JPMorgan Fund ICVC Global Equity Income Class C - Net (Hedged) Acc
Report And Accounts
Simplified Prospectus / KIID
Performance
Discrete performance - to last month end
| 31/03/21 to 31/03/22 |
31/03/22 to 31/03/23 |
31/03/23 to 31/03/24 |
31/03/24 to 31/03/25 |
31/03/25 to 31/03/26 |
|
|---|---|---|---|---|---|
| Fund | 14.7% | -0.5% | 16.5% | 5.3% | 12.2% |
| Sector | 11.8% | 2.3% | 13.3% | 4.8% | 12.3% |
| Rank | 3/47 | 12/49 | 25/52 | 39/53 | 36/55 |
| Quartile | 1 | 1 | 2 | 3 | 3 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 31/03/26 |
5 Years to 31/03/26 |
10 Years to 31/03/26 |
||
| Fund | 11.2% | 9.5% | 10.7% | |
| Sector | 10.1% | 8.8% | 9.3% | |
| Rank | 38/52 | 22/47 | 8/33 | |
| Quartile | 3 | 2 | 1 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED | 6.52 |
| MICROSOFT CORPORATION | 3.95 |
| BROADCOM | 2.78 |
| NEXTERA ENERGY | 2.66 |
| TRANE TECHNOLOGIES | 2.46 |
| LOWES COMPANIES | 2.26 |
| YUM BRANDS | 2.25 |
| SAFRAN | 2.14 |
| ABBVIE | 1.94 |
| JOHNSON & JOHNSON | 1.94 |
| Total | 28.92 |
Fund Aims
To provide a portfolio designed to achieve high and rising income by investing globally, primarily in equities, in any economic sector whilst participating in long term capital growth.
Fund Manager
Sam Witherow, Executive Director, is a portfolio manager in the International Equity Group, based in London. Sam has focused primarily on the Global Unconstrained portfolio since 2014. An employee since 2008, he was previously a global sector specialist responsible for covering the global energy sector. Sam obtained a BSc (Hons) in Economics and Politics from the University of Bristol and is a CFA charterholder.
Helge Skibeli, managing director, is the Global Head of Developed Market Equity Research and CIO for the Research Driven Process (RDP) for International Equities, and U.S .Equity Core business. An employee since 1990, Helge became head of U.S. research in March 2002, Global Head of Developed Market Equity Research in July 2015 and the CIO for RDP and US Equity Core in 2017. Prior to his current role, he was head of J.P. Morgan Investment Management (Singapore) and head of Investment for Asia Pacific ex-Japan. Before this, he was head of Pacific Rim ex-Japan research. Previously, Helge was an analyst in the Equity Research department in London where he followed the automobile and steel sectors. Prior to that, he worked in security analysis and equity sales in the Norwegian market. Helge obtained an M.A. in general business from the Norwegian School of Management and earned an M.B.A. from the University of Wisconsin. He is a CFA charterholder.
