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    CONTINUE Go Back
    1. Crafting portfolios with quality bonds

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    Important information
    JPMorgan Global Bond Fund
    1. The Fund invests primarily (at least 80%) in global investment grade debt securities. The Fund will have limited RMB denominated underlying investments.
    2. The Fund is exposed to risks related to debt securities (including credit risk, interest rate risk, below investment grade/ unrated investment risk, investment grade bond risk, sovereign debt risk and valuation risk), emerging markets, currency, derivatives, liquidity, hedging, class currency and currency hedged classes. 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. For RMB hedged class, 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.
    4. Investors may be subject to substantial losses.
    5. Investors should not solely rely on this document to make any investment decision.

    JPMorgan Asian Total Return Bond Fund
    1. The Fund invests primarily (at least 70%) in Asian bonds and other debt securities. The Fund will have limited RMB denominated underlying investments.
    2. The Fund is exposed to risks related to debt securities (including interest rate risk, below investment grade/ unrated investment risk, investment grade bond risk, sovereign debt risk, valuation risk and credit risk) emerging markets, concentration, currency, derivatives, liquidity, hedging, class currency and currency hedged classes. 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. For RMB hedged class, 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.
    4. Investors may be subject to substantial losses.
    5. Investors should not solely rely on this document to make any investment decision.
    Read More

    Crafting portfolios with quality bonds

    JPMorgan Global Bond Fund
    JPMorgan Asian Total Return Bond Fund
    Investment ideas on quality bonds

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    Polishing up portfolio quality

    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.

    Video

    Why quality matters

    (Video in Chinese only)

    J.P. Morgan Asset Management’s quality bond strategies

    Tirelessly refined with global bonds

    JPMorgan Global Bond Fund

    Finely carved with Asian bonds

    JPMorgan Asian Total Return Bond Fund

    strategies

    • JPMorgan Global Bond Fund
    • JPMorgan Asian Total Return Bond Fund
    JPMorgan Global Bond Fund

    Investing at least 80% in investment-grade bonds1


    A quality bond portfolio with a high credit-rating profile. The Fund employs a disciplined risk management strategy to seek a relatively low volatility against the benchmark2.

    A
    Average credit rating3

    See how the Fund is positioned

    Tapping into the potential of global government bonds


    While the Fund diversifies across multiple fixed income sectors, it tilted towards government bonds4 as repricing in yields present income opportunities and typically lower correlation between government bonds and other risk assets could enhance diversification benefits.

    63.0%
    in global government related bonds4

    See how the Fund is positioned

    Locking-in relatively attractive income


    The elevated yields in IG corporates and government bonds present quality asset seekers with relatively attractive income. The Fund raised the distribution per unit in the first half of 2023.

    5.01%
    The annualised distribution yield of the Fund’s Class (mth) - USD* as of end-June 20235

    (*Aim at monthly distribution. Dividend rate is not guaranteed. Distributions may be paid from capital. Refer to important information3)

    See the latest distribution yield

    JPMorgan Asian Total Return Bond Fund

    No default since inception


    With the prudent and sophisticated credit research process, the Fund has managed to avoid default names in the portfolio since inception (as of end-June 2023)6 – a proven track record of quality.


    BBB
    Average credit rating investment grade level7

    See how the Fund is positioned

    Going across multiple sectors for yield potential


    Without benchmark constraints, the Fund invests flexibly across Asian fixed income sectors, including US-dollar (USD) corporate credit and local currency bonds, striving for competitive total returns and income potential.


    6.86%
    The annualised distribution yield of the Fund’s Class (mth) - USD* as of end-June 20238

    (*Aim at monthly distribution. Dividend rate is not guaranteed. Distributions maybe paid from capital. Refer to important information3)

    See the latest distribution yield

    Actively managing duration and FX position


    The Fund actively manages duration to navigate the changing rates environment in the US and Asia. The tactical foreign exchange hedging also allows for flexible adjustment in our Asian currency exposure with a view to managing risks while capturing opportunities.

    4.9 years
    Duration of the Fund9

    See how the Fund is positioned

    Income investment ideas

    Portfolio Chart: Why are global bonds back on the radar?

    Learn more

    Portfolio Q&A: Asian Total Return Bond Fund

    Learn more

    Quality bonds are back in vogue. Here’s why.

    Learn more

    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.

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    The information contained herein is intended only for use by Hong Kong residents. By using this information, you are representing and warranting that you are either residing in Hong Kong or the applicable laws and regulations of your jurisdiction allow you to access the information, and you confirm that you accept the Terms of Use as set out in https://am.jpmorgan.com/hk/. 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. Investors should read carefully the fund notes 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. Opinions and statements of financial market trends set out are for information purposes only, based on certain assumptions and current market conditions and are subject to change without prior notice. Investors should conduct their own verification. The views and strategies described may not be suitable for all investors. This website and the advertisements contained herein are issued by JPMorgan Funds (Asia) Limited. This website has not been reviewed by the Securities and Futures Commission of Hong Kong ("SFC"), with the exception of material relating to the JPMorgan Provident Plan that the SFC has pre-approved (however such pre-approval does not imply official recommendation by the SFC).

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