07% | 2.77% | -6.27% | 1.02% | 7.70% | 2.22% | 0.92% |
| Benchmark | 5.04% | 5.93% | -1.15% | 0.72% | 0.21% | 0.06% | 1.42% | 4.77% | 5.28% | 4.37% | 3.20% |
| Excess return (geometric) | -5.30% | 3.80% | -5.41% | 0.46% | 7.85% | 2.71% | -7.58% | -3.58% | 2.30% | -2.06% | -2.21% |

### Cumulative

_As of  31/10/2026_

| Return | 1 MONTH | 3 MONTHS | 1 YEAR | 3 YEARS | 5 YEARS | 10 YEARS |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| JPM I - Net Acc - GBP | -2.80% | -0.62% | 1.15% | 7.53% | 4.78% | 18.48% |
| Benchmark | 0.32% | 0.96% | 3.89% | 14.39% | 20.51% | 27.91% |
| Excess return (geometric) | -3.12% | -1.57% | -2.63% | -6.00% | -13.05% | -7.37% |

### Annualised

_As of  31/10/2026_

| Return | 3 YEARS | 5 YEARS | 10 YEARS |
| --- | ---: | ---: | ---: |
| JPM I - Net Acc - GBP | 2.45% | 0.94% | 1.71% |
| Benchmark | 4.58% | 3.80% | 2.49% |
| Excess return (geometric) | -2.04% | -2.76% | -0.76% |

 [Disclosure 6]

## Portfolio

### Current positioning

_As of 31/10/2026_

| Positioning | Current positioning |
| --- | ---: |
| Physical |
| Fixed Income | 61.7% |
| Equity | 17.7% |
| Cash/cash for margin | 17.2% |
| Gold | 3.4% |
| Derivatives |
| Equity futures | 10.3% |
| Equity options | -4.9% |
| Bond futures | -61.8% |
| Interest rate swap | 29.7% |
 [Disclosure 7]

### Risk breakdown - Theme risk

_As of 31/10/2026_

| Theme risk | Risk breakdown - Theme risk |
| --- | ---: |
| Quant | 26.0% |
| Widespread technology adoption | 21.0% |
| US | 16.7% |
| Europe | 10.3% |
| Asia Pac ex China | 7.6% |
| China | 7.0% |
| EM opportunistic | 3.9% |
| Climate change response | 3.6% |
| Healthcare innovation | 2.3% |
| EM consumer demand | 1.6% |
| Total | 100.0% |
 [Disclosure 7]

### Risk breakdown - Regional risk

_As of 31/10/2026_

| Region | Risk breakdown - Regional risk |
| --- | ---: |
| North America | 28.3% |
| UK | 18.4% |
| Europe ex-UK | 18.3% |
| Asia Pac ex-Japan | 15.6% |
| Japan | 12.8% |
| Emerging markets | 6.6% |
| Total | 100.0% |
 [Disclosure 7]

### Risk breakdown - Asset class risk

_As of 31/10/2026_

| Asset class | Risk breakdown - Asset class risk |
| --- | ---: |
| Equity | 61.5% |
| Fixed income | 15.4% |
| Currency | 11.1% |
| Commodities | 8.9% |
| Advanced derivatives | 3.1% |
| Total | 100.0% |
 [Disclosure 7]

### Portfolio characteristics

_As of 31/10/2026_

| Portfolio characteristics | Portfolio characteristics |
| --- | ---: |
| Fund volatility | 6.3% |
| Net equity exposure | 22.9% |
| Duration | -2.9 years |


