FUND FACTS - edelweissmf.com - April 2015.pdf · judice nature of the case and the fact that tax treaties will prevail and there will ... Voltas Ltd. 1.00 ... Portfolio analysis:

FUND FACTSApril, 2015

Equity and Debt review

Equity reviewMarkets continued the weakness displayed last month with Nifty down 3.65%

for the month. The mid cap index despite taking a bigger beating than last

month, continued to outperform the larger companies (down 2.40%). The fall

this month was augmented by negative news around poor results, probability of

poor monsoon, lack of progress in the parliament and tax notices to FPIs under

MAT despite subsequent clarifications. The capital markets saw heightened

activity with a large US$3.2bn deal of Sun Pharma. This led to FIIs emerging net

buyers to the tune of US$1.2bn taking their YTD tally to US$7.2bn. DIIs were also

net buyers in the order of US$1.8bn which overturned their YTD deficit to net

buying of $960mn. Mutual funds (US$1.1bn) and insurance companies

(US$710mn) both contributed to this.

On the macro front, the industrial production brought some cheer, surprising on

the upside at 5.5% with a broad based pick up seen across manufacturing,

mining and electricity. March CPI came in slightly below expectations at 5.2%

following the 5.4% print the previous month. There was a deceleration in food

inflation to 6.2% vs 6.8% despite the unseasonal rains and a marginal pick-up in

fuel inflation from 4.7% to 5.1%. Core CPI inflation was unchanged at 3.9%

despite firming up of the transportation group on higher petrol prices. WPI

reading surprised positively as well, coming in at a record low of -2.3%. The

deceleration was seen in both food (6.3% vs 7.7%) and core inflation (-0.4% vs

0.1%). In line with expectations, the RBI left policy rates, including the CRR and

SLR, unchanged. It mentioned that lack of transmission of policy rates despite

weak off-take and the front loading of two rate cuts was a key disappointment

forcing some banks to announce cut in base rates. March trade deficit widened

to $11.8bn vs. $6.8bn the previous month on account of rebound in gold imports

to $5bn vs. $2bn in February and further slowdown in exports.

There was disappointment on the policy front as the budget session of the

parliament resumed after a recess in April but similar to the winter session the

government failed to make much headway. Key bills like GST and Land

Acquisition remained conspicuous by their absence amidst opposition furor

seeking relief for farmers following the unseasonal rainfall and the public

suicide by a farmer. A boiling topic of discussion this month was around the

Minimum Alternate Tax (MAT) notices being issued by the Indian tax authorities

to certain FPIs. The government however engaged in a participatory discussion

with stakeholders wherein it came out with clarifications regarding the sub-

judice nature of the case and the fact that tax treaties will prevail and there will

be more clarity introduced in the Finance Bill.

Even though India seems to be well placed with a medium to long term view

given the improving macro and structural reforms being effected, poor

earnings and lack of quick progress is likely to weigh in on the market

performance – presenting good buying opportunities.

Source: JPMorgan Research, Citigroup Research

Debt reviewMonth of April was governed by strict monitoring by RBI from the liquidity point of view. Liquidity remained tight due to lack of government spending but systemic inflows on account of coupon payments & TBill inflows provided some relief. A policy month, but not policy action. RBI left policy rates, including the CRR and SLR, unchanged. It mentioned that lack of transmission of policy rates despite weak off-take and the front loading of two rate cuts was a key disappointment. Some of the banks have since announced cuts in their base rates. 10 Year benchmark continued to show weakness and appears to be in range of 7.80 – 7.85 in absence of any triggers in market and weekly supply of government bonds continue to hit the market.

Economic releases during the month were as follows:

RBI Policy:- RBI left policy rates, including the CRR and SLR, unchanged; Repo:

7.5%; CRR: 4% and SLR: 21.5%, but continued with regulatory measures in line

with its five pillar approach. The key reasons for holding rates seem to be (1)

Lack of transmission in banks' lending rates despite earlier cuts; and (2)

Absence of incremental data post the Mar rate cut. While maintaining its

accommodative stance, the RBI said that further action would depend on (1)

Transmission to lending rates; (2) Inflation dynamics especially food inflation;

(3) On-going supply-side measures with respect to land, power and reducing

pipe-line of stalled projects; and (4) Normalization of US rates.

Inflation March 2015:

CPI for the month of March came below market expectations at 5.2% vs. 5.4%

print the previous month. Food Prices slumped to 6.2% vs 6.8% despite the

unseasonal rains and a marginal pick-up in fuel inflation from 4.7% to 5.1%.

Core CPI inflation remained at 3.9% despite hike in petrol prices. WPI Inflation

again came at a record low of -2.3% reflecting the prices at producer's level and

lower Global commodity price levels. The deceleration was seen in both food

and core inflation.

With Rural wage growth and MSP prices growing in lower single digits. Strong

disinflationary forces will continue to govern the headline CPI and trend lower.

Growth:

February IIP growth was fairly strong at 5.0% with manufacturing growth at

5.2% and mining growth at 2.5%. Cumulatively, industrial growth in Apr-Feb

FY15 stood at 2.8% vs 0% in Apr-Feb FY14, suggesting improvement in activity

but only at a gradual pace

Incrementally fundamentals are getting better with inflation trajectory

trending downward and structural improvement in twin deficits i.e. Fiscal and

Current account deficit. RBI is currently monitoring the sustainability of

downward inflation trajectory and would like to see positive real deposit rates in

the economy for investment revival.

Source: RBI, CITI, Kotak

Regular Plan~ 2.55%

Direct Plan~ 1.34%

Total expense ratio(year-to-date ratio to average AUM)

Total stocks in portfolio 45Top 15 stocks 18.2%Total portfolio 46.7%

Active positive bets

Note: Active positive bets are those where the fund has a higher weightage as compared to the benchmark index (BSE-200). Source: BSE, Bloomberg.

Quantitative indicators

Standard Deviation (%) 7.06Beta 0.89Sharpe Ratio 1.33Portfolio Turnover Ratio* 0.81(including equity, certificate of deposit, commercial paper, floating rate note, non-convertibles debentures, preference shares, futures, options and government securities)Portfolio Turnover Ratio (Equity) 0.76

@Risk free rate of return (repo) 7.50%

JPMorgan India Equity Fund

Name of the scheme

JPMorgan India Equity Fund

Allotment date

Regular Plan - 14 June 2007

Direct Plan - 1 January 2013

Scheme structure

An open-ended equity growth scheme

Investment objective

The investment objective of the Scheme is to

generate income and long-term capital growth

from a diversified portfolio of predominantly

equity and equity-related securities including

equity derivatives. However, there can be no

assurance that the investment objective of the

Scheme will be realised.

Fund managers: Equity

Harshad Patwardhan & Amit Gadgil

Total experience (years)

Harshad Patwardhan 17

Amit Gadgil 11

Experience managing the scheme

Harshad Patwardhan 7 years, 9 months

Amit Gadgil 7 years, 9 months

For all PlansMinimum investment amount

Rs.5,000 per application plus in multiples of Re.1/-

thereof

Additional investment amount


thereof

Entry load - Nil

Exit load

If redeemed within 12 months from the date of

allotment in respect of purchase made other than

through SIP - 1%;

If redeemed after 12 months from the date of


through SIP - Nil

Exit load (SIP)


allotment of Units of each installment of SIP

purchase 1%;


allotment of units of each installment of SIP

purchase - Nil

Benchmark

S&P BSE-200 Index#

NAV (as at 30 April 2015, in Rs.)

Direct Plan - Dividend Option 18.2250

Direct Plan - Growth Option 22.6080

Regular Plan - Dividend Option 17.7830

Regular Plan - Growth Option 21.9770

Past performance may or may not be sustained

in future.

Average AUM (April 2015)

Rs. 240.44 Crore

Holdings as on 30 April 2015 (in %)

Record date Rate CUM (Re/unit) dividend NAV

After payment of dividend, the NAV will fall to the extent of dividend payout and statutory levy (if applicable). Past performance may or may not be sustained in future. Face value of the Unit is Rs. 10/-.

Dividend history

Liquidity measures

100%

90%

80%

70%

60%

50%

40%

30%

20%

10%

0%<1 1-2 2-3

Note: Calculated on the basis of the number of days it would take to exit from stocks in the JPMIEF portfolio, assuming 30% of the average daily traded volume for each stock on the NSE/BSE can be transacted. Source: BSE/NSE, Bloomberg.

No. of days

% o

f to

tal p

ort

foli

o 88.2%

1.9%

Portfolio analysis: Market cap-wise

>`90k Crs55%

`18k Crs - `90k Crs27%

`6k Crs - `18k Crs10% <`6k Crs

8%

Equity Holdings HDFC Bank Ltd. 7.58ICICI Bank Ltd. 5.92 Larsen & Toubro Ltd. 5.13 Infosys Ltd. 5.10 Maruti Suzuki India Ltd. 4.20 Sun Pharmaceuticals Industries Ltd. 3.26 Kotak Mahindra Bank Ltd. 3.16 Tata Motors Ltd. 3.15 State Bank of India 3.11 Axis Bank Ltd. 2.92 HDFC Ltd. 2.88IndusInd Bank Ltd. 2.62 Britannia Industries Ltd. 2.62 Tata Consultancy Services Ltd. 2.62 Lupin Ltd. 2.40 Eicher Motors Ltd. 2.16 Kansai Nerolac Paints Ltd. 2.16 Bharat Forge Ltd. 2.09 Ultratech Cement Ltd. 1.98 GlaxoSmithKline Consumer Healthcare Ltd. 1.75 Blue Dart Express Ltd. 1.64 Oil & Natural Gas Corp Ltd. 1.63 Ashok Leyland Ltd. 1.62 Havells India Ltd. 1.59 Fag Bearings India Ltd. 1.58 Divi's Laboratories Ltd. 1.53 Sadbhav Engineering Ltd. 1.39 Dalmia Bharat Ltd. 1.29 Shriram Transport Finance Company Ltd. 1.29 Solar Industries India Ltd. 1.28 Motherson Sumi Systems Ltd. 1.22 IDFC Ltd. 1.06 HCL Technologies Ltd. 1.05 Alstom T&D India Ltd. 1.02 Cummins India Ltd. 1.02 JK Cement Ltd. 1.00 Voltas Ltd. 1.00 Tech Mahindra Ltd. 0.93 VA Tech Wabag Ltd. 0.91 Info Edge (India) Ltd. 0.77 Asian Paints Ltd. 0.74 Astra Microwave Products Ltd. 0.73 Gayatri Projects Ltd. 0.46 Bank of Baroda 0.38 NCC Ltd. 0.25 Equity Holdings Total 94.19 Debt HoldingsNon-convertible Debentures Blue Dart Express Ltd. ICRA AA 0.04 Non-convertible Debentures Total 0.04 Debt Holdings Total 0.04 Cash & Other ReceivablesCBLO / Repo 5.02Net Receivables/(Payables) 0.75 Cash & Other Receivables Total 5.77 Grand Total 100.00

*Last 12 months@As on April 30, 2015

>3

*Includes industrial capital goods / diversified / construction / industrial products.Încludes chemicals, fertilisers and transportation.

Oil & Gas

Ôthers

Cement

Pharma

Consumer

Technology

Auto

*Industrials/Infra

Financials

Sec

tor

% of portfolio

Portfolio analysis: Sector-wise

0% 10% 20%

~Does not include Service Tax on Investment Management fees.

