JPM Global High Yield Bond I2 Cap $

Objectives, Process and Policies Objective To achieve a return in excess of global bond markets by investing primarily in global below investment grade corporate debt securities, using derivatives where appropriate. Investment Process Investment Approach Uses a globally integrated research driven investment process that focuses on analysing fundamental, quantitative and technical factors across countries, sectors and issuers. Bottom-up security selection approach based on assessing relative value across the global developed market high yield credit spectrum. Share Class Benchmark ICE BofA US High Yield Constrained Index (Total Return Gross) Benchmark uses and resemblance Performance comparison. The Sub-Fund is actively managed. The majority of issuers in the Sub-Fund are likely to be represented in the benchmark because the Investment Manager uses it as a basis for portfolio construction, but has some discretion to deviate from its composition and risk characteristics within indicative risk parameters. The Sub-Fund will resemble the composition and risk characteristics of its benchmark; however, the Investment Manager's discretion may result in performance that differs from the benchmark. Main investment exposure At least 67% of assets invested, either directly or through derivatives, in below investment grade corporate debt securities from issuers anywhere in the world, including emerging markets. The Sub-Fund may invest in contingent convertible bonds (up to 5%). Other investment exposure Unrated debt securities. Deposits with Credit Institutions, money market instruments and money market funds for managing cash subscriptions and redemptions as well as current and exceptional payments. Derivatives Used for: investment purposes; hedging; efficient portfolio management. Types: see Sub-Fund Derivatives Usage table under How the Sub-Funds Use Derivatives, Instruments and Techniques in the Prospectus. TRS including CFD: none. Global exposure calculation method: commitm

PIR compliant

No

PEA compliant

No

PEA-PME compliant

No