JPMorgan Intrepid America Fund

C000007639 Fund Overview

JPMorgan Intrepid America Fund is a US mutual fund managed by JPMorgan Trust I, categorised as United States Real Estate. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: JPMorgan Trust I
• Category: United States Real Estate
• Assets under management: $1.59B
• SEC CIK: 0001217286
• SEC series ID: S000002789
• Share class ID: C000007639

C000007639 Investment Objective and Strategy

JPMorgan Intrepid America Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by JPMorgan Trust I.

Investment objective

The Fund seeks to provide long-term capital growth.

Principal investment strategy

Under normal circumstances, the Fund invests at least 80% of its Assets in equity investments of large and mid capitalization U.S. companies. Assets means net assets, plus the amount of borrowings for investment purposes. The Fund generally defines large capitalization companies as those with a market capitalization over $10 billion at the time of purchase, and mid capitalization companies as those with market capitalization between $1 billion and $10 billion at the time of purchase. In implementing its main strategies, the Fund invests primarily in a broad portfolio of equity securities that the adviser believes have characteristics such as attractive valuations, high quality and/or strong momentum that should lead to relative outperformance. Generally these will be equity securities of companies within the S&P 500 Index.

In implementing this strategy, the Fund invests primarily in common stock and real estate investment trusts (REITs). Derivatives, which are instruments that have a value based on another instrument, exchange rate or index, may be used as substitutes for securities in which the Fund can invest. The Fund may use futures contracts to gain or reduce exposure to its index, maintain liquidity and minimize transaction costs. In managing cash flows, the Fund buys futures contracts to invest incoming cash in the market or sells futures contracts in response to cash outflows, thereby gaining market exposure to the index while maintaining a cash balance for liquidity. An issuer of a security will be deemed to be located in the United States if: (i) the principal trading market for the security is in the United States, (ii) the issuer is organized under the laws of the United States, or (iii) the issuer derives at least 50% of its revenues or profits from the United States or has at least 50% of its total assets situated in the United States.

Investment Process: The Fund has an actively managed strategy that employs an investment process based on behavioral finance principles. Behavioral finance theorizes that investors behave irrationally in systematic and predictable ways because human psychology affects investment decision-making. This investor behavior results in market inefficiencies that persist over time. The Fund seeks to capitalize on these market anomalies through a disciplined and dispassionate investment process. In identifying high quality securities, the adviser looks for profitable companies with sustainable earnings and disciplined management. In identifying securities that have strong momentum, the adviser looks for securities which have prices and/or earnings that have been increasing and that the adviser believes will continue to increase.

The Fund will sell a stock if the adviser determines that the issuer no longer meets the Funds investment criteria or if the adviser believes that more attractive opportunities are available.

C000007639 Costs and Fees

C000007639 costs about $84 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.84%
• Gross expense ratio: 0.90%
• Portfolio turnover: 98%
• Brokerage commissions: 6.00 bps of average net assets (SEC N-CEN)

C000007639 Cashflows

Over the 12 months to 2019-09, JPMorgan Intrepid America Fund had net outflows of $1.03B, from monthly SEC N-PORT filings.

C000007639 Debt Constituents

No individual debt constituents are reported in JPMorgan Intrepid America Fund's latest SEC N-PORT filing.

C000007639 Prospectus and SEC Filings

Official JPMorgan Intrepid America Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2019-11-07
• Prospectus (485BPOS) — filed 2018-11-13
• Prospectus supplement (497) — filed 2017-11-28
• Portfolio holdings (N-PORT) — filed 2019-11-25
• Annual census (N-CEN) — filed 2019-09-11
• Annual census, amended (N-CEN/A) — filed 2019-05-24

Related Funds

Other United States Real Estate funds tracked on ABC INVEST:

• Vanguard Real Estate Index Fund (VGSIX)
• Vanguard Real Estate II Index Fund (VRTPX)
• Schwab U.S. REIT ETF (SCHH)
• Cohen & Steers Real Estate Securities Fund (CSEIX)
• The Real Estate Select Sector SPDR Fund (XLRE)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.