URTAX — JPMorgan Realty Income Fund
Data updated: 2023-05-12
URTAX — JPMorgan Realty Income Fund. Real Estate · $1.61B AUM · 1.18% expense ratio · 24.2% 1-yr return. Holdings, fees, performance and SEC filings.
URTAX Fund Overview
URTAX — JPMorgan Realty Income Fund is a US mutual fund managed by Undiscovered Managers Funds, categorised as 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: Undiscovered Managers Funds
- Category: Real Estate
- Assets under management: $1.61B
- 1-year return: 24.2%
- Ticker: URTAX
- SEC CIK: 0001047712
- SEC series ID: S000004187
- Share class ID: C000011788
URTAX Investment Objective and Strategy
JPMorgan Realty Income Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Undiscovered Managers Funds.
Investment objective
High total investment return through a combination of capital appreciation and current income.
Principal investment strategy
The Fund seeks to achieve its objective by investing substantially all of its assets, and in any event under normal circumstances at least 80% of its net assets (plus the amount of any borrowings for investment purposes), in equity securities of real estate investment trusts (REITs), including REITs with relatively small market capitalizations. The Fund may invest in both equity REITs and mortgage REITs. Equity REITs take ownership interests in real estate. Mortgage REITs invest in mortgages (loans secured by interests in real estate). The Fund may also invest up to 15% of net assets in illiquid holdings. As investment adviser to the Fund, J.P. Morgan Investment Management Inc. (JPMIM) manages the portfolio utilizing a disciplined investment process that focuses on stock selection rather than focusing on particular sectors or themes.
JPMIMs portfolio management team continuously screens the target universe of investments, selecting companies that exhibit superior financial strength, operating returns and attractive growth prospects. The REIT research team takes an in-depth look at each companys ability to generate earnings over a long-term business cycle, rather than focusing solely on near-term expectations. These research efforts allow the team to determine each companys normalized earnings (i.e., projected earnings adjusted to reflect what the company should earn at the midpoint of an economic cycle) and growth potential, from which they evaluate whether each companys current price fully reflects its long-term value. The Fund is non-diversified.
URTAX Performance
Total returns for URTAX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 24.2% |
| 3 years (annualised) | 9.3% |
URTAX Risk Information
Risk metrics for URTAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 17.7%
URTAX Costs and Fees
URTAX costs about $118 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.18%
- Gross expense ratio: 1.29%
- Portfolio turnover: 90%
- Brokerage commissions: 1.97 bps of average net assets (SEC N-CEN)
URTAX Cashflows
Over the 12 months to 2022-02, JPMorgan Realty Income Fund had net outflows of $655.86M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2022-02 | −$7.44M |
| 2022-01 | −$175.07M |
| 2021-12 | $107.92M |
| 2021-11 | −$101.47M |
| 2021-10 | −$41.45M |
| 2021-09 | −$47.36M |
URTAX Debt Constituents
No individual debt constituents are reported in JPMorgan Realty Income Fund's latest SEC N-PORT filing.
URTAX Prospectus and SEC Filings
Official JPMorgan Realty Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2021-06-23
- Prospectus (485BPOS) — filed 2020-07-06
- Prospectus supplement (497) — filed 2021-12-01
- Portfolio holdings (N-PORT) — filed 2022-04-27
- Portfolio holdings (N-PORT) — filed 2022-01-28
- Portfolio holdings (N-PORT) — filed 2021-10-26
- Annual census (N-CEN) — filed 2023-05-12
- Annual census (N-CEN) — filed 2022-05-13
Related Funds
Other Real Estate 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.