JPMorgan Funds Audited Annual Report - JP Morgan Asset ...
JPMorgan Funds Audited Annual Report - JP Morgan Asset ...
JPMorgan Funds Audited Annual Report - JP Morgan Asset ...
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<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong><br />
Notes to the Unaudited Financial Statements (continued)<br />
As at 31 December 2013<br />
11. Information for Swiss Registered Shareholders<br />
J.P. <strong>Morgan</strong> (Suisse) S.A. was authorised by the Swiss Financial Market Supervisory Authority (FINMA) as Swiss representative of the SICAV and acts also as<br />
paying agent. The current prospectus, the current Key Investor Information Documents, the articles, the annual and semi-annual reports of the SICAV,as<br />
well as a list of the purchases and sales which the SICAV has undertaken during the financial period may be obtained, on simple request and free of charge,at<br />
the head office of the Swiss representative of the SICAV, J.P. <strong>Morgan</strong> (Suisse) S.A., 8, rue de la Confédération, CH-1204 Geneva, Switzerland.<br />
Payments/compensations (trailer fees) can be paid out from the management fee for the distribution/marketing of the investment fund to distributors.<br />
Reimbursements/rebates can be granted out of the management fee to institutional investors who hold the Sub-Fund shares for the economic benefit of<br />
third parties.<br />
12. Information for German Registered Shareholders<br />
A list, specifying for each investment within each Sub-Fund the total purchases and sales which occurred during the financial period, may be obtained free of<br />
charge upon request at the registered office of the SICAV and at the office of the German paying and information agent, J.P. <strong>Morgan</strong> AG, Junghofstraße 14,<br />
D-60311 Frankfurt am Main. Additional information on investments within each Sub-Fund’s portfolio is available to shareholders at the registered office of<br />
the SICAV and at the office of the German paying and information agent.<br />
13. Authorisation of Sub-<strong>Funds</strong> in Hong Kong<br />
The following Sub-<strong>Funds</strong> are authorised in Hong Kong and available to Hong Kong Residents:<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - America Equity Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Global Dynamic Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Asia Local Currency Debt Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Global Focus Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Asia Pacific Income Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Global Government Bond Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Brazil Equity Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Global Natural Resources Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - China Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Global Real Estate Securities Fund (USD)<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Eastern Europe Equity Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Global Unconstrained Equity Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Emerging Europe, Middle East and Africa Equity Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Greater China Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Emerging Markets Debt Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Hong Kong Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Emerging Markets Dividend Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - India Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Emerging Markets Equity Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Indonesia Equity Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Emerging Markets Investment Grade Bond Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Japan Equity Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Emerging Markets Local Currency Debt Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Korea Equity Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Emerging Markets Opportunities Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Latin America Equity Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Emerging Middle East Equity Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Russia Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Euroland Equity Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Singapore Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Euroland Select Equity Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Taiwan Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Europe Dynamic Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - US Aggregate Bond Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Europe Equity Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - US Growth Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Europe Small Cap Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - US High Yield Plus Bond Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Europe Technology Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - US Small Cap Growth Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Germany Equity Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - US Technology Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Global Consumer Trends Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - US Value Fund<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Global Convertibles Fund (EUR)<br />
14. Significant Events<br />
a) Sub-Fund Mergers<br />
The following mergers occurred with effect from 25 October 2013:<br />
- <strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Emerging Markets Infrastructure Equity Fund into <strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Emerging Markets Equity Fund;<br />
- <strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Europe Dynamic Mega Cap Fund into <strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Europe Dynamic Fund.<br />
b) Sub-Fund Currency Change<br />
With effect from 2 December 2013, the base currency of the Sub-Fund <strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Japan Equity Fund changed from USD to <strong>JP</strong>Y.<br />
c) Other Information<br />
With effect from 1 July 2013, the Management Company has stopped the accrual of the following Sub-<strong>Funds</strong>’ performance fees:<br />
- <strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Emerging Markets Local Currency Debt Fund.<br />
The SICAV’s prospectus was amended to indicate the removal of these performance fees.<br />
15. Directors’ Fees<br />
The only remuneration paid to Directors is an annual fee. This is waived by Mr Berndt May and Mr Peter Schwicht.<br />
The total Directors’ fees for the period amount to EUR 73,600 of which the Chairman is due EUR 19,534.<br />
16. Transaction Costs<br />
For the period from 1 July 2013 to 31 December 2013, the SICAV incurred transaction costs which have been defined as brokerage fees relating to purchase or<br />
sale of transferable securities, derivatives (excepted OTC derivatives) or other eligible assets as follows:<br />
Sub-<strong>Funds</strong><br />
Total (Base Currency) Currency<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - America Equity Fund<br />
175,611 USD<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Asia Local Currency Debt Fund<br />
138 USD<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Asia Pacific Income Fund<br />
2,827,771 USD<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Brazil Equity Fund<br />
565,954 USD<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - China Fund<br />
7,457,030 USD<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Eastern Europe Equity Fund<br />
320,456 EUR<br />
<strong><strong>JP</strong><strong>Morgan</strong></strong> <strong>Funds</strong> - Emerging Europe, Middle East and Africa Equity Fund<br />
489,400 USD<br />
49
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