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<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>US</strong> <strong>Value</strong> <strong>Equity</strong> <strong>Off</strong>-<strong>shore</strong> <strong>Fund</strong>(an open ended fund of funds scheme)This product is suitable for investors who are seeking*: long-term capital growth investment in equity and equity-related securities of <strong>US</strong> companies high risk (BROWN)*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.Note: Risk may be represented as:(BLUE) investors understand that theirprincipal will be at low risk(YELLOW) investors understand that theirprincipal will be at medium risk(BROWN) investors understand that their principal willbe at high risk


<strong>US</strong> <strong>Equity</strong> Investment Themes 2013Never say never to equitiesRenaissance of <strong>US</strong> industrial manufacturingTechnology-driven innovation cycleGreen shoots in the <strong>US</strong> housing market1


Bonds seem to be the favored asset class from a flow perspective …Difference Between Flows Into Stock and Bond <strong>Fund</strong>sBillions, <strong>US</strong>D, U.S. and international funds, monthly$40$20Bond flows exceeded equity flowsby $6 billion in February 2013$0$20$40$60Sep '08 Jul '09 May '10 Mar '11 Jan '12 Nov '12Source: Investment Company Institute, J.P. <strong>Morgan</strong> <strong>Asset</strong> Management. Data include flows through November 2012 and exclude ETFs. ICI data are subject to periodic revisions. World equity flowsare inclusive of emerging market, global equity and regional equity flows.2


…Valuations however clearly favor equities over bondsPrice-to-earnings ratio – <strong>JP</strong>M normalized earnings*<strong>Equity</strong> risk premiums vs corporate bondsPeak P/E: 26.2Normalized P/E as ofMarch 31, 2013: 12.7Average NormalizedP/E: 16.1Trough P/E: 8.4<strong>Equity</strong> risk premium is equal to J.P. <strong>Morgan</strong> <strong>Asset</strong> Management Dividend Discount Rate on S&P 500 stocks, less current yield to maturity on 10-year U.S. Treasury bonds and BAA Corporate bonds.A dividend discount rate (DDR) is the discount rate which equates the present value of the estimated stream of future dividends to the current market price. The J.P. <strong>Morgan</strong> S&P 500 DDR is abottom-up, sector-neutral and capitalisation weighted average of dividend discount rates (DDRs) on large-capitalisation stocks as estimated by J.P. <strong>Morgan</strong> <strong>Asset</strong> Management equity researchanalysts. A DDR does not represent a stock's expected actual return in any given time period. Based on the bottom-up earnings projections of S&P 500 companies for the normalized year (2012) byJ.P. <strong>Morgan</strong> large cap analysts Source: J.P. <strong>Morgan</strong> <strong>Asset</strong> Management, Bloomberg. As of March 31, 2013. For illustrative purposes only. *J.P. <strong>Morgan</strong> <strong>Asset</strong> Management3


The stock market shouldn’t be hurt by rising rates from low levelsSource: J.P. <strong>Morgan</strong> <strong>Asset</strong> Management Guide to the Markets – <strong>US</strong>, Standard & Poor’s, <strong>US</strong> Treasury, FactSet, J.P. <strong>Morgan</strong><strong>Asset</strong> Management. Returns are based on price index only and do not include dividends.Data are as of 3/31/13.4


Global companies are increasing and relocatingmanufacturing (MFG) capacity to North AmericaWage gapMfg compensation costs in U.S. dollars, indexed to 0 in 2000Source: ISI International Strategy & Investment. Shown for illustrative purposes only. As of June 20125


New technology is dramatically increasing the supplyof shale gas and oil in the <strong>US</strong>Source: Energy Information Administration based on data from various published studies. Updated: May 9, 20116


