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Floating Rate Income Fund - A (JPHAX)

Floating Rate Income Fund - A (JPHAX)
Overview Performance and Ratings Holdings and Details Management Dividends and Capital Gains Fees and Expenses Sales Resources
Performance basics
  Total returns
(as of 4/30/2015)
Annualized returns
(as of 4/30/2015)
  1
Month
3
Month

YTD
1
Year
3
Year
5
Year
Incept
at NAV 0.83% 2.56% 2.68% 1.83% 4.31% N/A 3.77%
With 2.25% max. sales charge -1.48% 0.29% 0.41% -0.44% 3.00% N/A 2.76%
Credit Suisse Leveraged Loan Index 0.90% 2.72% 2.99% 3.52% 5.39% N/A 4.84%**
Barclays U.S. Aggregate Index -0.36% -0.84% 1.24% 4.46% 2.60% N/A 3.47%**
Lipper Loan Participation Funds Index 0.86% 2.73% 2.86% 2.60% 4.37% N/A 4.16%**

Performance Inception Date:6/1/11

**Returns are calculated starting from the month end previous to the performance inception date. The performance quoted is past performance and is not a guarantee of future results.

The performance quoted is past performance and is not a guarantee of future results. Mutual funds are subject to certain market risks. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than original cost. Current performance may be higher or lower than the performance data shown. For performance current to the most recent month-end, please call 1-800-480-4111.

Lipper Index since inception returns are as of month-end. The performance quoted is past performance and is not a guarantee of future results.

 

Cumulative returns (as of 4/30/2015)
  1 Year 3 Year 5 Year Incept
at NAV 1.83% 13.50% N/A 15.57%
With 2.25% max. sales charge -0.44% 9.28% N/A 11.23%
Share price stability
Calendar year returns
 
at NAV
Credit Suisse Leveraged Loan Index
Barclays U.S. Aggregate Index
Lipper Loan Participation Funds Index
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
N/A N/A N/A N/A N/A N/A N/A 8.84% 5.51% 0.03%
N/A N/A N/A N/A N/A N/A N/A 9.43% 6.15% 2.05%
N/A N/A N/A N/A N/A N/A N/A 4.21% -2.02% 5.97%
N/A N/A N/A N/A N/A N/A N/A 8.51% 5.34% 0.69%
Browse your yearly returns: 2005
2014

N/A: Not available at this time


Annual operating expenses (%)
Expense cap expiration date 12/31/2015
Expense cap 1.00%
Total annual operating expenses 1.21%
Fee waivers and/or expense reimbursements 0.19%
Net expenses 1.02%

Fee waivers and/or expense reimbursements,Net Expenses
The Investment Advisor, Administrator and Distributor (the "Service Providers") have contractually agreed to waive fees and/or reimburse expenses to the extent that Total Annual Operating Expenses (excluding Acquired Fund Fees and Expenses, dividend expenses relating to short sales, interest, taxes, expenses related to litigation and potential litigation, extraordinary expenses and expenses related to the Board of Trustees' deferred compensation plan) exceed the expense cap of the average daily net assets through the expense cap expiration date. This contract continues through that date, at which time the Service Providers will determine whether or not to renew or revise it.

Yields
  3/31/2015   4/30/2015
30-Day SEC Yield 3.55% 3.58%
30-Day SEC Yield (Unsubsidized) 3.55% 3.30%
Dividend Yield 3.64% 3.74%

Must be preceded or accompanied by a prospectus

Morningstar ratings (as of 4/30/2015)
Morningstar category: Bank Loan
Overall
194 funds in category
3 Year
194 funds in category

2015, Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its providers; (2) may not be copied or distributed; (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damage or losses arising from any use of this information. Past performance is not a guarantee of future results. For each fund with a three-year history, Morningstar calculates a Morningstar Rating™ metric each month by subtracting the return on a 90-day U.S. Treasury Bill from the fund's load-adjusted return for the same period, and then adjusting this excess return for risk. The top 10% of funds in each broad asset class receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. Past performance is no guarantee of future results. Different share classes may have different ratings.

The Fund may invest all of its assets in Loans that are rated below investment grade. Like other high yield, corporate debt instruments, such Loans are subject to an increased risk of default in the payment of principal and interest as well as the other risks described below. The Fund limits its investments in illiquid securities to no more than 15% of the Fund's net assets at the time of purchase, however loans that are deemed to be liquid at the time of purchase may become illiquid.

The Fund may invest up to 20% of the Fund's total assets in foreign securities and emerging markets.

The Fund may use futures contracts, swaps, and derivatives in connection with its investment strategies. Derivatives are subject to the risk that changes in the value of a derivative may not correlate perfectly with the underlying asset, rate or index.

International investing involves special risks, including economic, political, and currency instability - especially in emerging markets. The Fund's investments in emerging markets could lead to more volatility in the value of the Fund's shares. The small size of securities markets and the low trading volume may lead to a lack of liquidity, which leads to increased volatility. Emerging markets may not provide adequate legal protection for private or foreign investment or private property.

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.

The Fund's investment in equity securities may rise or fall because of changes in the broad market or changes in a company's financial condition, sometimes rapidly or unpredictably. When the value of a fund's securities goes down, an investment in a fund decreases in value.

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

The Credit Suisse Leveraged Loan Index is an unmanaged market value-weighted index designed to represent the investable universe of the U.S. dollar-denominated leverage loan market. The index reflects reinvestment of all distributions and changes in market prices. The performance of the index does not reflect the deduction of expenses associated with a fund, such as investment management fees. By contrast, the performance of the Fund reflects the deduction of the fund expenses, including sales charges if applicable. An individual cannot invest directly in an index.

The Barclays U.S. Aggregate Index is an unmanaged index that represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. The performance of the index does not reflect the deduction of expenses associated with a fund, such as investment management fees. By contrast, the performance of the Fund reflects the deduction of the fund expenses, including sales charges if applicable. An individual cannot invest directly in an index.

The performance of the Lipper Loan Participation Funds Index includes expenses associated with a mutual fund, such as investment management fees. These expenses are not identical to the expenses charged by the Fund

Total return assumes reinvestment of dividends and capital gains distributions and reflects the deduction of any sales charges, where applicable. Performance may reflect the waiver of a portion of the Fund's advisory or administrative fees and/or reimbursement of certain expenses for certain periods since the inception date. If fees had not been waived and/or certain expenses were not reimbursed, performance would have been less favorable.