JPMorgan Fund ICVC US Equity Income Class C Inc
Report And Accounts
Simplified Prospectus / KIID
Performance
Discrete performance - to last month end
| 30/11/20 to 30/11/21 |
30/11/21 to 30/11/22 |
30/11/22 to 30/11/23 |
30/11/23 to 30/11/24 |
30/11/24 to 30/11/25 |
|
|---|---|---|---|---|---|
| Fund | 22.2% | 13.4% | -8.0% | 28.1% | -0.2% |
| Sector | 25.2% | -3.7% | 6.1% | 30.7% | 5.7% |
| Rank | 161/213 | 17/231 | 235/243 | 169/248 | 222/262 |
| Quartile | 4 | 1 | 4 | 3 | 4 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/11/25 |
5 Years to 30/11/25 |
10 Years to 30/11/25 |
||
| Fund | 5.6% | 10.3% | 11.4% | |
| Sector | 13.6% | 12.1% | 13.5% | |
| Rank | 225/244 | 152/213 | 111/141 | |
| Quartile | 4 | 3 | 4 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| WELLS FARGO & COMPANY | 3.48 |
| BANK OF AMERICA CORP | 3.03 |
| ALPHABET | 2.52 |
| PHILIP MORRIS INTERNATIONAL | 2.31 |
| JOHNSON & JOHNSON | 2.14 |
| MICROSOFT CORPORATION | 2.02 |
| EATON CORP | 1.98 |
| AMERICAN EXPRESS COMPANY | 1.97 |
| CONOCOPHILLIPS | 1.94 |
| UNION PACIFIC CORPORATION | 1.90 |
| Total | 23.29 |
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 (17/12/2025) | 511.40p |
| Historic yield | 2.05% |
| Fund size (30/11/2025) | £2524.82m |
| Number of holdings | 563 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.63% |
| Launch date | 15/01/2009 |
Asset Allocation
| International Equities | 95.38% | |
| Property | 2.29% | |
| Cash and Equivalents | 0.14% | |
| Other Assets | 2.19% |
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 investment can go down as well as up so you might get back less than you put in.
This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their 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 | 95.38% | |
| Property | 2.29% | |
| Cash and Equivalents | 0.14% | |
| Other Assets | 2.19% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Financials | 20.38% | - | - | - | |
| Financial Services | - | 9.50% | - | - | |
| Investment Banking & Brokerage Services | - | - | 9.50% | - | |
| Investment Services | - | - | - | 7.68% | |
| Asset Managers & Custodians | - | - | - | 1.82% | |
| Banks | - | 7.58% | - | - | |
| Banks | - | - | 7.58% | - | |
| Banks | - | - | - | 7.58% | |
| Insurance | - | 3.30% | - | - | |
| Non-life Insurance | - | - | 3.30% | - | |
| Property & Casualty Insurance | - | - | - | 2.33% | |
| Insurance Brokers | - | - | - | 0.97% | |
| Industrials | 17.34% | - | - | - | |
| Industrial Goods & Services | - | 16.69% | - | - | |
| General Industrials | - | - | 5.40% | - | |
| Diversified Industrials | - | - | - | 4.88% | |
| Containers & Packaging | - | - | - | 0.52% | |
| Industrial Support Services | - | - | 4.99% | - | |
| Transaction Processing Services | - | - | - | 4.80% | |
| Professional Business Support Services | - | - | - | 0.20% | |
| Industrial Transportation | - | - | 2.88% | - | |
| Railroads | - | - | - | 2.88% | |
| Industrial Engineering | - | - | 1.72% | - | |
| Machinery: Agricultural | - | - | - | 1.72% | |
| Aerospace & Defence | - | - | 1.69% | - | |
| Aerospace | - | - | - | 1.69% | |
| Construction & Materials | - | 0.66% | - | - | |
| Construction & Materials | - | - | 0.66% | - | |
| Building: Climate Control | - | - | - | 0.66% | |
| Technology | 12.90% | - | - | - | |
| Technology | - | 12.90% | - | - | |
| Technology Hardware & Equipment | - | - | 6.60% | - | |
