JPM Managed Reserves A Acc $

Objectives, Process and Policies Objective To achieve a return in excess of US money markets by investing primarily in USD-denominated short-term debt securities. Investment Process Investment Approach Investment team generates a comprehensive economic outlook to determine appropriate interest rate and sector positioning. Credit research analysts conduct fundamental analysis on companies to identify suitable investment opportunities. Compared to a money market fund, incorporates longer-term investments where appropriate for additional return potential. Share Class Benchmark ICE BofA US 3-Month Treasury Bill Index (Total Return Gross) Benchmark uses and resemblance Performance comparison. The Sub-Fund is actively managed. The benchmark is used as a basis for portfolio construction but the Investment Manager has some discretion to deviate from its risk characteristics within indicative risk parameters. While its components may differ, it is likely the Sub-Fund's performance and risk characteristics may bear some resemblance to that of its benchmark. Main investment exposure At least 67% of assets invested in USD-denominated debt securities such as US Treasury securities, securities issued or guaranteed by the US government or its agencies, corporate debt securities and ABS (up to 15%). The Sub-Fund may enter into reverse repurchase transactions with highly rated counterparties collateralised with securities such as US Treasury securities, corporate securities, ABS and equities. Such collateral will be USD denominated only and restricted to investment grade where applicable. No maturity constraints apply to the collateral. At the time of purchase, securities with a long-term rating are rated investment grade, with no more than 10% rated below A- by S&P or equivalent rating by at least one independent rating agency. Should ratings for a security differ between agencies, the highest rating will be used. At time of purchase, securities with a short-term rating are rated a

PIR compliant

No

PEA compliant

No

PEA-PME compliant

No