JPMorgan US Equity Income Class C Acc
Report And Accounts
Simplified Prospectus / KIID
Private Investor Factsheet
Professional Investor Factsheet
Performance
Discrete performance - to last month end
| 31/03/19 to 31/03/20 |
31/03/20 to 31/03/21 |
31/03/21 to 31/03/22 |
31/03/22 to 31/03/23 |
31/03/23 to 31/03/24 |
|
|---|---|---|---|---|---|
| Fund | -7.2% | 33.3% | 20.4% | -2.3% | 13.1% |
| Sector | -4.0% | 42.4% | 16.1% | -4.0% | 25.1% |
| Rank | 124/204 | 197/218 | 43/227 | 45/244 | 234/253 |
| Quartile | 3 | 4 | 1 | 1 | 4 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 31/03/24 |
5 Years to 31/03/24 |
10 Years to 31/03/24 |
||
| Fund | 10.0% | 10.5% | 12.4% | |
| Sector | 11.7% | 13.8% | 13.8% | |
| Rank | 135/227 | 169/204 | 83/124 | |
| Quartile | 3 | 4 | 3 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| CONOCOPHILLIPS | 2.96 |
| WELLS FARGO & COMPANY | 2.47 |
| MORGAN STANLEY | 2.34 |
| AIR PRODUCTS AND CHEMICALS | 2.25 |
| BLACKROCK | 2.24 |
| UNITEDHEALTH GROUP INCORPORATED | 2.22 |
| COMCAST CORP(NEW) | 2.20 |
| NORFOLK SOUTHERN CORPORATION | 2.12 |
| BANK OF AMERICA CORP | 2.09 |
| JOHNSON & JOHNSON | 2.00 |
| Total | 22.89 |
Fund Aims
To provide a portfolio designed to achieve income by investing primarily in US equities in any economic sector whilst participating in long term capital growth.
Fund Manager
Andrew Brandon, managing director,is a portfolio manager in the U.S. Equity Group. An employee since 2000, Andrew joined the investment team in 2012 as an investment analyst on the JPMorgan Equity Income and Growth and Income Funds. Prior to joining the team Andrew was a member of our US equity research team covering the financial industry. Andrew has also worked in the JPMorgan Private Bank supporting portfolio managers of both the U.S. large cap core equity product, and the U.S. large cap value product. Andrew obtained a B.A. in economics from the University of Virginia, and an M.B.A. from the University of Florida. He is a CFA charterholder.
David Silberman, managing director, is an investor on the JPMorgan Equity Income and the JPMorgan Growth & Income Funds within the U.S. Equity Group. An employee since 1989, David assumed his current role in 2019. Prior to his current role, David was the Head of the Equity Investment and Corporate Governance teams globally and the lead U.S. Equity Investment Director since 2008. Previously, he was a portfolio manager in the U.S. Equity Group where he managed equity portfolios for private clients, endowments and foundations. He has also worked in the Emerging Markets Derivatives Group and attended the J.P. Morgan training program. David holds a B.A. in economics and political science from the State University of New York at Binghamton and an M.B.A. from the Stern School of Business at New York University.
Clare A. Hart, managing director, is a portfolio manager in the U.S. Equity Group. An employee since 1999, Clare is the lead portfolio manager of the JPMorgan Equity Income Fund and the JPMorgan Growth & Income Fund. Prior to joining the team, Clare was with Salomon Smith Barney’s equity research division as a research associate covering Real Estate Investment Trusts. She began her career at Arthur Andersen, working as a public accountant. Clare holds a B.A. in political science from the University of Chicago, an M.S.A. from DePaul University and a C.P.A. granted by the State of Illinois.
