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JPMorgan 529 Moderate Age-Based Portfolio - A (No Ticker)


  • The Portfolio invests in a combination of equity and fixed income Underlying Funds in order to seek capital appreciation and income.
  • Although the Portfolio is expected to be subject to less market risk and volatility than those Age-Based and Asset Allocation Portfolios that invest a higher percentage of their assets in equity securities, its potential return is also expected to be lower.
  • The Portfolio is subject to greater risks associated with investments in fixed income securities, such as interest rate risk, than Portfolios that invest less heavily in Underlying Funds that invest primarily in fixed income securities.
  • The Portfolio has a strategic allocation of approximately 45% U.S. equity securities, 23% international equity securities and 32% fixed income securities.

Performance basics

  Annualized returns (as of 9/30/2015)
  1 Year 3 Year 5 Year Incept
at NAV -1.96% 6.49% N/A 6.80%
With 5.25% max. sales charge -7.13% 4.60% N/A 5.13%
MSCI World Index (net of foreign withholding taxes) -5.09% 8.58% N/A 9.00%
Barclays U.S. Aggregate Index 2.94% 1.71% N/A 4.40%
BofA Merrill Lynch 3-Month U.S. Treasury Bill Index 0.02% 0.06% N/A 0.07%

Performance Inception Date:5/4/12

Performance data represents past performance; that past performance does not guarantee future results; that the investment return and the value of the investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original costs; and that current performance may be lower or higher than the performance data quoted.

Annual operating expenses (%)
Expense Ratio 1.06%

Minimum investments

Minimum investments Minimum subsequent investments
$1000 $25

Daily stats (as of 10/12/2015)

$12.99 -0.31%
$0.03 | 0.08%  
52 Week Highˆ $13.66
52 Week Lowˆ $12.34
Net Asset Class $344,550,962.21
Net Asset Portfolio $480,373,617.92


CUSIP 64981A759
Class Inception Date 05/04/2012
Portfolio Number 5741
Asset Class Asset Allocation
Cut-off time1 4:00 P.M.

The Underlying Fund is subject to management risk and may not achieve its objective if the adviser's expectations regarding particular securities or markets are not met.

Certain Underlying Funds invest in equity securities (such as stocks) that are more volatile and carry more risks than some other forms of investment. The price of equity securities may rise or fall because of economic or political changes or changes in a company's financial condition, sometimes rapidly or unpredictably. These price movements may result from factors affecting individual companies, sectors or industries selected for the Underlying Fund's portfolio or the securities market as a whole, such as changes in economic or political conditions. When the value of the Underlying Fund's securities goes down, the Portfolio's investment in the Underlying Fund decreases in value.

Some of the Underlying Funds invest more or less of their assets in securities of smaller cap companies (small and mid cap companies) which may be riskier, more volatile and vulnerable to economic, market and industry changes than securities of larger, more established companies. As a result, share price changes of the Underlying Funds may be more sudden or erratic than the prices of other equity securities, especially over the short term.

Underlying Funds that invest in foreign currencies and foreign issuers are subject to additional risks, including political and economic risks, greater volatility, civil conflicts and war, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, expropriation and nationalization risks, and less stringent investor protection and disclosure standards of foreign markets. These risks are magnified in countries in "emerging markets."

The Underlying Funds may use derivatives. Derivatives may be riskier than other investments because they may be more sensitive to changes in economic and market conditions and could result in losses that significantly exceed the original investment. Many derivatives create leverage thereby causing the Portfolio or Underlying Fund to be more volatile than it would be if it had not used derivatives. Derivatives also expose the Portfolio and Underlying Funds to counterparty risk (the risk that the derivative counterparty will not fulfill its contractual obligation), including credit risk of the derivative counterparty.

An Underlying Fund's investments in bonds and other debt securities will change in value based on changes in interest rates. If rates rise, the value of these investments generally drops.

Certain Underlying Funds' investments are subject to the risk that a counterparty will fail to make payments when due or default completely. If an issuer's financial condition worsens, the credit quality of the issuer may deteriorate making it difficult for the Underlying Fund to sell such investments.

