Important Information

JPMorgan Global Equity High Income Fund
1. The Fund invests primarily (at least 70%) in equity securities of listed companies, globally, and using derivatives where appropriate.
2. The Fund is therefore exposed to risks related to equity, derivatives, concentration, emerging markets, smaller companies, currency, hedging, class currency and currency hedged classes.  RMB hedged class also exposes to risks associated with the RMB currency. 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 Asia Equity High Income Fund
1. The Fund invests primarily (at least 70%) in equity securities of listed companies in Asia (excluding Japan), and using derivatives where appropriate.
2. The Fund is therefore exposed to risks related to equity, derivatives, emerging markets, concentration, smaller companies, currency, liquidity, hedging and class currency.
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.

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