JPMorgan Value Plus Fund

C000172868 Fund Overview

JPMorgan Value Plus Fund is a US mutual fund managed by JPMorgan Trust IV, 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 IV
• Category: United States Real Estate
• Assets under management: $11.49M
• SEC CIK: 0001659326
• SEC series ID: S000054968
• Share class ID: C000172868

C000172868 Investment Objective and Strategy

JPMorgan Value Plus Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by JPMorgan Trust IV.

Investment objective

The Fund seeks to provide long-term capital appreciation.

Principal investment strategy

Under normal circumstances, the Fund primarily takes long and short positions in equity securities of large companies. Large companies are companies with market capitalizations equal to those within the universe of the Russell 1000 Value Index at the time of purchase. As of the reconstitution of the Russell 1000 Value Index on June 22, 2018, the market capitalizations of the companies in the index ranged from $310 million to $771.47 billion. In implementing its main strategies, the Fund invests primarily in equity securities, including common stocks and real estate investment trusts (REITs). Plus in the Funds name refers to the additional return the Fund endeavors to add both relative to the Russell 1000 Value Index as well as relative to traditional strategies which do not have the ability to sell stock short.

Selling stock short allows the Fund to more fully exploit insights in stocks that the Funds adviser expects to underperform, as well as enabling the Fund to establish additional long positions while keeping the Funds net exposure to the market at a level similar to a traditional long only strategy. Short sales involve the sale of a security which the Fund does not own in hopes of purchasing the same security at a later date at a lower price. To make delivery to the buyer, the Fund must borrow the security, and the Fund is obligated to return the security to the lender, which is accomplished by a later purchase of the security by the Fund. The Fund may also periodically short index futures in order to hedge its market exposure in instances when it is not preferable to enter into short positions on particular securities in the amount desired.

The Fund may also invest in exchange traded funds (ETFs) for these purposes. The Fund intends to maintain an approximate net 100% long exposure to the equity market (long market value minus short market value). However the long and short positions held by the Fund will vary in size as market opportunities change. The Funds long positions and their equivalents will range between 90% and 150% of the value of the Funds net assets. The Funds short positions will range between 0% and 50% of the value of the Funds net assets. 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. To the extent the Fund uses derivatives, the Fund will primarily use futures contracts to more effectively gain targeted equity exposure from its cash positions or as described above.

Investment Process: In managing the Fund, the adviser employs a three-step process that combines research, valuation and stock selection. The adviser takes an in-depth look at company prospects over a period as long as five years which is designed to provide insight into a companys real growth potential. The research findings allow the adviser to rank the companies in each sector group according to their relative value. On behalf of the Fund, the adviser buys and sells, as well as shorts and covers shorts in equity securities and derivatives on those securities according to its own policies, using the research and valuation rankings as a basis. In general, the adviser buys and covers shorts in equity securities that are identified as undervalued and considers selling or shorting them when they appear overvalued.

Along with attractive valuation, the adviser often considers a number of other criteria such as: catalysts (e.g., a corporate restructuring or new product) that could trigger a rise in a stocks price high potential reward compared to potential risk temporary mispricings caused by apparent market over-reactions.

C000172868 Costs and Fees

C000172868 costs about $208 per $10,000 invested per year in fund expenses.

• Net expense ratio: 2.08%
• Gross expense ratio: 3.75%
• Portfolio turnover: 133%
• Brokerage commissions: 17.76 bps of average net assets (SEC N-CEN)

C000172868 Cashflows

Over the 12 months to 2019-09, JPMorgan Value Plus Fund had net outflows of $2.00M, from monthly SEC N-PORT filings.

C000172868 Debt Constituents

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

C000172868 Prospectus and SEC Filings

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

• Prospectus (485BPOS) — filed 2018-11-06
• Prospectus (485BPOS) — filed 2017-11-16
• Prospectus (485BPOS) — filed 2016-09-13
• 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.