5% 15%

4.9%5.1%

This product is suitable for investors who are seeking*• Long Term Capital Growth• Investments predominantly in equity and equity related securities.• High Risk. (BROWN)

Direct Plan Dividend Option22-Aug-14 0.90 18.462013-Feb-15 1.70 21.0030Regular Plan Dividend Option20-Dec-07 1.00 14.060022-Aug-14 0.90 18.180013-Feb-15 1.70 20.5730

25% 30%

14.9%

10.5%

8.9%

7.2%

4.3%

3.6%

1.6%

12.4%

30.9%

35%

Name of the schemeJPMorgan India Mid and Small Cap FundAllotment dateRegular Plan - 26 December 2007Direct Plan - 1 January 2013Scheme structureAn open ended equity growth schemeInvestment objectiveThe investment objective is to seek to generate long term capital appreciation from a portfolio that is substantially constituted of equity and equity related securities focused on smaller companies. Generally, the universe will be the companies constituting the bottom fourth by way of market capitalization of stocks listed on the NSE or the BSE. The fund manager may from time to time include other equity and equity related securities outside the universe to achieve optimal portfolio construction. However, there can be no assurance that the investment objective of the scheme will be realised.Fund managers: EquityHarshad Patwardhan & Amit GadgilTotal experience (years)Harshad Patwardhan 17Amit Gadgil 11Experience managing the schemeHarshad Patwardhan 7 years, 3 monthsAmit Gadgil 7 years, 3 months

For all PlansMinimum investment amountRs 5,000 per application plus in multiples of Re. 1/- thereafterAdditional investment amountRs 1,000 per application plus in multiples of Re. 1/- thereafterEntry load - NilExit load If redeemed within 12 months from the date of allotment in respect of purchase made other than through SIP - 1%;If redeemed after 12 months from the date of allotment in respect of purchase made other than through SIP - NilExit load (SIP)If redeemed within 12 months from the date of allotment of Units of each installment of SIP purchase 1%;If redeemed after 12 months from the date of allotment of units of each installment of SIP purchase - NilBenchmark: CNX – Mid Cap Index###NAV (as at 30 April 2015, in Rs.)Direct Plan - Dividend Option 18.3220



Regular Plan - Growth Option 18.4780Past performance may or may not be sustained in future.Average AUM (April 2015)Rs. 413.08 crore


JPMorgan India Mid and Small Cap Fund


&Active positive bets

Note: Active positive bets are those where the fund has a higher weightage as compared to the benchmark index (CNX-Mid Cap). Source: BSE, Bloomberg.&Active bets are estimated.


Standard Deviation (%) 8.53Beta 0.93Sharpe Ratio 0.90Portfolio Turnover Ratio* 0.50(including equity, certificate of deposit, commercial paper, floating rate note, non-convertibles debentures, preference shares, futures, options and government securities)Portfolio Turnover Ratio (Equity)* 0.47

@Risk free rate of return (repo) 7.50%

*Includes industrial capital goods/diversified/construction / industrial products. Încludes chemicals, fertilisers and transportation.

Sec

tor

% of portfolio


0% 5% 10%

Utilities

Technology

Cement

Ôthers

Pharma

Consumer

Auto

Financials

*Industrials / Infra

19.3%

0.6%

13.1%

6.2%

2.6%


Note: Calculated on the basis of the number of days it would take to exit from stocks in the JPMISCF portfolio, assuming 30% of the average daily traded volume for each stock on the NSE/BSE can be transacted. Source: BSE/NSE, Bloomberg.

Liquidity measures

60

50

40

30

20

10

0<1 1-2 2-5 >5

No. of days

% o

f to

tal p

ort

foli

o

44.9%

15.0%18.6%

21.5%


Equity Holdings Kansai Nerolac Paints Ltd. 3.34Amara Raja Batteries Ltd. 3.09 Britannia Industries Ltd. 3.03 Ashok Leyland Ltd. 2.71 Bharat Forge Ltd. 2.66 WABCO India Ltd. 2.58 Eicher Motors Ltd. 2.55 Divi's Laboratories Ltd. 2.53 Yes Bank Ltd. 2.34 Fag Bearings India Ltd. 2.33 IndusInd Bank Ltd. 2.31 Motherson Sumi Systems Ltd. 2.30 Torrent Pharmaceuticals Ltd. 2.26 NCC Ltd. 2.17 Cadila Healthcare Ltd. 2.14 The Federal Bank Ltd. 1.99 JK Lakshmi Cement Ltd. 1.79 JK Cement Ltd. 1.71 Solar Industries India Ltd. 1.71 Havells India Ltd. 1.71 Grindwell Norton Ltd 1.67 Kajaria Ceramics Ltd. 1.61 GlaxoSmithKline Consumer Healthcare Ltd. 1.57 Jubilant Foodworks Ltd. 1.55 City Union Bank Ltd. 1.47 EIH Ltd. 1.46 CRISIL Ltd. 1.35 Voltas Ltd. 1.29 Dalmia Bharat Ltd. 1.28 Bajaj Finance Ltd. 1.25 Alstom T&D India Ltd. 1.24 Simplex Infrastructures Ltd. 1.22 Blue Dart Express Ltd. 1.21 Astra Microwave Products Ltd. 1.20 The Jammu & Kashmir Bank Ltd. 1.18 Shriram Transport Finance Company Ltd. 1.17 MindTree Ltd. 1.17 Motilal Oswal Financial Services Ltd. 1.16 Cummins India Ltd. 1.11 VA Tech Wabag Ltd. 1.10 Lakshmi Machine Works Ltd. 1.10 Ashoka Buildcon Ltd. 1.09 Max India Ltd. 1.07 Texmaco Rail & Engineering Ltd 1.05 Kaveri Seed Company Ltd. 1.02 Sadbhav Engineering Ltd. 0.98 J.Kumar Infraprojects Ltd. 0.96 MBL Infrastructures Ltd. 0.95 Mahindra & Mahindra Financial Services Ltd 0.95 Gruh Finance Ltd. 0.93 Action Construction Equipment Ltd. 0.90 Sintex Industries Ltd. 0.90 Tube Investments Of India Ltd. 0.88 Whirlpool of India Ltd. 0.88 TIL Ltd. 0.87 Union Bank of India 0.85 Allahabad Bank 0.80 Greaves Cotton Ltd. 0.79 Thermax Ltd. 0.73 Info Edge (India) Ltd. 0.72 Gayatri Projects Ltd. 0.71 Supreme Industries Ltd. 0.69 Persistent Systems Ltd. 0.68 Torrent Power Ltd. 0.63 Gujarat Pipavav Port Ltd. 0.63 Indian Bank 0.45 Equity Holdings Total 95.72 Debt Holdings Non-Convertible Debentures Blue Dart Express Ltd. ICRA AA 0.03 Non-Convertible Debentures Total 0.03 Debt Holdings Total 0.03Cash & Other ReceivablesCBLO / Repo 4.95 Net Receivables / (Payables) (0.70)Cash & Other Receivables Total 4.25 Grand Total 100.00

Regular Plan~ 2.51%

Direct Plan~ 0.34%



15% 20% 25%

This product is suitable for investors who are seeking*• Long term capital growth• Investments predominantly in equity and equity related securities focused on smaller companies

(generally, the universe will be the companies constituting the bottom fourth by way of market capitalization of stocks listed on the National Stock Exchange or Bombay Stock Exchange.)^

• High Risk. (BROWN)*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.^The Fund Manager may from time to time include other equity and equity related securities outside the universe to achieve optimal portfolio construction.

4.8%

`6k Crs - `18k Crs34.0%

`3k Crs - `6k Crs26.0%

<`3k Crs9.0%

>`18k Crs31.0%

14.1%

6.9%

28.1%

30%


Dividend history

Direct Plan Dividend Option20-Mar-15 0.50 19.6380Regular Plan Dividend Option20-Mar-15 1.50 19.3430

Name of the scheme

JPMorgan India Tax Advantage Fund

Allotment date

Regular Plan - 27 January 09


Scheme structure

An open ended equity linked savings scheme


The investment objective of the Scheme is to

generate income and long-term capi ta l

appreciation from a diversified portfolio of

predominantly equity and equity-related

Securities. However, there can be no assurance

that the investment objective of the Scheme will be

realized, as actual market movements may be at

variance with anticipated trends.

Fund managers: Equity

Harshad Patwardhan & Karan Sikka



Karan Sikka 7


Harshad Patwardhan 6 years, 2 months

Karan Sikka 3 years, 6 months


Rs 500 per application and in multiples of Rs 500

thereafter


Rs 500 per application and in multiples of Rs 500

thereafter

Entry load - Nil

Exit load - Nil

Exit load (SIP) - Nil

Benchmark

S&P BSE-200 Index#







in future.


Rs. 10.68 crore


JPMorgan India Tax Advantage Fund


Active positive bets

Note: Active positive bets are those where the fund has a higher weightage as compared to the benchmark index (BSE-200). Source: BSE, Bloomberg.

Standard deviation (%) 5.16Beta 0.71Sharpe ratio 3.63Portfolio turnover ratio* 0.74(including equity, certificate of deposit, commercial paper, floating rate note, non-convertibles debentures, preference shares, futures, options and government securities)

Portfolio turnover ratio (Equity)* 0.74@Risk free rate of return (repo) 7.50%




>`90k Crs53.0%

<`6k Crs9.0%

`6k Crs - `18k Crs11.0%

*Includes industrial capital goods / diversified / construction / industrial products.Încludes transportation.

Oil & Gas

Ôthers

Cement

Pharma

Consumer

Technology

Auto

*Industrials/Infra

Financials

Sec

tor

% of portfolio


0% 10%

1.7%

3.4%

16.2%

20%

8.9%

7.5%

13.0%

Regular Plan~ 2.70%Direct Plan~ 0.03%

Total expense ratio (year-to-date ratio to average AUM)


5% 15%

This product is suitable for investors who are seeking*• Long Term Capital Growth• Investments predominantly in equity and equity related securities.• High Risk. (BROWN)

9.8%

25%

Equity Holdings HDFC Bank Ltd. 7.32ICICI Bank Ltd. 5.83 Larsen & Toubro Ltd. 5.15 Infosys Ltd. 4.65 Maruti Suzuki India Ltd. 4.31 Sun Pharmaceuticals Industries Ltd. 3.33 Tata Motors Ltd. 3.23 Axis Bank Ltd. 3.01 Kotak Mahindra Bank Ltd. 3.00 HDFC Ltd. 2.93Tata Consultancy Services Ltd. 2.58 State Bank of India 2.46 IndusInd Bank Ltd. 2.42 Lupin Ltd. 2.41 Eicher Motors Ltd. 2.33 Ultratech Cement Ltd. 2.18 Bharat Forge Ltd. 2.08 Kansai Nerolac Paints Ltd. 2.05 Britannia Industries Ltd. 1.91 GlaxoSmithKline Consumer Healthcare Ltd. 1.79 Ashok Leyland Ltd. 1.78 Divi's Laboratories Ltd. 1.73 Oil & Natural Gas Corp Ltd. 1.67 Fag Bearings India Ltd. 1.62 JK Cement Ltd. 1.50 Blue Dart Express Ltd. 1.50 Sadbhav Engineering Ltd. 1.38 Motherson Sumi Systems Ltd. 1.37 Havells India Ltd. 1.35 Shriram Transport Finance Company Ltd. 1.31 Dalmia Bharat Ltd. 1.29 VA Tech Wabag Ltd. 1.25 Cummins India Ltd. 1.24 Solar Industries India Ltd. 1.22 Voltas Ltd. 1.18 Gayatri Projects Ltd. 1.09 IDFC Ltd. 1.07 Whirlpool of India Ltd. 1.01 HCL Technologies Ltd. 1.00 Alstom T&D India Ltd. 0.93 Tech Mahindra Ltd. 0.89 Asian Paints Ltd. 0.75 Info Edge (India) Ltd. 0.71 Astra Microwave Products Ltd. 0.71 Bank of Baroda 0.40 NCC Ltd. 0.25 Equity Holdings Total 95.17 Debt Holdings Non-Convertible Debentures Blue Dart Express Ltd. ICRA AA 0.04 Non-Convertible Debentures Total 0.04 Debt Holdings Total 0.04 Cash & Other ReceivablesCBLO / Repo 3.84 Net Receivables/(Payables) 0.95 Cash & Other Receivables Total 4.79 Grand Total 100.00

`18k Crs - `90k Crs27.0%

5.0%

30%

29.8%



Dividend History

Direct Plan Dividend Option 01-Jul-13 0.50 15.222018-Nov-13 0.30 15.591024-Mar-14 0.30 16.6040Regular Plan Dividend Option 15-Dec-09 1.50 15.416025-Jan-10 1.40 14.025001-Jul-13 0.50 15.153018-Nov-13 0.30 15.461024-Mar-14 0.30 16.4147

Name of the schemeJPMorgan India Top 100 FundAllotment date23 June 2014Scheme structureAn open-ended equity growth schemeInvestment objectiveThe primary investment objective of the Scheme is to seek to generate capital appreciation, from a portfolio that is substantially constituted of equity securities and equity related securities of the top 100 companies, by market capitalisation, listed in India.Fund managers: EquityHarshad Patwardhan & Amit GadgilTotal experience (years)Harshad Patwardhan 17Amit Gadgil 11Experience managing the schemeHarshad Patwardhan 11 monthsAmit Gadgil 11 months

For all PlansMinimum investment amountRs 5,000 per application plus in multiples of Re. 1/- thereafterAdditional investment amountRs 1,000 per application plus in multiples of Re. 1/- thereafterEntry load - NilExit load If redeemed within 12 months from the date of allotment in respect of purchase made other than through SIP - 1%;If redeemed after 12 months from the date of allotment in respect of purchase made other than through SIP - NilExit load (SIP)If redeemed within 12 months from the date of allotment of Units of each installment of SIP purchase 1%;If redeemed after 12 months from the date of allotment of units of each installment of SIP purchase - NilBenchmarkS&P BSE 100 Index##NAV (as at 30 April 2015, in Rs.)Direct Plan - Dividend Option 11.6780



Regular Plan - Growth Option 11.5690Past performance may or may not be sustained in future.Average AUM (April 2015)Rs. 182.83 crore


JPMorgan India Top 100 Fund



Note: Active positive bets are those where the fund has a higher weightage as compared to the benchmark index (S&P BSE 100 Index). Source: BSE, Bloomberg.&Active bets are estimated.

