JPMorgan Emerging Markets Fund
Launch Date 01/02/1994 Initial Charge 4.25%
Fund Size £799M Discount 4.25%
ISIN Number GB0030881550 The total cost of investment after the discount is applied* 0%
Legal Structure OEIC (OEIC) Annual Management Charge 1.50%

*In addition the fund manager will incur stamp duty, bid/offer spreads in the market and stockbroking commission, which may be in part passed onto the investor. Charges rounded up to nearest 0.01%

The fund aims to achieve long-term capital growth by investing primarily in the securities of companies quoted or trading in countries where there is an emerging market or in closed-ended vehicles, which invest primarily in such securities. The fund may also purchase fixed interest securities. This fund is suitable for investors able to tolerate a high degree of investment risk.

This fund is managed by a Austin Forey who has managed the fund since launch. All save one member of the team have been with JPM for over 10 years and the team is backed up by 39 mult-lingual country specialists.

JPM believe that Emerging Markets are fundamentally inefficient, and the management style of this fund is specifically designed for Emerging Markets. Thorough top-down, and bottom-up research is key to the approach and the individual specialists have a significant degree of autonomy in their stock selection. The manager will select stocks from those ranked by the specialists, position sizes being driven by conviction rather than market capitalisation. The fund will typically hold 50-75 stocks.
Key Sector % of fund
   PACIFIC BASIN 39.5%
   AMERICAS 24.8%
   ASIA PACIFIC 12%
   EUROPE EX UK 7.7%
   SOUTH AFRICA 7.4%
   MONEY MARKET 4.7%
   MIDDLE EAST/ AFRICA 2.8%
   INTERNATIONAL 1.1%

The current asset allocation is shown above and the relative performance of the fund is given in the table below. Please bear in mind that past performance is not a guide to the future, the value of the investments and any income can go down as well as up and you may not get back the amount you invested.
Cumulative Performance
3 mth 6 mth 1 yr 3 yr 5 yr
Fund -5.51% 2.85% 30.43% 19.86% 111.56%
Sector -4.55% 2.66% 28.96% 12.67% 96.64%
Relative to sector -0.96% 0.19% 1.47% 7.19% 14.92%
Rank within sector 22/38 17/36 14/34 8/23 6/20

Data supplied by Financial Express as at July 2010, bid/bid, income reinvested. Our views are based upon our understanding of the current legislation. You should not act on any of the information without seeking professional advice. clarity is authorised and regulated by the Financial Services Authority. The Financial Services Authority does not regulate all types of Pensions, Mortgages or Taxation Advice.