Mapping out an income journey as the winds change
We share our ideas on how to navigate an income journey as market conditions change.
Important Information
Below shows the Important Information of JPMorgan China A-Share Opportunities Fund, JPMorgan China Pioneer A-Share Fund, JPMorgan Funds – China Fund, JPMorgan Funds – Greater China Fund, JPMorgan China Income Fund, JPMorgan Funds – China Bond Opportunities Fund, please press the down arrow button next to respective fund name to view full details.
JPMORGAN CHINA A-SHARE OPPORTUNITIES FUND
JPMORGAN CHINA PIONEER A-SHARE FUND
JPMORGAN FUNDS - CHINA FUND
JPMORGAN FUNDS - GREATER CHINA FUND
JPMORGAN CHINA INCOME FUND
JPMORGAN FUNDS – CHINA BOND OPPORTUNITIES FUND
Our China multi-asset and fixed income solutions invest flexibly to capture yield opportunities onshore and offshore.
Our China and Greater China equity solutions focus on Greater China stocks to drive quality return potential.
Drawing on a century of experience to go from strength to strength in China
J.P. Morgan has a legacy in China’s financial services industry. Our history in China began in 1921, with the opening of an office by one of our predecessor firms in Shanghai. That laid the foundation of a century of investments, insights and on-the-ground research.
J.P. Morgan Asset Management has established unrivalled investment capabilities for both equities and fixed income. Equity strategies are formulated through disciplined fundamental research coupled with bottom-up selection, whereas fixed income selection benefits from a structured framework to incorporate a global view, market analysis and fundamental research.
Past performance is not indicative of future performance. The ranking is for J.P. Morgan. J.P. Morgan Asset Management is the asset management division of JPMorgan Chase & Co.
^ Source: Z-Ben Advisors “2021 China Rankings” (April 2021).
* Source: Broadridge China Navigator, as of April 2021.
Greater China Team, Emerging Markets & Asia Pacific (EMAP) Equities
Asian Fixed Income Team, Global Fixed Income, Currency & Commodities (GFICC)
Located in Hong Kong, Shanghai and Taipei
Cultivating collaborative partnerships with local experts in China through the sharing of knowledge and insights
AUM: assets under management. Source: J.P. Morgan Asset Management, as of end-March 2021. Includes portfolio managers, research analysts, traders and investment specialists with VP title and above. There can be no assurance that the professionals currently employed by J.P. Morgan Asset Management (JPMAM) will continue to be employed by JPMAM or that the past performance or success of any such professional serves as an indicator of such professional's future performance or success.
Technology in everyday life
Technological development is broadening in China with artificial intelligence and cloud computing becoming a part of everyday life. Amid geopolitical uncertainty and facing a decoupling risk with the US, China’s tech industry is embracing an inward economic pivot, looking to reduce its reliance on imported software and hardware.
Rising healthcare demand
The global health crisis has increased demand for healthcare services and products, including healthcare infrastructure, preventive treatment and vaccine development. China’s healthcare industry covers a considerable number of sectors, and spending on such services could continue to grow.
Consumption upgrades
As household income increases and the standard of living improves in China, its middle class is increasingly focused on lifestyle upgrades in both daily necessities and entertainment. Alongside supportive domestic policies, consumption is expected to become a key driver of economic growth.
Compelling dividend opportunities
With yields across the curve under pressure in an environment of low or even zero interest rates, it has become more challenging for global investors to find income. In terms of dividend level, China H-Shares look more attractive than those in other markets, offering greater income potential. Within China, sectors including financials, industrials, renewable energy and materials exhibit higher yield and robust earnings growth, offering a potential income foundation.
Dividend level across different regions
Source: FactSet, J.P. Morgan Asset Management, as of end-March 2021. Indices used: MSCI World Index (Developed Markets), MSCI Emerging Markets Index (Emerging Markets), MSCI Europe Index (Europe), MSCI Asia Pacific ex-Japan Index (APxJ), MSCI China H Index (China H-Shares). Yield is not guaranteed. Positive yield does not imply positive return.
Bond yield potential looking appealing
China bonds also offer vast income potential. With developed market government bonds at low or negative levels, China bonds denominated in USD (credit) and CNY (government) may offer yield opportunities more appealing to foreign investors.
Government bond yields across different regions
Source: Bloomberg, J.P. Morgan Asset Management, data of J.P. Morgan Government Bond Index and J.P. Morgan Asia Diversified Index as of end-February 2021. Yield is not guaranteed. Positive yield does not imply positive return.
Yield to Maturity of Asian USD credit
Source: J.P. Morgan, data of J.P. Morgan Asia Credit Index as of 28.02.2021. Yield is not guaranteed. Positive yield does not imply positive return.
Potential diversification benefits
Different segments of China bonds come with distinct characteristics. The onshore market is an enormous segment not to be overlooked, but is skewed to government and government-related issuers. Relatively small in size, offshore bond markets have seen issuers of higher quality in general. When compared with those in Emerging Markets, onshore China bonds exhibit a lower correlation with global aggregate and developed market bonds, while offering relatively attractive risk-adjusted returns.
Relatively low correlation between China and global aggregate bonds
Source: J.P. Morgan Asset Management, Bloomberg, USD return, data from January 2005 to end-February 2021. Indices used: J.P. Morgan Government Bond Index (developed markets shown), J.P. Morgan Government Bond Index – Emerging Market Broad Diversified Index (emerging markets shown, excluding Asia), J.P. Morgan Asia Diversified Index (Asian emerging markets shown, including China onshore) , S&P 500 Index (US equities), CSI 300 Index (China A-Shares), Bloomberg Barclays Global Aggregate Index (Global Aggregate Bonds). Past performance is not indicative of future performance. Investors should note that different asset classes have varying risk/return profiles.
Casting far and wide to capture the growth and income advantages onshore and offshore
Please click fund details for more information, including important information
EQUITIES
Award-winning strategies
Past performance is not indicative of future performance.
+ Issued by Lipper of Refinitiv, 2021 awards. Equity China awarded to JPM China A (dist) – USD and Equity Greater China awarded to JPM Greater China A (dist) – USD, reflecting performance as of 31.12.2020. Refinitiv Lipper Fund Awards, © 2021 Refinitiv. All rights reserved. Used by permission and protected by the Copyright Laws of the United States. The printing, copying, redistribution, or retransmission of this content without express written permission is prohibited.* Morningstar Awards 2021 ©. Morningstar, Inc. All Rights Reserved. Awarded to USD (acc) Class based on the fund’s category-relative performance and risk within the Morningstar EAA Fund Greater China Equity Category over 1 year, 3 years and 5 years to 31 December 2020.
Diversification does not guarantee investment returns and does not eliminate the risk of loss. Indices do not include fees or operating expenses and are not available for actual investment. Forecasts, projections and other forward looking statements are based upon current beliefs and expectations. They are for illustrative purposes only and serve as an indication of what may occur. Given the inherent uncertainties and risks associated with forecast, projections or other forward statements, actual events, results or performance may differ materially from those reflected or contemplated. For illustrative purposes only based on current market conditions, subject to change from time to time. Not all investments are suitable for all investors. Exact allocation of portfolio depends on each individual’s circumstances and market conditions.