Regular Plan~ 2.59%

Direct Plan~ 0.94%


*Includes industrial capital goods / diversified / construction / industrial products. ̂ Includes transportation.

Sec

tor

% of portfolio


0% 5% 10%

Ôthers

Oil & Gas

Cement

Pharma

Consumer

Technology

*Industrials/Infra

Auto

Financials

13.9%

12.9%

0.7%

12.1%

8.2%

4.4%


Note: Calculated on the basis of the number of days it would take to exit from stocks in the JPMISCF portfolio, assuming 30% of the average daily traded volume for each stock on the NSE/BSE can be transacted. Source: BSE/NSE, Bloomberg.

Liquidity measures

100

90

80

70

60

50

40

30

20

10

0<1 1-2

No. of days

% o

f to

tal p

ort

foli

o

100.0%

Equity HoldingsHDFC Bank Ltd. 8.78 ICICI Bank Ltd. 6.78 Infosys Ltd. 6.32 Larsen & Toubro Ltd. 6.01 Maruti Suzuki India Ltd. 4.47 Tata Motors Ltd. 4.01 State Bank of India 3.98 Kotak Mahindra Bank Ltd. 3.91 Axis Bank Ltd. 3.85 Sun Pharmaceuticals Industries Ltd. 3.65 HDFC Ltd. 3.39 Asian Paints Ltd. 3.35 Tata Consultancy Services Ltd. 2.99 Ultratech Cement Ltd. 2.86 Bharat Forge Ltd. 2.74 Bosch Ltd. 2.45 Britannia Industries Ltd. 2.34 Lupin Ltd. 2.23 IDFC Ltd. 2.07 Cummins India Ltd. 1.93 Eicher Motors Ltd. 1.90 Oil & Natural Gas Corp Ltd. 1.86 GlaxoSmithKline Consumer Healthcare Ltd. 1.78 Shree Cements Ltd. 1.53 Tech Mahindra Ltd. 1.52 Bharat Electronics Ltd. 1.47 Shriram Transport Finance Company Ltd. 1.30 HCL Technologies Ltd. 1.28 Motherson Sumi Systems Ltd. 1.09 Divi's Laboratories Ltd. 1.03 ABB India Ltd. 0.75 Titan Company Ltd. 0.73 Adani Ports & Special Economic Zone Ltd. 0.67 Bank of Baroda 0.39 Equity Holdings Total 95.41 Cash & Other Receivables CBLO / Repo 2.73 Net Receivables/(Payables) 1.86 Cash & Other Receivables Total 4.59 Grand Total 100.00

>`150k Crs44.0%

`60k Crs - `150k Crs33.0%

<`60k Crs24.0%


This product is suitable for investors who are seeking*• Long term capital growth• Investment in equity and equity-related securities of the top 100 largest companies,

by market capitalization, listed in india.• High Risk. (BROWN)

15% 20% 25%

*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

6.9%

1.9%

Standard deviation (%) 3.59Beta 1.02Sharpe ratio 4.74Portfolio turnover ratio^ 0.55(including equity, certificate of deposit, commercial paper, floating rate note, non-convertibles debentures, preference shares, futures, options and government securities)

Portfolio turnover ratio (Equity)^ 0.55@Risk free rate of return (repo) 7.50%


^Since the scheme has not completed 12 months the Portfolio Turnover ratios have not been provided.@As on April 30, 2015

30% 35%

34.4%



**JPMorgan India Equity Income Fund

Name of the scheme#JPMorgan India Equity Income Fund

Allotment date13 October 2014Scheme structureAn open-ended equity schemeInvestment objectiveThe investment objective of the scheme is to provide capital Appreciation and income distribution to the investors by using equity and e q u i t y r e l a t e d i n s t r u m e n t s , a r b i t r a g e opportunities, and investments in debt and money market instruments.However, there can be no assurance that the investment objective of the scheme will be realized or that income will be generated and the scheme does not assure or guarantee any returns.Fund managers: EquityAmit Gadgil & Karan SikkaTotal experience (years)Amit Gadgil 11Karan Sikka 7Experience managing the schemeAmit Gadgil 7monthsKaran Sikka 7 monthsFund managers: DebtNamdev Chougule & Ravi RatanpalTotal experience (years)Namdev Chougule 13Ravi Ratanpal 10Experience managing the schemeNamdev Chougule 7 monthsRavi Ratanpal 7 monthsFor all PlansMinimum investment amountRs.5,000 per application plus in multiples of Re.1/- thereofAdditional investment amountRs.1,000 per application plus in multiples of Re.1/- thereofEntry load - NilExit load If redeemed within 12 months from the date of allotment in respect of purchase made other than through SIP - 1%;If redeemed after 12 months from the date of allotment in respect of purchase made other than through SIP - NilExit load (SIP) If redeemed within 12 months from the date of allotment of Units of each installment of SIP purchase 1%;If redeemed after 12 months from the date of allotment of units of each installment of SIP purchase - NilBenchmark70% of CRISIL Liquid Fund Index and 30% in CNX NiftyNAV (as at 30 April 2015, in Rs.)Direct Plan - Bonus Option 10.5646



Regular Plan - Bonus Option 10.5295


Regular Plan - Growth Option 10.5288Past performance may or may not be sustained in future.Average AUM (April 2015)Rs. 401.38 Crore


Equity Holdings % to % to NAV NAV Deriv- atives UnHedge Positions HDFC Bank Ltd. 2.24 Maruti Suzuki India Ltd. 2.07 Infosys Ltd. 2.00 ICICI Bank Ltd. 1.91 HDFC Ltd. 1.58 Axis Bank Ltd. 1.40 Larsen & Toubro Ltd. 1.39 Sun Pharmaceuticals Industries Ltd. 1.15 State Bank of India 1.06 IndusInd Bank Ltd. 1.00 Tata Motors Ltd. 0.95 Britannia Industries Ltd. 0.95 Asian Paints Ltd. 0.95 Tata Consultancy Services Ltd. 0.95 Yes Bank Ltd. 0.74 IDFC Ltd. 0.73 Lupin Ltd. 0.72 Ultratech Cement Ltd. 0.71 Kansai Nerolac Paints Ltd. 0.71 Shree Cements Ltd. 0.70 Kotak Mahindra Bank Ltd. 0.65 Ashok Leyland Ltd. 0.46 CRISIL Ltd. 0.44 HCL Technologies Ltd. 0.40 GSK Consumer Healthcare Ltd. 0.38 Tech Mahindra Ltd. 0.37 Blue Dart Express Ltd. 0.36 Shriram Transport Finance Co. Ltd. 0.34Oil & Natural Gas Corp Ltd. 0.32 Bosch Ltd. 0.29 Cummins India Ltd. 0.28 Bharat Forge Ltd. 0.25 Eicher Motors Ltd. 0.20 Motherson Sumi Systems Ltd. 0.20 Titan Company Ltd. 0.18 Divi's Laboratories Ltd. 0.17 ABB India Ltd. 0.15 UnHedge Positions Total 29.35 Hedge Positions IDFC Ltd. 3.86 IDFC Ltd.- FUTURES (3.90)Reliance Industries Ltd. 3.77 Reliance Industries Ltd.- FUTURES (3.76)ITC Ltd. 3.43 ITC Ltd.- FUTURES (3.46)HDFC Bank Ltd. 3.07 HDFC Bank Ltd.- FUTURES (3.10)ICICI Bank Ltd. 2.79 ICICI Bank Ltd.- FUTURES (2.82)Lupin Ltd. 2.76 Lupin Ltd.- FUTURES (2.78)State Bank of India 2.75 State Bank of India- FUTURES (2.76)Axis Bank Ltd. 2.54 Axis Bank Ltd.- FUTURES (2.56)Maruti Suzuki India Ltd. 2.52 Maruti Suzuki India Ltd.- FUTURES (2.54)Aurobindo Pharma Ltd. 2.14 Aurobindo Pharma Ltd.- FUTURES (2.16)IndusInd Bank Ltd. 1.92 IndusInd Bank Ltd.- FUTURES (1.94)JSW Steel Ltd. 1.30 JSW Steel Ltd.- FUTURES (1.31)Tata Steel Ltd. 1.23 Tata Steel Ltd.- FUTURES (1.24)Grasim Industries Ltd. 1.10 Grasim Industries Ltd.- FUTURES (1.10)Oil & Natural Gas Corp Ltd. 1.09 Oil & Natural Gas Corp Ltd.- FUTURES (1.09)Titan Company Ltd. 0.92 Titan Company Ltd.- FUTURES (0.92)Indian Oil Corporation Ltd. 0.42 Indian Oil Corporation Ltd.- FUTURES (0.43) Punjab National Bank 0.24 Punjab National Bank- FUTURES (0.24)Hedge Positions Total 37.85 (38.11)Equity Holdings Total 67.20 (38.11)Margin Deposit Canara Bank UNRATED 3.15 Corporation Bank UNRATED 1.69 Margin Deposit Total 4.84 Debt Holdings Non-Convertible Debentures Sintex Industries Ltd. CARE AA 6.96 Bharat Aluminium Co. Ltd. CRISIL AA- 5.94 Welspun Corp Ltd. CARE AA- 5.82 Fullerton India Credit Co. Ltd. ICRA AA+ 5.16 Tata Power Company Ltd. CARE AA 0.36 Non-Convertible Debentures Total 24.24 Debt Holdings Total 24.24 Money Market Instruments Money Market Bonds Amtek Auto Ltd. CARE AA 3.59 Money Market Bonds Total 3.59 Money Market Instruments Total 3.59Cash & Other Receivables CBLO / Repo 0.44 Net Receivables/(Payables) (0.31)Cash & Other Receivables Total 0.13 Grand Total 100.00



This product is suitable for investors who are seeking*• Income distribution by investing in debt and money market instrument and arbitrage opportunities.• Long term capital appreciation by using equity and equity related instruments.• Medium Risk (YELLOW)

**Please note that the name of JPMorgan India Equity Savings Fund has been changed to JPMorgan India Equity Income Fund with effect from 14th November 2014.

*Includes industrial capital goods / diversified / construction / industrial products. The above chart represents the unhedged equity positions only.

Oil & Gas

Others

Cement

Pharma

*Industrials/Infra

Consumer

Technology

Auto

Financials

Sec

tor

% of portfolio


0% 8%

0.3%

4%

0.4%

16%

1.4%

2.0%

2.1%

3.2%

4.2%

Standard deviation (%) 1.29Beta 0.50Sharpe ratio 5.23Portfolio turnover ratio^ 1.41(including equity, certificate of deposit, commercial paper, floating rate note, non-convertibles debentures, preference shares, futures, options and government securities)

Portfolio turnover ratio (Equity)^ 0.71@Risk free rate of return (repo) 7.50%


Total stocks in portfolio 37




>`90k Crs62.0%

`18k Crs - `90k Crs33.0%

12.1%

Liquidity measures

1009080706050403020100

<1 1-2No. of days

% o

f to

tal p

ort

foli

o 97.6%

2.4%

`60k Crs - `18k Crs5.0%

3.7%


Dividend history

Direct Plan Dividend Option13-Mar-15 0.15 10.6547Regular Plan Dividend Option13-Mar-15 0.15 10.6288

12%

Regular Plan~ 2.70%

Direct Plan~ 1.08%


JPMorgan India Economic Resurgence Fund

Name of the scheme

JPMorgan India Economic Resurgence Fund

Allotment date

3 February 2015

Scheme structure

An open-ended equity scheme


The primary investment objective of the scheme is

to generate long term capital appreciation, from a

diversified por tfolio that is substantially

constituted of equity and equity related securities

of companies with focus on riding economic cycles

through dynamic allocation between various

sectors and stocks at different stages of economic

activity.

