NEW JPMorgan Future Transition Multi-Asset Fund
NEWAVAILABLE FOR PUBLIC CIRCULATIONJPMorgan Future Transition Multi-Asset FundImportant Information1. The Fund invests primarily (i.e. at least 70% of its total net asset value) in debt and equity securities (directly or indirectly through collective investment schemes)whose issuers may benefit from, or contribute to, the transition towards the future world. The Fund will have limited Renminbi (RMB) denominated underlyinginvestments.2. The Fund is therefore exposed to a range of investment related risks which includes risks associated with the Fund’s investment strategy (including risks associatedwith future transition concept, its sub-themes and changing market trends, risks associated with concentration in a single theme and/or sub-theme and risksassociated with the use of big data and artificial intelligence technique), dynamic asset allocation strategy, debt securities (including downgrading risk, belowinvestment grade/ unrated investment risk, credit risk, interest rate risk, valuation risk, volatility and liquidity risk), equity, emerging markets, investing in othercollective investment schemes, concentration, currency, derivatives, liquidity, hedging, class currency and currency hedged classes. In addition, RMB hedged classesexpose to risks associated with the RMB currency and currency hedged classes risks. RMB is currently not freely convertible and RMB convertibility from offshoreRMB (CNH) to onshore RMB (CNY) is a managed currency process subject to foreign exchange control policies of and restrictions imposed by the Chinesegovernment. There can be no assurance that RMB will not be subject to devaluation at some point. The Manager may, under extreme market conditions when thereis not sufficient RMB for currency conversion and with the approval of the Trustee, pay redemption monies and/or distributions in USD.3. Where the income generated by the Fund is insufficient to pay a distribution as the Fund declares, the Manager may at its discretion determine such distributionsmay be paid from capital including realised and unrealised capital gains. Investors should note that the payment of distributions out of capital represents a returnor withdrawal of part of the amount they originally invested or from any capital gains attributable to that original investment. Any payments of distributions by theFund may result in an immediate decrease in the net asset value per unit. Also, a positive distribution yield does not imply a positive return on the total investment.The distribution amount and net asset value per unit of a currency hedged class may be adversely affected by differences in the interest rates of the referencecurrency of the relevant currency hedged class and the Fund’s base currency, resulting in an increase in the amount of distribution that is paid out of capital andhence a greater erosion of capital than other classes of units.4. Investors may be subject to substantial losses.5. Investors should not solely rely on this document to make any investment decision.Eyes on the Futurewith an InnovativeAsset Allocation StrategyDynamic asset allocation: Invests flexiblyacross asset classes and regions, capturinggrowth potential while managing risksInnovative approach: Leveragesproprietary technology that combinesbig data research and artificial intelligenceto identify investment ideasHelping shape a better future: Strives todrive and help societies transition to amore efficient, sustainable andinclusive worldwww.jpmorgan.com/hk/am/ftma
Five key themes shaping our future The future transitionHave you ever wondered that the future can be faster than you think? Advances in technologies, such asartificial intelligence (AI), robotics and the Internet of Things (IoT), are paving the way for transformativechanges to every aspect of our lives. Everything around us will become more intelligent, communicativeand connected.At J.P. Morgan Asset Management, the “future transition” concept aims to drive and help the societiestransition to a better future, making our world more efficient, sustainable and inclusive.Our investment team determines the key themes based on long-term market trends, andadjusts in response to the ongoing development of the future world.Smart city: improving urban lifeOver the next three decades, the global urban population is expected to see an increase of 2.5 billion people, creating astrain on resources. A potential solution to support the growing number of megacities, “smart city” refers to initiativesthat use digital and communication technology-based innovation to (i) improve operational efficiency; (ii) enhance thequality of government services and citizen welfare; and (iii) promote overall economic growth.2.5 billion peopleExpected increase inglobal urban population by 2050Source: United Nations, Department of Economic and SocialAffairs “68% of the world population projected to live in urbanareas by 2050, says UN” (16.05.2018).USD 244.5 billion2021’s expected investments insmart city technology inNorth America, increased fromUSD 118.5 billion in 2016Source: BCC Research LLC “Global Smart Cities Market forIT Will Reach 774.8 Billion in 2021” (13.07.2017).JPMorgan Future Transition Multi-Asset Fund2
