Fund highlights

• Global macroeconomic trends are the primary driver of all asset class returns.


• A dedicated total return investment team.


• Diversified mix of traditional and sophisticated strategies managed within a robust risk framework*.


• Draws on our extensive macroeconomic research.


• Benefits from expertise in multi-asset and total return investing.


• The fund seeks to achieve capital appreciation in excess of its cash benchmark in varying market conditions.


• Ability to limit exposure in periods of market corrections.


*The portfolio risk management process includes an effort to monitor and manage risk, but does not imply low risk.


Top holdings

Coca-Cola0,7%Prologis0,5%
Pfizer0,7%Verizon Communications0,5%
Novartis0,6%FG G67706 3.5% 01 Dec 20470,5%
Merck & Co0,5%VINCI0,4%
FN BM3788 3.5% 01 Mar 20480,5%Total SA0,4%
as of: 31.05.2019

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.


Cumulative performance for the share class A (acc) - EUR. Past performance is not an indication of future performance.
Fund performance is shown based on the NAV of the share class A (acc) - EUR with income (net) reinvested including actual ongoing charges excluding entry and exit fees.


Risk profile

• The value of your investment may fall as well as rise and you may get back less than you originally invested.


• The value of equity securities may go down as well as up in response to the performance of individual companies and general market conditions.


• The Fund may invest in China A-Shares through the Shanghai- Hong Kong Stock Connect program which is subject to regulatory change, quota limitations and also operational constraints which may result in increased counterparty risk.


• The value of debt securities may change significantly depending on economic and interest rate conditions as well as the credit worthiness of the issuer. These risks are typically increased for emerging market and below investment grade debt securities.


• In addition, emerging markets may be subject to increased risks, including less developed custody and settlement practices, higher volatility and lower liquidity than non emerging market securities.


• The value of securities in which the Fund invests may be influenced by movements in commodity prices which can be very volatile.


• Convertible bonds are subject to the credit, interest rate and market risks stated above associated with both debt and equity securities and to risks specific to convertible securities. Convertible bonds may also be subject to lower liquidity than the underlying equity securities.


• The Fund may be concentrated in, and have net long or net short exposure to, industry sectors, markets and/or currencies. As a result, the Fund may be more volatile than more broadly diversified funds.


• The value of financial derivative instruments can be volatile and may result in losses in excess of the amount invested by the Fund.


• Some financial derivative instruments traded on an exchange may be illiquid, and as a result, may need to be held until the contract expires. This may have an adverse impact on the return of the Fund.


• Short selling may be subject to changes in regulations and losses from short positions may be unlimited.


• Movements in currency exchange rates can adversely affect the return of your investment. The currency hedging that may be used to minimise the effect of currency fluctuations may not always be successful.



Investment objective

To achieve capital appreciation in excess of its cash benchmark by investing primarily in securities, globally, using financial derivative instruments where appropriate.

 

Share class
JPM Global Macro Opportunities A (acc) - EUR
ISIN
LU0095938881
Benchmark
ICE 1 Month EUR LIBOR
Fund manager(s)
Shrenick Shah
Fund launch date
23.10.98
Fund size
EUR 4937,8m
Morningstar rating
Not rated
Maximum Total Expense Ratio
1,45%
Performance fee is 0% when the fund return exceeds the benchmark return. Please refer to the Fund’s Prospectus for conditions on the application of the performance fees.
Assets Under Management as of 25.06.2019

Investor profile: Investors in this Fund should have at least a five year investment horizon.


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