<strong>US</strong> Natural Gas<strong>US</strong> natural gas productionTrillions of cubic feet per year302520EIAforecastShale GasTotal <strong>US</strong> energy net imports$ of total energy consumption30EIA25forecast20151050'90 '95 '00 '05 '10 '15 '201510Other501990 1995 2000 2005 2010 2015 2020 2025Natural gas prices by countryIndustry, $<strong>US</strong> per MWh*706054.4504035.53020 15.4 17.0100Canada <strong>US</strong> UK Germany60.2KoreaNote: *MWh represents megawatt hour. Source: EIA, BP, Federal Energy Regulatory Commission, J.P. <strong>Morgan</strong> <strong>Asset</strong> Management.7


Stabilization of the housing marketHome PricesIndexed to 100, seasonally adjusted16015014013012011010090Case Shiller 20-cityFHFA Purchase OnlyAverage Existing Home'03 '04 '05 '06 '07 '08 '09 '10 '11 '12Monthly Rent vs. Monthly Mortgage PaymentVacant properties$1,100Monthly$950Mortgage$800Payment$650$500$350Monthly Rent$200‘88 ‘90 ‘92 ‘94 ‘96 ‘98 ‘00 ‘02 ‘04 ‘06 ‘08 ‘10 ‘12Home InventoriesMillions, annual rate, seasonally adjusted4.5'94 '96 '98 '00 '02 '04 '06 '08 '10 '12Sources: (Left) National Association of Realtors, Standard & Poor’s, FHFA, FactSet, J.P. <strong>Morgan</strong> <strong>Asset</strong> Management. (Top right) Census Bureau, J.P. <strong>Morgan</strong> <strong>Asset</strong> Management. Monthlymortgage payment assumes a 20% down payment at prevailing 30-year fixed-rate mortgage rates; analysis based on median asking rent and median mortgage payment based on asking price.(Bottom right) Census Bureau, National Association of Realtors, J.P. <strong>Morgan</strong> <strong>Asset</strong> Management. *1Q13 rent and mortgage payment values are J.P. <strong>Morgan</strong> <strong>Asset</strong> Management estimates.Data are as of 3/31/13.4.03.53.02.52.01.51Q13*:$7261Q13*:$507Feb. 2013: 2.28


Economic data points appear to be turningHousehold net worthHousehold assets minus liabilities, Federal Reserve Flow of <strong>Fund</strong>sBillions <strong>US</strong>D,$80,000$70,0003Q07:$67,4131Q13*:$69,210$60,000$50,000$40,000$30,000$20,000$10,000'90 '92 '94 '96 '98 '00 '02 '04 '06 '08 '10 '12Source: Bloomberg; as of 3/31/13. Shown for illustrative purposes only. BEA, FRB, J.P. <strong>Morgan</strong><strong>Asset</strong> Management . *1Q13 household debt service ratio and household net worth are J.P.<strong>Morgan</strong> <strong>Asset</strong> Management estimates. <strong>Value</strong>s may not sum to 100% due to rounding.Source: Bureau of Economic analysis, <strong>US</strong> Federal Reserve, FactSet, National Association ofRealtors, <strong>US</strong> Census Bureau, J.P. <strong>Morgan</strong> <strong>Asset</strong>Management “Guide to the Markets – Asia."* 1Q13 Household Net Worth is a J.P. <strong>Morgan</strong> <strong>Asset</strong> Management estimate.(Bottom Left) Latest DSR data is for December 2012.(Right) Price index is the median home sale price.Data reflect most recently available as of 31/3/13.9


Despite headwinds: <strong>US</strong> equity market returns… are actually quite good!S&P 500 index, trailing returns, annualised, in <strong>US</strong>DSource: J.P. <strong>Morgan</strong> <strong>Asset</strong> Management; Bloomberg. Data as of March 31, 2013. The charts and/or graphs shown above the presentation are for illustration and discussion purposes only. Indices donot include fees or operating expenses and are not available for actual investment. Past performance is not an indication of future performance.10


