To provide regular income by investing primarily in a portfolio of income generating securities, globally, and through the use of derivatives. Investment approach B Multi-asset approach, leveraging specialists from around JPMorgan Asset Management's global investment platform, with a focus on risk-adjusted income. B Flexible implementation of the managers’ allocation views at asset class and regional level. Share Class 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 Benchmark uses and resemblance B Performance comparison. B Basis for relative VaR calculations. 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 Primarily invests in debt securities (including MBS/ ABS), equities and real estate investment trusts (REITs) from issuers anywhere in the world, including emerging markets. The Sub-Fund is expected to invest between 5% and 25% of its assets in MBS/ ABS of any credit quality. MBS which may be agency (issued by quasi US government agencies) and non-agency (issued by private institutions) refers to debt securities that are backed by mortgages, including residential and commercial mortgages, and ABS refers to those that are backed by other types of assets such as credit card debt, car loans, consumer loans and equipment leases. The Sub-Fund may invest in below investment grade and unrated securities. The Sub-Fund may invest in China A-Shares via the China-Hong Kong Connect Programmes, and in convertible securities and currencies. Dividends are not guaranteed given that returns to investors will vary from year to year depending on dividends paid and capital returns, which could be negative. Other investment exposures Up to 3% in contingent convertible bonds. Derivatives Used for: investment purposes; hedging; efficient portfolio management. Types: see Sub-Fund Derivative Usage table under How the Sub- Funds Use Derivatives, Instruments and Techniques in the Prospectus. TRS including CFD: none. Global exposure calculation method: relative VaR. Expected level of leverage from derivatives: 150% indicative only. Leverage may significantly exceed this level from time to time. Currencies Sub-Fund Base Currency: EUR. Currencies of asset denomination: any. Hedging approach: flexible. Redemption and Dealing Shares of the Sub-Fund may be redeemed on demand, with dealing normally on a daily basis.