# Product Facts - JPMorgan Global Allocation Fund > Audience: country=us, language=en, role=adv. > Generated: 2026-10-02T20:41:02.840635766Z. ## Identity - **Fund Name**: JPMorgan Global Allocation Fund - **Share Class Name**: JPMorgan Global Allocation Fund-I - **Product Page**: [Product Page](https://am.jpmorgan.com/us/en/asset-management/adv/products/jpmorgan-global-allocation-fund-i-48121l692) - **Ticker**: GAOSX - **CUSIP**: 48121L692 - **Fund Type**: MUTUAL FUND - **Asset Class**: Asset Allocation - **Fund Inception Date**: 05/31/2011 - **Share Class Inception Date**: 05/31/2011 - **Investment Objective**: The Fund seeks to maximize long-term total return. ## Fund Facts - **Ticker**: GAOSX - **CUSIP**: 48121L692 - **Share Class Number**: 2158 - **Asset Class**: Asset Allocation - **Fund Inception Date**: 05/31/2011 - **Share Class Inception Date**: 05/31/2011 - **ESG Approach**: Integrated [Disclosure 1] ## Fund Stats - **NAV As of 10/01/2026**: $21.52 - **NAV Change ($) As of 10/01/2026**: $-0.05 - **NAV Change (%) As of 10/01/2026**: -0.23% - **30 Day SEC Yield As of 08/31/2026**: 2.51% - **30 Day SEC Yield Unsubsidized As of 08/31/2026**: 2.31% - **12-Month Rolling Dividend Yield As of 08/31/2026**: 2.77% - **Fund Assets As of 10/01/2026**: $2.13bn - **Number of Holdings As of 08/31/2026**: 1,606 - **YTD As of 10/01/2026**: 4.03% ## Portfolio Managers ### Daniel Bloomgarden - **In the industry**: 29 years - **With J.P. Morgan**: 11 years - **Managing this fund**: Less than one year ### Grace Koo - **In the industry**: 19 years - **With J.P. Morgan**: 19 years - **Managing this fund**: 12 years ### Gary Herbert - **In the industry**: 34 years - **With J.P. Morgan**: 6 years - **Managing this fund**: Less than one year ## Commentary **As of **: 08/31/2026 ### Topline Benchmark 60% MSCI ACWI Index/40% Bloomberg Global Aggregate ex-China Index Markets August was a strong month for global equities, underpinned by healthy earnings momentum among mega-cap technology companies. Global government bonds ended the month broadly flat, albeit with elevated volatility. The MSCI ACWI Index returned 2.67%; Bloomberg Global Aggregate ex-China Index returned 0.43%; and 10-year U.S. Treasury finished at 4.75%. Helped Allocations across global equities contributed positively, led by U.S. equities, as strong earnings growth and continued AI-related investment supported market returns. Hurt Given positively performing assets over the month, no allocations hurt performance. Outlook The global growth outlook remains constructive, underpinned by robust growth across developed markets, strong earnings momentum and continued strength in AI monetization. We expect the Fed to remain on hold through year-end, though we can foresee a short-lived mid-cycle hike should it fall on the hawkish side. ### Month in Review The JPMorgan Global Allocation Fund (I Class Shares) outperformed its composite benchmark, the 60% MSCI ACWI Index/40% Bloomberg Global Aggregate ex-China Index, for the month ended August 31, 2026. U.S. equities rebounded, returning 2.7%, as economic data remained resilient and corporate earnings exceeded expectations. Nvidia's latest earnings report reinforced confidence in ongoing AI-related spending, helping drive a rebound in semiconductor and broader technology shares. Additionally, the U.S. Composite PMI reached a 52-month high, reflecting continued strength in domestic economic activity and supporting investor sentiment. The July Federal Open Market Committee minutes were broadly balanced, with policymakers leaving rates unchanged at 3.50%–3.75%. Markets were left split on the likelihood of a September rate increase, while expectations for additional tightening remained relatively modest. Emerging markets also advanced, returning 3.4% during the month, supported by continued strength in AI and semiconductor stocks, particularly in Taiwan and South Korea. Fixed-income markets generated modest positive