Economic Growth and the Composition of GDPReal GDPComponents of GDP% chg at annual rate 4Q12 nominal GDP, billions <strong>US</strong>D10% 20-yr avg. 4Q12Real GDP: 2.5% 0.4%8%6%4%2%$625bn ofoutput lost$18,000$16,000$14,000$12,000$10,0002.6% Housing10.6 % Investment ex-housing19.2%Gov’t Spending0%$8,000-2%-4%$964bn ofoutputrecovered$6,000$4,00070.9%Consumption-6%$2,000-8%-10%'04 '06 '08 '10 '12$0-$2,000-3.3% Net ExportsSource: BEA, FactSet, J.P. <strong>Morgan</strong> <strong>Asset</strong> Management.GDP values shown in legend are % change vs. prior quarter annualized and reflect 4Q12 GDP.Data are as of 3/31/13.Forecasts, projections and other forward looking statements are based upon current beliefs and expectations. They are for illustrative purposes only and serve as an indication of what may occur.Given the inherent uncertainties and risks associated with forecasts, projections and other forward statements, actual events, results or performance may differ materially from those reflected orcontemplated.11


We see increasing signs of recovery in cyclical sectorsLight Vehicle SalesMillions, seasonally adjusted annual rate24222018161412108Housing StartsThousands, seasonally adjusted annual rate2,4002,0001,6001,2008004000Average: 15.2'94 '96 '98 '00 '02 '04 '06 '08 '10 '12Average: 1,380Feb. 2013:15.3Feb. 2013:917Change in Private InventoriesBillions of 2005 dollars, seasonally adjusted annual rate$1504Q12: 13.3$100$50$0$-50Average: 28.7$-100$-150$-200'95 '00 '05 '10Real Capital Goods OrdersNon-defense capital goods orders ex. aircraft, <strong>US</strong>D bn, seasonally adjusted$75$70Feb. 2013:$65$60Average: 57.257.6$55$50$45$40'95 '00 '05 '10Source: (Top left) BEA, FactSet, J.P. <strong>Morgan</strong> <strong>Asset</strong> Management. (Top right) Census Bureau, FactSet, J.P. <strong>Morgan</strong> <strong>Asset</strong> Management. (Bottom left) Census Bureau,FactSet, J.P. <strong>Morgan</strong> <strong>Asset</strong> Management. (Bottom right) Census Bureau, FactSet, J.P. <strong>Morgan</strong> <strong>Asset</strong> Management.Capital goods orders deflated using the producer price index for capital goods.Data are as of 3/31/13.'00 '02 '04 '06 '08 '10 '1212


Corporate profitsS&P 500 Earnings Per ShareOperating basis, quarterly2Q07: $24.06$264Q12: $23.16Adjusted After – Tax Corporate Profits (% of GDP)Includes inventory and capital consumption adjustments11%4Q12:9.9%$2310%$209%$178%$14$11$8$5$27%6%5%4%50-yr. avg.: 6.2%- $1'02'04'06'08'10'123%'65 '70 '75 '80 '85 '90 '95 '00 '05 '10Source: Standard & Poor’s, Compustat, BEA, J.P. <strong>Morgan</strong> <strong>Asset</strong> Management EPS levels are based on operating earnings per share. Most recently available data is 3Q12 as 4Q12 are Standard &Poor’s estimates with 99.8% of companies reported. Past performance is not indicative of future returns.Data are as of 3/31/13.13


<strong>US</strong> equities look attractive versus long term averagesS&P 500 Index: Forward P/E Ratiox25 31 Jan 2000:24,4x2031 May 2013:14,4x15Average since 1989:15,7x10'89 '91 '93 '95 '97 '99 '01 '03 '05 '07 '09 '11Source: Tullett Prebon, IBES, FactSet, J.P. <strong>Morgan</strong> <strong>Asset</strong> Management.Forward P/E ratio is a bottom up calculation based on the most recent price data divided by consensus estimates for earnings in the next 12 months and is provided by IBES.14


Invest in J.P. <strong>Morgan</strong> <strong>Asset</strong> Management’s home market!1. <strong>US</strong> Economy gathering momentum2. Corporate America is in great shape3. Attractive valuation15


Quality never goes out of style!Quality of the underlying business iswhat matters long-termWhy you should think about investing “nonmainstream”Stock picking is key… Make use of our experienced portfolio managers to navigate through volatile times!16


