Summary of Senior Officer Fee Evaluation - J.P. Morgan Asset Management
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Summary of Senior Officer Fee Evaluation

On August 16, 2017, the J.P. Morgan Funds' Boards of Trustees considered the renewal of the investment advisory agreement for the Funds. The Trustees determined that the overall arrangement between each Fund and its respective advisor, as provided in the advisory agreement, was fair and reasonable, and that the continuance of the investment advisory contract was in the best interests of each Fund and its shareholders. The matters discussed and considered by the Trustees in reaching their conclusions will be summarized in shareholder reports for fiscal periods on, or after, August 31, 2017.

In connection with the renewal of the investment advisory agreements, the Funds listed below retained a Senior Officer to assist the Board of Trustees in reviewing and determining that management fees are reasonable. Stephen M. Ungerman, who also serves as the Chief Compliance Officer for the J.P. Morgan Funds, has served as the Funds' Senior Officer since 2005. The appointment of the Senior Officer is required by Banc One Investment Advisors Corporation's (subsequently known as JPMorgan Investment Advisors, Inc.) settlement with the New York Attorney General in 2004. JPMorgan Investment Advisors, Inc. transferred its business to J.P. Morgan Investment Management Inc. effective January 1, 2010. The Senior Officer provided an independent fee evaluation for the Funds listed below to the J.P. Morgan Funds’ Board at its August 2017 meeting. The Board considered this information in connection with the 2016 annual approval of the investment advisory contracts. You can access the summary of the 2017 Senior Officer's fee evaluation, as well as the summary of the prior year, by clicking on the separate PDF link by Fund below.

 

J.P. Morgan Fund 2017 Senior Officer Fee Summary 2016 Senior Officer Fee Summary

100% U.S. Treasury Securities Money Market Fund  

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Core Bond Fund  

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Core Plus Bond Fund  

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Diversified Fund  

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Equity Income Fund  

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Equity Index Fund  

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Government Bond Fund  

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High Yield Fund  

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Intermediate Tax Free Bond Fund  

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International Equity Fund  

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International Research Enhanced Equity Fund  

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Intrepid Mid Cap Fund  

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Investor Balanced Fund  

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Investor Conservative Growth Fund  

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Investor Growth & Income Fund  

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Investor Growth Fund  

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Large Cap Growth Fund  

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Large Cap Value Fund  

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Limited Duration Bond Fund  

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Liquid Assets Money Market Fund  

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Market Expansion Enhanced Index Fund  

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Mid Cap Growth Fund  

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Mid Cap Value Fund  

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Mortgage-Backed Securities Fund  

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Multi-Cap Market Neutral Fund  

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Municipal Income Fund  

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Municipal Money Market Fund  

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Ohio Municipal Bond Fund  

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Prime Money Market Fund  

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Short Duration Bond Fund  

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Short-Intermediate Municipal Bond Fund  

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Small Cap Growth Fund  

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Small Cap Value Fund  

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Tax Free Bond Fund  

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Treasury & Agency Fund  

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U.S. Equity Fund  

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U.S. Government Money Market Fund  

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U.S. Treasury Plus Money Market Fund  

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