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Important Information

JPMorgan Multi Income Fund

  1. The Fund invests in a diversified portfolio of income-producing equities, bonds and other securities. The Fund will have limited RMB denominated underlying investments.
  2. The Fund is therefore exposed to a range of investment related risks which includes equity, credit , investment grade bond risks, interest rate risk which may affect the price of bonds and real estate market related risks (associated with the risk of investing in REITs and other property related securities; direct investment in real estate is not permitted), liquidity, distribution (no assurance on distribution, distribution rate or dividend yield), Eurozone sovereign debt crisis and derivatives 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. For currency hedged classes, risks associated with the hedging 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.
Confirm
  1. JPMorgan Multi Income Fund

View the important information

DIVERSIFY YOUR INCOME SOURCES TO NAVIGATE CHANGING MARKETS

Download fund story

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jpmorgan-multi-income-fund

Which is why the JPMorgan Multi Income Fund invests dynamically across geographies and asset classes, capturing multiple income and capital growth opportunities in different market conditions to build a stronger portfolio.

TACKLING CHALLENGES WITH A DYNAMIC MULTI-ASSET APPROACH

1. OVERCAST OUTLOOK; VOLATILITY HEIGHTENED

Escalating trade tensions and other geopolitical concerns have cast a cloud over the global economic outlook, and may further weigh on financial markets. Still, investors may risk missing out on investment opportunities should they choose to stay on the sidelines in uncertain markets.

multi-income-fund-overcast-outlook-icon

SOLUTION

Different assets perform differently under various market conditions. As market volatility persists, it is crucial that investors adopt a diversified approach, depending on their risk appetite, with exposure to different asset classes to help achieve a balanced risk and return profile.

SEEK A BALANCED RISK AND RETURN PROFILE

DIVERSIFIED EQUITIES AND REITS FIXED INCOME AND CASH ALL
DIVERSIFIED

 

# Source: Bloomberg Finance L.P., Dow Jones, FactSet, J.P. Morgan Economic Research, MSCI, J.P. Morgan Asset Management....... Read More >

EQUITIES AND REITS

 

# Source: Bloomberg Finance L.P., Dow Jones, FactSet, J.P. Morgan Economic Research, MSCI, J.P. Morgan Asset Management....... Read More >

FIXED INCOME AND CASH

 

# Source: Bloomberg Finance L.P., Dow Jones, FactSet, J.P. Morgan Economic Research, MSCI, J.P. Morgan Asset Management....... Read More >

ALL

 

# Source: Bloomberg Finance L.P., Dow Jones, FactSet, J.P. Morgan Economic Research, MSCI, J.P. Morgan Asset Management....... Read More >

2. A WORLD OF LOWER YIELDS

Central banks look set to embark on further monetary easing to help cushion downside risks. In July 2019, the US Federal Reserve cut rates for the first time in a decade. The European Central Bank and other central banks in Asia are also leaning towards policy easing. It has become increasingly challenging for investors to find the income they need from traditional sources.

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SOLUTION

Although yields^ are on a decline, investors can still tap diverse investment opportunities by moving across regions, asset classes and the full capital structure for additional income sources.

^Yield is not guaranteed. Positive yield does not imply positive return.

Broaden sources of income

ALL FIXED INCOME EQUITIES
ALL

† Source: Bank of America, Bloomberg Finance L.P., Clarkson, FactSet, Federal Reserve, FTSE, MSCI, NCREIF, Standard & Poor’s, J.P. Morgan Asset Management. HD:...... Read More >

FIXED INCOME

 

† Source: Bank of America, Bloomberg Finance L.P., Clarkson, FactSet, Federal Reserve, FTSE, MSCI, NCREIF, Standard & Poor’s, J.P. Morgan Asset Management. HD:...... Read More >

EQUITIES

 

† Source: Bank of America, Bloomberg Finance L.P., Clarkson, FactSet, Federal Reserve, FTSE, MSCI, NCREIF, Standard & Poor’s, J.P. Morgan Asset Management. HD:...... Read More >

More information about the JPMorgan Multi Income Fund:

Download Fund Story >   Fund Price >

Why invest in the JPMorgan Multi Income Fund?

The ability to dynamically respond to changing market conditions is key to delivering capital growth. Our fund managers have the flexibility to dynamically allocate their highest conviction ideas across geographies, asset classes and capital structure into a single portfolio.



The Fund has delivered stronger returns relative to the peer average, while exhibiting lower volatility compared with its peer group over 1-year, 2-year, 3-year and 5-year horizons.