<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>US</strong> <strong>Value</strong> <strong>Equity</strong> <strong>Off</strong>-<strong>shore</strong> <strong>Fund</strong>(an open ended fund of funds scheme)17


Investing with J.P. <strong>Morgan</strong>’s <strong>Equity</strong> PlatformOur profile: Deeply resourced, research driven, global manager with decades of institutional investment experience• Strong belief and commitment to active management$157 bn in U.S. <strong>Equity</strong> <strong>Asset</strong>s• Extensive, well-resourced research– Over $150 million annual research budget– Local focus with global inputs from research teamsin Asia and Europe• Investment performance culture– Performance drives compensation– <strong>Equity</strong> investment teams invest alongside clients in their portfolios• Experience and stability– Investment professionals – average tenure:15 years industry / 10 years <strong>JP</strong>M• Strategy highlights– America <strong>Equity</strong>– <strong>US</strong> Growth– <strong>US</strong> <strong>Value</strong>– Research Enhanced IndexNote: Total assets exclude certain Private Bank assets. Core assets include REITs. Growth assets include all Active Mid and Small Cap strategies. AUM as of March 31, 2013.18


<strong>US</strong>-<strong>JP</strong>MF-<strong>US</strong> <strong>Value</strong> <strong>Fund</strong> (EC 29.10.2012)Quality and value drive our investment philosophyQualityConsistent earningsand cash flowP/EFree CashFlow Yield<strong>Value</strong>high return oncapital employedRelatively lowcyclicality<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Fund</strong>s –<strong>US</strong> <strong>Value</strong>*P/BPrivate marketvalue analysisManagementfocused onincreasing intrinsicvalue per shareEnterprise<strong>Value</strong> analysisStrong portfolio returns with less volatility than the market*<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Fund</strong>s – <strong>US</strong> <strong>Value</strong> <strong>Fund</strong> is the underlying fund of <strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>US</strong> <strong>Value</strong> <strong>Equity</strong> <strong>Off</strong>-<strong>shore</strong> fund (an open ended fund offunds scheme)19


Overview of the <strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Fund</strong>s - <strong>US</strong> <strong>Value</strong> <strong>Fund</strong>(underlying fund of <strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>US</strong> <strong>Value</strong> <strong>Equity</strong> <strong>Off</strong>-<strong>shore</strong> <strong>Fund</strong>)• Putting stock selection first – Focus on high quality companies with attractive valuations• A seasoned portfolio manager – Jonathan Simon has managed the <strong>Fund</strong> since its launch• <strong>Fund</strong>amental research is key – Supported by an experienced team of 26 <strong>US</strong> equity career research analysts• Strong risk adjusted returns – during both cyclical downturns and subsequent recoveriesThere can be no assurance that the professionals currently employed by J.P. <strong>Morgan</strong> <strong>Asset</strong> Management will continue to be employed by J.P. <strong>Morgan</strong> <strong>Asset</strong> Management or that the pastperformance or success of any such professional serves as an indicator of such professional’s future performance or success. The targets and aims provided above are the Investment Manager’stargets and aims only and are not necessarily part of the <strong>Fund</strong>’s investment objectives and policies as stated in the prospectus. There is no guarantee that these will be achieved.20


