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Risk
Asset Management Company of the
Year – Fundamental Strategies, Asia3)
1 2 3 4 5
JPMorgan Funds - Europe Technology Fund
December 2014
SICAV Range
•• The Fund invests primarily in technology (including media and telecommunication) related European companies.
•• The Fund is therefore exposed to diversification, smaller companies, technology related companies, currency, liquidity, equity and Eurozone sovereign debt crisis
risks. For currency hedged share classes, the currency hedging process may not give a precise hedge and there is no guarantee that the hedging will be totally
successful.
•• 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. 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.
•• Investors may be subject to substantial losses.
•• Investors should not solely rely on this document to make any investment decision.
Investment objective
Performance from 31.12.02 to 28.11.14 (in denominated currency)
Fund manager
Jonathan Ingram/John Baker/
Anis Lahlou-Abid, London
Total fund size (m) USD 180.2
Denominated currency and NAV per unit:
A (dist) - EUR Class
EUR 8.06
A (acc) - USD (hedged) Class
USD 150.51
12 month High
NAV:Low
EUR 8.10 (15.09.14)
EUR 6.96 (16.10.14)
CurrentInitial
charge:Redemption
Management fee
5.0% of NAV
0%
1.5% p.a.
Last distribution (xd date)
Distribution
frequency
REBASED
Portfolio information (A (dist) - EUR Class)
EUR 0.19 (17.09.14)
(dist) Class
Expected annually
300
300
200
200
100
100
0
0
03
04
05
06
07
08
09
7096477/LU0117906742
Bloomberg code
FLEFTEJ LX
Statistical analysis (A (dist) - EUR Class)
Since
3 years 5 years launch2)
0.940.960.93
Alpha %
0.22 0.130.36
Beta
0.940.970.79
Annual volatility %
12.56 15.3123.65
Sharpe ratio
1.82 1.110.05
Annual tracking error %
4.47 4.1310.44
Average annual return % 23.0317.47 3.19
10
11
12
13
14
JPMorgan Europe
Technology A (dist) EUR
MSCI Europe IMI IT
10/40 Net Index1)
(Since 01.04.08)
-100
Cumulative performance % (in denominated currency)
1 month
1 year
3 years
5 years
Since launch Launch date
A (dist) - EUR Class
+4.5 +10.8+86.2 +123.7 +52.7 15.06.01
+4.6 +9.1+79.0+111.6 -18.5
Benchmark1)
A (acc) - USD (hedged) Class +4.9
-
-
-
+10.2
03.03.14
Calendar year performance % (in denominated currency)
2009 2010 2011 2012 20132014YTD
A (dist) - EUR Class
+54.2+29.4 -11.5 +21.7+39.4 +8.7
1)
Benchmark +50.5+24.8 -12.5 +27.1 +33.7 +6.7
A (acc) - USD (hedged) Class
SEDOL/ISIN code
Correlation
400
% CHANGE
To provide long-term capital growth by investing primarily
in technology (including media and telecommunication)
related European companies.
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-
-
-
-
-
Portfolio analysis
By country/region
By sector
Germany
United Kingdom
Sweden
France
Netherlands
Others
Finland
Spain
Net Liquidity
0.4%
0.6%
2.1%
2.8%
5.8%
13.3%
34.2%
40.8%
19.3%
16.0%
15.5%
14.5%
10.5%
10.5%
7.7%
5.6%
0.4%
Net Liquidity
Health Technology
Media
Others
Telecommunications
Electronic & Electrical Equipment
IT Software & Service
IT Hardware
Top five holdings (as at end October 2014)
Holding
Sector
Country/region%
ASML
Nokia
Ericsson
SAP
Amadeus IT
Electronic & Electrical Equipment
IT Hardware
IT Hardware
IT Software & Service
IT Software & Service
Netherlands
Finland
Sweden
Germany
Spain
9.7
9.0
8.0
5.7
4.6
Unless stated otherwise, all information as at the last valuation date of the previous month. Source: J.P. Morgan Asset Management/Thomson Reuters Datastream (NAV to NAV
in denominated currency with income reinvested). Due to SFC regulations, no performance data will be published for funds which are less than six months old. Source of star
rating: Morningstar, Inc. Risk ratings (if any) are based on J.P. Morgan Asset Management’s assessment of relative risk by asset class and historical volatility of the fund where
applicable. The risk ratings are reviewed annually or as appropriate and for reference only. Investors are advised to consult our Investment Advisers before investing. Any
overweight in any investment holding exceeding the limit set out in the Investment Restrictions was due to market movements and will be rectified shortly. Top ten holdings is
available upon request. It should be noted that due to the difference of the fund domiciles the valuation points used by Unit Trust range and SICAV range of funds for fair
valuation (where applied) may vary. For details please refer to the respective offering document(s). 1)Dividends reinvested after deduction of withholding tax. Prior to 01.01.02,
FTSE World Europe Total. Prior to 01.04.08, Morgan Stanley Eurotec Price (Price change only, dividends not taken into account). 2)With the exception of the “Average annual
return” figure, all data are calculated from the month end after inception. 3)Issued by the Asset Triple A Investor and Fund Management Awards 2014, reflecting performance
of previous calendar year.
For more information, please contact
your bank, financial adviser or visit
www.jpmorganam.com.hk
For funds offering classes with a distribution feature, such classes aim at monthly, quarterly, semi-annual or annual
distribution as the case may be. Dividend rate is not guaranteed. Distributions may be paid from capital. The
investment returns are calculated in denominated currency. For funds/classes denominated in foreign currencies,
US/HK dollar-based investors are therefore exposed to fluctuations in the currency exchange rate. Investment
involves risk. Past performance is not indicative of future performance. Please refer to the offering document(s) for
details, including the risk factors.
This document has not been reviewed by the SFC. Issued by JPMorgan Funds (Asia) Limited.

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