Autonomous vehicles: enhancing efficiency and safetyDriverless cars are looking more likely to become a reality. With the rise of autonomous vehicles, it is anticipated thatroads will be safer and less congested – thanks to the smart technologies that allow for (i) detection of hazards andtherefore reduction in collisions caused by human error; and (ii) communication with each other and localinfrastructure to operate more seamlessly. 60% of respondents12 millionin each region would switchautomotive brands to get a vehicle withbetter autonomous driving featuresfully autonomous vehiclesexpected to be sold per yearglobally by 2035Source: Society of Automotive Engineers, McKinsey “Privateautonomous vehicles: The other side of the robo-taxi story”(01.12.2020).Source: Boston Consulting Group website “AutonomousVehicle Adoption Study” as of 21.07.2021.Digital education: personalised and adaptive learningDigital education is increasingly becoming intertwined with everyday life, especially when the pandemic has promptedthe world to rapidly transition to technology-based learning methods. By providing a truly personalised learningexperience tailored to an individual’s educational needs, approach and pace, digital education supports not only theyoung but all learners, allowing organisations to upskill and reskill employees as businesses evolve.USD 1.6 billionUSD 250 billion2020’s e-learning market size;anticipated to grow at an exponentialCAGR of over 21% between 2021 and 2027of investments in the US educationtechnology sector in 2019Source: IBL News “U.S. Education Technology CompaniesRaised 1.6 Billion in VC Funding in 2019” (17.01.2019).CAGR compound annual growth rate. Source: Global MarketInsights “E-Learning Market Trends 2021, Global ForecastReport 2027” (May 2021).Medical technology: improving patient careIn the face of aging population, exponential increase in expenditure and the need for greater efficiency, the demand formore innovative and cost-effective solutions cannot be clearer. The medical technology (MedTech) market providesadvanced solutions to enhance the quality of care for patients, as well as the efficiency and sustainability ofhealthcare systems, offering early-stage investment opportunities.38%Average consultation costs in the USIn-personTelehealthUSD 125USD 40Source: Citi data, UBS “HealthTech offers longer terminvestment opportunities” (March 2019).Expected growth over five yearsfor the US MedTech profit poolSource: Bain & Company analysis, EvaluateMedTech, HealthResearch International, Decision Resources Group, S&P Capital IQ,Instrument Business Outlook, Duff & Phelps, company reports; “USMedtech Profit Pool to Reach 72 Billion by 2024” (11.03.2020).Social and environmental development: building a sustainable futureSocial and environmental factors are expected to increasingly affect the ability of companies to operate and generatereturns today and over the long term. Consequently, our investments also demand a forward-looking approach tocapture opportunities arising from the prospect of long-term sustainable financial returns.J.P. Morgan Asset Management: ESG integration450 integrated strategiesUSD 2.3 trillionacross equities, fixed income,alternatives and liquidityin ESG integrated assetsunder managementESG environmental, social and governance.3JPMorgan Future Transition Multi-Asset Fund
Policy support from governmentsThe transition towards a better future is a collaborative, multi-stakeholder process across governments, businessesand individuals.Examples are:Smart city Smart City Blueprint for Hong Kong set out six smart areas in 2017.Hong Kong Smart City Blueprint 2.0 was released in December 2020 with more than 130 smartcity initiatives.Source: Innovation and Technology Bureau “Hong Kong Smart City Blueprint” (December2017) and “Hong Kong Smart City Blueprint 2.0” (December 2020).Autonomous vehicles Rules for prospective trials and use of autonomous vehicles were introduced in 2017.Singapore Land Transport Master Plan 2040 emphasises public transport as well as shuttlesand dynamic routes, including robo-taxis.Source: World Economic Forum “Autonomous Vehicle Policy Framework: Selected Nationaland Jurisdictional Policy Efforts to Guide Safe AV Development” (November 2020).Digital education SWAYAM PRABHA: providing 32 high quality educational channels through DTH(Direct to Home) on 24x7 basisIndia The National Digital Library of India projectSource: Ministry of Human Resource Development “Digital Initiatives in Higher Education”(2019).Medical technologyAustraliaMedical Research Future Fund: a USD 20 billion long-term investment, aiming totransform health and medical research and innovation to improve lives, and contributeto health system sustainability.Source: Business.gov.au website “Get investment to develop and commercialise yourbiomedical discoveries” (17.06.2021); Department of Health website “Medical ResearchFuture Fund”, as of 21.07.2021.Social and environmental developmentEuropeanUnionThe European Central Bank decided on a comprehensive action plan in July 2021,looking to further incorporate climate change considerations into its policyframework.Source: European Central Bank “ECB presents action plan to include climate changeconsiderations in its monetary policy strategy” (08.07.2021).JPMorgan Future Transition Multi-Asset Fund4