| Semiconductors | - | - | - | 3.92% | |
| Electronic Components | - | - | - | 1.19% | |
| Computer Hardware | - | - | - | 1.03% | |
| Production Technology Equipment | - | - | - | 0.46% | |
| Software & Computer Services | - | - | 6.30% | - | |
| Consumer Digital Services | - | - | - | 2.52% | |
| Software | - | - | - | 2.02% | |
| Computer Services | - | - | - | 1.76% | |
| Health Care | 12.11% | - | - | - | |
| Health Care | - | 12.11% | - | - | |
| Pharmaceuticals & Biotechnology | - | - | 5.92% | - | |
| Pharmaceuticals | - | - | - | 5.92% | |
| Medical Equipment & Services | - | - | 4.08% | - | |
| Medical Equipment | - | - | - | 2.98% | |
| Medical Services | - | - | - | 0.56% | |
| Medical Supplies | - | - | - | 0.55% | |
| Health Care Providers | - | - | 2.11% | - | |
| Health Care Management Services | - | - | - | 2.11% | |
| Consumer Discretionary | 9.17% | - | - | - | |
| Retail | - | 6.03% | - | - | |
| Retailers | - | - | 6.03% | - | |
| Home Improvement Retailers | - | - | - | 3.22% | |
| Diversified Retailers | - | - | - | 1.42% | |
| Apparel Retailers | - | - | - | 1.39% | |
| Travel & Leisure | - | 2.41% | - | - | |
| Travel & Leisure | - | - | 2.41% | - | |
| Restaurants & Bars | - | - | - | 2.41% | |
| Consumer Products & Services | - | 0.73% | - | - | |
| Personal Goods | - | - | 0.73% | - | |
| Footwear | - | - | - | 0.73% | |
| Consumer Staples | 8.40% | - | - | - | |
| Food, Beverage & Tobacco | - | 5.10% | - | - | |
| Tobacco | - | - | 2.31% | - | |
| Tobacco | - | - | - | 2.31% | |
| Beverages | - | - | 1.90% | - | |
| Soft Drinks | - | - | - | 1.90% | |
| Food Producers | - | - | 0.90% | - | |
| Food Products | - | - | - | 0.90% | |
| Personal Care, Drug & Grocery Stores | - | 3.29% | - | - | |
| Personal Care, Drug & Grocery Stores | - | - | 3.29% | - | |
| Drug Retailers | - | - | - | 2.02% | |
| Personal Products | - | - | - | 1.27% | |
| Utilities | 5.60% | - | - | - | |
| Utilities | - | 5.60% | - | - | |
| Electricity | - | - | 5.08% | - | |
| Conventional Electricity | - | - | - | 5.08% | |
| Waste & Disposal Services | - | - | 0.51% | - | |
| Waste & Disposal Services | - | - | - | 0.51% | |
| Energy | 5.09% | - | - | - | |
| Energy | - | 5.09% | - | - | |
| Non-Renewable Energy | - | - | 5.09% | - | |
| Oil: Crude Producers | - | - | - | 3.22% | |
| Integrated Oil & Gas | - | - | - | 1.87% | |
| Real Estate | 3.31% | - | - | - | |
| Real Estate | - | 3.31% | - | - | |
| Real Estate Investment Trusts | - | - | 3.31% | - | |
| Health Care REITs | - | - | - | 1.03% | |
| Industrial REITs | - | - | - | 0.84% | |
| Infrastructure REITs | - | - | - | 0.53% | |
| Other Specialty REITs | - | - | - | 0.50% | |
| Residential REITs | - | - | - | 0.41% | |
| Non-Classified | 2.19% | - | - | - | |
| Non-Classified | - | 0.69% | - | - | |
| Non-Classified | - | - | 0.69% | - | |
| Non-Classified | - | - | - | 0.69% | |
| Basic Materials | 1.82% | - | - | - | |
| Chemicals | - | 1.82% | - | - | |
| Chemicals | - | - | 1.82% | - | |
| Specialty Chemicals | - | - | - | 1.82% | |
| Telecommunications | 1.55% | - | - | - | |
| Telecommunications | - | 1.55% | - | - | |
| Telecommunications Service Providers | - | - | 1.55% | - | |
| Cable Television Services | - | - | - | 0.84% | |
| Telecommunications Services | - | - | - | 0.71% | |
| Cash and Equivalents | 0.14% | - | - | - | |