However, there can be no assurance that the

investment objective of the scheme will be realised.

Fund managers

Harshad Patwardhan & Karan Sikka



Karan Sikka 7


Harshad Patwardhan 3 months

Karan Sikka 3 months



thereof



thereof

Entry load - Nil

Exit load



through SIP - 1%;



through SIP - Nil

Exit load (SIP)



purchase 1%;



purchase - Nil

Benchmark

S&P BSE 200







in future.


Rs. 97.15 Crore



This product is suitable for investors who are seeking*

• Long-term capital growth.• Investment in equity and equity-related securities of companies with a focus on riding economic cycles

through dynamic allocation between various sectors and stocks at different stages of economic activity.• High Risk (BROWN)

*Includes industrial capital goods / diversified / construction / industrial products.The above chart represents the unhedged equity positions only.

Others

Consumer

Cement

Auto

*Industrials/Infra

Financials

Sec

tor

% of portfolio


0% 10%

2.3%

5%

3.7%

7.0%

14.6%

Standard deviation (%) 2.53Beta -64.62Sharpe ratio -9.65Portfolio turnover ratio^ -(including equity, certificate of deposit, commercial paper, floating rate note, non-convertibles debentures, preference shares, futures, options and government securities)

Portfolio turnover ratio (Equity)^ -@Risk free rate of return (repo) 7.50%



Equity Holdings HDFC Bank Ltd. 8.56 Larsen & Toubro Ltd. 6.55 ICICI Bank Ltd. 5.52 Maruti Suzuki India Ltd. 4.11 State Bank of India 3.56 Axis Bank Ltd. 3.18 Kotak Mahindra Bank Ltd. 2.75 Bharat Forge Ltd. 2.70 HDFC Ltd. 2.69 Cummins India Ltd. 2.51 Bosch Ltd. 2.35 Ultratech Cement Ltd. 2.31 NCC Ltd. 2.30 Fag Bearings India Ltd. 2.28 Yes Bank Ltd. 2.20 Kansai Nerolac Paints Ltd. 2.12 Amara Raja Batteries Ltd. 2.07 JK Cement Ltd. 2.01 Bharat Electronics Ltd. 1.96 IndusInd Bank Ltd. 1.93 Grindwell Norton Ltd 1.86 J.KUMAR INFRAPROJECTS LTD. 1.82 Shriram Transport Finance Company Ltd. 1.79 Alstom T&D India Ltd. 1.66 Ashok Leyland Ltd. 1.62 Kajaria Ceramics Ltd. 1.62 Sadbhav Engineering Ltd. 1.61 WABCO India Ltd. 1.55 Whirlpool of India Ltd. 1.55 Voltas Ltd. 1.54 Motherson Sumi Systems Ltd. 1.48 Eicher Motors Ltd. 1.42 Dalmia Bharat Ltd. 1.39 Solar Industries India Ltd. 1.39 Shree Cements Ltd. 1.32 IDFC Ltd. 1.25 Bank of Baroda 1.12 VA Tech Wabag Ltd. 1.11 TIL Ltd. 1.09 Action Construction Equipment Ltd. 1.03 Thermax Ltd. 0.98 Astra Microwave Products Ltd. 0.88 Texmaco Rail & Engineering Ltd 0.81 Equity Holdings Total 95.55 Cash & Other ReceivablesCBLO / Repo 4.08 Net Receivables/(Payables) 0.37 Cash & Other Receivables Total 4.45 Grand Total 100.00



Note: Active positive bets are those where the fund has a higher weightage as compared to the benchmark index (S&P BSE 200). Source: BSE, Bloomberg.&Active bets are estimated.


>`90k Crs39.0%

<`6k Crs20.0%

`6k Crs - `18k Crs14.0%

`18k Crs - `90k Crs27.0%

Liquidity measures

90

80

70

60

50

40

30

20

10

0<1 1-2 2-3 >3

No. of days

% o

f to

tal p

ort

foli

o

84.3%

6.7% 4.5%

20%15% 30%25% 35%

4.5%

33.4%

34.6%



JPMorgan India Balanced Advantage Fund

Name of the schemeJPMorgan India Balanced Advantage FundAllotment date9 April 2015Scheme structureAn open-ended balanced schemeInvestment objectiveThe investment objective of the scheme is to generate long term capital appreciation and current income from a portfolio that is invested in Equity and equity related securities as well as in fixed income securities.However, there can be no assurance that the investment objective of the scheme will be realized or that income will be generated and the scheme does not assure or guarantee any returns.Fund managers: EquityAmit Gadgil & Karan SikkaTotal experience (years)Amit Gadgil 11Karan Sikka 7Experience managing the schemeAmit Gadgil 1 monthKaran Sikka 1 monthFund managers: DebtNamdev Chougule & Ravi RatanpalTotal experience (years)Namdev Chougule 13Ravi Ratanpal 10Experience managing the schemeNamdev Chougule 1 monthRavi Ratanpal 1 month

For all PlansMinimum investment amountRs.5,000 per application plus in multiples of Re.1/- thereofAdditional investment amountRs.1,000 per application plus in multiples of Re.1/- thereofEntry load - NilExit load If redeemed within 12 months from the date of allotment in respect of purchase made other than through SIP - 1%;If redeemed after 12 months from the date of allotment in respect of purchase made other than through SIP - NilExit load (SIP) If redeemed within 12 months from the date of allotment of Units of each installment of SIP purchase 1%;If redeemed after 12 months from the date of allotment of units of each installment of SIP purchase - NilBenchmarkCRISIL Balanced Fund IndexNAV (as at 30 April 2015, in Rs.)Direct Plan - Dividend Option 9.5554Direct Plan - Growth Option 9.5633Regular Plan - Bonus Option 9.5527Regular Plan - Dividend Option 9.5526Regular Plan - Growth Option 9.5526Past performance may or may not be sustained in future.Average AUM (April 2015)Rs. 130.82 Crore


Equity Holdings % to % to NAV NAV Deriv- atives Equity Holdings UnHedge Positions HDFC Bank Ltd. 6.88 ICICI Bank Ltd. 3.96 Infosys Ltd. 3.66 Axis Bank Ltd. 2.87 Larsen & Toubro Ltd. 2.61 Tata Consultancy Services Ltd. 2.43 State Bank of India 2.34 Tata Motors Ltd. 2.18 IndusInd Bank Ltd. 2.10 Sun Pharmaceuticals Industries Ltd. 2.08 Maruti Suzuki India Ltd. 1.83 Kotak Mahindra Bank Ltd. 1.76 Yes Bank Ltd. 1.44 IDFC Ltd. 1.44 Ultratech Cement Ltd. 1.32 Asian Paints Ltd. 1.22 Jubilant Foodworks Ltd. 1.04 Motilal Oswal Financial Services Ltd. 1.03 Lupin Ltd. 0.96 Britannia Industries Ltd. 0.85 Eicher Motors Ltd. 0.81 CRISIL Ltd. 0.81 HCL Technologies Ltd. 0.81 Kansai Nerolac Paints Ltd. 0.80 Shriram Transport Finance Co. Ltd. 0.73 GSK Consumer Healthcare Ltd. 0.70 Blue Dart Express Ltd. 0.70 Motherson Sumi Systems Ltd. 0.69 Tech Mahindra Ltd. 0.61 Ashok Leyland Ltd. 0.60 Voltas Ltd. 0.60 Whirlpool of India Ltd. 0.58 WABCO India Ltd. 0.56 Cummins India Ltd. 0.43 Havells India Ltd. 0.42 Bharat Forge Ltd. 0.41 Shree Cements Ltd. 0.40 Alstom T&D India Ltd. 0.39 Grindwell Norton Ltd 0.39 Divi's Laboratories Ltd. 0.39 Sadbhav Engineering Ltd. 0.37 Ashoka Buildcon Ltd. 0.36 NCC Ltd. 0.35 Astra Microwave Products Ltd. 0.34 Fag Bearings India Ltd. 0.31 J.Kumar Infraprojects Ltd. 0.20 UnHedge Positions Total 57.77 Hedge Positions IDFC Ltd. 3.91 IDFC Ltd.- FUTURES (3.94)Lupin Ltd. 2.32 Lupin Ltd.- FUTURES (2.34)Axis Bank Ltd. 1.74 Axis Bank Ltd.- FUTURES (1.75)ITC Ltd. 0.97 ITC Ltd.- FUTURES (0.98)Hedge Positions Total 8.94 (9.01)Equity Holdings Total 66.70 (9.01)Government Bond And Treasury Bill Government Bond Government of India SOVEREIGN 26.85 Government Bond Total 26.85 Government Bond & Treasury Bill Total 26.85 Cash & Other Receivables CBLO / Repo 7.26 Net Receivables/(Payables) (0.81) Cash & Other Receivables Total 6.45 Grand Total 100.00



This product is suitable for investors who are seeking*• Long Term wealth creation solution.• Balanced fund aiming for capital appreciation and current income by investing in equity as well as

fixed income securities• High Risk (BROWN)

*Includes industrial capital goods / diversified / construction / industrial products. The above chart represents the unhedged equity positions only.

Others

Cement

Pharma

Consumer

*Industrials/Infra

Auto

Technology

Financials

Sec

tor

% of portfolio


0% 20%

1.0%

15%

1.7%

30%

3.4%

5.6%

6.4%

7.5%

Standard deviation (%) -Beta -Sharpe ratio -Portfolio turnover ratio^ -(including equity, certificate of deposit, commercial paper, floating rate note, non-convertibles debentures, preference shares, futures, options and government securities)

Portfolio turnover ratio (Equity)^ -@Risk free rate of return (repo) 7.50%


Total stocks in portfolio 46




>`90k Crs58.0%

`18k Crs - `90k Crs26.0%

25.4%

Liquidity measures

1009080706050403020100

<1 1-2No. of days

% o

f to

tal p

ort

foli

o 97.5%

1.8%

`6k Crs5.0%

6.7%

25%

`60k Crs - `18k Crs11.0%

10%5%

2-3

0.7%

Name of the scheme

JPMorgan Greater China Equity Off-shore Fund

Allotment date

Regular Plan - 26 August 2009


Scheme structure

An open ended fund of funds scheme


The primary investment objective of the Scheme is

to provide long term capital appreciation by

investing in JPMorgan Funds - Greater China Equity

Fund, an equity fund which invests primarily in a

diversified portfolio of companies incorporated or

which have their registered office located in, or

derive the predominant part of their economic

activity from, a country in the Greater China region.

Fund manager

Namdev Chougule

Total experience 13 years

Experience managing the scheme 5 yrs, 7 mnths.


Rs 10,000 per application plus in multiples of Re.

1/- thereafter


Rs 1,000 per application plus in multiples of Re. 1/-

thereafter

Entry load - Nil

Exit load



through SIP - 1%;



through SIP - Nil

Exit load (SIP)



purchase 1%;



purchase - Nil

Benchmark of the underlying fund

MSCI Golden Dragon Index





in future.


Rs. 123.55 crore

International Mutual Fund Units

JPMorgan Funds - Greater China Fund 98.71%

International Mutual Fund Units Total 98.71%

Cash & Other Receivables

CBLO / Repo 1.49%

Net Receivables (Payable) (0.20%)

Cash & Other Receivables Total 1.29%

Grand Total 100.00

Holding as on 30 April 2015

JPMorgan Greater China Equity Off-shore Fund

Details of JPMorgan Greater China Equity Off-shore Fund

JPMorgan Greater China Equity JPMorgan Funds - Greater China

Offshore Fund Fund (underlying fund)

Regular Plan~ 1.70% 1.00%

Direct Plan~ 1.41% 1.00%


Details of JPMorgan Funds - Greater China Fund (underlying fund)

Equity holding Weight (%)

Taiwan Semiconductor (Information Technology) 7.8

Tencent (Information Technology) 7.8

AIA (Financials) 5.1

China Construction Bank (Financials) 4.3

CK Hutchison (Financials) 4.1

Ping An Insurance (Financials) 3.9

China Pacific Insurance (Financials) 2.9

China Merchants Bank (Financials) 2.4

Agricultural Bank of China (Financials) 2.2

China Petroleum & Chemical (Energy) 2.2

Total 42.7

Statistical analysis as on 31 March 2015

3 years 5 years

Correlation 0.98 0.98

Alpha 2.27 1.30

Beta 0.99 1.04

10 largest holdings as on 31 March 2015

Sector breakdown as on 31 March 2015

Sector Fund

Financials 42.1%

Information Technology 28.0%

Telecommunication Services 6.0%

Industrials 5.9%

Health Care 4.0%

Consumer Discretionary 3.5%

Utilities 3.4%

Energy 3.0%

Consumer Staples 2.4%

Materials 1.9%

Cash -0.2%

Total 100.0%

Investors will be bearing the recurring expenses of the Scheme in addition to the expenses of other underlying schemes in which the Scheme is invested. ~Does not include Service Tax on Investment Management fees.

