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JPMorgan Funds
Notes to the Financial Statements (continued)
As at 30 June 2008
12. Significant Changes during the Year
The following benchmark index changes have occurred during the year:
- the benchmark index for JPMorgan Funds - Europe Technology Fund has been changed from Morgan Stanley Eurotec Index to the MSCI Europe IMI IT 10/40 Index with effect
from 1 April 2008,
- the benchmark index for JPMorgan Funds - JF Asia Equity Fund has been changed from MSCI AC Far East ex Japan Total Return Net to MSCI All Countries Asia Pacific
ex-Japan (Total Return Net) with effect from 30 April 2008,
- the benchmark index for JPMorgan Funds - JF Japan Small Cap Fund has been changed from Japan TSE 2nd Section (Total Return Net) to S&P/Citigroup Japan Extended
Market Index (Total Return Net) with effect from 1 May 2008,
13. Subsequent Events
With effect from 1 July 2008, the Operating & Administrative Expenses were changed from a capped rate to a fixed fee for C Classes.
The Board of Directors of JPMorgan Funds has decided to merge several Sub-Funds:
- JPMorgan Funds - Global Equity Fund (EUR) has been merged into JPMorgan Funds - Global Equity Fund (USD) on 17 July 2008,
- JPMorgan Funds - Global Real Estate Securities Fund (EUR) has been merged into JPMorgan Funds - Global Real Estate Securities Fund (USD) on 31 July 2008.
With effect from 1 August 2008, the following benchmark index changes have occurred:
- the benchmark index for JPMorgan Funds - JF China Fund has been changed from BNP Paribas China Index (Price Index) to Morgan Stanley Capital International (MSCI) China
10/40 Capped Index (Total Return Net),
- the benchmark index for JPMorgan Funds - JF India Fund has been changed from MSCI India Index (Total Return Net) to Morgan Stanley Capital International (MSCI) India
10/40 Capped Index (Total Return Net)
In addition to the above, JPMorgan Funds - US Growth Alpha Plus was launched on 4 September 2008.
14. Directors’ Fees
The only remuneration paid to Directors is an annual fee. This is waived by Mr Berndt May and Ms Andrea L. Hazen.
The total Directors’ fees for the year amount to EUR 168,197.19, of which the Chairman is due EUR 36,042.74.
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