Category: SICAV

To provide long-term capital growth by investing primarily in a concentrated portfolio of US companies. Investment approach B Uses a fundamental, bottom-up stock selection process. B Concentrated, high-conviction portfolio that seeks to identify the most attractive investment ideas from the value and growth investment universes. Share Class Benchmark S&P 500 Index (Total Return Net of 30% withholding tax) Benchmark uses and resemblance B Performance comparison. The Sub-Fund is actively managed. Though the majority of its holdings (excluding derivatives) are likely to be components of the benchmark, the Investment Manager has broad discretion to deviate from its securities, weightings and risk characteristics. The degree to which the Sub-Fund may resemble the composition and risk characteristics of the benchmark will vary over time and its performance may be meaningfully different. POLICIES Main investment exposure At least 67% of assets invested in equities of companies that are domiciled, or carrying out the main part of their economic activity, in the US. The Sub-Fund will invest in approximately 20 to 40 companies. Other investment exposures Canadian companies. Derivatives Used for: efficient portfolio management; hedging. Types: see Sub- Fund Derivatives Usage table under How the Sub-Funds Use Derivatives, Instruments and Techniques in the Prospectus. TRS including CFD: none. Global exposure calculation method: commitment. Currencies Sub-Fund Base Currency: USD. Currencies of asset denomination: typically USD. Hedging approach: not applicable. Redemption and Dealing Shares of the Sub-Fund may be redeemed on demand, with dealing normally on a daily basis. Distribution Policy This Share Class does not pay dividends. Earned income is retained in the NAV. For an explanation of some of the terms used in this document, please visit the glossary on our website at www.jpmorganassetmanagement.lu