Changes to the underlying funds of various JPMorgan Mirror Funds
04 Apr 2023
- J32 JPMorgan Pacific Securities (the “Affected Mirror Fund 1”)
- J34 JPMorgan Asia Growth (the “Affected Mirror Fund 2”)
- R08 JPMorgan ASEAN (the “Affected Mirror Fund 3”)
(together the “Affected Mirror Funds 1-3”)
SUMMARY OF CHANGES
Affected Mirror Funds 1-2
From the Effective Date, the investment policy of the underlying funds of the Affected Mirror Funds 1-2 will be amended such that each underlying fund’s aggregate exposure (direct and indirect) to China A-Shares and B-Shares (including eligible China A-Shares invested via the Shanghai-Hong Kong Stock Connect and/or Shenzhen-Hong Kong Stock Connect) may not exceed 20% of their total net asset value. Please refer to the following comparison of the investment policy before and from the Effective Date for details:
| Before the Effective Date | From the Effective Date |
| The underlying fund may invest up to 10% of its total net asset value in eligible China A-Shares via the Shanghai-Hong Kong Stock Connect and/or Shenzhen-Hong Kong Stock Connect. | The underlying fund’s aggregate exposure (direct and indirect) to China A-Shares and B-Shares (including eligible China A-Shares invested via the Shanghai-Hong Kong Stock Connect and/or Shenzhen-Hong Kong Stock Connect) may not exceed 20% of its total net asset value. |
For details of the risks associated with investment in China A-Shares and B-Shares, please refer to the relevant risk factors disclosed in the section “RISKS” in offering documents of the underlying fund, in particular the risk factors entitled “China market risk”, “Risk associated with foreign shareholding restrictions on China A-Shares”, “Risks associated with China Connect” and “People's Republic of China (”PRC") tax risk consideration".
Affected Mirror Funds Funds 2-3
It is currently stated in the investment policy of the underlying funds of Affected Mirror Funds 2-3 that one month’s prior notice will be given to unitholders for any change in the underlying funds’ maximum exposure to China A-Shares and/or B-Shares in the future. From the Effective Date, such statement will be removed and if there is any change in the underlying funds’ maximum exposure to China A-Shares and/or B-Shares in the future, the Manager will notify unitholders and update the offering documents of the underlying funds in accordance with the applicable regulatory requirements
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