Definitive Materials Filed by Investment Companies. (497)
March 03 2014 - 3:47PM
Edgar (US Regulatory)
J.P. MORGAN INCOME FUNDS
JPMorgan Inflation Managed Bond Fund
(All Share Classes)
(a series of JPMorgan Trust I)
Supplement dated March 3, 2014
to the Prospectuses dated July 1, 2013, as supplemented
Effective immediately, the
portfolio manager information for the JPMorgan Inflation Managed Bond Fund (the Fund) in the section titled Management in the Funds Risk/Return Summary of the Funds Prospectuses is hereby deleted in
its entirety and replaced with the following:
MANAGEMENT
J.P. Morgan Investment Management Inc.
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Portfolio
Manager
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Managed the
Fund Since
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Primary Title with
Investment Adviser
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Scott E. Grimshaw
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2010
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Executive Director
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Deepa Majmudar
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2010
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Managing Director
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Steven Lear
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2013
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Managing Director
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In addition, the paragraphs entitled
Inflation Managed Bond Fund
in the section titled The
Funds Management and Administration The Portfolio Managers is hereby deleted in its entirety and replaced by the following:
Inflation Managed Bond Fund
The lead portfolio managers who are primarily responsible for the day-to-day management of the Fund are listed below. The portfolio
management team consists of Scott E. Grimshaw, Executive Director and CFA charterholder, Deepa Majmudar, Managing Director, and Steven S. Lear, Managing Director and CFA charterholder. Mr. Grimshaw is responsible for the day-to-day management
of the Funds portfolio of securities whereas Ms. Majmudar is responsible for implementing the inflation-managed strategy of the Fund through the use of the CPI-U swaps. Mr. Grimshaw is part of the Taxable Bond Team. He is also
responsible for the government sector and has been part of the team responsible for management of the Fund since its inception. Ms. Majmudar is a portfolio manager in the Diversified Strategies Group. An employee since 2003, Ms. Majmudar
is responsible for developing quantitative and risk management strategies and portfolio management. Ms. Majmudar has been part of the team responsible for management of the Fund since its inception. Mr. Lear leads the U.S. Macro team. In
this role, he is responsible for overseeing the U.S. Broad market strategies, including core, core plus, long duration and stable value. Prior to joining JPMIM in 2008, Mr. Lear was at Schroder Investment Management for ten years, serving as
the head of the U.S. fixed income securities for seven years. The portfolio managers are assisted by multiple sector and research teams who help formulate duration and allocation recommendations and support the strategies of the Fund within the
parameters established by the portfolio managers.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT
WITH THE PROSPECTUS FOR FUTURE REFERENCE
SUP-IMB-PM-314
J.P. MORGAN INCOME FUNDS
JPMorgan Inflation Managed Bond Fund
(All Share Classes)
(as series of JPMorgan Trust I)
Supplement dated March 3, 2014
to the Statement of Additional Information
dated July 1, 2013, as
supplemented
Effective immediately, the portfolio managers information for the JPMorgan Inflation Managed Bond Fund in the section
entitled Portfolio Managers of the Statement of Additional Information is hereby replaced with the following:
PORTFOLIO MANAGERS
Portfolio Managers Other Accounts Managed
The following table shows information regarding all of the other accounts for which advisory fees are not based on the performance of the accounts that are
managed by the portfolio managers as of February 28, 2013:
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Non-Performance Based Fee Advisory Accounts
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Registered Investment
Companies
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Other Pooled Investment
Vehicles
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Other Accounts
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Inflation Managed
Bond Fund
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Number
of
Accounts
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Total Assets
($thousands)
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Number
of
Accounts
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Total Assets
($thousands)
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Number
of
Accounts
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Total Assets
($thousands)
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Scott Grimshaw
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3
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$
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2,382,727
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2
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$
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338,893
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33
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$
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5,081,373
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Deepa Majmudar
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3
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3,431,259
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1
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123,175
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0
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0
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Steven Lear*
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3
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2,528,574
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1
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44,076
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20
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3,765,501
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*As of December 31, 2013.
The following table shows information on the other accounts managed by the portfolio managers that have advisory fees wholly or partly based on performance as of February 28, 2013:
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Performance Based Fee Advisory Accounts
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Registered Investment
Companies
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Other Pooled Investment
Vehicles
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Other Accounts
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Inflation Managed
Bond Fund
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Number
of
Accounts
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Total Assets
($thousands)
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Number
of
Accounts
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Total Assets
($thousands)
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Number
of
Accounts
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Total Assets
($thousands)
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Scott Grimshaw
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0
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$
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0
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0
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$
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0
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0
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$
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0
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Deepa Majmudar
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0
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0
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0
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0
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0
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0
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Steven Lear*
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0
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0
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0
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0
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0
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0
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*As of December 31, 2013.
SUP-SAI-IMB-PM-314
Portfolio Managers Ownership of Securities
The following table indicates for
each Fund the dollar range of securities beneficially owned by each portfolio manager, as of February 28, 2013.
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Aggregate Dollar Range of Securities in the Fund
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Inflation Managed
Bond Fund
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None
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$1-$10,000
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$10,001-
$50,000
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$50,001-
$100,000
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$100,001-
$500,000
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$500,001-
$1,000,000
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Over
$1,000,000
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Scott Grimshaw
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X
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Deepa Majmudar
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X
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Steven Lear
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X
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For a more complete discussion, see the Portfolio Manager Compensation section in Part II of this SAI.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT
WITH THE STATEMENT OF ADDITIONAL INFORMATION
FOR FUTURE REFERENCE
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