Geographical breakdown as on 31 March 2015

Country FundChina 58.1%Taiwan 24.5%Hong Kong 17.6%Cash -0.2%Total 100.0%

This product is suitable for investors who are seeking*• Long Term Capital Growth• Investment in JPMorgan Funds Greater China Fund, an equity fund which invests primarily in a diversified portfolio of

companies that are domiciled in, or carrying out the main part of their economic activity in, a country of Greater China region

• High Risk. (BROWN)

Quarterly Outlook: We remain constructive on Greater China markets given China's policy easing, reasonable equity valuations and ample global liquidity.

Name of the scheme

JPMorgan ASEAN Equity Off-shore Fund

Allotment date

Regular Plan - 1 July 2011


Scheme structure

An Open-ended Fund of Funds Scheme


The primary investment objective of the Scheme is to

provide long term capital growth by investing

predominantly in JPMorgan Funds – ASEAN Equity

Fund, an equity fund which invests primarily in

companies of countries which are members of the

Association of South East Asian Nations (ASEAN).


investment objective of the Scheme will be realized.

Fund manager

Namdev Chougule


Experience managing the scheme 3 years, 9 months


Rs. 5,000 per application and in multiples of Re. 1

thereafter.



thereafter.

Entry load - Nil

Exit load



through SIP - 1%;If redeemed after 12 months from the date of allotment in respect of purchase made other than through SIP - Nil

Exit load (SIP)



purchase 1%;If redeemed after 12 months from the date of allotment of units of each installment of SIP purchase - Nil


MSCI South East Asia Index




Past performance may or may not be sustained in

future.


Rs. 159.48 crore


JPMorgan Funds - ASEAN Equity Fund 99.49%



CBLO / Repo 1.30%

Net Receivables / (Payables) (0.79%)


Grand Total 100.00


JPMorgan ASEAN Equity Off-shore Fund

Details of JPMorgan ASEAN Equity Off-shore Fund


Details of JPMorgan Funds - ASEAN Equity Fund (underlying fund)

Equity holding Weight (%)DBS (Financials) 5.9%Singapore Telecommunications (Telecommunication Services) 4.7%Oversea-Chinese Banking (Financials) 4.2%United Overseas Bank (Financials) 4.0%Bank Central Asia (Financials) 3.9%Kasikornbank (Financials) 3.3%PTT (Energy) 2.8%Airports of Thailand (Industrials) 2.2%Public Bank (Financials) 1.9%Bank Rakyat Indonesia (Financials) 1.9%Total 34.8%



Country FundSingapore 29.6%Thailand 20.8% Indonesia 20.6%Malaysia 13.3%Philippines 8.8%Vietnam 1.0%Hong Kong 0.9%Cash 5.0%Total 100.0%


Sector Fund

Financials 48.5%

Industrials 15.1%



Energy 4.7%


Health Care 2.8%

Utilities 2.7%

Materials 0.3%


Cash 5.0%

Total 100.0%


JPMorgan ASEAN Equity Off-shore Fund ASEAN Equity Fund

(underlying fund)




3 years 5 years Correlation 0.97 -Alpha 3.29 -Beta 1.01 -

This product is suitable for investors who are seeking*• Long Term Capital Growth• Investments predominantly in JPMorgan Funds ASEAN Equity Fund, an equity fund which invests primarily in companies of countries which are

members of the Association of South East Asian Nations• High Risk. (BROWN)

Quarterly Outlook: We believe the combination of the falling oil price and a pragmatic policy designed to take advantage of this decline should boost the longterm prospects of the region.

Name of the scheme

JPMorgan US Value Equity Off-shore Fund

Allotment date

7 August, 2013

Scheme structure



To provide longterm capital growth by investing

primarily in a value style biased portfolio of US

companies.

Fund manager

Namdev Chougule


Experience managing the scheme 1 yr, 8 months

For all Plans

Minimum investment amount


thereafter.



thereafter.

Entry load - Nil

Exit load



through SIP - 1%;

If redeemed after 12 months from the date of allotment in respect of purchase made other than through SIP - Nil

Exit load (SIP)



purchase 1%;

If redeemed after 12 months from the date of allotment of units of each installment of SIP purchase - Nil


Russell 1000 Value Index





in future.


Rs. 161.42 crore


JPMorgan Funds - US Value Fund 100.68%



CBLO / Repo 0.54%


Cash & Other Receivables Total (0.68%)

Grand Total 100.00


JPMorgan US Value Equity Off-shore Fund

Details of JPMorgan US Value Equity Off-shore Fund


Details of JPMorgan Funds - US Value Equity Fund (underlying fund)

Equity holding Weight (%)

Wells Fargo (Financials) 4.1%

Exxon Mobil (Energy) 3.1%

Pfizer (Health Care) 2.8%

Johnson & Johnson (Health Care) 2.6%

Capital One (Financials) 2.0%

Chevron (Energy) 2.0%

Bank of America (Financials) 1.9%

AIG (Financials) 1.9%

Loews (Financials) 1.9%

Merck & Co. (Health Care) 1.9%

Total 24.2%



Sector Fund

Financials 33.6%


Health Care 10.1%

Energy 9.2%

Industrials 7.8%


Utilities 6.0%


Materials 4.3%


Total 100.0%


JPMorgan US Value Equity Off-shore Fund US Value Equity Fund

(underlying fund)




3 years 5 years ECorrelation 0.96 0.97

EAlpha 0.46 1.26EBeta 0.94 0.91

This product is suitable for investors who are seeking*• Long Term Capital Growth• Investments in equity and equity-related securities of US companies• High Risk. (BROWN)

Quarterly Outlook: Despite the volatility we have seen so far this year, our outlook for both the US economy and equity markets remains constructive.

EThe time difference between Fund NAV calculation and the US market can distort this figure. All equity indices stated as ‘Net’ are calculated net of tax as per the standard published approach by the index vendor unless stated otherwise.

Name of the scheme

JPMorgan Europe Dynamic Equity Offshore Fund

Allotment date

7 February, 2014

Scheme structure



To provide long term capital growth by investing

predominantly in the JPMorgan Funds - Europe

Dynamic Fund, an equity fund which invests

primarily in an aggressively managed portfolio of

European companies.

Fund manager

Namdev Chougule


Experience managing the scheme 1 yr, 3 months

For all Plans



thereafter.



thereafter.

Entry load - Nil

Exit load



through SIP - 1%;


Exit load (SIP)



purchase 1%;



MSCI Europe Index





in future.


Rs. 155.88 crore


JPMorgan Europe Dynamic Equity Offshore Fund 100.52%



CBLO / Repo 0.75%


Cash & Other Receivables Total (0.52%)

Grand Total 100.00


JPMorgan Europe Dynamic Equity Off-shore Fund

Details of JPMorgan Europe Dynamic Equity Offshore Fund


Details of JPMorgan Europe Dynamic Equity Offshore Fund


JPMorgan Europe Dynamic Equity Offshore Fund Europe Dynamic Equity Fund

(underlying fund)



This product is suitable for investors who are seeking*• Long-term Capital Growth• Investments in equity and equity-related securities of European companies• High Risk. (BROWN)

Outlook: As long as European corporate fundamentals remain strong and earnings are on the rise, we think that regional equity markets can make further headway over the next year.

Equity holding Weight (%)Delhaize (Consumer Staples) 2.2%Novartis (Health Care) 2.0%BT (Telecommunication Services) 2.0%Novo Nordisk (Health Care) 1.9%Lloyds Bank (Financials) 1.8%Prudential (Financials) 1.8%Daimler (Consumer Discretionary) 1.8%International Consolidated Airlines (Industrials) 1.8%Reckitt Benckiser (Consumer Staples) 1.7%Cap Gemini (Information Technology) 1.7%Total 18.7%



Country FundUnited Kingdom 24.5%France 15.1%Germany 15.1%Switzerland 7.8%Netherlands 7.2%Denmark 5.4%Belgium 4.3%Spain 4.0%Ireland 3.9%Others 4.2%Cash 8.5%Total 100.0%


Sector Fund

Financials 20.3%

Industrials 16.3%



Materials 9.5%

Health Care 8.5%



Energy 0.8%

Utilities 0.5%

Cash 8.5%

Total 100.0%Statistical analysis as on 31 March 2015

3 years 5 years Correlation 0.93 0.93Alpha 4.76 3.30Beta 1.05 1.10

Name of the scheme

JPMorgan Emerging Markets Opportunities

Equity Off-shore Fund

Allotment date

7 July, 2014

Scheme structure



The primary investment objective of the Scheme is

to seek to provide long term capital growth by

investing predominantly in the JPMorgan Funds -

Emerging Markets Opportunities Fund, an equity

fund which invests primarily in an aggressively

managed portfolio of emerging market companies.


investment objective of the Scheme will be

realised.

Fund manager

Namdev Chougule


Experience managing the scheme 10 months

For all Plans



thereafter.



thereafter.

Entry load - Nil

Exit load



through SIP - 1%;


Exit load (SIP)



purchase 1%;



MSCI Emerging Market Index





in future.


Rs. 11.51 crore


JPMorgan Emerging Markets Opportunities Equity Offshore Fund 99.26%



CBLO / Repo 0.43%

Net Receivables / (Payables) 0.31%


Grand Total 100.00


Details of JPMorgan Emerging Markets Opportunities Equity Off-shore Fund


Details of JPMorgan Emerging Markets Opportunities Equity Off-shore Fund


JPMorgan Emerging Markets Opportunities Emerging Markets Opportunities

Equity Off-shore Fund Equity Off-shore Fund (underlying fund)



This product is suitable for investors who are seeking*• Long-term Capital Growth• Investments predominantly in JPMorgan Funds - Emerging Markets Opportunities Funds, an

equity oriented fund which invest primarily in an aggressively managed portfolio of emerging market companies.

• High Risk. (BROWN)

Outlook: Following four years of headwinds facing emerging market equities, we are monitoring three potential catalysts for signs of a turn in relative performance. First, currencies need to stabilise. Second, emerging market growth needs to recover, in both absolute and relative terms. Finally, emerging market earnings need to recover from the multiyear run of disappointment that has led to the derating of the past few years. When the first two catalysts—currency stability and a pickup in growth—take hold, we expect earnings upgrades to follow.

Equity holding Weight (%)Tencent (Information Technology) 3.4%Infosys Technologies (Information Technology) 3.0%China Merchants Bank (Financials) 2.7%Magnit (Consumer Staples) 2.7%Samsung Electronics (Information Technology) 2.6%MediaTek (Information Technology) 2.6%Great Wall Motor (Consumer Discretionary) 2.2%Turkiye Halk Bankasi (Financials) 2.0%MTN (Telecommunication Services 2.0%Siliconware Precision Industries (Information Technology) 1.9%Total 25.1%



Country FundChina 28.1%South Korea 15.1%Taiwan 9.8%Brazil 9.0%India 7.7%South Africa 7.3%Russia 6.5%Thailand 3.9%Indonesia 2.7%Others 8.9%Cash 1.0%Total 100.0%


Sector Fund

Financials 24.7%





Materials 5.2%

Industrials 4.5%

Energy 3.7%

Utilities 2.2%

Health Care 0.5%

Cash 1.0%

Total 100.0%Statistical analysis as on 31 March 2015

3 years 5 years Correlation 0.96 0.97Alpha 0.71 2.37Beta 1.00 0.96

JPMorgan Emerging Markets Opportunities Equity Off-shore Fund

Modified Average Yield to Total expense ratio duration maturity maturity (YTM)# (year-to-date ratio to average AUM) In days Super Institutional Plan Retail Plan Direct Plan 0.08 31 8.37% 0.08%~ 0.18%~ 0.05%~

*The assigned rating AAAmfs is valid only for "JPMorgan India Liquid Fund". The rating of CRISIL is not an opinion of the

Asset Management Company's willingness or ability to make timely payment to the investor. The rating is also not an opinion

on the stability of the NAV of the Fund, which could vary with market developments. #Gross yield.