Fund Overview
| Mid (26/04/2024) | 446.50p |
| Historic yield | 2.22% |
| Fund size (31/12/2023) | £3656.88m |
| Number of holdings | 562 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.79% |
| Launch date | 11/07/2011 |
Asset Allocation
| International Equities | 97.88% | |
| Property | 1.89% | |
| Money Market | 0.23% | |
| Alternative Trading Strategies | 0.06% | |
| Cash and Equivalents | -0.06% |
Important Information
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Asset Allocation
| International Equities | 97.88% | |
| Property | 1.89% | |
| Money Market | 0.23% | |
| Alternative Trading Strategies | 0.06% | |
| Cash and Equivalents | -0.06% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Financials | 20.98% | - | - | - | |
| Financial Services | - | 7.79% | - | - | |
| Investment Banking & Brokerage Services | - | - | 7.79% | - | |
| Investment Services | - | - | - | 5.55% | |
| Asset Managers & Custodians | - | - | - | 2.24% | |
| Banks | - | 7.71% | - | - | |
| Banks | - | - | 7.71% | - | |
| Banks | - | - | - | 7.71% | |
| Insurance | - | 5.48% | - | - | |
| Non-life Insurance | - | - | 4.40% | - | |
| Property & Casualty Insurance | - | - | - | 2.43% | |
| Insurance Brokers | - | - | - | 1.27% | |
| Full Line Insurance | - | - | - | 0.70% | |
| Life Insurance | - | - | 1.08% | - | |
| Life Insurance | - | - | - | 1.08% | |
| Industrials | 15.71% | - | - | - | |
| Industrial Goods & Services | - | 15.71% | - | - | |
| General Industrials | - | - | 6.09% | - | |
| Diversified Industrials | - | - | - | 4.27% | |
| Paints & Coatings | - | - | - | 1.82% | |
| Industrial Transportation | - | - | 4.43% | - | |
| Railroads | - | - | - | 2.53% | |
| Delivery Services | - | - | - | 1.90% | |
| Industrial Support Services | - | - | 2.45% | - | |
| Transaction Processing Services | - | - | - | 1.87% | |
| Professional Business Support Services | - | - | - | 0.59% | |
| Aerospace & Defence | - | - | 1.64% | - | |
| Aerospace | - | - | - | 1.64% | |
| Industrial Engineering | - | - | 1.09% | - | |
| Machinery: Agricultural | - | - | - | 1.09% | |
| Health Care | 14.74% | - | - | - | |
| Health Care | - | 14.74% | - | - | |
| Pharmaceuticals & Biotechnology | - | - | 7.89% | - | |
| Pharmaceuticals | - | - | - | 7.89% | |
| Medical Equipment & Services | - | - | 3.45% | - | |
| Medical Equipment | - | - | - | 2.58% | |
| Medical Supplies | - | - | - | 0.88% | |
| Health Care Providers | - | - | 3.39% | - | |
| Health Care Management Services | - | - | - | 3.39% | |
| Consumer Staples | 10.06% | - | - | - | |
| Food, Beverage & Tobacco | - | 5.45% | - | - | |
| Tobacco | - | - | 1.94% | - | |
| Tobacco | - | - | - | 1.94% | |
| Beverages | - | - | 1.90% | - | |
| Soft Drinks | - | - | - | 1.90% | |
| Food Producers | - | - | 1.61% | - | |
| Food Products | - | - | - | 1.61% | |
| Personal Care, Drug & Grocery Stores | - | 4.62% | - | - | |
| Personal Care, Drug & Grocery Stores | - | - | 4.62% | - | |
| Personal Products | - | - | - | 2.03% | |
| Drug Retailers | - | - | - | 1.61% | |
| Food Retailers & Wholesalers | - | - | - | 0.97% | |
| Technology | 9.29% | - | - | - | |
| Technology | - | 9.29% | - | - | |
| Technology Hardware & Equipment | - | - | 6.79% | - | |
| Semiconductors | - | - | - | 4.97% | |
| Computer Hardware | - | - | - | 0.87% | |
| Electronic Components | - | - | - | 0.67% | |
| Production Technology Equipment | - | - | - | 0.28% | |
| Software & Computer Services | - | - | 2.50% | - | |
| Software | - | - | - | 1.61% | |
| Computer Services | - | - | - | 0.89% | |
| Energy | 8.44% | - | - | - | |
| Energy | - | 8.44% | - | - | |
| Non-Renewable Energy | - | - | 8.44% | - | |
| Oil: Crude Producers | - | - | - | 4.52% | |
| Integrated Oil & Gas | - | - | - | 3.92% | |
| Consumer Discretionary | 7.60% | - | - | - | |
| Retail | - | 5.54% | - | - | |
| Retailers | - | - | 5.54% | - | |
| Home Improvement Retailers | - | - | - | 2.14% | |
| Apparel Retailers | - | - | - | 1.38% | |