<strong>US</strong>-<strong>JP</strong>MF-<strong>US</strong> <strong>Value</strong> <strong>Fund</strong> (EC 29.10.2012)A stable and experienced <strong>US</strong> equity teamPortfolio Management TeamFinanceConsumerJonathan SimonLead-PMExperienceIndustry: 32 yrsFirm: 32 yrsClare HartBack up PMExperienceIndustry: 20 yrsFirm: 14 yrsUrmas WompaRegional BanksExperienceIndustry: 29 yrsFirm: 26 yrsJason KoREITsExperienceIndustry: 11 yrsFirm: 11 yrsKathleen StackConsumer StableExperienceIndustry: 35 yrsFirm: 32 yrsTim GamacheConsumerExperienceIndustry: 8 yrsFirm: 8 yrsJames BrownBasic MaterialsExperienceIndustry: 28 yrsFirm: 25 yrsNishesh KumarEnergyExperienceIndustry: 16 yrsFirm: 15 yrsLeslie RichUtilitiesExperienceIndustry: 20 yrsFirm: 3 yrDavid MaccarroneInfrastructureExperienceIndustry: 18 yrsFirm: 2 yrIndustrialsDavid PasqualeIndustrial CyclicalsExperienceIndustry: 16 yrsFirm: 7 yrsLerone VincentBasic MaterialsExperienceIndustry: 14 yrsFirm: 14 yrsAndrew MillerAutos & TransportExperienceIndustry: 8 yrsFirm: 8 yrsSteven LeeAutos & TransportExperienceIndustry: 19 yrsFirm: 8 yrsSteven WhartonCapital MarketsExperienceIndustry: 17 yrsFirm: 7 yrsDavid SmallInsuranceExperienceIndustry: 12 yrsFirm: 8 yrsHealthcareDr. Scott BraunsteinPharma/ BiotechExperienceIndustry: 22 yrsFirm: 11 yrsLaurence McGrathHealth Svcs/MedtechExperienceIndustry:16 yrsFirm: 2 yrsJulie HoREITsExperienceIndustry: 8 yrsFirm: 8 yrsMatt PerryHealthcareExperienceIndustry: 12 yrsFirm: 2yrsKris EricksonMediaExperienceIndustry:12 yrsFirm:


Quality and value drive our investment philosophyQuality Business Quality Management ValuationWe focus on quality first:• durable business model• consistent earnings• high return on invested capitalManagement is key:• good stewards of capital• long term strategic plan• track record of successValuation is critical:• Price/earnings• Price/book value• Free cashflow yield22


Sector breakdownAs at 31 May 2013Sector absolute and relative 1 weightsSource: Wilshire.1Reflects relative position to the Russell 1000 <strong>Value</strong> Index.23


What do we find interesting in the <strong>Value</strong> space?• Financials– We believe earnings are depressed by historically low interest rates. As both loan and securities yields increase in amore normal environment there should be a dramatic improvement in the profits of most banks, insurers and assetmanagement companies• Traditional retail / commercial banking: Wells Fargo• Undervalued insurers: Travelers• <strong>Asset</strong> managers / trust banks: Ameriprise Financial• Consumer Discretionary– Particular emphasis on specialty retailers which have a <strong>US</strong> focus on expectations of stronger <strong>US</strong> economic growth• Auto resurgence: AutoZone• Home building boom: Home Depot• Discount retailers: Kohl’sThe stocks mentioned above are meant for illustration purposes only and should not be construed as stock recommendation. They may or may not necessarily form part of the portfolios of any fundsof <strong><strong>JP</strong><strong>Morgan</strong></strong> Mutual <strong>Fund</strong>. Also, the same should not be construed as an investment advice.Source: J.P. <strong>Morgan</strong> <strong>Asset</strong> Management24


Portfolio at a glanceAs at 31 May 2013Top 5 overweights 1<strong>Fund</strong> Weight % DifferenceWells Fargo 4.1 1.8AutoZone 1.6 1.6Kohl's 1.7 1.5Capital One Financial 1.9 1.5Loews 1.6 1.4Top 5 underweights 1<strong>Fund</strong>Weight% DifferenceGeneral Electric* 0.0 -2.9<strong><strong>JP</strong><strong>Morgan</strong></strong> Chase2 0.0 -2.4Berkshire Hathaway 0.9 -1.5Goldman Sachs* 0.0 -0.9Occidental Petroleum* 0.0 -0.9Top 10 Holdings %Exxon Mobil 4.1Wells Fargo 4.1Chevron 2.8AT&T 2.4Bank of America 2.4Pfizer 2.3Johnson & Johnson 2.0Capital One Financial 1.9Procter & Gamble 1.9Merck 1.9Source: Wilshire, J.P. <strong>Morgan</strong> <strong>Asset</strong> Management. 1 Relative to the Russell 1000 <strong>Value</strong> Index.*Indicates stock not held in the <strong>Fund</strong> as of 31 May 2013.The above portfolio characteristics are shown for illustrative purposes only and are subject to change without notice. 2 Due to regulatory reasons, the portfolio is unable to hold <strong><strong>JP</strong><strong>Morgan</strong></strong> Chase.The stocks mentioned above are meant for illustration purposes only and should not be construed as stock recommendation. They may or may not necessarily form part of the portfolios of any fundsof <strong><strong>JP</strong><strong>Morgan</strong></strong> Mutual <strong>Fund</strong>. Also, the same should not be construed as an investment advice.25


