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  3. JPMorgan Funds – Income Fund

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Important information
JPMorgan Funds - Income Fund
  1. The Fund invests primarily in a portfolio of debt securities.
  2. The Fund is therefore exposed to emerging markets, investment grade bonds, credit, sovereign, interest rate risks which may affect the price of bonds, concentration, convertibles, equity, currency, liquidity, derivative and distribution (no assurance on distribution or the frequency of distribution or distribution rate or dividend yield) risks. Pertaining to investments in below investment grade or unrated debt securities, these securities may be subject to higher liquidity risks and credit risks comparing with investment grade bonds, with an increased risk of loss of investment. Investments in asset backed securities and mortgage backed securities may be subject to greater credit, liquidity and interest rate risks compared to other debt securities such as government issued bonds and are often exposed to extension and prepayment risks.
  3. The Fund may at its discretion pay dividends out of capital. The Fund may also at its discretion pay dividends out of gross income while charging all or part of the Fund’s fees and expenses to the capital of the Fund, resulting in an increase in distributable amount for the payment of dividends and therefore, effectively paying dividends out of realised, unrealised capital gains or capital. Investors should note that, share classes of the Fund which pay dividends may distribute not only investment income, but also realised and unrealised capital gains or capital. Payment of dividends out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment. Any dividend payments, irrespective of whether such payment is made up or effectively made up out of income, realised and unrealised capital gains or capital, may result in an immediate reduction of the net asset value per share.
  4. Investors may be subject to substantial losses.
  5. Investors should not solely rely on this document to make any investment decision.

A BROAD-BASED STRATEGY EXPANDS INCOME POTENTIAL

FUND DETAILS

income-fund

Which is why the JPMorgan Funds – Income Fund invests opportunistically across multiple debt markets and sectors with a view to making portfolio income a viable outcome.

Securitisation MBS ABS
Securitisation

What is securitisation?

17/04/2019

What is securitisation? Let’s explore the potential benefits it can bring to your investment portfolio.

MBS

What are mortgage-backed securities?

04/06/2019

What are mortgage-backed securities? Let’s explore the potential benefits it can bring to your investment portfolio.

ABS

What are asset-backed securities?

04/06/2019

WHY GLOBAL FIXED INCOME WITH BROAD-BASED APPROACH?

A WORLD OF LOWER YIELDS RISKS DIVERSIFICATION*
A WORLD OF LOWER YIELDS

FINDING INCOME IN A WORLD OF LOWER YIELDS

Market uncertainties have reinforced the dovish bias for central banks. As monetary policy remains accommodative in this environment and lower government bond yields likely to persist, investors may need to explore the full spectrum of fixed income to broaden their sources of income opportunities.

 

RISKS DIVERSIFICATION*

SEEKING TO MANAGE RISKS THROUGH DIVERSIFICATION*

As different fixed income sectors have varied correlations with each other, having a broad mix of sectors brings potential diversification* benefits to a portfolio and may achieve lower volatility than those of individual sectors.

* Diversification does not guarantee investment returns and does not eliminate the risk of loss.

 

FIXED INCOME CAPABILITIES

TEAM APPROACH PROPRIETARY RESEARCH RISK MANAGEMENT
TEAM APPROACH

ACCESS TO THE POWER OF A GLOBALLY INTEGRATED TEAM OF INVESTMENT PROFESSIONALS

■ Includes portfolio managers, research analysts, traders and investment specialists with VP title and above.
^ Includes assets managed on behalf of other J.P. Morgan Asset Management investment teams.
Source: J.P. Morgan Asset Management, as of end-March 2020.

PROPRIETARY RESEARCH

Our research encompasses fundamental, quantitative and technical analysis

 

FUNDAMENTAL

  • Macroeconomic data
  • Corporate health figures

 

QUANTITATIVE (valuations)

Rich or cheap valuation on:

  • Absolute basis
  • Relative basis (historical and cross-sector)

 

TECHNICALS

  • Supply and demand dynamics
  • Investor positioning and momentum
RISK MANAGEMENT

OUR RISK MANAGEMENT# DISCIPLINE IS ESSENTIAL TO OUR INVESTMENT PROCESS

# The portfolio risk management process includes an effort to monitor and manage risk, but does not imply low risk.

WHY INVEST IN THE JPMORGAN FUNDS – INCOME FUND?

 

Unconstrained fixed income approach

Investing opportunistically across multiple debt markets and sectors without benchmark constraints, the fund managers can focus on their top convictions to capture attractive income opportunities for a given level of risk. With an unconstrained approach, the fund managers navigate dynamically in changing market conditions.

 

 

A wider opportunity set

The Fund invests in a wide range of fixed income securities, covering traditional and non-traditional fixed income, allowing for a wider source of income.