Rating % to NAV

Name of the scheme

JPMorgan India Liquid Fund

Allotment date

Super Institutional - 21 September 2007

Retail - 16 September 2008


Scheme structure

An open ended Liquid Scheme


The investment objective of the Scheme is to provide reasonable returns, commensurate with low risk while providing a high level of liquidity, through a portfolio of money market and debt securities. However, there can be no assurance that the investment objectives of the Scheme will be realized.

Fund managers

Namdev Chougule & Ravi Ratanpal

Total experience (in years)

Namdev Chougule 13

Ravi Ratanpal 10

Experience in managing this scheme

Namdev Chougule 6 years, 10 months

Ravi Ratanpal 3 years, 7 months

For all PlansMinimum initial application amount: Rs. 10,000 per application and in multiples of Re. 1 thereafter.

Minimum additional application amount: Re. 1 per application and in multiples of Re. 1 thereafter.

Entry Load - Nil

Entry Load (SIP) Nil

Exit Load Nil

Exit Load (SIP) Nil

Benchmark

CRISIL Liquid Fund Index


Direct Plan - Bonus Option 10.6404

Direct Plan - Daily Dividend Option 10.0101


Direct Plan - Weekly Dividend Option 10.1369

Retail Plan - Daily Dividend Option 10.0190

Retail Plan - Growth Option 16.6063

Retail Plan - Monthly Dividend Option 10.0305

Retail Plan - Weekly Dividend Option 10.0238

Super Institutional Plan -

Annual Dividend Option 12.6166

Super Institutional Plan - Bonus Option 10.6230


Daily Dividend Option 10.0279


Fortnightly Dividend Option 10.1844

Super Institutional Plan - Growth Option 18.2359


Monthly Dividend Option 10.0393


Weekly Dividend Option 10.1844

Past performance may or may not be sustained in future.

Average AUM (April 2015)Rs. 4080.55 crore

JPMorgan India Liquid Fund


Name of the instrumentMoney Market Instruments

Certificate of Deposit

Union Bank of India CRISIL A1+ 6.67

Allahabad Bank ICRA A1+ 5.56

Syndicate Bank CRISIL A1+ 5.52

ING Vysya Bank Ltd. CRISIL A1+ 4.87

Punjab & Sind Bank CRISIL A1+ 4.44

Bank of Baroda ICRA A1+ 4.42

UCO Bank CRISIL A1+ 4.40

IDBI Bank Ltd. CRISIL A1+ 2.11

Axis Bank Ltd. CRISIL A1+ 1.10

Canara Bank CRISIL A1+ 0.86

Certificate of Deposit Total 39.95

Commercial Paper

Export Import Bank of India CRISIL A1+ 11.02

Indiabulls Housing Finance Ltd. CRISIL A1+ 10.99

Edelweiss Financial Services Ltd. CRISIL A1+ 8.86

SIDBI CRISIL A1+ 6.61

ECL Finance Ltd. CRISIL A1+ 5.53

National Fertilizers Ltd. CRISIL A1+ 3.33

Welspun India Ltd. FITCH A1+ 2.22

Dewan Housing Fin. Corp. Ltd. CRISIL A1+ 1.65

Adani Enterprises Ltd. BRICKWORKS A1+ 0.55

Navneet Education Ltd. CRISIL A1+ 0.55

Commercial Paper Total 51.31

Money Market Instruments Total 91.26


CBLO / Repo 8.53

Net Receivables/(Payables) 0.21

Cash & Other Receivables Total 8.74

Grand Total 100.00

BRICKWORKS A1+,CRISIL A1+,FITCH A1+,ICRA A1+

Rating profile

91.26%

Dividend details (Re / Unit)

Retail Monthly Dividend Option

25-Feb-15 0.06447185 10.0884

25-Mar-15 0.06386147 10.0878

27-Apr-15 0.07947811 10.1034

Direct Plan Monthly Dividend Option

25-Aug-14 0.07339785 10.1060

25-Sep-14 0.07413135 10.1067

27-Oct-14 0.07738489 10.1100

Super Institutional Monthly Dividend Option

25-Feb-15 0.06590036 10.0985

25-Mar-15 0.06499586 10.0976

27-Apr-15 0.08046964 10.1131


Asset allocation (% of total)

60

50

40

30

20

10

0Certificate of

Deposit

39.95%

CommercialPaper

51.31%

This product is suitable for investors who are seeking*• Income Over Short Term• Investments in money market and debt securities• Low Risk. (BLUE)

Record Date Gross Dividend CUM Dividend NAV

Cash andOther Receivables

8.74%

8.74%


Bonus History

Record Date - 25-Feb-15 RateSuper Institutional Plan - Bonus Option 2.15 bonus units for every 3 units heldDirect Plan - Bonus Option 2.15 bonus units for every 3 units held

Dividend details (Re / Unit) Name of the schemeJPMorgan India Treasury FundAllotment dateSuper Institutional - 21 September 2007Retail - 16 September 2008Direct Plan - 1 January 2013Scheme structureAn open ended income schemeInvestment objectiveThe investment objective is to provide liquidity and optimal returns to the investors by investing primarily in a mix of short-term debt and money market instruments which results in a portfolio having marginally higher maturity and moderately higher credit risk as compared to a liquid fund, at the same time maintaining a balance between safety and liquidity. However, there can be no assurance that the investment objective of the Scheme will be realized.Fund managersNamdev Chougule & Ravi RatanpalTotal experience (in years)Namdev Chougule 13Ravi Ratanpal 10Experience in managing this schemeNamdev Chougule 6 years, 10 monthsRavi Ratanpal 3 years, 7 months

For all PlansMinimum initial application amount: Rs. 10,000 per application and in multiples of Re. 1 thereafter.Minimum additional application amount: Re. 1 per application and in multiples of Re. 1 thereafter.Entry Load - NilEntry Load (SIP) NilExit Load NilExit Load (SIP) NilBenchmark: CRISIL Liquid Fund IndexNAV (as at 30 April 2015, in Rs.)Direct Plan - Annual Dividend Option 11.0939

Direct Plan - Bonus Option 12.3780

Direct Plan - Daily Dividend Option 10.0825

Direct Plan - Fortnightly Dividend Option 10.0700


Direct Plan - Monthly Dividend Option 10.4022

Retail Plan - Daily Dividend Option 10.0353


Retail Plan - Monthly Dividend Option 10.0394

Retail Plan - Weekly Dividend Option 10.0770


Annual Dividend Option 11.0900

Super Institutional Plan - Bonus Option 12.3351


Daily Dividend Option 10.0089

Super Institutional Plan - Dividend Option 12.5120


Fortnightly Dividend Option 10.0700

Super Institutional Plan - Growth Option 18.5016


Monthly Dividend Option 10.0499


Weekly Dividend Option 10.0699Past performance may or may not be sustained in future.Average AUM (April 2015)Rs. 1789.48 crore


JPMorgan India Treasury Fund

Name of the instrument Rating % to NAV

Holdings as on 30 April 2015 (in%)

**The assigned rating AAAmfs is valid only for "JPMorgan India Treasury Fund". The rating of CRISIL is not an opinion of the Asset Management Company's willingness or ability to make timely payment to the investor. The rating is also not an opinion on the stability of the NAV of the Fund, which could vary with market developments. #Gross yield.

Please note that w.e.f. 18th February 2009, the name of JPMorgan India Liquid Plus Fund has been changed to JPMorgan India Treasury Fund. ~Does not include Service Tax on Investment Management fees.

Retail Monthly Dividend Option

25-Feb-15 0.06099231 10.0927

25-Mar-15 0.05713401 10.0888

27-Apr-15 0.09057129 10.1223


25-Feb-15 0.06942770 10.4629

25-Mar-15 0.06520029 10.4587

27-Apr-15 0.10086698 10.4944

Super Institutional Monthly Dividend Option

25-Feb-15 0.06587218 10.1076

25-Mar-15 0.06182396 10.1035

27-Apr-15 0.09611541 10.1378

CARE AA,CRISIL A1+,CRISIL AAA,ICRA AA,ICRA AA-

Rating profile

76.79%

Corporate Debt

Non-convertible Debentures

Dalmia Cements (Bharat) Limited ICRA AA- 6.23

ECL Finance Ltd. ICRA AA 5.53

SREI Equipment Finance Ltd. CARE AA 2.24

Power Finance Corporation Ltd. CRISIL AAA 0.10

Non-Convertible Debentures Total 14.10

Corporate Debt Total 14.10

Money Market Instruments

Certificate of Deposit

Axis Bank Ltd. CRISIL A1+ 12.00

Oriental Bank of Commerce CRISIL A1+ 7.36

UCO Bank CRISIL A1+ 4.92

Andhra Bank CRISIL A1+ 4.91

IDBI Bank Ltd. CRISIL A1+ 2.56

Bank of Maharashtra CRISIL A1+ 2.47

Canara Bank CRISIL A1+ 2.31

Dena Bank CRISIL A1+ 1.24

Certificate of Deposit Total 37.77

Commercial Paper

NABARD CRISIL A1+ 9.22

Edelweiss Financial Services Ltd. CRISIL A1+ 4.82

ECL Finance Ltd. CRISIL A1+ 2.53

Edelwiess Commodities Services Ltd. CRISIL A1+ 2.30

Commercial Paper Total 18.87

Money Market Bonds

Amtek Auto Ltd. CARE AA 5.72

LIC Housing Finance Ltd. CRISIL AAA 0.33

Money Market Bonds Total 6.05



CBLO / Repo 12.80



Grand Total 100.00

Modified Average Yield to Total expense ratio duration maturity maturity (YTM)# (year-to-date ratio to average AUM) In days Super Institutional Plan Retail Plan Direct Plan 0.48 234 8.80% 0.49%~ 1.09%~ 0.34%~

CommercialPaper

Cash andOther

Receivables

80

70

60

50

40

30

20

10

0

37.77%


Certificateof deposit

23.21%18.87%

CorporateDebt

14.10%


This product is suitable for investors who are seeking*• Optimal Returns Over Short Term• Investments primarily in a mix of short term debt and money market instruments• Low Risk. (BLUE)


Money MarketBond

6.05%

23.21%

Bonus History

Record Date - 22-May-13 RateSuper Institutional Plan - Bonus Option 1 bonus unit for every 2 units heldDirect Plan - Bonus Option 1 bonus unit for every 2 units held

JPMorgan India Active Bond Fund


Institutional Plan Annual Dividend Option 07-Oct-08 0.20000000 10.274722-Jan-09 0.30000000 10.6346Regular Plan Monthly Dividend Option 07-Oct-08 0.20000000 10.251322-Jan-09 0.42500000 10.5850


Name of the scheme

JPMorgan India Active Bond Fund

Allotment date

Retail Plan - 27 June 2008

Institutional Plan - 27 June 2008


Scheme structure

An open ended income scheme


To generate optimal returns while maintaining

liquidity through active management of the

portfolio by investing in debt and money market

instruments. However, there can be no assurance

that the investment objective of the Scheme

will be realized.


Rs. 5,000 per application and in multiples of Re 1

thereafter.


Re 1 per application and in multiples of Re 1

thereafter.

Fund managers



Namdev Chougule 13

Ravi Ratanpal 10


Namdev Chougule 6 years, 9 months


Entry load - Nil

Exit load - (w.e.f. April 5, 2015)

Within 12 months from the date of allotment in

respect of Lumpsum & Within 12 months from the

date of allotment in respect of each purchase made

through SIP : 1.00%

After 12 months from the date of allotment in

respect of Lumpsum & After 12 months from the

date of allotment in respect of each purchase made

through SIP : Nil

Benchmark

CRISIL Composite Bond Fund Index




Institutional Plan - Dividend Option 12.7150

Institutional Plan - Growth Option 12.7372

Retail Plan - Dividend Option 14.3075




#The assigned rating AAAmfs is valid only for "JPMorgan India Active Bond Fund". The rating of CRISIL is not an opinion of the Asset Management Company's willingness or ability to make timely payment to the investor. The rating is also not an opinion on the stability of the NAV of the Fund, which could vary with market developments. #Gross yield. ~Does not include Service Tax on Investment Management fees.