Fund Overview
| Mid (02/04/2026) | 396.10p |
| Historic yield | 1.86% |
| Fund size (28/02/2026) | £736.82m |
| Number of holdings | 353 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.87% |
| Launch date | 07/02/2007 |
Asset Allocation
| International Equities | 91.42% | |
| UK Equities | 7.23% | |
| Cash and Equivalents | 0.14% | |
| International Bonds | 0.07% | |
| UK Corporate Bonds | 0.02% | |
| Other Assets | 1.12% |
Asset Allocation
| International Equities | 91.42% | |
| UK Equities | 7.23% | |
| Cash and Equivalents | 0.14% | |
| International Bonds | 0.07% | |
| UK Corporate Bonds | 0.02% | |
| Other Assets | 1.12% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Technology | 23.47% | - | - | - | |
| Technology | - | 23.47% | - | - | |
| Technology Hardware & Equipment | - | - | 14.65% | - | |
| Semiconductors | - | - | - | 11.83% | |
| Production Technology Equipment | - | - | - | 1.86% | |
| Electronic Components | - | - | - | 0.96% | |
| Software & Computer Services | - | - | 8.82% | - | |
| Software | - | - | - | 3.95% | |
| Consumer Digital Services | - | - | - | 3.29% | |
| Computer Services | - | - | - | 1.57% | |
| Financials | 19.29% | - | - | - | |
| Banks | - | 9.26% | - | - | |
| Banks | - | - | 9.26% | - | |
| Banks | - | - | - | 9.26% | |
| Financial Services | - | 6.69% | - | - | |
| Investment Banking & Brokerage Services | - | - | 6.69% | - | |
| Investment Services | - | - | - | 6.69% | |
| Insurance | - | 3.34% | - | - | |
| Non-life Insurance | - | - | 3.34% | - | |
| Reinsurance | - | - | - | 1.68% | |
| Insurance Brokers | - | - | - | 0.86% | |
| Full Line Insurance | - | - | - | 0.80% | |
| Industrials | 14.96% | - | - | - | |
| Industrial Goods & Services | - | 12.49% | - | - | |
| General Industrials | - | - | 3.83% | - | |
| Diversified Industrials | - | - | - | 3.83% | |
| Industrial Support Services | - | - | 3.03% | - | |
| Transaction Processing Services | - | - | - | 2.43% | |
| Professional Business Support Services | - | - | - | 0.60% | |
| Aerospace & Defence | - | - | 2.14% | - | |
| Aerospace | - | - | - | 2.14% | |
| Industrial Transportation | - | - | 2.10% | - | |
| Commercial Vehicles & Parts | - | - | - | 2.10% | |
| Electronic & Electrical Equipment | - | - | 1.39% | - | |
| Electronic Equipment: Other | - | - | - | 1.39% | |
| Construction & Materials | - | 2.46% | - | - | |
| Construction & Materials | - | - | 2.46% | - | |
| Building: Climate Control | - | - | - | 2.46% | |
| Consumer Discretionary | 14.39% | - | - | - | |
| Travel & Leisure | - | 6.09% | - | - | |
| Travel & Leisure | - | - | 6.09% | - | |
| Restaurants & Bars | - | - | - | 4.97% | |
| Airlines | - | - | - | 1.12% | |
| Retail | - | 2.26% | - | - | |
| Retailers | - | - | 2.26% | - | |
| Home Improvement Retailers | - | - | - | 2.26% | |
| Media | - | 2.11% | - | - | |
| Media | - | - | 2.11% | - | |
| Entertainment | - | - | - | 1.24% | |
| Media Agencies | - | - | - | 0.86% | |
| Consumer Products & Services | - | 2.05% | - | - | |
| Leisure Goods | - | - | 1.33% | - | |
| Consumer Electronics | - | - | - | 1.33% | |
| Personal Goods | - | - | 0.72% | - | |
| Clothing & Accessories | - | - | - | 0.72% | |
| Automobiles & Parts | - | 1.88% | - | - | |
| Automobiles & Parts | - | - | 1.88% | - | |
| Automobiles | - | - | - | 1.34% | |
| Auto Parts | - | - | - | 0.54% | |
| Health Care | 10.15% | - | - | - | |
| Health Care | - | 10.15% | - | - | |
| Pharmaceuticals & Biotechnology | - | - | 8.50% | - | |