| Diversified Retailers | - | - | - | 1.35% | |
| Specialty Retailers | - | - | - | 0.66% | |
| Travel & Leisure | - | 2.06% | - | - | |
| Travel & Leisure | - | - | 2.06% | - | |
| Restaurants & Bars | - | - | - | 2.06% | |
| Utilities | 5.61% | - | - | - | |
| Utilities | - | 5.61% | - | - | |
| Electricity | - | - | 4.75% | - | |
| Conventional Electricity | - | - | - | 4.75% | |
| Waste & Disposal Services | - | - | 0.86% | - | |
| Waste & Disposal Services | - | - | - | 0.86% | |
| Telecommunications | 2.87% | - | - | - | |
| Telecommunications | - | 2.87% | - | - | |
| Telecommunications Service Providers | - | - | 2.87% | - | |
| Cable Television Services | - | - | - | 2.20% | |
| Telecommunications Services | - | - | - | 0.67% | |
| Basic Materials | 2.25% | - | - | - | |
| Chemicals | - | 2.25% | - | - | |
| Chemicals | - | - | 2.25% | - | |
| Specialty Chemicals | - | - | - | 2.25% | |
| Real Estate | 2.21% | - | - | - | |
| Real Estate | - | 2.21% | - | - | |
| Real Estate Investment Trusts | - | - | 2.21% | - | |
| Industrial REITs | - | - | - | 0.93% | |
| Residential REITs | - | - | - | 0.51% | |
| Health Care REITs | - | - | - | 0.45% | |
| Office REITs | - | - | - | 0.32% | |
| Cash and Equivalents | 0.17% | - | - | - | |
| Alternative Trading Strategies | 0.06% | - | - | - | |
| Alternative Trading Strategies | - | 0.06% | - | - | |
| Alternative Trading Strategies | - | - | 0.06% | - | |
| Alternative Trading Strategies | - | - | - | 0.06% | |
Regional Allocation
| North America | 91.11% | |
| Developed Europe - Excl UK | 6.77% | |
| Property | 1.89% | |
| Cash and Equivalents | 0.17% | |
| Non-Classified | 0.06% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 100.71% | |
| US Dollar | 0.03% | |
| Cash | -0.73% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| North America | 91.11% | - | |
United States
|
- | 91.11% | |
| Developed Europe - Excl UK | 6.77% | - | |
Ireland
|
- | 3.89% | |
Netherlands
|
- | 1.65% | |
Switzerland
|
- | 1.23% | |
| Property | 1.89% | - | |
| Cash and Equivalents | 0.17% | - | |
| Non-Classified | 0.06% | - | |
Breakdown By Market Cap (%)
| Mega |
|
84.00% |
| Large |
|
14.55% |
| Non-Classified |
|
1.28% |
| Cash |
|
0.17% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | CONOCOPHILLIPS | 2.96% | Non-Renewable Energy | United States |
| 2 | WELLS FARGO & COMPANY | 2.47% | Banks | United States |
| 3 | MORGAN STANLEY | 2.34% | Investment Banking & Brokerage Services | United States |
| 4 | AIR PRODUCTS AND CHEMICALS | 2.25% | Chemicals | United States |
| 5 | BLACKROCK | 2.24% | Investment Banking & Brokerage Services | United States |
| 6 | UNITEDHEALTH GROUP INCORPORATED | 2.22% | Health Care Providers | United States |
| 7 | COMCAST CORP(NEW) | 2.20% | Telecommunications Service Providers | United States |
| 8 | NORFOLK SOUTHERN CORPORATION | 2.12% | Industrial Transportation | United States |
| 9 | BANK OF AMERICA CORP | 2.09% | Banks | United States |
| 10 | JOHNSON & JOHNSON | 2.00% | Pharmaceuticals & Biotechnology | United States |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Technology | - | 9.29% | - | - | - | - | - | - | 9.29% |
| Telecommunications | - | 2.87% | - | - | - | - | - | - | 2.87% |
| Financials | - | 20.98% | - | - | - | - | - | - | 20.98% |
| Real Estate | - | 0.32% | - | - | - | 1.89% | - | - | 2.21% |
| Consumer Discretionary | - | 7.60% | - | - | - | - | - | - | 7.60% |
| Consumer Staples | - | 10.06% | - | - | - | - | - | - | 10.06% |
| Energy | - | 8.44% | - | - | - | - | - | - | 8.44% |
| Utilities | - | 5.61% | - | - | - | - | - | - | 5.61% |
| Health Care | - | 14.74% | - | - | - | - | - | - | 14.74% |
| Industrials | - | 15.71% | - | - | - | - | - | - | 15.71% |
| Basic Materials | - | 2.25% | - | - | - | - | - | - | 2.25% |
| Cash and Equivalents | - | - | - | - | - | - | - | -0.06% | -0.06% |
| Non-Classified | - | - | - | - | - | - | 0.06% | 0.23% | 0.30% |