Name of the instrument % to NAV

Rating profile


89.99%

10.01%

CARE AAA,CRISIL AAA,FITCH AAA,ICRA AAA

Modified Average Yield to Total expense ratio duration maturity maturity (YTM)# (year-to-date ratio to average AUM) In days Institutional Plan Retail Plan Direct Plan 4.23 2356 8.31% 0.90%~ 2.10%~ 0.87%~

100

90

80

70

60

50

40

30

20

10

0


Cash & OtherReceivables

10.01%

CorporateDebt

83.89%

Money MarketBonds

0.34%

This product is suitable for investors who are seeking*• Optimal Returns Over Medium To Long Term• Investments in debt and money market instruments with an active management of the

portfolio• Medium Risk. (YELLOW)


Corporate Debt Non-Convertible Debentures Export Import Bank of India CRISIL AAA 14.72Power Finance Corporation Ltd. CRISIL AAA 14.19Rural Electrification Corporation Ltd. CRISIL AAA 10.14LIC Housing Finance Ltd. CRISIL AAA 8.29Housing Development Finance Corporation Ltd. CRISIL AAA 8.15IDFC Ltd. CRISIL AAA 5.94Power Grid Corporation of India Ltd. CRISIL AAA 5.88Tata Sons Ltd. CRISIL AAA 5.66Nuclear Power Corporation CRISIL AAA 4.99Housing Development Finance Corporation Ltd. ICRA AAA 1.76Power Grid Corporation of India Ltd. ICRA AAA 1.23Rural Electrification Corporation Ltd. CARE AAA 0.88GAIL (India) Ltd. CARE AAA 0.72National Bank for Agriculture & Rural Development CRISIL AAA 0.63Infrastructure Leasing & Financial Services Ltd. FITCH AAA 0.30India Infradebt Ltd. CRISIL AAA 0.29HDB Financial Services Ltd. CARE AAA 0.12Non-convertible Debentures Total 83.89Corporate Debt Total 83.89Money Market Instruments Certificate of Deposit Canara Bank CRISIL A1+ 4.28UCO Bank CRISIL A1+ 1.48Certificate of Deposit Total 5.76Money Market Bonds IDFC Ltd. ICRA AAA 0.29National Bank for Agriculture & Rural Development CRISIL AAA 0.05Money Market Bonds Total 0.34Money Market Instruments Total 6.10Cash & Other Receivables Net Receivables/(Payables) 7.31CBLO / Repo 2.70Cash & Other Receivables Total 10.01Grand Total 100.00

Modified Average Yield to Total expense ratio duration maturity maturity (YTM)# (year-to-date ratio to average AUM) In days Regular Plan Direct Plan 1.42 748 9.05% 1.13%~ 0.63%~

JPMorgan India Short Term Income Fund



27-Jan-15 0.09755650 10.2391

25-Feb-15 0.07089528 10.2124

25-Mar-15 0.05763301 10.1991

Regular Plan Dividend Option

21-Jan-13 0.13000000 10.2992

Regular Plan Monthly Dividend Option

25-Feb-15 0.06681484 10.2168

25-Mar-15 0.05391070 10.2039

27-Apr-15 0.08941172 10.2394


Name of the scheme

JPMorgan India Short Term Income Fund

Allotment date

Regular Plan - 25 March 2010


Scheme structure

An open ended income scheme


The investment objective is to generate income by

investing primarily in money market and short

term debt instruments. However, there can be no

assurance that income can be generated, regular

or otherwise or that the investment objective of the

Scheme will be realised.


Rs 5,000 per application and in multiples of Re 1

thereafter.


Rs 1,000 per application and in multiples of Re 1

thereafter.

Fund managers



Namdev Chougule 13

Ravi Ratanpal 10


Namdev Chougule 5 years


Entry load - Nil

Exit load - Nil (w.e.f. Feb. 1, 2015)

Benchmark

CRISIL Short-Term Bond Fund Index






Regular Plan - Fortnightly Dividend Option 10.1869


Regular Plan - Monthly Dividend Option 10.1500

Regular Plan - Weekly Dividend Option 10.1508





Rating profile

77.34%

10.58%


60

50

40

30

20

10

0


CorporateDebt

18.61%

10.58%

23.24%

Certificate ofDeposit

Cash &Other

Receivables

12.08%

CARE AA,CRISIL A1+,CRISIL AA-,CRISIL AA+, CRISIL AAA, ICRA AA,ICRA AA-,ICRA AA+,ICRA AAA

This product is suitable for investors who are seeking*• Income Over Short to Medium Term• Investments primarily in money market and short term debt instruments.• Low Risk. (BLUE)

Record Date Gross Dividend CUM

Dividend NAV

20.63%

MoneyMarketBonds

GovernmentBond

12.08%

SOVEREIGN

Corporate Debt Non-convertible Debentures Bharat Aluminium Co. Ltd. CRISIL AA- 8.29Sintex Industries Ltd. CARE AA 5.41HPCL Mittal Energy Ltd. ICRA AA- 2.73Vedant Ltd CRISIL AA+ 1.34HPCL Mittal Pipelines Ltd. ICRA AA- 0.40Power Grid Corp. of India Ltd. CRISIL AAA 0.27The Indian Hotels Company Ltd. ICRA AA 0.17Non-Convertible Debentures Total 18.61Corporate Debt Total 18.61Money Market Instruments Certificate of Deposit Axis Bank Ltd. CRISIL A1+ 13.21IDBI Bank Ltd. CRISIL A1+ 10.03Certificate of Deposit Total 23.24Commercial Paper Edelweiss Financial Services Ltd. CRISIL A1+ 7.43ECL Finance Ltd. CRISIL A1+ 7.43Commercial Paper Total 14.86Money Market Bonds Amtek Auto Ltd. CARE AA 17.61NABARD CRISIL AAA 1.55Power Finance Corporation Ltd. CRISIL AAA 0.91HDB Financial Services Ltd. CRISIL AAA 0.40Fullerton India Credit Co. Ltd. ICRA AA+ 0.13Indian Oil Corporation Ltd. ICRA AAA 0.03Money Market Bonds Total 20.63Money Market Instruments Total 58.73Government Bond And Treasury Bill Government Bond Government of India SOVEREIGN 10.58Government Bond Total 10.58Government Bond And Treasury Bill Total 10.58Cash & Other Receivables CBLO / Repo 10.65Net Receivables/(Payables) 1.43Cash & Other Receivables Total 12.08Grand Total 100.00

#Gross yield. ~Does not include Service Tax on Investment Management fees.

14.86%

CommercialPaper

JPMorgan India Banking and PSU Debt Fund

Name of the schemeJPMorgan India Banking and PSU Debt FundAllotment date13 September 2013Scheme structureAn open ended income schemeInvestment objectiveThe investment objective of the Scheme is to seek to generate income by investing predominantly in a portfolio of Debt Securities and Money Market Instruments issued by banks and PSUs. However, there can be no assurance that the investment objective of the scheme will be realized or that income will be generated.For all PlansMinimum investment amountRs 5,000 per application and in multiples of Re 1 thereafter.Additional investment amountRs 1,000 per application and in multiples of Re 1 thereafter.Fund managersNamdev Chougule & Ravi RatanpalTotal experience (in years)Namdev Chougule 13Ravi Ratanpal 10Experience in managing this schemeNamdev Chougule 1 year, 8 monthsRavi Ratanpal 1 year, 8 monthsEntry load - NilExit loadWithin one year from the date of allotment in respect of Purchase made other than through SIP; if redeemed within one year from the date of allotment in respect of each Purchase made through SIP : 1.50%

After one year but within two years from the date of allotment in respect of Purchase made other than through SIP; If redeemed after one year but within two years from the date of allotment in respect of each Purchase made through SIP: 1.00%

After two years but within three years from the date of allotment in respect of Purchase made other than through SIP; If redeemed after two years but within three years from the date of allotment in respect of each Purchase made through SIP: 0.50%

After three years from the date of allotment in respect of Purchase made other than through SIP; If redeemed after three years from the date of allotment in respect of each Purchase made through SIP: NilBenchmarkCRISIL Short Term Bond Fund IndexNAV (as at 30 April 2015, in Rs.)Direct Plan - Growth Option 11.7931






Regular Plan - Monthly Dividend Option 10.3182Past performance may or may not be sustained in future.Average AUM (April 2015)Rs. 424.33 crore




Rating profile

92.95%

7.05%


Modified Average Yield to Total expense ratio duration maturity maturity (YTM)# (year-to-date ratio to average AUM)

100

90

80

70

60

50

40

30

20

10

0


CorporateDebt

91.79%


7.05%

CRISIL AA+,CRISIL AAA,ICRA AAA

This product is suitable for investors who are seeking*• Income Over Short to Medium Term• Investments in debt securities and money market instruments issued by Banks and PSUs.• Medium Risk (YELLOW)



25-Feb-15 0.05790261 10.4014

25-Mar-15 0.04566731 10.3892

27-Apr-15 0.10464235 10.4481


25-Feb-15 0.05536659 10.3853

25-Mar-15 0.04321959 10.3731

27-Apr-15 0.10167604 10.4316



Dividend NAV

Corporate Debt


NABARD CRISIL AAA 16.79

Power Finance Corporation Ltd. CRISIL AAA 15.43

Kotak Mahindra Prime Ltd. CRISIL AAA 11.29

Power Grid Corp. of India Ltd. CRISIL AAA 10.42

Export Import Bank of India CRISIL AAA 8.30

IDBI Bank Ltd. CRISIL AA+ 8.17

Rural Electrification Corp. Ltd. CRISIL AAA 7.25

Hindustan Petroleum Corp Ltd. CRISIL AAA 5.91

Power Grid Corp. of India Ltd. ICRA AAA 1.19

Power Finance Corporation Ltd. ICRA AAA 1.19

HDB Financial Services Ltd. CRISIL AAA 1.18

Indian Railway Finance Corp. Ltd. CRISIL AAA 1.18

Airports Authority of India Ltd. ICRA AAA 1.17

Bank of Baroda CRISIL AAA 1.17

Housing & Urban Dev. Corp Ltd. CRISIL AA+ 1.15



Money Market Instruments

Money Market Bonds

NHPC Ltd. ICRA AAA 1.16

Money Market Bonds Total 1.16




CBLO / Repo 1.54


Grand Total 100.00

In days Regular Plan Direct Plan 1.67 894 8.33% 0.55%~ 0.25%~

Money MarketBonds

1.16%

JPMorgan India Government Securities Fund

Name of the schemeJPMorgan India Government Securities FundAllotment date13 February 2014Scheme structureAn open ended gilt schemeInvestment objectiveThe investment objective of the Scheme is to generate income through investment in Securities of various maturities issued and/or created by the Central Government and State Governments of India. However, there can be no assurance that the investment objectives of the Scheme will be realized.

For all PlansMinimum investment amountRs 5,000 per application and in multiples of Re 1 thereafter.Additional investment amountRs 1,000 per application and in multiples of Re 1 thereafter.Fund managersNamdev Chougule & Ravi RatanpalTotal experience (in years)Namdev Chougule 13Ravi Ratanpal 10Experience in managing this schemeNamdev Chougule 1 yr, 3 monthsRavi Ratanpal 1 yr, 3 monthsEntry load - NilExit load - Nil (w.e.f. 12 February 2015)BenchmarkI-Sec Mi-BEXNAV (as at 30 April 2015, in Rs.)Direct Plan - Growth Option 11.7683


Regular Plan - Annual Dividend Option 11.7179




Regular Plan - Weekly Dividend Option 10.3960Past performance may or may not be sustained in future.Average AUM (April 2015)Rs. 800.86 crore




Government Bond And Treasury Bill

Government Bond

Government of India SOVEREIGN 94.12

Government Bond Total 94.12

Government Bond And Treasury Bill Total 94.12



CBLO / Repo 0.35


Grand Total 100.00

Rating profile

94.12%



100

90

80

70

60

50

40

30

20

10

0



5.88%

This product is suitable for investors who are seeking*• Credit risk free returns over Medium to Long Term• Investment in Government Securities• Low Risk. (BLUE)



27-Oct-14 0.04566627 10.0957

25-Nov-14 0.60245043 10.6525

27-Apr-15 0.16416858 10.6656



Dividend NAV


5.88%

SOVEREIGN

GovernmentBond

94.12%

JPMorgan India Corporate Debt Opportunities Fund

Name of the schemeJPMorgan India Corporate Debt Opportunities FundAllotment date22 September 2014Scheme structureAn open income schemeInvestment objectiveThe investment objective is to generate regular income and opportunities for capital appreciation while maintaining liquidity through active management of a diversified portfolio comprising of corporate bonds and securities across the investment grade credit rating and maturity spectrum. However, there can be no assurance that the investment objectives of the Scheme will be realized.