| Pharmaceuticals | - | - | - | 8.50% | |
| Medical Equipment & Services | - | - | 1.17% | - | |
| Medical Equipment | - | - | - | 1.17% | |
| Health Care Providers | - | - | 0.48% | - | |
| Health Care Management Services | - | - | - | 0.48% | |
| Utilities | 6.04% | - | - | - | |
| Utilities | - | 6.04% | - | - | |
| Electricity | - | - | 3.41% | - | |
| Conventional Electricity | - | - | - | 3.41% | |
| Gas, Water & Multi-utilities | - | - | 2.63% | - | |
| Multi-Utilities | - | - | - | 2.63% | |
| Energy | 4.84% | - | - | - | |
| Energy | - | 4.84% | - | - | |
| Non-Renewable Energy | - | - | 4.84% | - | |
| Integrated Oil & Gas | - | - | - | 2.33% | |
| Oil Equipment & Services | - | - | - | 1.57% | |
| Pipelines | - | - | - | 0.93% | |
| Consumer Staples | 2.92% | - | - | - | |
| Food, Beverage & Tobacco | - | 2.24% | - | - | |
| Beverages | - | - | 1.35% | - | |
| Soft Drinks | - | - | - | 1.35% | |
| Food Producers | - | - | 0.88% | - | |
| Food Products | - | - | - | 0.88% | |
| Personal Care, Drug & Grocery Stores | - | 0.68% | - | - | |
| Personal Care, Drug & Grocery Stores | - | - | 0.68% | - | |
| Personal Products | - | - | - | 0.68% | |
| Basic Materials | 1.41% | - | - | - | |
| Basic Resources | - | 1.41% | - | - | |
| Industrial Metals & Mining | - | - | 0.90% | - | |
| General Mining | - | - | - | 0.90% | |
| Precious Metals & Mining | - | - | 0.51% | - | |
| Gold Mining | - | - | - | 0.51% | |
| Non-Classified | 1.12% | - | - | - | |
| Telecommunications | 0.72% | - | - | - | |
| Telecommunications | - | 0.72% | - | - | |
| Telecommunications Service Providers | - | - | 0.72% | - | |
| Telecommunications Services | - | - | - | 0.72% | |
| Real Estate | 0.47% | - | - | - | |
| Real Estate | - | 0.47% | - | - | |
| Real Estate Investment Trusts | - | - | 0.47% | - | |
| Infrastructure REITs | - | - | - | 0.47% | |
| Cash and Equivalents | 0.14% | - | - | - | |
| Bonds | 0.09% | - | - | - | |
Regional Allocation
| North America | 51.04% | |
| Developed Europe - Excl UK | 21.94% | |
| Emerging Asia | 8.65% | |
| UK | 7.25% | |
| Japan | 5.54% | |
| Developed Asia | 2.97% | |
| Non-Classified | 1.12% | |
| South & Central America | 0.83% | |
| Middle East & Africa | 0.51% | |
| Other Regions | 0.15% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 99.77% | |
| Cash | 0.14% | |
| Pound Sterling | 0.09% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| North America | 51.04% | - | |
United States
|
- | 50.09% | |
Canada
|
- | 0.95% | |
| Developed Europe - Excl UK | 21.94% | - | |
Ireland
|
- | 6.80% | |
France
|
- | 5.03% | |
Germany
|
- | 4.13% | |
Netherlands
|
- | 3.49% | |
Sweden
|
- | 1.47% | |
Finland
|
- | 0.99% | |
Luxembourg
|
- | 0.01% | |
| Emerging Asia | 8.65% | - | |
Taiwan
|
- | 6.52% | |
China
|
- | 1.43% | |
South Korea
|
- | 0.47% | |
Indonesia
|
- | 0.23% | |
| UK | 7.25% | - | |
United Kingdom
|
- | 7.25% | |
| Japan | 5.54% | - | |
Japan
|
- | 5.54% | |
| Developed Asia | 2.97% | - | |
Singapore
|
- | 2.21% | |
Hong Kong
|
- | 0.76% | |
| Non-Classified | 1.12% | - | |
| South & Central America | 0.83% | - | |
Brazil
|
- | 0.83% | |
| Middle East & Africa | 0.51% | - | |
South Africa
|
- | 0.51% | |
| Cash and Equivalents | 0.14% | - | |
| Australia & New Zealand | 0.01% | - | |
Australia
|
- | 0.01% | |
Breakdown By Market Cap (%)
| Mega |
|
81.87% |
| Large |
|
10.92% |
| Non-Classified |
|
6.98% |
| Bonds |
|
0.09% |
| Cash |
|
0.14% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED | 6.52% | Technology Hardware & Equipment | Taiwan |