Regional Allocation
| North America | 89.71% | |
| Developed Europe - Excl UK | 5.67% | |
| Property | 2.29% | |
| Non-Classified | 2.19% | |
| Cash and Equivalents | 0.14% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 100.44% | |
| US Dollar | 0.01% | |
| Cash | -0.45% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| North America | 89.71% | - | |
United States
|
- | 89.71% | |
| Developed Europe - Excl UK | 5.67% | - | |
Ireland
|
- | 4.15% | |
Netherlands
|
- | 0.94% | |
Switzerland
|
- | 0.57% | |
| Property | 2.29% | - | |
| Non-Classified | 2.19% | - | |
| Cash and Equivalents | 0.14% | - | |
Breakdown By Market Cap (%)
| Mega |
|
80.59% |
| Large |
|
13.07% |
| Non-Classified |
|
6.20% |
| Cash |
|
0.14% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | WELLS FARGO & COMPANY | 3.48% | Banks | United States |
| 2 | BANK OF AMERICA CORP | 3.03% | Banks | United States |
| 3 | ALPHABET | 2.52% | Software & Computer Services | United States |
| 4 | PHILIP MORRIS INTERNATIONAL | 2.31% | Tobacco | United States |
| 5 | JOHNSON & JOHNSON | 2.14% | Pharmaceuticals & Biotechnology | United States |
| 6 | MICROSOFT CORPORATION | 2.02% | Software & Computer Services | United States |
| 7 | EATON CORP | 1.98% | General Industrials | Ireland |
| 8 | AMERICAN EXPRESS COMPANY | 1.97% | Industrial Support Services | United States |
| 9 | CONOCOPHILLIPS | 1.94% | Non-Renewable Energy | United States |
| 10 | UNION PACIFIC CORPORATION | 1.90% | Industrial Transportation | United States |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Technology | - | 12.90% | - | - | - | - | - | - | 12.90% |
| Telecommunications | - | 1.55% | - | - | - | - | - | - | 1.55% |
| Financials | - | 20.38% | - | - | - | - | - | - | 20.38% |
| Real Estate | - | 1.03% | - | - | - | 2.29% | - | - | 3.31% |
| Consumer Discretionary | - | 9.17% | - | - | - | - | - | - | 9.17% |
| Consumer Staples | - | 8.40% | - | - | - | - | - | - | 8.40% |
| Energy | - | 5.09% | - | - | - | - | - | - | 5.09% |
| Utilities | - | 5.60% | - | - | - | - | - | - | 5.60% |
| Health Care | - | 12.11% | - | - | - | - | - | - | 12.11% |
| Industrials | - | 17.34% | - | - | - | - | - | - | 17.34% |
| Basic Materials | - | 1.82% | - | - | - | - | - | - | 1.82% |
| Cash and Equivalents | - | - | - | - | - | - | - | 0.14% | 0.14% |
| Non-Classified | - | - | - | - | - | - | 2.19% | - | 2.19% |
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use.
This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their 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 | B3FJQ59 |
| Mex Code | C5UEIT |
| Isin Code | GB00B3FJQ599 |
| Citi Code | EBQ7 |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.63% |
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 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 |
Important Information
Ongoing charges may vary in the future and may be higher than they are now.
This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their 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 investment can go down as well as up so you might get back less than you put in.
This factsheet is for information purposes only. If there is information or terminology included that you would like to discuss, then please contact an adviser. Investors should refer to their 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.