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1 Source: Morningstar; Select Shares as of 03/31/14; World Bond Category. Ranked for total return for the following time periods: 13 out of 362 for the one-year period; 5 out of 363 for the since inception period, not rated for the three-year period, five-year period, and 10-year period. Different share classes may have different ratings and rankings Fund Inception Date 9/4/12.
2 For S shares as of 3/31/14. The ranking information is provided by Lipper Analytical Services. The JPMorgan Global Bond Opportunities Fund - S shares at NAV was ranked against the following number of funds in the Lipper Global Income Funds Category for the period ended 2/28/14. For the 1-year period, 9 out of 207 funds; for the since inception period, 2 out of 196 funds; for the 3-year period, not yet rated. For the 5-year period, not yet rated. For the 10-year period, not yet rated. Past performance is no guarantee of future results. Rankings are calculated based upon the total returns of multiple share classes within their respective Lipper category. Different share classes may have different rankings.
3 For Select shares as of 03/31/14; 30-Day SEC Yield 4.07%, 30-Day SEC Yield (Unsubsidized) 3.50%, Dividend Yield 2.80%
Depending on a fund's share class, there are different purchase minimums required to establish an account and to add to an account. The purchase minimum for Select Class shares is $1,000,000. The fund prospectus states the applicable purchase minimums for each of the fund's other share classes.
Annual operating expenses for Select shares as of 3/31/14
|Expense cap expiration date:||12/31/2014|
|Total annual operating expenses:||1.81%|
|Fee waivers and/or expense reimbursements:||1.15%|
Net Expenses, Fee waivers and/or expense reimbursements
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.
RISKS ASSOCIATED WITH INVESTING IN THE FUND:
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.
©2014 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.