JPMorgan Investment Funds - Global High Yield Bond Fund A MDis HKD

摩根投資基金 - 環球高收益債券基金 A類 MDis 港元

LU0727847666

Risk Rating: Level 4

iFund risk rating methodology is a qualitative and quantitative assessment of a single fund’s geographic and asset class focus, investment style and any potential risk factors, as measured from one (1) (lowest risk) to six (6) (highest risk). For the funds with risk rating three (3) or four (4), these are mainly aimed at providing income and capital appreciation to investors by investing primarily in balanced portfolio, including high yield bonds and global equities etc. For more details, please refer to the Due Diligence section under the Procedures page.

Non-dealing Hours

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD10,000.00Min. Subscription

0.85%

HKD10,000.00Min. Subscription

HKD / JPY / EUR / GBP / RMB / USD / NZD

HKD10,000.00Min. Subscription

HKD10,000.00

HKD16,000.00

Daily

16:30

2019-11-27

*Not include dividends (If applicable)

Fund Performances (including dividend, if any)

1 mth
+0.32%
3 mth
+2.40%
6 mth
+3.30%
1 yr
+8.46%
3 yr
+19.93%
5 yr
+25.66%

Analytical Figures (3 years)

Annualized Return
+6.25%
Annualized Volatility
+4.08%
Sharpe Ratio
+0.89

Fund Information

Fund Houses
JPMorgan Funds (Asia) Ltd.
Launch Date
2008-09-16
Fund Manager
Robert L. Cook
Thomas G. Hauser
Manager Start Date
2000-03-24
2000-03-24
Geographical Focus
Global
Asset Class/ Sector
Fixed Income - High yield
Risk Rating
Risk Level 4

iFund risk rating methodology is a qualitative and quantitative assessment of a single fund’s geographic and asset class focus, investment style and any potential risk factors, as measured from one (1) (lowest risk) to six (6) (highest risk). For the funds with risk rating three (3) or four (4), these are mainly aimed at providing income and capital appreciation to investors by investing primarily in balanced portfolio, including high yield bonds and global equities etc. For more details, please refer to the Due Diligence section under the Procedures page.

Fund AUM(As of 2019-11-14)
USD 6,118,454,833.38
Management Fee
0.85%
Latest Dividend
HKD 0.053000 (2019-11-07)

Sector Leaders

    No Funds

Dealing Information

Secure Transaction

Derivatives knowledge not required

HKD10,000.00Min. Subscription

0.85%

HKD10,000.00Min. Subscription

HKD / JPY / EUR / GBP / RMB / USD / NZD

HKD10,000.00Min. Subscription

HKD10,000.00

HKD16,000.00

Daily

16:30

2019-11-27

Dividend Records

Dividend DateDividend Records (HKD)
2019-11-070.053000
2019-10-080.054000
2019-09-090.054000
2019-08-070.054000
2019-07-080.053000
2019-06-110.053000
2019-05-070.053000
2019-04-080.053000
2019-03-070.053000
2019-02-100.053000
2019-01-070.054000
2018-12-030.054000
2018-11-070.054000
2018-10-090.055000
2018-09-090.055000
2018-08-070.055000
2018-07-090.055000
2018-06-070.055000
2018-05-070.055000
2018-04-090.057000
2018-03-070.057000
2018-02-070.057000
2018-01-080.057000
2017-12-070.057000
2017-11-070.057000
2017-10-100.057000
2017-09-070.057000
2017-08-070.057000
2017-07-090.053000
2017-06-070.053000
2017-05-080.053000
2017-04-090.052000
2017-03-070.052000
2017-02-070.052000
2017-01-090.053000
2016-12-070.053000
2016-11-070.053000
2016-10-110.054000
2016-09-110.054000
2016-08-080.054000
2016-07-070.052000
2016-06-070.052000
2016-05-090.052000
2016-04-070.055000
2016-03-070.055000
2016-02-110.055000
2016-01-070.058000
2015-12-070.058000
2015-11-090.058000
2015-10-070.061000
2015-09-080.061000
2015-08-090.061000
2015-07-070.063000
2015-06-080.063000
2015-05-070.063000
2015-04-070.066000
2015-03-090.066000
2015-02-090.066000
2015-01-070.064000
2014-12-080.064000
2014-11-090.064000
2014-10-070.063000
2014-09-080.063000
2014-08-070.063000
2014-07-070.064000
2014-06-100.064000
2014-05-070.064000
2014-04-070.065000
2014-03-090.065000
2014-02-090.065003
2014-01-070.066000
2013-12-090.065999
2013-11-070.066000
2013-10-070.070003
2013-09-090.070003
2013-08-070.069997
2013-07-080.066003
2013-06-090.066003
2013-05-070.066000
2013-04-080.068998
2013-03-070.068990
2013-02-070.068994
2013-01-070.060000
2012-12-090.060000
2012-11-060.060000
2012-10-040.070000
2012-09-040.070000
2012-08-070.070000
2012-07-080.070000
2012-06-070.070000
2012-05-080.070000
2012-04-030.070000
2012-03-060.070000

Investment Objective

To achieve a return in excess of global bond markets by investing primarily in global below investment grade corporate debt securities, using financial derivative instruments where appropriate.

