YOUR BOND PORTFOLIO SHOULD SEE THE WORLD
Which is why the JPMorgan Global Bond Opportunities Fund is flexible and free from benchmark constraints.
World Bond category overall rating as of 3/31/17
Source: Morningstar. I Shares. Three-year rating: 4 stars, 312 funds rated. Five-year and 10-year not rated. For overall rating, 312 funds were rated. Ratings reflect risk-adjusted performance. Different share classes may have different rankings. Rankings do not take sales loads into account. The Overall Morningstar Rating™ for a fund is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics.
Without a benchmark as a starting point, the global team of over 200 fixed income experts employs its flexible “best ideas” strategy with the goal of generating attractive total returns.
Free from rigid regional or sector allocations, the Fund can adopt a conservative allocation in uncertain periods, moving tactically into higher-risk opportunities as conditions warrant. The Fund can also adapt its sensitivity to interest rates (duration) depending on the economic backdrop.
Historical Portfolio weightings by sector
Source: J.P. Morgan. The Fund is an actively managed portfolio: holdings, sector weights, allocations and leverage, as applicable, are subject to change at the discretion of the Investment Manager without notice. Data as of 3/31/17.
TAPPING INTO PROVEN SUCCESS
BROADEN THE BORDERS OF YOUR BOND PORTFOLIO
The Global Bond Opportunities Fund seeks to deliver total returns by providing flexible, high-conviction exposure across more than 15 fixed income sectors and 50 countries.
Risk/Return since inception
PERFORMANCE DATAI SHARES AS OF 3/31/17
|1 YEAR||3 YEARS||SINCE INCEPTION†|
|Bloomberg Barclays Multiverse Index2||-1.02%||-0.20%||0.13%|
|Lipper Global Income Funds Index3||3.34%||1.34%||1.36%|
†Performance Inception Date: 9/4/12
Performance quoted is past performance and is no guarantee of future results. Investment returns and principal value will fluctuate, so shares, when sold, may be worth more or less than original cost. Current performance may be higher or lower than returns shown. Call 1-800-480-4111 for most recent month-end performance.
Unless stated otherwise, performance data 1) do not take into account any costs associated with the issue or redemption of shares and 2) assumes that gross income is reinvested. The benchmark is for reference only; the Fund does not attempt to duplicate the composition or performance of the benchmark.
ANNUAL OPERATING EXPENSES (%)I SHARES AS OF 3/31/17
|Gross Expenses||Net Expenses|
The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation and extraordinary expenses) exceed 0.90% for A shares and 0.65% for Select shares of the average daily net assets. This waiver is in effect through 12/31/2017, at which time the adviser and/or its affiliates will determine whether to renew or revise it.
Must be preceded or accompanied by a prospectus.
1Total return figures (for the fund and any index quoted) assume payment of fees and reinvestment of dividends (after the highest applicable foreign withholding tax) and distributions. Without fee waivers, fund returns would have been lower. Due to rounding, some values may not total 100%.
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.
- Investments in bonds and other debt securities will change in value based on changes in interest rates. If rates rise, the value of these investments generally drops.
- Securities rated below investment grade are considered “high-yield,” “non-investment grade,” “below investment-grade,” or “junk bonds,” and are usually rated in the fifth or lower rating categories of Standard & Poor’s and Moody’s Investors Service. Although they tend to provide higher yields than higher rated securities, they can carry greater risk
- International investing bears greater risk due to social, economic, regulatory and political instability in countries in “emerging markets.” This makes emerging market securities more volatile and less liquid than developed market securities. Changes in exchange rates and differences in accounting and taxation policies outside the U.S. can also affect returns.
Mutual funds have fees that reduce their performance: indexes do not. You cannot invest directly in an index.
2The Bloomberg Barclays Multiverse Index is a measure of the international fixed-income bond market that combines the Barclays Global Aggregate Index and the Barclays Global High Yield Index. The Barclays Global Aggregate Index measures investment-grade debt from twenty-four different local currency markets. The Barclays Global High-Yield Index measures the global high-yield fixed income markets.
3The Lipper Global Income Funds Index performance includes mutual fund expenses, such as investment management fees, which are not identical to the expenses charged by the Fund.
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. Rankings do not take sales loads into account.