JPMorgan Global Bond Fund

1. The Fund invests primarily in global investment grade debt securities. The Fund will have limited RMB denominated underlying investments.
2. The Fund is exposed to interest rate risks which may affect the price of bonds, credit, currency, investment grade bond, liquidity and Eurozone sovereign debt crisis risks, and, for currency hedged classes, risks associated with the currency hedged classes and class currency. 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.
4. Investors may be subject to substantial losses.
5. Investors should not solely rely on this document to make any investment decision.