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JPMORGAN INTREPID GROWTH FUND

Capitalize on market inefficiencies.

With an eye towards capturing growth opportunities that are often caused by irrational investing, the Intrepid Growth Fund combines qualitative analytics with fundamental research based on behavior underpinnings to deliver consistent long-term results.

Key Points

Key points

  • Style-pure approach to growth investing that focuses on consistency.
  • Differentiated approach combines quantitative and fundamental investing.
  • Top-quintile performance vs. peers for the five-year period.1
  • Consistent outperformance: Top-quintile batting average over the five-year period.2

1 Source: Morningstar as of 12/31/15. Select Shares. Ranked as follows: one-year (1063/1681), three-year (385/1542), five-year (245/1326), 10-year(310/933).

2 Consistency is measured by batting average—calculated by dividing the number of quarters (or months) in which the manager beats or matches the index by the total number of quarters (or months) in the period: one year (1124/1,682 funds), three years (425/1,543 funds), five years (225/1,327 funds) and 10 years (371/940 funds). Past performance does not guarantee future results.


Finding growth others may miss

The Fund’s experienced investment team uses a differentiated process that combines quantitative analytics, based on behavioral finance principles, with fundamental research to validate stock selection.

Investor biases create the anomalies the Fund’s investment philosophy aims to exploit. The team seeks the opportunities that others might miss, by targeting companies with attractive valuations, high quality and strong momentum.

Performance

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Fees and Investment Minimums

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Portfolio

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Management

Fund Managers

For more information about this fund, please see the commentary posted below. 
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Disclaimer

1Please refer to the prospectus for additional information about cut-off times.

Total return assumes reinvestment of income.

From 2/28/03 through 10/01/03, the Fund did not experience any shareholder purchase and sale activity. If such shareholder activity had occurred, the Fund's performance may have been impacted.

The quoted performance of the Fund includes performance of a predecessor fund/share class prior to the Fund's commencement of operations. Please refer to the current prospectus for further information.

The Russell 1000 Growth Index is an unmanaged index which measures the performance of those Russell 1000 companies with higher price-to-book ratios and higher forecasted growth values. The performance of the index does not reflect the deduction of expenses associated with a fund, such as investment management fees. By contrast, the performance of the Fund reflects the deduction of fund expenses, including sales charges if applicable. Investors can not invest directly in an index.

The performance of the Lipper Large-Cap Growth Funds Index includes expenses associated with a mutual fund, such as investment management fees. These expenses are not identical to the expenses charged by the Fund.

Total return assumes reinvestment of dividends and capital gains distributions and reflects the deduction of any sales charges, where applicable. Performance may reflect the waiver of a portion of the Fund's advisory or administrative fees and/or reimbursement of certain expenses for certain periods since the inception date. If fees had not been waived and/or certain expenses were not reimbursed, performance would have been less favorable.

©2016, American Bankers Association, CUSIP Database provided by the Standard & Poor's CUSIP Service Bureau, a division of The McGraw-Hill Companies, Inc. All rights reserved.

©2016, Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its providers; (2) may not be copied or distributed; (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damage or losses arising from any use of this information. For each fund with a three-year history, Morningstar calculates a Morningstar Rating™ metric each month by subtracting the return on a 90-day U.S. Treasury Bill from the fund's load-adjusted return for the same period, and then adjusting this excess return for risk. The top 10% of funds in each broad asset class receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. Past performance is no guarantee of future results. Different share classes may have different ratings.

There is no assurance that behavioral finance strategies will protect against the loss of capital.

Total return assumes reinvestment of income.

The top 10 holdings listed reflect only the Fund's long-term investments. Short-term investments are excluded. Holdings are subject to change. The holdings listed should not be considered recommendations to purchase or sell a particular security. Each individual security is calculated as a percentage of the aggregate market value of the securities held in the Fund and does not include the use of derivative positions, where applicable.

P/E ratio: the number by which earnings per share is multiplied to estimate a stock's value.

P/B ratio: the relationship between a stock's price and the book value of that stock.

EPS: Total earnings divided by the number of shares outstanding.