Important Information
JPMorgan Future Transition Multi-Asset Fund

1. The Fund invests primarily (i.e. at least 70% of its total net asset value) in debt and equity securities (directly or indirectly through collective investment schemes) whose issuers may benefit from, or contribute to, the transition towards the future world. The Fund will have limited Renminbi (RMB) denominated underlying investments.
2. The Fund is therefore exposed to a range of investment related risks which includes risks associated with the Fund’s investment strategy (including risks associated with future transition concept, its sub-themes and changing market trends, risks associated with concentration in a single theme and/or sub-theme and risks associated with the use of big data and artificial intelligence technique), dynamic asset allocation strategy, debt securities (including downgrading risk, below investment grade/ unrated investment risk, credit risk, interest rate risk, valuation risk, volatility and liquidity risk),  equity, emerging markets, investing in other collective investment schemes, concentration, currency, derivatives, liquidity, hedging, class currency and  currency hedged classes.  In addition, RMB hedged classes expose to risks associated with the RMB currency and currency hedged classes 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. The Manager may, under extreme market conditions when there is not sufficient RMB for currency conversion and with the approval of the Trustee, pay redemption monies and/or distributions in USD.
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. Also, a positive distribution yield does not imply a positive return on the total investment. The distribution amount and net asset value per unit of a currency hedged class may be adversely affected by differences in the interest rates of the reference currency of the relevant currency hedged class and the Fund’s base currency, resulting in an increase in the amount of distribution that is paid out of capital and hence a greater erosion of capital than other classes of units.
4. Investors may be subject to substantial losses.
5. Investors should not solely rely on this document to make any investment decision.

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