| 2 | MICROSOFT CORPORATION | 3.95% | Software & Computer Services | United States |
| 3 | BROADCOM | 2.78% | Technology Hardware & Equipment | United States |
| 4 | NEXTERA ENERGY | 2.66% | Electricity | United States |
| 5 | TRANE TECHNOLOGIES | 2.46% | Construction & Materials | Ireland |
| 6 | LOWES COMPANIES | 2.26% | Retailers | United States |
| 7 | YUM BRANDS | 2.25% | Travel & Leisure | United States |
| 8 | SAFRAN | 2.14% | Aerospace & Defence | France |
| 9 | ABBVIE | 1.94% | Pharmaceuticals & Biotechnology | United States |
| 10 | JOHNSON & JOHNSON | 1.94% | 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 | 1.15% | 22.32% | - | - | - | - | - | - | 23.47% |
| Telecommunications | - | 0.72% | - | - | - | - | - | - | 0.72% |
| Financials | 1.04% | 18.25% | - | - | - | - | - | - | 19.29% |
| Real Estate | - | 0.47% | - | - | - | - | - | - | 0.47% |
| Consumer Discretionary | - | 14.39% | - | - | - | - | - | - | 14.39% |
| Consumer Staples | - | 2.92% | - | - | - | - | - | - | 2.92% |
| Energy | 1.52% | 3.32% | - | - | - | - | - | - | 4.84% |
| Utilities | 0.72% | 5.32% | - | - | - | - | - | - | 6.04% |
| Health Care | 1.89% | 8.26% | - | - | - | - | - | - | 10.15% |
| Industrials | - | 14.96% | - | - | - | - | - | - | 14.96% |
| Basic Materials | 0.90% | 0.51% | - | - | - | - | - | - | 1.41% |
| Cash and Equivalents | - | - | - | - | - | - | - | 0.14% | 0.14% |
| Bonds | - | - | 0.02% | 0.07% | - | - | - | - | 0.09% |
| Non-Classified | - | - | - | - | - | - | 1.12% | - | 1.12% |
Identification Codes
| Sedol Code | B8DB5B1 |
| Mex Code | C5EGNH |
| Isin Code | GB00B8DB5B19 |
| Citi Code | GFWV |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.87% |
Aims and Benchmark
| Aims | To provide a portfolio designed to achieve high and rising income by investing globally, primarily in equities, in any economic sector whilst participating in long term capital growth. |
| Benchmark | MSCI World Index (Net) |
| Benchmark Category | - |
| IA Sector | Global Equity Income |
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 | 31 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 Fund ICVC |
| Group address | JPMorgan Fund ICVC |
| Group telephone | 1234567891 |
| Dealing telephone | - |
| - | |
| Homepage | www.JPMAM.com |
| Fax number | - |
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 |
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | 1.71 |
| Beta | 1.02 |
| Sharpe | 0.79 |
| Standard Deviation | 9.79 |
| Info Ratio | 0.41 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | Yes |
| Emerging Markets | Yes |
| Concentrated Portfolio | No |
| Smaller Companies | Yes |
| 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 | No |
| 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).
Emerging Markets
The fund invests in emerging markets. Generally less well regulated than the UK. There is an increased chance of political and economic instability with less reliable custody, dealing and settlement arrangements. The market(s) can be less liquid. If a fund investing in markets is affected by currency exchange rates, the investment could either increase or decrease. These investments therefore carry more risk.
Smaller Companies
The fund invests in smaller companies. Smaller companies shares can be more volatile and less liquid than larger company shares, so smaller companies funds can carry more risk.
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.
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.