returns, although performance varied across sectors and regions. Corporate credit outperformed as spreads tightened, while government bond returns were more mixed amid changing rate expectations, energy price volatility and central bank commentary. ### Looking Ahead We maintain a preference for overall equities, diversified across U.S., developed ex-U.S. and emerging markets, supported by resilient economic growth, healthy corporate earnings and broadening profit growth across sectors. In May, the fund added a MAS Quant sleeve that offers diversification, alpha and capital efficiency by utilizing proprietary models that systematically identify and capitalize on opportunities across asset classes through derivatives. This new sleeve complements our fundamental approach by applying systematic signals across major asset classes, focused on factors, themes and risk premia. We continue to favor credit, supported by solid corporate fundamentals and attractive income opportunities. Global investment-grade and high-yield credit remain supported by healthy balance sheets and resilient economic conditions, while select emerging markets debt may benefit from a weaker U.S. dollar environment. Elsewhere in fixed income, we are diversifying corporate credit exposure through securitized products and local-currency emerging markets debt, while using government bond duration as ballast in a more constructive macro backdrop. We maintain an active stance in the portfolio, as market volatility may remain elevated amid geopolitical tensions, evolving inflation dynamics and shifting central bank policy expectations. With both inflation and growth risks remaining uncertain, maintaining diversification across asset classes, regions and styles remains essential. ## Documents - [Factsheet: JPMorgan Global Allocation Fund (I)](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/fact-sheet/asset-allocation/FS-GAL-I.PDF) - [Commentary: Global Allocation Fund](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/commentary/FC-GAL.PDF) - [Section 19a Notice - December 2025](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/supplemental/section-19-notices/section-19a-notice-annual-mutual-funds-fof.pdf) - [Supplemental Data Sheet - Global Allocation Fund (Monthly)](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/supplemental/mfdp/MFDP-GAL-1.PDF) - [Summary Prospectus](https://am.jpmorgan.com/JPMorgan/TVT/48121L692/SP?site=JPMorganv3) - [Prospectus](https://am.jpmorgan.com/JPMorgan/TVT/48121L692/P?site=JPMorganv3) - [Annual Report to Shareholders](https://am.jpmorgan.com/JPMorgan/TVT/48121L692/AR?site=JPMorganv3) - [Annual Financial Statements and Other Information](https://am.jpmorgan.com/JPMorgan/TVT/48121L692/NCSR?site=JPMorganv3) - [Semi-Annual Report to Shareholders](https://am.jpmorgan.com/JPMorgan/TVT/48121L692/SAR?site=JPMorganv3) - [Semi-Annual Financial Statements and Other Information](https://am.jpmorgan.com/JPMorgan/TVT/48121L692/NCSRS?site=JPMorganv3) - [First Quarter Holding](https://am.jpmorgan.com/JPMorgan/TVT/48121L692/QH1?site=JPMorganv3) - [Third Quarter Holding](https://am.jpmorgan.com/JPMorgan/TVT/48121L692/QH3?site=JPMorganv3) - [Statement of Additional Information](https://am.jpmorgan.com/JPMorgan/TVT/48121L692/S?site=JPMorganv3) - [Annual Report Of Proxy Voting](https://am.jpmorgan.com/JPMorgan/TVT/48121L692/NPX?site=JPMorganv3) ## Disclosures 1. This Fund considers financially material environmental, social and governance ("ESG") factors as part of the Fund's investment process. In actively managed assets deemed by J.P. Morgan Asset Management to be ESG integrated under our governance process, we systematically assess financially material ESG factors amongst other factors in our investment decisions with the goals of managing risk and improving long-term returns. ESG integration does not change a strategy's investment objective, exclude specific types of companies or constrain a strategy's investable universe.