JPMorgan China Income Fund

1. The Fund invests at least 70% in (a) equity securities of companies which are based in, listed on any stock exchange of, or operate principally in the People's Republic of China ("PRC") and that the Investment Manager expects to pay dividends and (b) Chinese debt securities issued and/or distributed in or outside the PRC. 
2. The Fund is therefore exposed to risks related to debt securities, emerging markets, liquidity, PRC tax, equity, valuation, credit, dynamic asset allocation strategy, investment grade bond, below investment grade/unrated investment, "Dim Sum" bond, class currency and currency hedged classes. The Fund has exposure to PRC securities (including PRC exchange traded stock index futures) via the Shanghai-Hong Kong Stock Connect and/or Shenzhen-Hong Kong Stock Connect (collectively, the "China Connect"), Qualified Foreign Institutional Investor ("QFII") quota, China interbank bond market ("CIBM") Initiative and/or Bond Connect. Investors will be subject to the associated QFII, China market, PRC exchange traded stock index futures, PRC brokerage, RMB currency, China Connect, investments in stocks listed on the Small and Medium Enterprise Board and/or the ChiNext Board of the Shenzhen Stock Exchange, CIBM and diversification risks. RMB is currently not freely convertible and RMB convertibility from offshore RMB (CNH) to onshore RMB (CNY) is a managed currency process subject to foreign exchange control policies of and restrictions imposed by the Chinese government. There can be no assurance that RMB will not be subject to devaluation at some point.
3. Where the income generated by the Fund is insufficient to pay a distribution as the Fund declares, the Manager may at its discretion determine such distributions may be paid from capital including realised and unrealised capital gains. Investors should note that the payment of distributions out of capital represents a return or withdrawal of part of the amount they originally invested or from any capital gains attributable to that original investment. Any payments of distributions by the Fund may result in an immediate decrease in the net asset value per unit.
4. Investors may be subject to substantial losses.
5. Investors should not solely rely on this document to make any investment decision.