Portfolio characteristics and style analysisAs at 31 May 2013Portfolio Index*Wgtd Avg Market Cap <strong>US</strong>D93.8b <strong>US</strong>D98.3bPrice / Earnings, 12-mth fwd 1 13.1x 13.3xEPS growth, 12-mth fwd 10.0% 8.3%Return on <strong>Equity</strong>, trailing 12-mth 14.5% 12.3%Dividend Yield 2.3% 2.4%Number of holdings 96 697Turnover, 12-mth trailing 19.2%Beta, trailing 3 year 2 0.87Tracking Error, trailing 3 year 2 2.50Market capitalisationManager StyleMarch 2010 – March 2013 (Single Computation)Large210-1-2Russell 1000<strong>Value</strong>Russell 2000<strong>Value</strong>Russell 1000GrowthRussell 2000GrowthLarge<strong>Value</strong> -2 -1 0 1 2 Growth<strong>US</strong> <strong>Value</strong> Russell 1000 <strong>Value</strong> Net Russell Generic CornersSource: Zephyr.Source: Factset, J.P. <strong>Morgan</strong> <strong>Asset</strong> Management. *Russell 1000 <strong>Value</strong> Index. 1 Including negatives. 2 <strong>Fund</strong> risk data is based on the Performance NAV gross of fee returns and are not based onofficial NAV. The above portfolio characteristics are shown for illustrative purposes only and are subject to change without notice.26


Stock selection is the primary driver of returnsAnnualised sector attribution – since inception31 October 2000 through 31 May 2013Stock Selection Sector Selection TotalFinancials 1.10 0.17 1.27Materials 0.29 0.00 0.29Consumer Discretionary 0.21 0.01 0.22Utilities 0.24 -0.08 0.16Information Technology 0.07 0.02 0.10Telecom Services 0.06 -0.02 0.04Industrials -0.05 0.04 -0.01Energy -0.02 0.00 -0.02Consumer Staples 0.04 -0.08 -0.04Health Care 0.00 -0.09 -0.09Total 1.93 0.01 1.94Inception is 20 October, 2000Attribution is annualizedSource: J.P. <strong>Morgan</strong> <strong>Asset</strong> Management, Wilshire AtlasThe above portfolio characteristics are shown for illustrative purposes only and are subject to change without notice. Attributions may not match official returns due to differences in systems rounding.27


Underlying <strong>Fund</strong> Performance (<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Fund</strong>s – <strong>US</strong> <strong>Value</strong> <strong>Fund</strong>)PeriodPeriodScheme Returns(INR)^Since Inception till June 30,2013 10.11% 8.74%Scheme Returns(<strong>US</strong>D)#BenchmarkReturns (INR)*June 30, 2012 to June 30, 2013 30.69% 32.39%*June 30, 2011 to June 30, 2012 33.14% 27.69%*June 30, 2010 to June 30, 2011 21.62% 23.22%^Since Inception till June 30,2013 7.05% 5.72%#BenchmarkReturns (<strong>US</strong>D)*June 30, 2012 to June 30, 2013 22.80% 24.39%*June 30, 2011 to June 30, 2012 6.59% 2.23%*June 30, 2010 to June 30, 2011 26.36% 28.03%#Benchmark Name – Russell 1000 <strong>Value</strong> IndexData as of June 30th 2013 | Underlying <strong>Fund</strong> – <strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Fund</strong>s - <strong>US</strong> <strong>Value</strong> <strong>Fund</strong> (Share Class C – Unhedged).Allotment Date: 1 st Sep 2004 .^ CAGR Returns, * Absolute Returns.Note: Since inception returns have been calculated from the date of allotment.28Past performance may or may not be sustained in future


