12018 Long-Term Cap­i­tal Mar­kets As­sump­tions Pa­per, J.P. Mor­gan As­set Man­age­ment

Shares - - MONEY MATTERS -

2The com­pa­nies above are shown for il­lus­tra­tive pur­poses only. Their in­clu­sion should not be in­ter­preted as a rec­om­men­da­tion to buy or sell


In­vest­ment Ob­jec­tive: The JPMor­gan Emerg­ing Mar­kets In­vest­ment Trust plc aims to max­imise to­tal re­turns from Emerg­ing Mar­kets world­wide and pro­vides in­vestors with a di­ver­si­fied port­fo­lio of shares in coun­tries and sec­tors we be­lieve of­fer the most at­trac­tive op­por­tu­ni­ties for growth. The Com­pany can hold up to 10% cash or utilise gear­ing of up to 20% of net as­sets where ap­pro­pri­ate.

Risk in­for­ma­tion:

Ex­change rate changes may cause the value of un­der­ly­ing over­seas in­vest­ments to go down as well as up. In­vest­ments in emerg­ing mar­kets may in­volve a higher el­e­ment of risk due to po­lit­i­cal and eco­nomic in­sta­bil­ity and un­der­de­vel­oped mar­kets and sys­tems. Shares may also be traded less fre­quently than those on es­tab­lished mar­kets. This means that there may be dif­fi­culty in both buy­ing and sell­ing shares and in­di­vid­ual share prices may be sub­ject to short term price fluc­tu­a­tions. Where per­mit­ted, a trust may in­vest in other in­vest­ment trusts that utilise gear­ing (bor­row­ing) which will ex­ag­ger­ate mar­ket move­ments both up and down. l Ex­ter­nal fac­tors may cause an en­tire as­set class to de­cline in value. Prices and val­ues of all shares or all bonds could de­cline at the same time, or fluc­tu­ate in re­sponse to the per­for­mance of in­di­vid­ual com­pa­nies and gen­eral mar­ket con­di­tions. This trust may utilise gear­ing (bor­row­ing) which will ex­ag­ger­ate mar­ket move­ments both up and down. This trust may also in­vest in smaller com­pa­nies which may in­crease its risk pro­file. The share price may trade at a dis­count to the Net As­set Value of the com­pany. The Trust may in­vest in China A Shares through the Shang­hai HongKong Stock Con­nect pro­gram which is sub­ject to reg­u­la­tory change, quota lim­i­ta­tions and also op­er­a­tional con­straints which may re­sult in in­creased coun­ter­party risk. This is a mar­ket­ing com­mu­ni­ca­tion and as such the views con­tained herein are not to be taken as an ad­vice or rec­om­men­da­tion to buy or sell any in­vest­ment or in­ter­est thereto. Reliance upon in­for­ma­tion in this ma­te­rial is at the sole dis­cre­tion of the reader. Any re­search in this doc­u­ment has been ob­tained and may have been acted upon by J.P. Mor­gan As­set Man­age­ment for its own pur­pose. The re­sults of such re­search are be­ing made avail­able as ad­di­tional in­for­ma­tion and do not nec­es­sar­ily re­flect the views of J.P. Mor­gan As­set Man­age­ment. Any fore­casts, fig­ures, opin­ions, state­ments of fi­nan­cial mar­ket trends or in­vest­ment tech­niques and strate­gies ex­pressed are un­less oth­er­wise stated, J.P. Mor­gan As­set Man­age­ment’s own at the date of this doc­u­ment. They are con­sid­ered to be re­li­able at the time of writ­ing, may not nec­es­sar­ily be all in­clu­sive and are not guar­an­teed as to ac­cu­racy. They may be sub­ject to change with­out ref­er­ence or no­ti­fi­ca­tion to you. It should be noted that the value of in­vest­ments and the in­come from them may fluc­tu­ate in ac­cor­dance with mar­ket con­di­tions and tax­a­tion agree­ments and in­vestors may not get back the full amount in­vested. Changes in ex­change rates may have an ad­verse ef­fect on the value, price or in­come of the prod­ucts or un­der­ly­ing over­seas in­vest­ments. Past per­for­mance and yield are not re­li­able in­di­ca­tors of cur­rent and fu­ture re­sults. There is no guar­an­tee that any fore­cast made will come to pass. Fur­ther­more, whilst it is the in­ten­tion to achieve the in­vest­ment ob­jec­tive of the in­vest­ment prod­ucts, there can be no as­sur­ance that those ob­jec­tives will be met. J.P. Mor­gan As­set Man­age­ment is the brand name for the as­set man­age­ment busi­ness of JPMor­gan Chase & Co. and its af­fil­i­ates world­wide. To the ex­tent per­mit­ted by ap­pli­ca­ble law, we may record tele­phone calls and mon­i­tor elec­tronic com­mu­ni­ca­tions to com­ply with our le­gal and reg­u­la­tory obli­ga­tions and in­ter­nal poli­cies. Per­sonal data will be col­lected, stored and pro­cessed by J.P. Mor­gan As­set Man­age­ment in ac­cor­dance with our EMEA Pri­vacy Pol­icy www.jpmor­gan.com/emea-pri­vacy-pol­icy. In­vest­ment is sub­ject to doc­u­men­ta­tion (In­vest­ment Dis­clo­sure Doc­u­ment, Key Fea­tures and Terms and Con­di­tions), copies of which can be ob­tained free of charge from JPMor­gan As­set Man­age­ment (UK) Limited. This com­mu­ni­ca­tion is is­sued by JPMor­gan As­set Man­age­ment (UK) Limited, which is au­tho­rised and reg­u­lated in the UK by the Fi­nan­cial Con­duct Author­ity. Reg­is­tered in Eng­land No: 01161446. Reg­is­tered ad­dress: 25 Bank Street, Ca­nary Wharf, Lon­don E14 5JP. 0903c02a82386a04

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