Why invest in the JPMorgan Future Transition Multi-Asset Fund?J.P. Morgan Asset Management’s Multi-Asset Solutions TeamMULTI-ASSETINVESTMENTPROFESSIONALS10112 AVERAGE YEARSOF EXPERIENCEWITH ACCESS TOINVESTMENTPROFESSIONALSWORLDWIDE1,000 22LOCATIONS IN11 MARKETSSource: J.P. Morgan Asset Management, as of end-June 2021. Includes portfolio managers, research analysts, traders and investmentspecialists with VP title and above.Globally diversified to capture growth potential while managing risksCapitalising on the future transition trends, the Fund seeks to provide medium- to long-term capital growth byprimarily investing in both debt and equity securities whose issuers may benefit from, or contribute to, the transitiontowards the future world.As uncertainties persist, it also remains important to maintain resiliency in a portfolio. The Fund is designed to takea flexible approach in asset allocation – taking advantage of growth potential from equities, while diversifying withfixed income to manage risks.INITIAL PORTFOLIO TARGET ALLOCATIONASSET CLASS BREAKDOWNGEOGRAPHICAL BREAKDOWN (EQUITIES)35%Fixed Income35%30%25%20%15%10%5%0%Equities65%The percentage above refers to percentage of the non-cash asset of the Fund. The above allocation is the Investment Manager’s targetsonly and is subject to change depending on market conditions. There is no guarantee that these will be achieved.Innovative approach using proprietary AI technologyTo convert the future transition trends into opportunities, the Fund’s equity selection leverages ThemeBot, ourproprietary technology that combines big data research and artificial intelligence, to identify securities with the mostrelevant exposure to the themes.EXAMPLE THEMETextual RelevanceRevenue AttributionFundamentalsImages are for illustrativepurposes only. Our investment team establishes the starting universe and themes ThemeBot identifies opportunities relevant to the theme with natural languageprocessing, and ranks companies according to textual relevance and revenueattribution Our fundamental active research analysts regularly validate and refine ThemeBot’soutputThe ability of ThemeBot to analyse hundreds of millions of data sources in a short periodof time allows our portfolio managers to make informed decisions more efficiently.Multiple currency choicesTo help meet investors’ need for different currencies, the Fund offers USD, HKD and RMB Hedged classes, with adiscretionary monthly distribution* feature available.* Aim at monthly distribution. Dividend rate is not guaranteed. Distributions may be paid from capital. Refer to important information 35JPMorgan Future Transition Multi-Asset Fund
AVAILABLE FOR PUBLIC CIRCULATIONLET’S SOLVE IT.NEXT STEPSFor further information on theJPMorgan Future Transition Multi-Asset Fund,please contact your bank or financial adviser.www.jpmorgan.com/hk/am/ftmaForecasts, projections and other forward looking statements are based upon current beliefs and expectations. They are for illustrative purposes only and serve as an indicationof what may occur. Given the inherent uncertainties and risks associated with forecast, projections or other forward statements, actual events, results or performance may differmaterially from those reflected or contemplated. For illustrative purposes only based on current market conditions, subject to change from time to time. Not all investments aresuitable for all investors. Exact allocation of portfolio depends on each individual's circumstances and market conditions. Diversification does not guarantee investment returnsand does not eliminate the risk of loss.The manager seeks to integrate environmental, social and governance (“ESG”) factors in the investment process. ESG integration is the systematic integration of material ESGfactors in company/issuer selection through research and risk management. It involves proprietary research on financial materiality of the ESG factors in relation to the relevantcompany/issuer and discretion to invest regardless of whether the company/issuer may be positively or negatively impacted by the ESG factors. Integration of ESG factors inthe Fund’s investment process does not imply the Fund incorporates ESG factors as its key investment focus. The Fund is not authorized as an ESG fund by the Securities andFutures Commission, nor is it being marketed as an ESG fund.Unless stated otherwise, all information is sourced from J.P. Morgan Asset Management, as of end-July 2021.The information contained in this document does not constitute investment advice, or an offer to sell, or a solicitation of an offer to buy any security, investment product orservice. Informational sources are considered reliable but you should conduct your own verification of information contained herein. The RMB Hedged Class is not recommendedfor investors whose base currency of investment is not in RMB.The “(cgdiv)” classes aim at monthly distribution. Dividend rate is not guaranteed. Distributions may be paid from capital.Refer to important information 3Investment involves risk. Past performance is not indicative of future performance. Please refer to the offering document(s) for details, including the risk factors. Thisdocument has not been reviewed by the SFC. Issued by JPMorgan Funds (Asia) Limited.
JPMorgan Future Transition Multi-Asset Fund 2 Source: United Nations, Department of Economic and Social A airs "68% of the world population projected to live in urban areas by 2050, says UN" (16.05.2018). Five key themes shaping our future The future transition Have you ever wondered that the future can be faster than you think?
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