Product FeaturesScheme ObjectiveThe primary investment objective of the Scheme is to seek to provide longterm capital growth by investing predominantly in the <strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Fund</strong>s – <strong>US</strong><strong>Value</strong> <strong>Fund</strong>, an equity fund which invests primarily in a value style biasedportfolio of <strong>US</strong> companies. However, there can be no assurance that theinvestment objective of the Scheme will be realized.NFO Opens 17th July 2013NFO Closes 31st July 2013Nature of the SchemeAn Open Ended <strong>Fund</strong> of <strong>Fund</strong> SchemesBenchmarkIndian Rupee equivalent of Russell 1000 <strong>Value</strong> IndexLoad Structure (as % of NAV) - For NFO & Ongoing BasisEntry LoadNILExit Load1% if redeemed/switched out within 18 months from the date of allotmentMinimum Application/Redemption Amount of The SchemeInitial Application AmountRs.5,000/- per application and in multiples of Re.1/- thereafter.Additional Application AmountRs.1,000/- per application and in multiples of Re.1/- thereafter.Amount/No. of Units for RedemptionRs.1,000/- or 100 Units or the account balance, whichever is lowerOther DetailsSIP Dates (Systematic Investment Plan)1st, 10th, 15th, 25th of every monthSTP Dates (Systematic Transfer Plan)1st (default), 10th, 15th, 25th of every monthFrequency - Daily, Weekly, Fortnightly, Monthly (default)SWP Dates (Systematic Withdrawal Plan)1st (default), 10th, 15th, 25th of every monthFrequency - Monthly (default), Quarterly29


DisclaimersThis is a promotional document and as such the views contained herein are not to be taken as an advice or recommendation to buyor sell any investment or interest thereto. Reliance upon information in this material is at the sole discretion of the reader. Anyresearch in this document has been obtained and may have been acted upon by J.P. <strong>Morgan</strong> <strong>Asset</strong> Management for its ownpurpose. The results of such research are being made available as additional information and do not necessarily reflect the views ofJ.P. <strong>Morgan</strong> <strong>Asset</strong> Management. Any forecasts, figures, opinions, statements of financial market trends or investment techniquesand strategies expressed are unless otherwise stated, J.P. <strong>Morgan</strong> <strong>Asset</strong> Management’s own at the date of this document. They areconsidered to be reliable at the time of writing, may not necessarily be all-inclusive and are not guaranteed as to accuracy. They maybe subject to change without reference or notification to you. It should be noted that the value of investments and the income fromthem may fluctuate in accordance with market conditions and taxation agreements and investors may not get back the full amountinvested. Changes in exchange rates may have an adverse effect on the value, price or income of the product(s) or underlyingoverseas investments. Both past performance and yield may not be a reliable guide to future performance. There is no guaranteethat any forecast made will come to pass. Investors are advised to consult their Investment and Tax Advisor before taking anyinvestment decision.Furthermore, whilst it is the intention to achieve the investment objective of the investment product(s), there can be no assurancethat those objectives will be met. <strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Asset</strong> Management India Pvt. Ltd. offers only the units of the schemes under <strong><strong>JP</strong><strong>Morgan</strong></strong>Mutual <strong>Fund</strong>, a mutual fund registered with SEBI.<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Fund</strong>s – <strong>US</strong> <strong>Value</strong> <strong>Fund</strong> is an underlying fund for <strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>US</strong> <strong>Value</strong> <strong>Equity</strong> <strong>Off</strong>-<strong>shore</strong> <strong>Fund</strong> launched in India.Mutual <strong>Fund</strong> investments are subject to market risks, read all scheme related documents carefully.30

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