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Richard D. Taormina, managing director, is head of the Tax Aware Strategies team within our Global Fixed Income, Currency & Commodities (GFICC) group. Based in New York, Rick is responsible for managing municipal and tax-aware mutual funds, high net worth and institutional fixed income accounts, and quantitative analysis. In 2001, Rick initiated a process that allows separately managed accounts to benefit from the power of the JPMorgan platform, including systematic strategic management, institutional level trade execution, and improved portfolio benchmarking. Rick also expanded the use of quantitative analysis and tools, allowing individuals to benefit from strategies previously available only to institutional and taxable buyers. Rick joined the firm as a state-specific mutual fund manager and strategist. Prior to joining the firm in 1997, Rick was a senior trader for national, high-yield, and state-specific funds at the Vanguard Group. He has been a municipal bond manager since 1990. Rick holds a B.A. in economics from the University of Delaware, an M.B.A. in finance from Wilmington College, and is a Certified Financial Planner (CFP).Education
Kimberly A. Bingle, CFA, is a member of the Tax Aware and Insurance Asset Management Teams. An employee of J.P. Morgan since 1998, Kimberly has been a member of the Tax Free Bond Team and manager of the J.P. Morgan Arizona, J.P. Morgan Michigan, and JPMorgan West Virginia Tax Free Bond Funds. In addition, she is the tax-exempt manager of insurance accounts, institutional accounts, and private client municipal bond portfolios. Prior to joining the firm, Kimberly was a senior securities portfolio manager at Nationwide Insurance Company in Columbus, Ohio.Education
The Fund's fixed income securities are subject to interest rate risk. If rates increase, the value of the Fund's investments generally declines. For some investors, income may be subject to the Alternative Minimum Tax. Capital gains, if any, are federally taxable. Income may be subject to state and local taxes. The Fund may invest in futures contracts and derivatives. Many derivatives create leverage that can cause the Fund to be more volatile than it would be if it had not used derivatives.
For some investors, income may be subject to the Alternative Minimum Tax. Capital gains, if any, are federally taxable. Income may be subject to state and local taxes.