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.