## Documents

- [Factsheet](https://jp.techrules.com/rebrandingPDF/LoadPdf.aspx?ShareClassId=6344&country=GB&lang=EN&paramMIFID=YES)
- [JPM Global Macro ESG Fund - Commentary (C Acc share class)](https://am.jpmorgan.com/content/dam/jpm-am-aem/emea/gb/en/literature/commentary/cm-global-macro-esg-fund.pdf)
- [Assessment of Value Annual Report](https://am.jpmorgan.com/content/dam/jpm-am-aem/emea/gb/en/regulatory/investor-disclosure-document/Assessment-of-Value-Annual-Report.pdf)
- [JPM Global Macro ESG Fund I - Net Accumulation - KIID](https://www.fundslibrary.co.uk/fundslibrary.dataretrieval/documents.aspx?id=ed2346bc-1cc8-4b6a-82c7-90dcdc49d6fd&user=jpmam&type=fund_unit_kiid)
- [JPMorgan Fund ICVC - Prospectus](https://am.jpmorgan.com/content/dam/jpm-am-aem/emea/gb/en/regulatory/prospectus/jpmorgan-fund-icvc-prospectus.pdf)
- [JPMorgan Fund ICVC - Annual Report & Accounts](https://am.jpmorgan.com/content/dam/jpm-am-aem/emea/gb/en/regulatory/annual-report/jpmorgan-fund-icvc-annual-report-accounts.pdf)
- [JPMorgan Fund ICVC - Interim Report & Accounts](https://am.jpmorgan.com/content/dam/jpm-am-aem/emea/gb/en/regulatory/semi-annual-report/jpmorgan-fund-icvc-interim-report-accounts.pdf)
- [Engagement Statistics Report - Semi-Annual](https://am.jpmorgan.com/content/dam/jpm-am-aem/emea/regional/en/regulatory/esg-information/jpmorgan-funds-global-macro-esg-fund-esr-report.pdf)
- [ ESG Fund Report](https://am.jpmorgan.com/content/dam/jpm-am-aem/emea/regional/en/regulatory/esg-information/jpm-global-macro-esg-fund-esg-fund-report.pdf)
- [JPM Global Macro ESG Fund - Exclusion Policy](https://am.jpmorgan.com/content/dam/jpm-am-aem/emea/regional/en/policies/exclusion-policy/jpm-global-macro-esg-exclusion-policy.pdf)
- [UK TCFD Product Report](https://am.jpmorgan.com/content/dam/jpm-am-aem/emea/regional/en/regulatory/esg-information/jpm-global-macro-esg-fund-tcfd-report.pdf)
- [UK SDR Periodic Report](https://am.jpmorgan.com/content/dam/jpm-am-aem/emea/regional/en/policies/exclusion-policy/jpm-global-macro-esg-fund-uk-sdr-periodic-report-ce-en.pdf)
- [UK SDR Consumer Facing Disclosure](https://am.jpmorgan.com/content/dam/jpm-am-aem/emea/regional/en/policies/exclusion-policy/jpm-global-macro-esg-fund-cfd-ce-en.pdf)

## Disclosures

1. On 31/10/18 the investment objective of the Fund was changed. On 29/04/22 the investment objective of the Fund was changed.

2. An investment style in which the portfolio will be tilted towards companies / issuers with positive ESG characteristics.

3. The Financial Conduct Authority’s Sustainability Disclosure Requirements (“UK SDR”) is a set of regulatory rules that requires enhanced sustainability disclosures for funds using sustainability-related terms in their name or marketing materials. It also introduces four discretionary sustainable investment labels for products and associated qualifying criteria that the fund must meet to achieve a label. Sustainable investment labels help investors find investment products that have a specific sustainability goal. This Fund does not have a UK sustainable investment label. Among other, the qualifying criteria for a label requires the Fund to have a sustainability objective. This Fund does not have a sustainability objective but instead has a financial objective, which it seeks to achieve by investing in companies with positive or improving ESG characteristics, as defined by the Investment Manager. This Fund invests in companies with positive ESG characteristics or companies that demonstrate improving ESG characteristics. It does not seek a specific or set of sustainability outcome(s), such as pursuing climate change mitigation or transition, in addition to its financial objective. Consequently the Fund does not currently have a UK sustainable investment label under UK SDR but may pursue one in future.

4. The single price at which all client orders are executed.

5. The Yield reflects the gross amount that may be distributed over the next 12 months as a percentage of the quoted price at the date shown. It is calculated from current market information and is provided to shareholders as an estimate but should not be taken as a guaranteed yield. The Yield calculation does not include the impact of any Entry charge that may be paid or that investors may be subject to tax on income distributions. Where a portion of the fund's expenses are charged to capital this has the effect of increasing the distribution for the year and constraining the fund's capital performance to an equivalent extent.

6. 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 shown is based on the quoted price of the share class, assumes any net income was reinvested, and includes ongoing charges but not any entry or exit fees. Prior to 01/12/21 the benchmark was ICE 1 month GBP LIBOR. Prior to 31/10/18 the benchmark was 70% J.P. Morgan GBI Global Hedged to GBP, 30% MSCI World Index (Net) Hedged to GBP. Prior to 29/07/13 the benchmark was BBA 1 Month GBP LIBOR. Benchmark source: The customised benchmark was created by J.P. Morgan Asset Management. Information has been obtained from sources believed to be reliable but J.P. Morgan does not warrant its completeness or accuracy. The Index is used with permission. The Index may not be copied, used, or distributed without J.P. Morgan?s prior written approval. Copyright 2025, J.P. Morgan Chase & Co. All rights reserved. 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 Benchmark is a performance comparator however the Fund will be managed without reference to its Benchmark. The Benchmark has been chosen as it reflects the investment strategy for the Fund. The renaming of JPM Global Macro Sustainable to JPM Global Macro ESG, effective 03 2025, is in response to the UK Sustainability Disclosure Requirements (SDR). Indices do not include fees or operating expenses and you cannot invest in them.

7. Figures shown may not add up to 100 due to rounding.