Source: J.P. Morgan Asset Management, Morningstar, Inc, USD Moderate Allocation Category of HK SFC authorised funds (as of end-February 2020, NAV to NAV in USD with income reinvested). The authorisation from SFC does not imply official recommendation. Fund refers to the USD (mth) Class. Calendar year return: 2015 -1.6%; 2016 +7.4%; 2017 +10.6%; 2018 -5.0%; 2019 +14.8%; 2020 YTD -3.1%. Past performance is not indicative of future performance.

With an aim to maximise income return through a diversified portfolio, the Fund is designed to capture income potential from a broad range of asset classes. Its monthly distribution share classes* provide investors with attractive income opportunities.
(*Aim at monthly distribution. Dividend rate is not guaranteed. Distributions may be paid from capital. Refer to important information 3)

Leon Goldfeld, who co-manages the JPMorgan Multi Income Fund, was named Fund Manager of the Year – Mixed Asset+ at The Asset Triple A Asset Servicing, Institutional Investor and Insurance Awards 2019 for his outstanding management of various funds.

+ Issued by The Asset, 2019 award, reflecting performance of previous calendar year. 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 past performance or success of any such professional serves as an indicator of such professional's future performance or success.

STRONG CAPABILITIES OF OUR MULTI-ASSET SOLUTIONS

 

Source: J.P. Morgan Asset Management, as of end-December 2019.
Includes portfolio managers, research analysts, traders and investment specialists with VP title and above.

More information about the JPMorgan Multi Income Fund:

Download Fund Story >   Fund Price >

 

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Looking for a multi-asset strategy with a conservative, lower-volatility approach?

Learn more

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RELATED ARTICLE

1909-thepress

In the press

Amid heightened market volatility driven by trade tensions and slowing economic growth, multi-asset investing could be a good way to capture late-cycle opportunities while mitigating risks. Let’s hear from our portfolio manager.

Read more

This article is not issued by J.P. Morgan Asset Management. Available in Chinese only.

# Source: Bloomberg Finance L.P., Dow Jones, FactSet, J.P. Morgan Economic Research, MSCI, J.P. Morgan Asset Management. APxJ: Asia Pacific ex-Japan. DM: developed market. EM: emerging market. EMD: emerging market debt. HY: high yield. REITs: real estate investment trusts. The “Diversified” portfolio assumes the following weights: 20% in the MSCI World Index (DM equities), 20% in the MSCI AC Asia Pacific ex-Japan (APxJ equities), 5% in the average of the MSCI EM Latin America and MSCI EM EMEA Indices (EM ex-Asia equities), 10% in the J.P. Morgan EMBIG Index (EMD), 10% in the Bloomberg Barclays Aggregate (Global bonds), 10% in the Bloomberg Barclays Global Corporate High Yield Index (Global corporate HY bonds), 15% in J.P. Morgan Asia Credit Index (Asian bonds), 5% in MSCI US REITs Index (US REITs) and 5% in Bloomberg Barclays U.S. Treasury – Bills (1-3 months) (Cash). Diversified portfolio assumes annual rebalancing. All data represent total return in US dollar terms for the stated period. 10-year total return data is used to calculate annualised returns (Ann. Ret.) and 10-year price return data is used to calculate annualised volatility (Ann. Vol.) and reflects the period 30.06.2009 – 30.06.2019. Past performance is not indicative of future performance. Different asset classes have different risk profiles. Guide to the Markets – Asia. Data reflect most recently available as of 30.06.2019.

† Source: Bank of America, Bloomberg Finance L.P., FactSet, Federal Reserve, FTSE, MSCI, NCREIF, Standard & Poor’s, J.P. Morgan Asset Management. HD: high dividend. Asset classes are based on FTSE NAREIT Global/USA REITs (Global/US REITs), Bloomberg Barclays US Convertibles Composite (Convertibles), Bloomberg Barclays Global High Yield Index (Global HY bonds), J.P. Morgan Government Bond Index EM Global (GBI-EM) (Local EMD), J.P. Morgan Emerging Market Bond Index Global (EMBIG) (USD EMD), J.P. Morgan Asia Credit Index Non-investment Grade (Asia HY bonds), MSCI Emerging Markets (EM equities), MSCI Emerging Markets High Dividend Yield Index (EM HD equities), MSCI World High Dividend Yield Index (DM HD equities), MSCI Europe (European equities), MSCI USA (US equities). EM HD equities and DM HD equities as of 28.02.2019. Different asset classes have different risk profiles. For illustrative purposes only. Guide to the Markets – Asia. Data reflect most recently available as of 30.06.2019.

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Feel free to call our InvestorLine or email us if you would like further information about our Funds or J.P. Morgan DIRECT Investment Platform services:

(852) 2265 1188

investor.services@jpmorgan.com

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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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