JECSX — JPMorgan Emerging Markets Strategic Debt Fund

Data updated: 2022-03-25

JECSX — JPMorgan Emerging Markets Strategic Debt Fund. Money Market · $569.38M AUM · 0.95% expense ratio. Holdings, fees, performance and SEC filings.

JECSX Fund Overview

JECSX — JPMorgan Emerging Markets Strategic Debt Fund is a US mutual fund managed by JPMorgan Trust I, categorised as Money Market. 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: Money Market
  • Assets under management: $569.38M
  • 1-year return: -3.6%
  • Ticker: JECSX
  • SEC CIK: 0001217286
  • SEC series ID: S000037473
  • Share class ID: C000115704

JECSX Investment Objective and Strategy

JPMorgan Emerging Markets Strategic Debt 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 total return.

Principal investment strategy

The Fund invests primarily in debt investments that it believes have the potential to provide total return from countries whose economies or bond markets are less developed (emerging markets). The Funds adviser, J.P. Morgan Investment Management Inc. (JPMIM or the adviser) uses a flexible asset allocation approach to invest the Fund opportunistically among different emerging market sectors and instruments. Under normal circumstances, the Fund invests at least 80% of its Assets in emerging market debt investments. Emerging market debt investments are securities and instruments of issuers located in or tied economically to emerging markets. Assets means net assets, plus the amount of borrowings for investment purposes. Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties.

Emerging markets currently include most countries in the world except Australia, Canada, Japan, New Zealand, the U.S., the United Kingdom, and most of the countries of western Europe and Hong Kong. A security will be deemed to be tied economically to emerging markets if: (1) the issuer is organized under the laws of, or has a principal place of business in an emerging market; or (2) the principal listing of the issuers securities is in a market that is in an emerging market; or (3) the issuer 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 (4) the issuer has at least 50% of its assets located in an emerging market. The Fund is unconstrained and may invest in a broad array of emerging market debt securities and sectors including corporate debt and sovereign debt.

These securities may be denominated in U.S. and other developed market currencies as well as emerging markets currencies (local currencies). Sovereign debt securities are securities that are issued or guaranteed by foreign sovereign governments or their agencies, authorities or political subdivisions or instrumentalities, and supranational agencies. The Fund may invest in debt securities issued or guaranteed by foreign corporations and foreign financial institutions. The Funds securities may be of any maturity, duration or quality. The Fund does not have any minimum quality rating requirement and may invest without limit in securities that are rated below investment grade (commonly known as junk bonds) or the unrated equivalent. As part of its principal investment strategies, the Fund may invest in foreign municipal securities, including foreign provincial securities, fixed and floating or variable rate instruments, inflation-linked securities, corporate debt securities, private placements, zero-coupon securities and loan participation notes.

The Fund may also invest in structured investments such as credit linked notes (CLNs) involving U.S. or non-U.S. counterparties for which the reference instrument is an emerging markets debt instrument denominated in an emerging markets currency. CLNs are typically structured as a limited purpose trust or other vehicle that, in turn, invests in a derivative or basket of derivative instruments, such as credit default swaps, interest rate swaps and/or other securities, in order to provide exposure to emerging markets. Derivatives are instruments that have a value based on another instrument, exchange rate or index. In addition to direct investments in securities, the Fund will use derivatives as a substitute for securities in which the Fund can invest. The Fund may use derivatives including foreign currency transactions such as currency forwards including non-deliverable forwards, futures contracts, options, swaps such as interest rate swaps and credit default swaps, and securities with embedded derivatives such as CLNs.

The Fund may use swaps structured as credit default swaps related to individual securities or indexes of securities to gain or to limit exposure to securities, to mitigate risk exposure and to manage cash flow needs. The Fund may also use foreign currency transactions, futures contracts, options, credit default swaps and currency options to help manage duration, sector and yield curve exposure and credit and spread volatility and to establish or adjust exposure to particular foreign securities, markets or currencies. The Fund also may use derivatives to hedge an investment in one currency back to another currency, to increase income and gain to the Fund, and/or as part of its risk management process by establishing or adjusting exposure to particular foreign securities, markets or currencies.

The Fund may invest in registered investment companies including J.P. Morgan money market funds, securities issued by the U.S. government and its agencies, or other investments to maintain asset coverage for the Funds derivative positions and for cash management purposes. The adviser buys and sells securities and investments for the Fund based on its view of individual securities and market sectors, combining macro-economic research with bottom up fundamental country and credit analysis. The adviser analyzes rates and foreign exchanges separately using a quantitative assessment with a qualitative overlay. Taking a long-term approach, the adviser looks for individual fixed income investments that it believes will perform well over market cycles. The adviser is value oriented and makes decisions to purchase and sell individual securities and instruments after performing a risk/reward analysis that includes an evaluation of interest rate risk, currency risk, credit risk, duration, liquidity and the complex legal and technical structure of the transaction.

The Fund is non-diversified.

JECSX Performance

Total returns for JECSX (as of 2026-10-01), from SEC filings.

PeriodTotal return
1 year-3.6%
3 years (annualised)0.3%

JECSX Risk Information

Risk metrics for JECSX, derived from monthly returns in SEC filings.

  • 1-year volatility (annualised): 6.3%

JECSX Costs and Fees

JECSX costs about $95 per $10,000 invested per year in fund expenses.

  • Net expense ratio: 0.95%
  • Gross expense ratio: 1.05%
  • Portfolio turnover: 62%
  • Brokerage commissions: 0.14 bps of average net assets (SEC N-CEN)

JECSX Cashflows

Over the 12 months to 2022-01, JPMorgan Emerging Markets Strategic Debt Fund had net inflows of $133.95M, from monthly SEC N-PORT filings.

MonthNet flow
2022-01−$2.88M
2021-12−$953.12K
2021-11−$9.18M
2021-10−$14.94M
2021-09−$10.09M
2021-08−$2.41M

JECSX Debt Constituents

No individual debt constituents are reported in JPMorgan Emerging Markets Strategic Debt Fund's latest SEC N-PORT filing.

JECSX Prospectus and SEC Filings

Official JPMorgan Emerging Markets Strategic Debt Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other Money Market 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.