 

Focusing on income

The fund managers manage the income of the Fund to help minimise fluctuations in dividend payments of its monthly distribution share classes*. Its USD (mth) class has maintained a distribution yield^ of 4.8% or above since launch. (*Aim at monthly distribution. Dividend rate is not guaranteed. Distributions may be paid from capital. Refer to important information 3)

Source: J.P. Morgan Asset Management, as of end-Dec 2020.
^Positive distribution yield does not imply positive return. Annualised yield = [(1+distribution per unit/ex-dividend NAV)^12]-1. The annualised dividend yield is calculated based on the monthly dividend distribution with dividend reinvested, and may be higher or lower than the actual annual dividend yield.

Compelling risk and return profile

The Fund has delivered stronger returns relative to the peer average, while exhibiting lower volatility compared with its peer group over 3-year and 5-year horizons.

Source: J.P. Morgan Asset Management, Morningstar, Inc, USD Flexible Bond Category of HK SFC authorised funds (as of end-Dec 2020, NAV to NAV in USD with income reinvested). SFC authorisation is not a recommendation or endorsement of a scheme nor does it guarantee the commercial merits of a scheme or its performance. It does not mean the scheme is suitable for all investors nor is it an endorsement of its suitability for any particular investor or class of investors. Fund refers to the USD (acc) Class. Volatility based on monthly data. Calendar year return: 2016 +7.9%;2017 +6.1%;2018 +0.4%;2019 +11.4%;2020 +3.0%. Past performance is not indicative of future performance.



More currency choices now available

In addition to USD and HKD, the Fund offers investors with multiple currency choices, including the AUD Hedged, RMB Hedged†, GBP Hedged, EUR Hedged, and SGD Hedged Classes.

Available classes Launch date
USD (acc) Class 02.06.2014
USD (mth) Class 19.12.2014
HKD (mth) Class 19.12.2014
AUD Hedged (mth) Class 05.09.2019
RMB Hedged (mth) Class† 05.09.2019
GBP Hedged (mth) Class 05.09.2019
EUR Hedged (mth) Class 05.09.2019
SGD Hedged (mth) Class 05.09.2019


† The RMB Hedged (mth) Class is not available on the J.P. Morgan eTrading platform.
Source: J.P. Morgan Asset Management, as of end-Dec 2020. The AUD/RMB/GBP/EUR/SGD Hedged Classes are not recommended for investors whose base currency of investment is not in the aforesaid currencies.

Industry recognition

The JPMorgan Funds – Income Fund is an award-winning offering with a strong track record. Andrew Norelli, who co-manages the Fund, was also named Best Hong Kong Manager – Global Bonds+ in the Citywire Asia Awards 2019 and 2020 for his outstanding fund management.

Lipper Fund Awards Hong Kong 2019
Best Fund over 3 Years – Bond Global ^
Fund Selector Asia Awards Hong Kong 2020 Global Bond – Platinum* 2020 Citywire Asia Awards Hong Kong Best Fund Manager Award - Global Bonds+


^ Issued by Lipper of Refinitiv, 2019 award for the A (acc) - USD Class, reflecting performance as of 31.12.2018. Lipper Fund Awards from Refinitiv, © 2019 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.
*Issued by Fund Selector Asia, based on volatility and consistency of performance as well as fund selector choices for the three-year period from 30.06.2016 to 30.06.2019.
+ Issued by Citywire Asia, 2020 award, reflecting performance of the past three years to 31.12.2019. 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 pastperformance or success of any such professional serves as an indicator of such professional's future performance or success. 

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LIGHT UP THE INCOME POTENTIAL IN YOUR INVESTING

Which is why we provide insights and solutions to help you seek income amid low rates and volatile markets.

LEARN MORE

Click here to see the fund price about the JPMorgan Funds - Income Fund.
Click here to learn more about our other fixed income offerings.

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For more information, please call or email us. You can also contact your J.P. Morgan representative.

(852) 2978 7788

agents.info@jpmorgan.com

J.P. Morgan Asset Management

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Important: This area of the website is intended only for distributors of JPMorgan Funds (Asia) Limited. Information is not intended for retail or public distribution.

Investment involves risk. Past performance is not indicative of future performance. In particular, funds which are invested in emerging markets and smaller companies may involve a higher degree of risk and are usually more sensitive to price movements. Investors should carefully read and consider the fund offering document(s), which contain details on investment objectives, risk factors, charges and expenses of the fund, before making any investment decisions. Information in this website does not constitute investment advice, or an offer to sell, or a solicitation of an offer to buy any security, investment product or service, nor a distribution of information for any such purpose. Informational sources are considered reliable but you should conduct your own verification of information contained herein. The above information has not been reviewed by the SFC, issued by JPMorgan Funds (Asia) Limited.

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