Category: SICAV

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 AUD / 35% MSCI World Index (Total Return Net) Hedged to AUD / 25% Bloomberg Barclays Global Credit Index (Total Return Gross) Hedged to AUD Benchmark uses B Performance comparison. The Sub-Fund may bear little resemblance to the benchmark. B Basis for relative VaR calculations. 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 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. This Share Class seeks to minimise the effect of exchange rate fluctuations between the Sub-Fund's Base Currency and the Share Class Currency. 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