J.P. Morgan Funds makes proxy voting records available by fund for the most recent 12-month period ending June 30 on the website no later than August 31 of each year. You can review a summary of the J.P. Morgan Funds' voting policy below and download a copy of the Global Proxy Voting Procedures and Guidelines.
Proxy Voting Policy
Each investment advisor within the J.P. Morgan Asset Management group1, (each referred to individually as a "JPMAM Entity" and collectively as "JPMAM"), may be granted by its clients the authority to vote the proxies of the securities held in client portfolios. To ensure that the proxies are voted in the best interests of its clients, JPMAM has adopted detailed proxy voting procedures ("Procedures") that incorporate detailed proxy guidelines ("Guidelines") for voting proxies on specific types of issues. Each J.P. Morgan Fund, with the exception of J.P. Morgan Multi-Manager Alternatives Fund and Undiscovered Managers Behavioral Value Fund, has granted its adviser the authority to vote proxies for the Funds in accordance with these Procedures and Guidelines. The J.P. Morgan Multi-Manager Alternatives Fund and Undiscovered Managers Behavioral Value Fund vote proxies in accordance with the voting policies of their sub-advisers.
JPMAM currently has separate guidelines for each of the following regions: (1) North America, (2) Europe, Middle East, Africa, Central America and South America, (3) Asia (ex-Japan) and (4) Japan. As a general rule, in voting proxies of a particular security, each JPMAM Entity will apply the guidelines of the region in which the issuer of such security is organized.
Pursuant to the Procedures, most routine proxy matters will be voted in accordance with the Guidelines, which been developed with the objective of encouraging corporate action that enhances shareholder value. For proxy matters that are not covered by the Guidelines, matters that require a case-by-case determination or matters where a vote contrary to the Guidelines is considered appropriate, the Procedures require a certification and review process to be completed before the vote is cast. That process is designed to identify actual or potential material conflicts of interest and ensure that the proxy vote is cast in the best interests of clients.
To oversee and monitor the proxy-voting process, each JPMAM advisory entity has established a proxy committee and appointed a proxy administrator in each global location where proxies are voted. Each proxy committee will meet periodically to review general proxy-voting matters, review and approve the Guidelines annually, and provide advice and recommendations on general proxy-voting matters as well as on specific voting issues presented by the relevant JPMAM entity. The Procedures permit an independent proxy voting service to perform certain services otherwise carried out or coordinated by the proxy administrator.
A copy of the JPMAM Global Proxy Voting Procedures and Guidelines, and the policies of the sub-advisors to the J.P. Morgan Multi-Manager Alternatives Fund and Undiscovered Managers Behavioral Value Fund can be found on the Proxy Voting Procedures and Guidelines on the right side of this page or upon request by contacting our Service Center at 1-800-480-4111.
1The JPMAM Entities that act as investment advisors or sub-advisors to the J.P. Morgan Funds are J.P. Morgan Investment Management Inc., Security Capital Research & Management Incorporated, J.P. Morgan Alternative Asset Management, Inc., J.P. Morgan Private Invstments, Inc. and JF International Management Inc.
Proxy Voting Procedures and Guidelines
Global Proxy Voting Procedures and Guidelines (2016 Edition)
Updated as of: 04/01/16
Global proxy voting procedures and guidelines for North America, Europe, Middle East, Africa, Central America, South America and Asia.
Multi-Managers Proxy Voting Policies and Procedures
Undiscovered Managers Behavioral Value Fund Proxy Voting Policies and Procedures
Security Capital Proxy Voting Procedures and Guidelines