Fund highlights




Expertise

Expertise Highly experienced portfolio managers Bob Michele, Nick Gartside and Iain Stealey are backed by the in-house research of a globally integrated team of over 200 investment professionals.


Portfolio

Provides flexible fixed income exposure across more than 15 sectors and 50 countries, dynamically adjusting its allocation and sensitivity to interest rates as market conditions evolve.


Success

Success Has a track record of attractive returns while managing risk, and can act as a diversifier to traditional bond funds.


HISTORICAL PORTFOLIO POSITIONING (DURATION, YEARS)

Source: J.P. Morgan Asset Management. Dec 16.

     

     

Fund highlights




Expertise

Expertise Highly experienced portfolio managers Bob Michele, Nick Gartside and Iain Stealey are backed by the in-house research of a globally integrated team of over 200 investment professionals.


Portfolio

Provides flexible fixed income exposure across more than 15 sectors and 50 countries, dynamically adjusting its allocation and sensitivity to interest rates as market conditions evolve.


Success

Success Has a track record of attractive returns while managing risk, and can act as a diversifier to traditional bond funds.


     

HISTORICAL PORTFOLIO POSITIONING (DURATION, YEARS)

Source: J.P. Morgan Asset Management. Dec 16.


     

Look beyond traditional fixed income




As growth and inflation expectations have risen, sharp increases in government bond yields have led to losses for some investors, and worries are building that further losses could be around the corner.


Investors may therefore benefit from looking beyond traditional fixed income sectors, choosing a diversified, multi-sector approach that can find opportunities even when interest rates are rising. For example, flexible bond funds can shift their exposure to corporate high yield bonds and emerging market debt as rates increase, taking advantage of the yield cushion they provide and helping investors maintain a positive total return.


     

     

Fund highlights




Expertise

Benefits from the insight of over 70 investment professionals, with a track record of more than 40 years’ experience in multi-asset investing.


Portfolio

A flexible, dynamic and highly diversified multi-asset income solution.


Success

Has consistently provided an attractive income yield far above cash-based investments.


     

Historical income payment and returns

Source: J.P. Morgan Asset Management, Bloomberg as at 28 February 2017.
Fund performance is shown based on the NAV of the share class A in EUR with income (Gross) reinvested including actual ongoing charges excluding any entry and exit fees. Past performance is not an indication of current and future performance.


Source: Guide to the Markets - Europe
Forecasts, projections and other forward looking statements are based upon current beliefs and expectations. They are for illustrative purposes only and serve as an indication of what may occur. Given the inherent uncertainties and risks associated with forecasts, projections and other forward statements, actual events, results or performance may differ materially from those reflected or contemplated.

     

The income challenge is changing




Finding income remains a challenge, with yields on traditional income asset classes still well below the levels investors could expect in the past. However, the landscape has begun to shift as monetary policy expectations in some markets have started to normalise.


While the prospect of higher interest rates is good news for yield-starved income investors, the prices of bonds and some yield-oriented equity sectors may suffer in rising rate environments. This changes the challenge for income investors from simply finding yield to managing the balance between yield, risk and total return. In this environment, active management and a diversified approach are more crucial than ever.




Top holdings

Novartis0,7%Pfizer0,5%
Rio Tinto0,6%Royal Dutch Shell0,5%
HSBC0,6%UPM0,5%
Occidental Petroleum0,6%Tsmc 0.00% 01 Dec 160,5%
Vodafone0,6%Allianz0,4%
as of: 31.01.2018

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. Past performance is not an indication of current and future performance.

Performance (as of: 31.01.2018)

 1 month3 months1 year3 years5 yearsSince inception
Fund0,63%1,36%6,70%10,60%27,04%117,90%
Benchmark1,23%1,94%9,18%19,24%39,36%154,62%
Excess return-0,60%-0,57%-2,27%-7,25%-8,84%-14,42%

Inception: 11 December 2008

Source: J.P. Morgan Asset Management.
Fund performance is shown based on the NAV of the share class with income (Gross) reinvested including actual ongoing charges excluding entry and exit fees. Past performance is not an indication of current and future performance.

Note: A (div) shareclass

Investment objective

To provide regular income by investing primarily in a portfolio of income generating securities, globally, and through the use of financial derivative instruments.

Share class
JPM Global Income A (div) - EUR
ISIN
LU0395794307
Benchmark
40% Bloomberg Barclays US High Yield 2% Issuer Cap Index (Total Return Gross) Hedged to EUR / 35% MSCI World Index (Total Return Net) Hedged to EUR / 25% Bloomberg Barclays Global Credit Index (Total Return Gross) Hedged to EUR
Fund manager(s)
Michael Schoenhaut
Eric Bernbaum
Fund launch date
11.12.08
Fund size
EUR 24376,1m
Morningstar rating
3
Maximum Total Expense Ratio
1,45%
Morningstar Rating™ as of 31.01.2018. © Morningstar. All Rights Reserved.
Assets Under Management as of 23.02.2018

Morningstar Rating™ and Maximum Total Expense Ratio refers to A (acc) - EUR (hedged) share class.

