JPMORGAN ELECT MANAGED INCOME

Investments should be played to your advantage

JPMorgan Elect Managed Income aims to provide a growing income with the potential for capital growth from a portfolio of UK equities.

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About this trust

Investment objective and policies

Aims to provide a growing income return with potential for long term capital growth by investing in equities, investment companies and fixed income securities.

Key attributes

Aims to deliver a growing income plus capital growth over the long term.
Flexibility to move between equities and bonds to achieve the most attractive risk-adjusted yield throughout the market cycle.
Benefits from J.P. Morgan's extensive expertise in both equity and fixed income markets.
Part of JPMorgan Elect - a unique investment trust structure with three investment options and a tax-free switching facility.

Risk warnings

The value of investments and the income from them can go down and up, and you may not get back as much as you paid in. Past performance is not a guide to the future.
For further risks associated with this trust please refer to the 'Risks' section below.

Risks

Points to Consider

Exchange rate changes may cause the value of underlying overseas investments to go down as well as up.
This trust may invest in non investment grade bonds, which increases the capital risk and may have an adverse effect on the performance of funds which invest in them.
Where permitted, a trust may invest in other investment trusts that utilise gearing (borrowing) which will exaggerate market movements both up and down.
For income funds/shares - Dividend income is not guaranteed and will fluctuate.
Investing in high yielding stocks may involve a higher degree of risk as high yields are not guaranteed and will fluctuate.
This fund may use derivatives for investment purposes or for efficient portfolio management.
External factors may cause an entire asset class to decline in value. Prices and values of all shares or all bonds could decline at the same time.
This trust may also invest in smaller companies which may increase its risk profile.

Three investment choices with JPMorgan Elect plc

Share classes available through the JPMorgan Elect Managed Investment Trust are Cash, Growth and Income. You can convert from one to the other four times a year without incurring a liability to capital gains tax. These dates are in February, May, August and November, but instructions to convert have to be received before these dates.

More about conversion timings

Performance

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Fees

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Portfolio

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Manager Commentary

Fund Managers

John Baker
Fund Manager
Katen Patel
Fund Manager

In their words (as of 30 Jun 2018)

The trust underperformed the benchmark during June. Detractors included stock selection in household goods & home construction and in travel & leisure. Contributors included stock selection in banks and in pharmaceuticals & biotechnology. At the stock level, an underweight position in the UK-listed home domestic products manufacturer Reckitt Benckiser was negative for relative returns in the period. Despite the company releasing weaker-than-expected results earlier in the quarter, the share price rose as the market sought out perceived defensive stocks due to growing concerns over global growth as trade war posturing continued. On the other hand, a contributor to relative performance was an underweight holding in AstraZeneca. The stock trades on an expensive valuation and suffered from an absence of positive pipeline newsflow during the period.

Documents

Trust Information

Committee Terms Of Reference

Annual General Meeting and General / Class Meeting

Regulatory Documents

Before investing, please ensure you have read the below documents.

Reports and Accounts

How to buy this trust

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Important information

This is a marketing communication and as such the views contained herein are not to be taken as an advice or recommendation to buy or sell any investment or interest thereto. Reliance upon information in this material is at the sole discretion of the reader. Any research in this document has been obtained and may have been acted upon by J.P. Morgan Asset Management for its own purpose. The results of such research are being made available as additional information and do not necessarily reflect the views of J.P. Morgan Asset Management. Any forecasts, figures, opinions, statements of financial market trends or investment techniques and strategies expressed are unless otherwise stated, J.P. Morgan Asset Management’s own at the date of this document. They are considered to be reliable at the time of writing, may not necessarily be all inclusive and are not guaranteed as to accuracy. They may be subject to change without reference or notification to you. It should be noted that the value of investments and the income from them may fluctuate in accordance with market conditions and taxation agreements and investors may not get back the full amount invested. Changes in exchange rates may have an adverse effect on the value, price or income of the products or underlying overseas investments. Past performance and yield are not reliable indicators of current and future results. There is no guarantee that any forecast made will come to pass. Furthermore, whilst it is the intention to achieve the investment objective of the investment products, there can be no assurance that those objectives will be met. J.P. Morgan Asset Management is the brand name for the asset management business of JPMorgan Chase & Co. and its affiliates worldwide. To the extent permitted by applicable law, we may record telephone calls and monitor electronic communications to comply with our legal and regulatory obligations and internal policies. Personal data will be collected, stored and processed by J.P. Morgan Asset Management in accordance with our EMEA Privacy Policy www.jpmorgan.com/emea-privacy-policy.

Investment is subject to documentation. The Investor Disclosure Document, and Key Features / Terms & Conditions can be obtained free of charge from JPMorgan Asset Management (UK) Limited, and the Key Information Document can be obtained from JPMorgan Funds Limited or www.jpmam.co.uk/investmenttrust. This communication is issued by JPMorgan Asset Management (UK) Limited, which is authorised and regulated in the UK by the Financial Conduct Authority. Registered in England No: 01161446. Registered address: 25 Bank Street, Canary Wharf, London E14 5JP.

FE Crown rating as at 01 August 2018