JPMorgan Mid Cap Growth Fund - Select - J.P. Morgan Asset Management
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JPMorgan Mid Cap Growth Fund
(HLGEX)
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JPMORGAN MID CAP GROWTH FUND

Finding growth in the middle.

Drawing upon the insights of a deeply experienced team, the Mid Cap Growth Fund takes a disciplined approach to identifying high-quality, mid-cap companies with strong long-term growth prospects.

Fund Story   Commentary  

Key Points

  • Portfolio managers Tim Parton and Felise Agranoff are backed by a team of dedicated growth analysts.
  • Seeks companies with large or growing addressable markets, a sustainable competitive advantage and strong management execution.
  • Top-quintile performance over the five-year period.1
  • Top-decile batting average over five- and 10-year periods.2
GROWTH OF $100,000 OVER 10 YEARS

Source: Morningstar, J.P. Morgan Asset Management; as of 9/30/16. Mid-Cap Growth Category. Select Shares since inception 3/2/1989. Other share classes may have higher expenses, which would result in lower returns. Ten-year growth with dividends and capital gains reinvested. Past performance is no guarantee of future results.

1Morningstar as of 9/30/16. Ranked: 1-yr. (605/721), 3-yr. (175/660), 5-yr. (88/574) and 10-yr. (114/425).
2Batting average measures manager’s ability to meet or beat the market consistently, calculated by dividing the number of quarters /months when the manager beats/matches the index by the total number of quarters/months in the period. Ranked: 1-yr. (84/727), 3-yrs. (14/699), 5-yrs. (14/670), 10-yrs. (35/615).

The growth advantage strategy

Tim Parton, portfolio manager, suggests that by focusing on investment in the best companies regardless of capitalization, this innovative strategy offers two key advantages that make it stand out.

Performance

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Fees

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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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Documents

Disclaimer

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

Total return assumes reinvestment of income.

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 Midcap Growth Index is an unmanaged index, which measures the performance of those Russell Midcap 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 the fund expenses, including sales charges if applicable. An investor can not invest directly in an index.

The performance of the Lipper Multi-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.

The performance of the Lipper Mid-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.
The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category 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 managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
The following risks could cause the fund to lose money or perform more poorly than other investments. For more complete risk information, see the prospectus.

Mid-cap funds typically carry more risk than funds investing in well-established "blue-chip" companies and have historically experienced a greater degree of volatility than the average stock.
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.

Beta measures a fund's volatility in comparison to the market as a whole. A beta of 1.00 indicates a fund has been exactly as volatile as the market.

Sharpe ratio measures the fund's excess return compared to a risk-free investment. The higher the Sharpe ratio, the better the returns relative to the risk taken.

Average Life: The length of time the principal of a debt issue is expected to be outstanding.

Tracking Error: The active risk of the portfolio, which determines the annualized standard deviation of the excess returns between the portfolio and the benchmark.

Alpha: The relationship between the performance of the Fund and its beta over a three-year period of time.

Standard deviation/Volatility: A statistical measure of the degree to which the Fund's returns have varied from its historical average. The higher the standard deviation, the wider the range of returns from its average and the greater the historical volatility. The standard deviation is calculated over a 36-month period based on Fund's monthly returns. The standard deviation shown is based on the Fund's Class A Shares or the oldest share class, where Class A Shares are not available.

R2: The percentage of a Fund's movements that result from movements in the index ranging from 0 to 100. A Fund with an R2 of 100 means that 100 percent of the Fund's movement can completely be explained by movements in the Fund's external index benchmark.

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

Risk measures are calculated based upon the Funds' broad-based index as stated in the prospectus.