AUM (Assets Under Management) refers to the Fund size.

Benchmark refers to the Fund benchmark.

There can be no assurance that the professionals currently employed by J.P. Morgan Asset Management will continue to be employed by J.P. Morgan Asset Management or that the past performance or success of any such professional serves as an indicator of such professional’s future performance or success.










Risk Profile

  • Returns to investors will vary from year to year, depending on dividend income and capital returns generated by the underlying financial assets.
  • Capital returns may be negative in some years and dividends are not guaranteed.
  • 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. Issuers of debt securities may fail to meet payment obligations or the credit rating of debt securities may be downgraded. These risks are typically increased for emerging market and below investment grade debt securities.
  • In addition, emerging markets may be subject to increased political, regulatory and economic instability, less developed custody and settlement practices, poor transparency and greater financial risks.
  • Emerging market currencies may be subject to volatile price movements.
  • Emerging market and below investment grade debt securities may also be subject to higher volatility and lower liquidity than non emerging market and investment grade debt securities respectively.
  • The credit worthiness of unrated debt securities is not measured by reference to an independent credit rating agency.
  • Contingent Convertible Securities are likely to be adversely impacted should specific trigger events occur (as specified in the contract terms of the issuing company). This may be as a result of the security converting to equities at a discounted share price, the value of the security being written down, temporarily or permanently, and/or coupon payments ceasing or being deferred.
  • Investments in REITs may be subject to increased liquidity risk and price volatility due to changes in economic conditions and interest rates.
  • The value of financial derivative instruments can be volatile. This is because a small movement in the value of the underlying asset can cause a large movement in the value of the financial derivative instrument and therefore, investment in such instruments may result in losses in excess of the amount invested by the fund.
  • 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.


 

Disclaimer

This is a promotional document and as such the views contained herein are not to be taken as an advice or recommendation to buy or sell any investment or interest thereto. Reliance upon information in this material is at the sole discretion of the reader. Any research in this document has been obtained and may have been acted upon by J.P. Morgan Asset Management for its own purpose. The results of such research are being made available as additional information and do not necessarily reflect the views of J.P. Morgan Asset Management. Any forecasts, figures, opinions, statements of financial market trends or investment techniques and strategies expressed are unless otherwise stated, J.P. Morgan Asset Management’s own at the date of this document. They are considered to be reliable at the time of writing, may not necessarily be all-inclusive and are not guaranteed as to accuracy. They may be subject to change without reference or notification to you.
It should be noted that the value of investments and the income from them may fluctuate in accordance with market conditions and taxation agreements and investors may not get back the full amount invested. Changes in exchange rates may have an adverse effect on the value, price or income of the product(s) or underlying overseas investments. Both past performance and yield may not be a reliable guide to current and future performance. There is no guarantee that any forecast made will come to pass. Furthermore, whilst it is the intention to achieve the investment objective of the investment product(s), there can be no assurance that those objectives will be met.
J.P. Morgan Asset Management is the brand name for the asset management business of JPMorgan Chase & Co. and its affiliates worldwide. You should note that if you contact J.P. Morgan Asset Management by telephone those lines may be recorded and monitored for legal, security and training purposes. You should also take note that information and data from communications with you will be collected, stored and processed by J.P. Morgan Asset Management in accordance with the EMEA Privacy Policy which can be accessed through the following website http://www.jpmorgan.com/pages/privacy.
As the product may not be authorized or its offering may be restricted in your jurisdiction, it is the responsibility of every reader to satisfy himself as to the full observance of the laws and regulations of the relevant jurisdiction. Prior to any application investors are advised to take all necessary legal, regulatory and tax advice on the consequences of an investment in the product(s). Shares or other interests may not be offered to or purchased directly or indirectly by US persons. All transactions should be based on the latest available prospectus, the Key Investor Information Document (KIID) and any applicable local offering document. These documents together with the annual report, semi-annual report and the articles of incorporation for the Luxembourg domiciled product(s) are available free of charge upon request from JPMorgan Asset Management (Europe) S.à.r.l., European Bank & Business Centre, 6 route de Trèves, L-2633 Senningerberg, Grand Duchy of Luxembourg, your financial adviser or your J.P. Morgan Asset Management regional contact.
Issued by JPMorgan Asset Management (Europe) Société à responsabilité limitée, European Bank & Business Centre, 6 route de Trèves, L-2633 Senningerberg, Grand Duchy of Luxembourg, R.C.S. Luxembourg B27900, corporate capital EUR 10.000.000.


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