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JPMorgan US Value Equity Off-shore Fund - JP Morgan Asset ...

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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

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