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

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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

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