Quality, as an adjective, describes an asset that is of high standard and excellence and this aspect can be a priority for some investors. For them, a quality asset is also durable, functional and appealing.

When investing in bonds, quality refers to fixed income assets with higher credit ratings and are characterised by relatively lower risk of default (durable), present opportunities for diversification (functional) and could be less volatile during market turmoil (appealing).

In the search for quality bonds, some investors would turn to the expertise of skilled investment ‘artisans’ who seek out quality fixed income in every corner of investment world, and select those with sound fundamentals and income opportunities for the portfolios. With prudent research process and a strong commitment to excellence by active management, we strive to fine-carve bond portfolios with quality income opportunities.

1. Please refer to the fund’s offering documents for further details on its objectives. The manager seeks to achieve its stated objectives and there is no guarantee they will be met.
2. Source: J.P. Morgan Asset Management, as of end-June 2023. The portfolio risk management process includes an effort to monitor and manage risk, but does not imply low risk.
3. Source: J.P. Morgan Asset Management, Moody’s, S&P, Fitch, as of end-June 2023. To calculate portfolio credit quality, issuer or guarantor credit rating may be considered. The credit rating is based on the highest of different rating agencies. Average rating is the weighted average of the credit ratings of bond holdings (including non-rated bonds), excluding convertibles and net liquidity.
4. Source: J.P. Morgan Asset Management, as of end-June 2023. The Fund is an actively managed portfolio; holdings, sector weights, allocations and leverage, as applicable are subject to change at the discretion of the Investment Manager without notice.
5. Source: J.P. Morgan Asset Management, as of end-June 2023. Annualised yield = [(1+distribution per unit/ex-dividend NAV)^distribution frequency]-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. Yield is not guaranteed. Positive distribution yield does not imply positive return.
6. Source: J.P. Morgan Asset Management, as of end-June 2023. Provided for information only based on market conditions as of date of publication, not to be construed as investment recommendation or advice. Past performance is not a reliable indicator of current and future results.
7. Source: J.P. Morgan Asset Management, Moody’s, S&P, Fitch, as of end-June 2023. To calculate portfolio credit quality, issuer or guarantor credit rating may be considered. The credit rating is based on the highest of different rating agencies. Average rating is the weighted average of the credit ratings of bond holdings (including non-rated bonds), excluding convertibles and net liquidity.
8. Source: J.P. Morgan Asset Management, as of end-June 2023. Annualised yield = [(1+distribution per unit/ex-dividend NAV)^distribution frequency]-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. Yield is not guaranteed. Positive distribution yield does not imply positive return.
9. Source: J.P. Morgan Asset Management. Data as of end-June 2023. Duration is a measure of the sensitivity of the price (the value of the principal) of a fixed income investment to a change in interest rates and is expressed as number of years.

Provided for information only based on market conditions as of date of publication, not to be construed as investment recommendation or advice. The manager seeks to achieve the stated objectives. There can be no guarantee the objectives will be met.

Diversification does not guarantee investment return and does not eliminate the risk of loss. Yields are not guaranteed. Positive yield does not imply positive return.

Investment involves risk. Not all investments are suitable for all investors. Past performance is not a reliable indicator of current and future results. Please refer to the offering document(s) for details, including the risk factors. Investors should consult professional advice before investing. Investments are not similar to or comparable with fixed deposits. The opinions and views expressed here are as of the date of this publication, which are subject to change and are not to be taken as or construed as investment advice. Estimates, assumptions and projections are provided for information only and may or may not come to pass. This document has not been reviewed by the SFC. Issued by JPMorgan Funds (Asia) Limited.