JPMorgan – JPMorgan Funds (SICAV Range) Audited Financial Reports as at 30 June 2020

Notice to Shareholders

The fund manager is writing to inform you about the following changes in relation to:

Changes to JPMorgan Funds – Global Unconstrained Equity Fund (the “Sub-Fund”)
1.Amendment to the investment objective and policy of the Sub-Fund

a) With effect from 1 April 2021 (the “Effective Date”), the investment objective of the Sub-Fund will be changed such that the Sub-Fund seeks to provide long-term capital growth by investing primarily in a growth style biased portfolio of companies, globally. The Management Company believes that focusing the investment approach into a growth style biased approach that seeks to identify companies with superior and sustainable growth potential will give the Sub-Fund increased prospectus for growth.

b) In connection with the change of investment objective, the investment policy of the Sub-Fund will be changed from the Effective Date to provide that at least 67% of the Sub-Fund’s assets (excluding cash and cash equivalents) will be invested in a portfolio of growth style biased equity securities and that the Sub-Fund may be concentrated in a limited number of securities.
As a result of the above changes, the Sub-Fund will no longer be subject to risks associated with being aggressively managed. Instead, the Sub-Fund may have greater volatility compared to broader market indices as a result of the Sub-Fund’s focus on growth securities.

2.Change of name of the Sub-Fund
As a result of point (1) above, the name of the Sub-Fund will be changed to “JPMorgan Funds – Global Growth Fund” from the Effective Date.

Sub-Fund share class name prior to the Effective Date Sub-Fund share class name on and from the Effective Date ISIN Code
JPM Global Unconstrained Equity A (acc) – USD JPM Global Growth A (acc) – USD LU0210533765
JPM Global Unconstrained Equity A (acc) – SGD JPM Global Growth A (acc) – SGD LU1111380280

3.Change of benchmark of the Sub-Fund
The benchmark of the Sub-Fund will be changed from “MSCI All Country World Index (Total Return Net)” to “MSCI All Country World Growth Index (Total Return Net)” from the Effective Date. For the avoidance of doubt, the benchmark is a point of reference against which the performance of the Sub-Fund may be measured. The Sub-Fund is actively managed.

There will be no implications on the features and risks applicable to the Sub-Fund or change in the operation and/or manner in which the Sub-Fund is being managed or change in the fee level/cost in managing the Sub-Fund. The above changes will not materially prejudice the interests of existing investors of the Sub-Fund.

The legal and other administrative costs associated with the changes above will be borne by the Sub-Fund.

As a consequence of the above changes, shareholders of the Sub-Fund will be allowed to redeem and/or switch their units, free of charge, into any other funds which are managed by JPMorgan Asset Management (Singapore) Limited or for which it acts as representative and which are registered with the MAS for sale to the public in Singapore from 28 January 2021 to 31 March 2021.

For more details, please read the shareholder notification letter.

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This material is provided by Phillip Capital Management (S) Ltd (“PCM”) for general information only and does not constitute a recommendation, an offer to sell, or a solicitation of any offer to invest in any of the exchange-traded fund (“ETF”) or the unit trust (“Products”) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. You should read the Prospectus and the accompanying Product Highlights Sheet (“PHS”) for key features, key risks and other important information of the Products and obtain advice from a financial adviser (“FA“) pursuant to a separate engagement before making a commitment to invest in the Products. In the event that you choose not to obtain advice from a FA, you should assess whether the Products are suitable for you before proceeding to invest. A copy of the Prospectus and PHS are available from PCM, any of its Participating Dealers (“PDs“) for the ETF, or any of its authorised distributors for the unit trust managed by PCM.  

An ETF is not like a typical unit trust as the units of the ETF (the “Units“) are to be listed and traded like any share on the Singapore Exchange Securities Trading Limited (“SGX-ST”). Listing on the SGX-ST does not guarantee a liquid market for the Units which may be traded at prices above or below its NAV or may be suspended or delisted. Investors may buy or sell the Units on SGX-ST when it is listed. Investors cannot create or redeem Units directly with PCM and have no rights to request PCM to redeem or purchase their Units. Creation and redemption of Units are through PDs if investors are clients of the PDs, who have no obligation to agree to create or redeem Units on behalf of any investor and may impose terms and conditions in connection with such creation or redemption orders. Please refer to the Prospectus of the ETF for more details.  

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Where applicable, fund(s) may invest in financial derivatives and/or participate in securities lending and repurchase transactions for the purpose of hedging and/or efficient portfolio management, subject to the relevant regulatory requirements. PCM reserves the discretion to determine if currency exposure should be hedged actively, passively or not at all, in the best interest of the Products.  

The regular dividend distributions, out of either income and/or capital, are not guaranteed and subject to PCM’s discretion. Past payout yields and payments do not represent future payout yields and payments. Such dividend distributions will reduce the available capital for reinvestment and may result in an immediate decrease in the net asset value (“NAV”) of the Products. Please refer to <> for more information in relation to the dividend distributions.  

The information provided herein may be obtained or compiled from public and/or third party sources that PCM has no reason to believe are unreliable. Any opinion or view herein is an expression of belief of the individual author or the indicated source (as applicable) only. PCM makes no representation or warranty that such information is accurate, complete, verified or should be relied upon as such. The information does not constitute, and should not be used as a substitute for tax, legal or investment advice.  

The information herein are not for any person in any jurisdiction or country where such distribution or availability for use would contravene any applicable law or regulation or would subject PCM to any registration or licensing requirement in such jurisdiction or country. The Products is not offered to U.S. Persons. PhillipCapital Group of Companies, including PCM, their affiliates and/or their officers, directors and/or employees may own or have positions in the Products. Any member of the PhillipCapital Group of Companies may have acted upon or used the information, analyses and opinions herein before they have been published. 

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Phillip Capital Management (S) Ltd (Co. Reg. No. 199905233W)  
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