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JPMorgan Global Bond Opportunities Fund - A (GBOAX)

JPMorgan Global Bond Opportunities Fund - A (GBOAX)
Overview Performance and Ratings Holdings and Details Management Dividends and Capital Gains Fees and Expenses Sales Resources
Top ten holdings (as of 8/31/2015)
1. United Kingdom Gilt, 1.75%, 1/22/2017 2.4%
2. Spain Government Bond, 3.80%, 4/30/2024 1.9%
3. United Mexican States, 10.00%, 12/5/2024 1.6%
4. Republic of Hungary, 5.50%, 6/24/2025 1.1%
5. Republic of South Africa, 10.50%, 12/21/2026 1.1%
6. Italy Buoni Poliennali Del Tesoro, 4.75%, 9/1/2044 0.6%
7. Spain Government Bond, 5.15%, 10/31/2044 0.6%
8. COMM Mortgage Trust, Class A5, 3.70%, 8/10/2048 0.6%
9. Republic of Hungary, 3.00%, 6/26/2024 0.6%
10. VOLT XXXVII LLC, 3.62%, 7/25/2045 0.6%
Total of top ten 11.1%
Portfolio breakdown* (as of 8/31/2015)
Asset Backed Securities 4.9%
Cash/Cash-Equivalent 6.9%
Corporate (High Yield) 42.2%
Corporate (Investment Grade) 12.5%
Emerging Market Debt 10.4%
Government 6.6%
Mortgage (Non-Call) 9.8%
Mortgage (Prepay Sensitive) 4.5%
Other 2.3%

* Due to rounding, values may not total 100%.

Portfolio breakdown (as of 8/31/2015)
Country breakdown *
United States 51.0%
United Kingdom 8.6%
Luxembourg 4.2%
Spain 3.0%
Italy 2.5%
France 2.4%
Netherlands 2.4%
Mexico 2.1%
Other 16.1%
Short-Term Investments 7.6%

* Due to rounding, values may not total 100%.

Average life* (as of 8/31/2015)
Less than one year 13.0%
Years 1-3 16.7%
Years 3-5 24.7%
Years 5-7 14.2%
Years 7-10 23.4%
Years 10-20 3.5%
Years 20+ 4.5%
Duration 4.2 years
Average Maturity 11.78 years
Average Life 6.39 years

* Due to rounding, values may not total 100%.

Currency allocation* (% total net assets) (as of 8/31/2015)
USD 100.00
GBP 0.10
ZAR -0.10

*Due to rounding, values may not total 100%. Net currency exposure is inclusive of the fund's derivative positions.

Contribution to duration (in years) (as of 8/31/2015)
Corporate (High Yield) 1.48
Corporate (Investment Grade) 0.84
Emerging Market Debt 0.67
Government 0.47
Mortgage (Non-Call) 0.35
Other 0.15
Mortgage (Prepay Sensitive) 0.10
Asset Backed Securities 0.09
Treasuries/Futures 0.05
Portfolio stats (as of 8/31/2015)
Number of Holdings 1144
Fund Assets $1.13
(in billions)
Turnover Ratio 77.48%
(Trailing 12 month) (8/31/2014)
Weighted bond equivalent yield 4.84%
Quality* (as of 8/31/2015)
AAA 12.8%
AA 2.9%
A 6.1%
BBB 19.1%
BB 28.5%
B 21.5%
CCC & Lower/Other 9.2%

The manager receives credit quality ratings on underlying securities of the portfolio from the three major ratings agencies - S&P, Moody's and Fitch. When calculating the credit quality breakdown, the manager selects the lowest rating of the agencies when all three agencies rate a security. The manager will use the lower of the two ratings if only two agencies rate a security and will use one rating if that is all that is provided. Securities that are not rated by all three agencies are reflected as such.

* Due to rounding, values may not total 100%.

What's this? Mouse over an  underlined  word to see its definition. Check out our glossary >

The Fund's fixed income securities are subject to interest rate risk. If rates increase, the value of the Fund's investments generally declines.

Under normal circumstances, the Fund will invest at least 80% of its Assets in bonds.

The Fund may invest in securities that are below investment grade (i.e., "high yield" or "junk bonds") that are generally rated in the fifth or lower rating categories of Standard & Poor's and Moody's Investors Service. Although these securities tend to provide higher yields than higher-rated securities, there is a greater risk that the Fund's share price will decline.

International investing involves a greater degree of risk and increased volatility. Changes in currency exchange rates and differences in accounting and taxation policies outside the U.S. can raise or lower returns. Also, some overseas markets may not be as politically and economically stable as the United States and other nations. The risks associated with foreign securities are magnified in countries in "emerging markets." These countries may have relatively unstable governments and less-established market economies than developed countries. Emerging markets may face greater social, economic, regulatory and political uncertainties. These risks make emerging market securities more volatile and less liquid than securities issued in more developed countries.

Under normal circumstances, the Fund will invest at least 40% of its total assets in countries other than the United States.

The Fund may invest in futures contracts, options, swaps, forwards and other derivatives. Many derivatives create leverage thereby causing the Fund to be more volatile than it would be if it had not used derivatives. Derivatives may be more sensitive to changes in economic and market conditions and could result in losses that significantly exceed the Fund's original investment.

Total return assumes reinvestment of income.

The top 10 holdings listed reflect only the Fund's long-term investments. Short-term investments are excluded. Holdings are subject to change. The holdings listed should not be considered recommendations to purchase or sell a particular security. Each individual security is calculated as a percentage of the aggregate market value of the securities held in the Fund and does not include the use of derivative positions, where applicable.