Certain Underlying Funds invest in securities issued or guaranteed by the U.S. government or its agencies and instrumentalities (such as the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae), or the Federal Home Loan Mortgage Corporation (Freddie Mac) securities). Unlike Ginnie Mae securities, securities issued or guaranteed by U.S. government-related organizations such as Fannie Mae and Freddie Mac are not backed by the full faith and credit of the U.S. government and no assurance can be given that the U.S. government would provide financial support. Therefore, U.S. government-related organizations such as Fannie Mae or Freddie Mac may not have the funds to meet their payment obligations in the future.

Some of the Underlying Funds invest in securities and instruments that are issued by companies that are highly leveraged, less creditworthy or financially distressed. These investments (known as junk bonds) are considered to be speculative and are subject to greater risk of loss, greater sensitivity to interest rate and economic changes, valuation difficulties, and potential illiquidity.

Certain Underlying Funds may invest in asset-backed, mortgage-related and mortgage-backed securities including so-called "sub-prime" mortgages that are subject to certain other risks including prepayment and call risks. When mortgages and other obligations are prepaid and when securities are called, the Underlying Fund may have to reinvest in securities with a lower yield or fail to recover additional amounts (i.e., premiums) paid for securities with higher interest rates, resulting in an unexpected capital loss and/or a decrease in the amount of dividends and yield. In periods of rising interest rates, the Underlying Fund may be subject to extension risk, and may receive principal later than expected. As a result, in periods of rising interest rates, the Underlying Fund may exhibit additional volatility. During periods of difficult or frozen credit markets, significant changes in interest rates, or deteriorating economic conditions, such securities may decline in value, face valuation difficulties, become more volatile and/or become illiquid. Collateralized mortgage obligations (CMOs) and stripped mortgage-backed securities, including those structured as IOs and POs, are more volatile and may be more sensitive to the rate of prepayments than other mortgage-related securities. An Underlying Fund will be exposed to additional risk to the extent that it uses inverse floaters and inverse IOs, which are debt securities with interest rates that reset in the opposite direction from the market rate to which the security is indexed. These securities are more volatile and more sensitive to interest rate changes than other types of debt securities. If interest rates move in a manner not anticipated by the adviser, the Underlying Fund could lose all or substantially all of its investment in inverse IOs.

Certain Underlying Funds are highly concentrated in real estate securities including REITs. These securities are subject to the same risks as direct investments in real estate and mortgages, and their value will depend on the value of the underlying real estate interests. These risks include default, prepayments, changes in value resulting from changes in interest rates and demand for real and rental property, and the management skill and creditworthiness of REIT issuers. The Underlying Funds will indirectly bear their proportionate share of expenses, including management fees, paid by each REIT in which they invest in addition to the expenses of the Underlying Funds.

The Underlying Fund or a Portfolio could experience a loss when selling securities to meet redemption requests by shareholders if the redemption requests are unusually large or frequent or occur in times of overall market turmoil or declining prices.

The Underlying Funds are managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, such Underlying Funds may hold constituent securities of their index regardless of the current or projected performance of a specific security or a particular industry or market sector. Maintaining investments in securities regardless of market conditions or the performance of individual securities could cause the Underlying Fund's return to be lower than if the Underlying Fund employed an active strategy.

1Please refer to the Disclosure Booklet for additional information about cut-off times.

The expense ratio is an estimate of the asset-based expenses for the Portfolio and includes estimated underlying fund expenses, the program management fee and any applicable distribution and service fee. Please see the expense tables in the Disclosure Booklet for more information.

Total return assumes reinvestment of income.

The MSCI World Index (net of foreign withholding taxes) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets. 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. Total return figures assume the reinvestment of dividends. The dividend is reinvested after deduction of withholding tax, applying the maximum rate to nonresident individual investors who do not benefit from double taxation treaties. 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 Moderate Portfolio Broad Benchmark is a composite benchmark of unmanaged indexes that corresponds to the Portfolio's model allocation and consists of the MSCI World Index (net of foreign withholding taxes) (68%) and Barclays U.S. Aggregate Index (32%).

The BofA Merrill Lynch 3-Month U.S. Treasury Bill Index is comprised of a single issue purchased at the beginning of the month and held for a full month. Each month the index is rebalanced and the issue selected is the outstanding Treasury Bill that matures closest to, but not beyond 3 months from the rebalancing date. 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.

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

©2015, American Bankers Association, CUSIP Database provided by the Standard & Poor's CUSIP Service Bureau, a division of The McGraw-Hill Companies, Inc. All rights reserved.