Jpmorgan Funds - Fundsupermart.com

JPMorgan Funds - Latin America Equity Fund
Schedule of Investments (Market Value Expressed in USD)
As at 31 December 2007
Quantity/
Nominal
Value
Name of Securities Market
Value
% of
Net
Assets
Transferable Securities Admitted to an Official Exchange Listing
LUXEMBOURG
Shares
828,818 Tenaris ADR
591,330 Ternium ADR
37,205,640
23,357,535
1.63
1.03
BRAZIL
1,702,626 All America Latina Logistica 21,347,247 0.94
60,563,175 2.66
731,529 Anhanguera Educacional Participacoes
2,526,239 Banco Bradesco ADR
3,391,041 Banco Itau Holding Financeira Preference Shares
2,673,827 Bradespar Preference Shares
503,963 Brasil Telecom Participaçes ADR
697,921 Brasil Telecom Preference Shares
14,695,147
80,839,648
90,116,946
72,040,308
37,303,341
7,226,204
0.65
3.55
3.96
3.17
1.64
0.32
ARGENTINA
171,051 Banco Macro ADR
637,541 BBVA Banco Frances ADR
157,552 Pampa Holding GDR
864,966 Telecom Argentina ADR
4,081,277
5,100,328
3,139,034
19,729,874
0.18
0.22
0.14
0.87
613,764 Cia de Bebidas das Americas ADR
1,182,574 Cia Energetica de Minas Gerais Preference Shares
5,981,442 Cia Vale do Rio Doce ADR
67,378 Companhia de Bebidas das Americas ADR
225,183 Companhia de Transmissao de Energia Eletrica
Paulista Preference Shares
593,790 CPFL Energia
44,878,424
22,280,525
173,162,746
4,652,451
5,112,786
11,674,561
1.97
0.98
7.61
0.20
0.22
0.51
BERMUDA
212,725 Credicorp
2,648,571 Laep Investments BDR
32,050,513
15,990,538
11,658,538
27,649,076
1.41
0.70
0.51
1.21
2,045,826 Cyrela Brazil Realty
421,079 Cía. Siderúrgica Nacional ADR
795,139 Duratex Preference Shares
27,525,385
37,513,928
19,587,740
1.21
1.65
0.86
PANAMA
550,042 Copa Holdings - A Shares 20,665,078 0.91
446,603 EDP - Energias do Brasil
1,081,096 Fertilizantes Heringer
1,348,684 Gafisa
539,990 Gerdau ADR
7,251,977
12,227,282
24,265,553
16,118,701
0.32
0.54
1.07
0.71
UNITED STATES OF AMERICA
324,363 NII Holdings
20,665,078
15,598,617
0.91
0.69
367,802 GP Investments BDR
1,221,334 GVT Holding
16,710,233
24,544,843
0.73
1.08
15,598,617 0.69
717,545 Industrias Romi
4,045,826 Investimentos Itau Preference Shares
8,683,860
27,789,373
0.38
1.22
Total Shares 2,219,196,753 97.52
2,093,840 Localiza Rent A CAR
1,431,915 Lojas Renner
724,623 Lupatech
23,219,477
29,287,237
25,090,909
1.02
1.29
1.10
Total Transferable Securities Admitted to an
Official Exchange Listing
2,219,196,753 97.52
88,100 MMX Mineracao e Metalicos
1,447,871 NET Servicos de Comunicacao ADR
46,356,615
18,199,738
2.04
0.80
Transferable Securities Dealt in on Another Regulated Market
942,309 Odontoprev 23,938,258 1.05 Investment Funds
1,052,521 Perdigao
2,237,148 Petroleo Brasileiro ADR
912,816 Positivo Informatica
1,210,548 Redecard
26,297,393
218,860,189
22,388,511
19,184,390
1.16
9.62
0.98
0.84
LUXEMBOURG
21,429,517 JPMorgan Liquidity Funds - US Dollar Liquidity
Fund (JPM US Dollar Liquidity X (dist.)) 21,429,517 0.94
617,083 Tam Preference Shares
338,531 Telemar Norte Leste Preference Shares
15,065,281
13,024,475
0.66
0.57
21,429,517 0.94
262,064 Tim Participaçes ADR
712,724 Totvs
9,214,170
24,013,530
0.40
1.06
Total Investment Funds 21,429,517 0.94
465,758 Unibanco - Uniao de Bancos Brasileiros GDR
748,713 Usinas Siderurgicas de Minas Gerais Preference A
Shares
581,466 Votorantim Celulose e Papel Preference Shares
64,675,156
34,842,062
17,709,307
2.84
1.53
0.78
Total Transferable Securities Dealt in on
Another Regulated Market
Total Investments
21,429,517
2,240,626,270
0.94
98.46
912,398 Weg 12,957,192 0.57
Cash 17,757,391 0.78
1,451,873,099 63.80
MEXICO
Other Assets/(Liabilities) 17,329,066 0.76
1,859,361 America Movil ADR - L Shares
33,366,338 America Movil SAB - L Shares
113,365,240
101,870,244
4.98
4.48
Total Net Assets 2,275,712,727 100.00
1,760,306 Banco Compartamos 7,636,060 0.33
2,538,622 Cemex ADR Participation Certificates 67,527,345 2.97
5,230,471 Controladora Comercial Mexicana
2,533,689 Desarrolladora Homex SAB
168,600 Desarrolladora Homex SAB ADR
13,998,172
21,599,974
8,554,764
0.62
0.95
0.38
Allocation of Portfolio as at 31 December 2007 (Unaudited)
%of
Net Assets
1,281,733 Fomento Economico Mexicano
888,983 Fomento Economico Mexicano ADR
2,678,102 Grupo Aeroportuario del Pacifico - B Shares
222,737 Grupo Aeroportuario del Sureste ADR
3,167,160 Grupo Famsa - A Shares
11,182,344 Grupo Financiero Banorte - O Shares
2,276,680 Grupo Mexico - B Shares
7,989,522 Urbi Desarrollos Urbanos
4,824,993
33,621,337
12,323,778
13,520,136
10,304,156
47,685,902
14,751,300
27,902,529
0.21
1.48
0.54
0.59
0.45
2.09
0.65
1.23
Shares
Financials
Materials
Telecommunication Services
Energy
Industrials
Consumer Staples
Consumer Discretionary
21.58
20.35
15.48
9.62
9.00
8.28
8.11
9,995,391 Wal-Mart de Mexico - V Shares 35,688,639 1.57 Utilities 2.99
Information Technology 1.06
CHILE
132,214 Cencosud Registered Shares GDR
5,297,137 Cia de Telecomunicaciones de Chile - A Shares
535,174,569
8,061,471
10,487,692
23.52
0.35
0.46
Health Care
Investment Companies
Total Shares
Cash and Other Assets/(Liabilities)
1.05
0.94
98.46
1.54
786,017 Compania Cervecerias Unidas
229,324 Distribucion y Servicio D&S ADR
5,582,777
7,081,525
0.24
0.31
Total
100.00
1,287,167 Embotelladora Andina Preference - B Shares 3,677,620 0.16
284,288 Empresa Nacional de Electricidad ADR 10,859,802 0.49
484,758 Enersis ADR 7,838,537 0.34
3,369,385 La Polar 22,033,202 0.97
75,622,626 3.32
174
Quantity/
Nominal
Value
Name of Securities Market
Value
% of
Net
Assets