Nature and Extent of Risks

Investment involves risk. Please refer to the offering document(s) for details, including the risk factors.
1.Emerging markets risk
In emerging markets, the legal judicial and regulatory infrastructure is still developing but there is much legal uncertainty. Some markets may carry higher risks for investors who should therefore ensure that they understand the risks involved and are satisfied that an investment is suitable as part of their portfolio.
2.Below investment grade/unrated investment risk
The Fund may invest in debt securities which are unrated or with ratings below investment grade. Accordingly, such investment will be accompanied by a higher degree of credit and liquidity risks than is present with investment in higher rated securities. During economic downturns such bonds typically fall more in value than investment grade bonds as such are often subject to a higher risk of issuer default. The net asset value of the Fund may decline or be negatively affected if there is a default of any of the below investment grade/unrated debt securities (e.g. some high yield bonds) that the Fund invests in or if interest rates change.
3.Credit risk
If the issuer of any of the securities in which the Fund’s assets are invested defaults, the performance of the Fund will be adversely affected and the Fund could suffer substantial loss. For debt securities, a default on interest or principal may adversely impact the performance of the Fund. Decline in credit quality of the issuer may adversely affect the valuation of the relevant bonds and the Fund. The credit ratings assigned by credit rating agencies do not guarantee the creditworthiness of the issuer.
4.Interest rate risk
Interest rates in the countries in which the Fund’s assets will be invested may be subject to fluctuations. Any such fluctuations may have a direct effect on the income received by the Fund and its capital value. Bonds are particularly susceptible to interest rate changes and may experience significant price volatility. The prices of bonds generally increase when interest rates decline and decrease when interest rates rise. Longer term bonds are usually more sensitive to interest rate changes. As a result, investors may get back less than they originally invested.
5.Currency risk
Where the currency of the Fund varies from the investor’s home currency or where the currency of the Fund varies from the currencies of the markets in which the Fund invests, there is the prospect of additional loss to the investor greater than the usual risks of investment. Also, movements in currency exchange rates can adversely affect the return of the investment and as a result, investors may get back less than they originally invested.
6.Risk related to “(irc)” share classes
The “(irc)” share classes will give priority to dividends, rather than to capital growth and will typically distribute more than the income received by the Fund. As such, dividends may be paid out of capital, resulting in greater erosion of the capital invested than other share classes. Furthermore, movements in currency exchange rates and interest rates can adversely affect the return of the “(irc)” share classes. The net asset value of “(irc)” share classes may fluctuate more than and may significantly differ from other share classes due to a more frequent distribution of dividends and the fluctuation of the interest rate differential between the reference currency of the share class and the reference currency of the Fund. Please refer to the “currency hedged share classes risk” for the additional risk associated with “(irc)” share classes.
7.Currency hedged share classes risk
Investors should be aware that the currency hedging process may not give a precise hedge and there is no guarantee that the hedging will be totally successful. Investors in the currency hedged share classes may have exposure to currencies other than the currency of their share class and may also be exposed to the risks associated with the instruments used in the hedging process.
8.Investment risk
The value of the Fund’s holdings may fall. Investors may be subject to substantial losses.
9.Liquidity risk
Lack of liquidity may adversely affect the ease of disposal of assets. The absence of reliable pricing information in a particular security held by the Fund may make it difficult to access reliably the market value of assets. As a result, investors may get back less than they originally invested.
10.Derivative risk
The Fund may invest in derivatives for investment purposes including over-the-counter derivatives, and may therefore be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the Fund will sustain losses. Given the leverage effect embedded in derivatives, a relatively small price movement in a derivative contract may result in substantial losses to the investor. Investment in derivative transactions may result in a total loss of the Fund’s assets. The Fund’s expected level of leverage is 25% of the NAV of the Fund. In this context leverage is calculated as the sum of the notional exposure of the financial derivative instruments used, without the use of netting arrangements.
11.Payment of distributions out of capital risk
The Fund may at its discretion pay dividends out of capital. The Fund may also at its discretion pay dividends out of gross income while charging all or part of the Fund’s fees and expenses to the capital of the Fund, resulting in an increase in distributable amount for the payment of dividends and therefore, effectively paying dividends out of realised, unrealised capital gains or capital. Investors should note that, share classes of the Fund which pay dividends may distribute not only investment income, but also realised and unrealised capital gains or capital. Payment of dividends out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment, as a result, the capital that the Fund has available for investment in the future and capital growth may be reduced. Any dividend payments, irrespective of whether such payment is made up or effectively made up out of income, realised and unrealised capital gains or capital, may result in an immediate reduction of the net asset value per share. A high distribution yield does not imply a positive or high return on the total investment.
12.Risks related to the Eurozone sovereign debt crisis
The Fund may invest substantially in the Eurozone. In light of the current fiscal conditions and concerns on the sovereign debt risk of certain countries within the Eurozone (in particular, Portugal, Ireland, Italy, Greece and Spain), the Fund’s investments in the region may be more volatile. The performance of the Fund may deteriorate significantly should there be any adverse credit events (e.g. downgrade of the sovereign credit rating, obligation default, etc) of any Eurozone country.

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