JPMorgan Emerging Economies Fund
Data updated: 2019-12-23
C000058439 — JPMorgan Emerging Economies Fund. Japan Blend / Core Equity · 0.79% expense ratio. Holdings, fees, performance and SEC filings.
C000058439 Fund Overview
JPMorgan Emerging Economies Fund is a US mutual fund managed by JPMorgan Trust I, categorised as Japan Blend / Core Equity. 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: Japan Blend / Core Equity
- SEC CIK: 0001217286
- SEC series ID: S000020861
- Share class ID: C000058439
C000058439 Investment Objective and Strategy
JPMorgan Emerging Economies 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 long-term capital growth.
Principal investment strategy
Under normal circumstances, the Fund invests at least 80% of the value of its Assets in equity securities of emerging markets companies and other investments that are tied economically to emerging markets. Assets means net assets, plus the amount of borrowings for investment purposes. Emerging markets include most countries in the world except Australia, Canada, Japan, New Zealand, the United Kingdom, the United States, and most of the countries of Western Europe and Hong Kong. An emerging market company is one: that is organized under the laws of, or has a principal place of business in an emerging market; where the principal securities market is in an emerging market; that derives at least 50% of its total revenues or profits from goods that are produced or sold, investments made, or services performed in an emerging market; or at least 50% of the assets of which are located in an emerging market.
The equity securities in which the Fund may invest include, but are not limited to, common stock, preferred stock, convertible securities, trust or partnership interests, depositary receipts and warrants and rights. The Fund is not required to allocate its investments in any set percentages in any particular countries. The Fund is not constrained by capitalization or style limits and will invest across sectors. The Fund will invest in securities across all market capitalizations, although the Fund may invest a significant portion of its assets in companies of any one particular market capitalization category. The Fund may overweight or underweight countries relative to its benchmark, the Morgan Stanley Capital International (MSCI) Emerging Markets (EM) Index (net of foreign withholding taxes).
The Fund emphasizes securities that are ranked as undervalued, while underweighting or avoiding securities that appear overvalued. The Fund may invest in securities denominated in U.S. dollars, other major reserve currencies, such as the euro, yen and pound sterling, and currencies of other countries in which it can invest. The Fund typically maintains full currency exposure to those markets in which it invests. However, the Fund may hedge a portion of its foreign currency exposure into the U.S. dollar. The Fund may utilize currency forwards to reduce currency deviations, where practical, for the purpose of risk management. The Fund may use exchange-traded futures for the efficient management of cash flows. The Fund may also use participation notes in the management of portfolio assets. Investment Process: The adviser believes that emerging markets are generally inefficient as demonstrated by the high and variable volatility of many emerging markets and individual companies in these markets.
Corporate disclosure and transparency can vary widely thereby exacerbating the inefficiency of these markets and offering opportunities to experienced, well-informed active investors. In managing the Fund, the adviser adheres to a disciplined process for security selection and portfolio construction. A proprietary multi-factor model is used to quantitatively rank securities in the Funds investment universe which the adviser uses to select securities. Securities held in the Fund that the adviser believes have become over-valued and/or whose factor signals have deteriorated materially may be sold and are generally replaced with more attractive securities, on the basis of the advisers disciplined investment process. The portfolio construction process controls for country and sector weights, number of securities held, and position size.
Risk or factor exposures are actively managed through portfolio construction. The Fund has access to the advisers currency specialists in determining the extent and nature of the Funds exposure to various foreign currencies.
C000058439 Costs and Fees
C000058439 costs about $79 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.79%
- Gross expense ratio: 0.84%
- Portfolio turnover: 82%
- Brokerage commissions: 8.94 bps of average net assets (SEC N-CEN)
C000058439 Cashflows
Over the 12 months to 2019-10, JPMorgan Emerging Economies Fund had net outflows of $1.17B, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2019-10 | −$1.14B |
| 2019-09 | −$759.72K |
| 2019-08 | −$24.67M |
C000058439 Debt Constituents
No individual debt constituents are reported in JPMorgan Emerging Economies Fund's latest SEC N-PORT filing.
C000058439 Prospectus and SEC Filings
Official JPMorgan Emerging Economies Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
Related Funds
Other Japan Blend / Core Equity funds tracked on ABC INVEST:
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.