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Identification Codes
| Sedol Code | B3FJQ48 |
| Mex Code | - |
| Isin Code | GB00B3FJQ482 |
| Citi Code | EBQ8 |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.79% |
Aims and Benchmark
| Aims | To provide a portfolio designed to achieve income by investing primarily in US equities in any economic sector whilst participating in long term capital growth. |
| Benchmark | S&P 500 Total Return Net |
| Benchmark Category | - |
| IA Sector | North America |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | ICVC |
| Launch price | £0.50 |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Quarterly |
| Distribution Type | Dividend |
| Distribution Payment Basis | Net |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 01 November | 30 January |
| 01 February | 30 April |
| 01 May | 31 July |
| 01 August | 31 October |
Ratings
| FE Crown |  |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| - | - |
Fund Administration
| Fund Trustee/Depository | The National Westminster Bank plc |
| Fund Administrator | Internal |
| Fund Registrar | Internal |
| Fund Custodian | Internal |
Group Details
| Group name | JPMorgan Asset Management |
| Group address | 60 Victoria Embankment London EC4Y 0JP United Kingdom |
| Group telephone | 0800 727 770 |
| Dealing telephone | 0207 742 9909 |
| ifaenquiry@jpmorgan.com | |
| Homepage | www.jpmorganassetmanagement.com/ |
| Fax number | 0207 742 9010 |
Dealing
| Minimum Investment | £5000000 |
| Minimum Top Up | £100000 |
| Minimum Regular Saving | - |
| Settlement Period: Buy | 3 days |
| Settlement Period: Sell | 3 days |
| Pricing Basis | Forward |
| Dealing Decimals | 3 |
Important Information
Ongoing charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | 3.70 |
| Beta | 0.53 |
| Sharpe | 0.75 |
| Standard Deviation | 8.64 |
| Info Ratio | -0.19 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | Yes |
| Emerging Markets | No |
| Concentrated Portfolio | No |
| Smaller Companies | No |
| High Yield Bonds | No |
| Sector Specific | No |
| Geared Investments | No |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | No |
| Exchange Rate | Yes |
| Higher Risk | No |
| Performance Charges | No |
| Derivative Exposure | No |
| Offshore | No |
| Income Eroding Capital Growth | Yes |
| Umbrella Liabilities | Yes |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | No |
| Ethical Restrictions | No |
| Liquidity | No |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Charges to Capital
Part, or all of the periodic annual management fee(s) and expenses may be charged to capital which could increase the potential for the capital value of your investment to be eroded. Your capital could also decrease if income withdrawals exceed the growth rate of the fund(s).
Value of Investments
The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.
Investments Long Term
Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.
Exchange Rate
This fund invests in securities outside the UK. The value of investments and any income from them may therefore decrease or increase as a result of changes in exchange rates between currencies.
Income Eroding Capital Growth
The fund focuses on providing an income, which can reduce the prospects for capital growth, and in some cases the capital value may fall.
Umbrella Liabilities
If the liabilities of one fund were to exceed its assets, the other funds within the scheme might have to transfer across money to cover the liabilities.
Returns Are Not Guaranteed
What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.
Inflation
Inflation will reduce the real value of your investments in future.
Taxation and Tax Relief
Levels of taxation and tax relief are subject to change.
Important Information
The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Important Information
Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage. "Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.