For all PlansMinimum investment amountRs 5,000 per application and in multiples of Re 1 thereafter.Additional investment amountRs 1,000 per application and in multiples of Re 1 thereafter.Fund managersNamdev Chougule & Ravi RatanpalTotal experience (in years)Namdev Chougule 13Ravi Ratanpal 10Experience in managing this schemeNamdev Chougule 8 monthsRavi Ratanpal 8 monthsEntry load - NilExit load - If redeemed within 18 months from the date of allotment in respect of purchase made other than through SIP; and if redeemed within 18 months from the date of allotment of units of each installment of SIP purchase: 1.5%.If redeemed after 18 months but within 36 months from the date of allotment in respect of purchase made other than through SIP; and if redeemed after 18 months but within 36 months from the date of allotment of units of each installment of SIP purchase: 0.50%.If redeemed after 36 months from the date of allotment in respect of purchase made other than through SIP; and if redeemed after 36 months from the date of allotment of units of each installment of SIP purchase: Nil.BenchmarkCRISIL Short Term Bond Fund IndexNAV (as at 30 April 2015, in Rs.)Direct Plan - Bonus Option 10.8184



Regular Plan - Annual Dividend Option 10.7907





Regular Plan - Weekly Dividend Option 10.5485Past performance may or may not be sustained in future.Average AUM (April 2015)Rs. 178.62 crore




Corporate Debt


Sintex Industries Ltd. CARE AA 14.20

Welspun Corp Ltd. CARE AA- 13.53

HPCL Mittal Energy Ltd. ICRA AA- 11.38

JK Cement Ltd. BRICKWORKS AA- 10.71

HPCL Mittal Pipelines Ltd. ICRA AA- 9.26

Dalmia Cements (bharat) Limited Icra Aa- 8.04

Nirma Ltd. CRISIL AA 7.94

Fullerton India Credit Co. Ltd. ICRA AA+ 5.61

The Indian Hotels Company Ltd. ICRA AA 4.20

Shriram Transport Finance Co. Ltd. CRISIL AA 2.83

Cholamandalam Inv. & Fin. Co. Ltd. ICRA AA 2.70

Tata Power Company Ltd. CARE AA 1.88





CBLO / Repo 3.79


Grand Total 100.00


100

90

80

70

60

50

40

30

20

10

0



7.72%

This product is suitable for investors who are seeking*• Regular income & capital appreciation through active management across time frames.• Investment in corporate bonds and securities across the investment grade credit rating

and maturity spectrum.• Medium Risk (YELLOW)


Rating profile

92.28%

7.72%


BRICKWORKS AA-,CARE AA,CARE AA-,CRISIL AA, ICRA AA,ICRA AA-,ICRA AA+

Corporate DebtTotal

92.28%



27-Apr-15 0.32502857 10.7971



Date NAV per unit as on the first day Scheme Benchmark Additional of the period mentioned (Rs.) Returns (%)^ Returns#(%) Benchmark Returns(%)## 31/03/2014 To 31/03/2015 (Absolute) 10.805 84.22 50.96 24.89

Scheme Returns

JPMorgan India Equity Fund - Regular Plan Growth Option Returns as on 31 March 2015

Date NAV per unit as on the first day Scheme Benchmark Additional of the period mentioned (Rs.) Returns (%)^ Returns#(%) Benchmark Returns(%)##Since Inception - CAGR 10.000 11.29 9.60 9.0731/03/2014 To 31/03/2015 (Absolute) 15.961 44.35 31.93 24.8928/03/2013 To 31/03/2014 (Absolute) 13.328 19.76 17.19 18.8530/03/2012 To 28/03/2013 (Absolute) 12.621 5.60 6.03 8.23

NAV as on March 31, 2015 Rs. 23.039

Current value of Standard Investment of Rs. 10,000 (in Rs.)invested since inception in the

Scheme Benchmark Additional (Rs) (Rs)# Benchmark## 23,039 20,454 19,683

Fund Managers:

Harshad Patwardhan• JPMorgan India Equity Fund• JPMorgan India Mid and Small Cap Fund• JPMorgan India Tax Advantage Fund• JPMorgan India Top 100 Fund

Namdev Chougule• JPMorgan India Liquid Fund• JPMorgan India Treasury Fund• JPMorgan India Active Bond Fund• JPMorgan India Short Term Income Fund• JPMorgan Greater China Equity Offshore

Fund• JPMorgan Emerging Europe, Middle East

and Africa Equity Off-shore Fund• JPMorgan ASEAN Equity Off-shore Fund• JPMorgan India Fixed Maturity Plans• JPMorgan India Income Fund Series 301,

501• JPMorgan India Hybrid Fund Series 1 & 2• JPMorgan US Value Equity Off-shore Fund• JPMorgan India Banking & PSU Debt Fund• JPMorgan India Government Securities

Fund• JPMorgan India Corporate Debt

Opportunities Fund• JPMorgan Emerging Markets

Opportunities Equity Off-shore Fund• JPMorgan India Equity Income Fund

Amit Gadgil• JPMorgan India Equity Fund• JPMorgan India Mid and Small Cap Fund• JPMorgan India Hybrid Fund Series 1 & 2• JPMorgan India Top 100 Fund• JPMorgan India Equity Income Fund

Ravi Ratanpal• JPMorgan India Liquid Fund• JPMorgan India Treasury Fund• JPMorgan India Active Bond Fund• JPMorgan India Short Term Income Fund• JPMorgan India Fixed Maturity Plans• JPMorgan India Income Fund Series 301,

501• JPMorgan India Hybrid Fund Series 1 & 2• JPMorgan India Corporate Debt

Opportunities Fund• JPMorgan India Equity Income Fund

Karan Sikka• JPMorgan India Tax Advantage Fund• JPMorgan India Hybrid Fund Series 1 & 2• JPMorgan India Equity Income Fund

NOTES1. The returns for close ended schemes have not

been disclosed as these are not comparable with other schemes.

2. Returns of only those schemes that have completed one year has been given.

JPMorgan India Equity Fund - Direct Plan Growth Option Returns as on 31 March 2015

Date NAV per unit as on the first day Scheme Benchmark Additional of the period mentioned (Rs.) Returns (%)^ Returns#(%) Benchmark Returns(%)##31/03/2014 To 31/03/2015 (Absolute) 16.151 46.59 31.93 24.89


JPMorgan India Mid and Small Cap Fund-Regular Plan Growth Option Returns as on 31 March 2015

Date NAV per unit as on the first day Scheme Benchmark Additional of the period mentioned (Rs.) Returns (%)^ Returns#(%) Benchmark Returns(%)##Since Inception - CAGR 10.000 9.54 5.37 4.5831/03/2014 To 31/03/2015 (Absolute) 10.677 81.61 50.96 24.8928/03/2013 To 31/03/2014 (Absolute) 8.312 28.45 16.36 18.8530/03/2012 To 28/03/2013 (Absolute) 7.572 9.77 -4.02 8.23




JPMorgan India Mid and Small Cap Fund - Direct Plan Growth Option Returns as on 31 March 2015


JPMorgan India Tax Advantage Fund - Regular Plan Growth Option Returns as on 31 March 2015





JPMorgan India Tax Advantage Fund - Direct Plan Growth Option Returns as on 31 March 2015



^ Past performance may or may not be sustained in the future

#S&P BSE 200 ##S&P BSE SENSEX


#CNX MIDCAP ##S&P BSE SENSEX

#CNX MIDCAP ##S&P BSE SENSEX




Scheme (Rs) Benchmark (Rs) # 19,825 20,031

JPMorgan Greater China Equity Off-Shore Fund - Regular Plan Growth Option

NAV as on March 31, 2015 Rs. 19.825Date NAV per unit as on the first day Scheme Benchmark of the period mentioned (Rs.) Returns (%)^ Returns# (%)Since Inception - CAGR 10.000 13.00 13.2131/03/2014 To 31/03/2015 (Absolute) 16.540 19.86 23.5028/03/2013 To 31/03/2014 (Absolute) 13.968 18.41 16.3630/03/2012 To 28/03/2013 (Absolute) 11.846 17.91 14.45

#MSCI Golden Dragon Index

Returns as on 31 March 2015

^Past performance may or may not be sustained in the future

JPMorgan ASEAN Equity Off-shore Fund - Regular Plan Growth Option Returns as on 31 March 2015

NAV as on March 31, 2015 Rs. 16.461Date NAV per unit as on the first day Scheme Benchmark of the period mentioned (Rs.) Returns (%)^ Returns# (%)Since Inception - CAGR 10.000 14.20 12.3631/03/2014 To 31/03/2015 (Absolute) 15.390 6.96 6.4628/03/2013 To 31/03/2014 (Absolute) 15.291 0.65 4.1430/03/2012 To 28/03/2013 (Absolute) 11.655 31.20 21.79

#Morgan Stanley Capital International (MSCI) South East Asia Index

Scheme (Rs) Benchmark (Rs)# 16,461 15,489


JPMorgan US Value Equity Off-shore Fund-Regular Plan Growth Option Returns as on 31 March 2015

NAV as on March 31, 2015 Rs. 12.1721Date NAV per unit as on the first day Scheme Benchmark of the period mentioned (Rs.) Returns (%)^ Returns# (%)31/03/2014 To 31/03/2015 (Absolute) 10.6534 14.26 13.07

#Russell 1000 Value Index

Fund Managers:

















Scheme Returns

JPMorgan Greater China Equity Off-Shore Fund - Direct Plan Growth Option Returns as on 31 March 2015


#MSCI Golden Dragon Index

JPMorgan ASEAN Equity Off-shore Fund - Direct Plan Growth Option Returns as on 31 March 2015


#Morgan Stanley Capital International (MSCI) South East Asia Index

JPMorgan US Value Equity Off-shore Fund-Direct Plan Growth Option Returns as on 31 March 2015


#Russell 1000 Value Index

JPMorgan India Liquid Fund - Retail Plan Growth Option Returns as on 31 March 2015

Date NAV per unit as on the first day Scheme Benchmark Additional of the period mentioned (Rs.) Returns (%)^ Returns#(%) Benchmark Returns(%)##Since Inception - CAGR 10.0000 7.95 7.65 6.457 days 16.4611 9.25 13.63 17.1715 days 16.4307 8.83 10.39 14.7130 days 16.3678 8.54 9.51 11.1928/03/2014 To 31/03/2015 (Absolute) 15.1532 8.82 9.06 8.8228/03/2013 To 28/03/2014 (Absolute) 13.8935 9.07 9.46 5.7730/03/2012 To 28/03/2013 (Absolute) 12.7316 9.13 8.17 8.33

NAV as on March 31, 2015 Rs. 16.4903


Scheme Benchmark # Additional (Rs) (Rs) Benchmark## 16,490 16,196 15,054

#CRISIL Liquid Fund Index ##CRISIL 1 Year T-Bill Index

JPMorgan India Liquid Fund - Super Institutional Plan Growth Option Returns as on 31 March 2015

Date NAV per unit as on the first day Scheme Benchmark Additional of the period mentioned (Rs.) Returns (%)^ Returns#(%) Benchmark Returns(%)##Since Inception - CAGR 10.0000 8.20 7.61 6.227 days 18.0746 9.35 13.63 17.1715 days 18.0408 8.93 10.39 14.7130 days 17.9705 8.66 9.51 11.1928/03/2014 To 31/03/2015 (Absolute) 16.6070 9.03 9.06 8.8228/03/2013 To 28/03/2014 (Absolute) 15.1963 9.28 9.46 5.7730/03/2012 To 28/03/2013 (Absolute) 13.8988 9.34 8.17 8.33

NAV as on March 31, 2015 Rs. 18.1070


Scheme Benchmark # Additional (Rs) (Rs) Benchmark ## 18,107 17,378 15,754


^ Past performance may or may not be sustained in the future

JPMorgan India Treasury Fund - Retail Plan Growth Option Returns as on 31 March 2015


NAV as on March 31, 2015 Rs. 16.4561




Fund Managers:

















Scheme Returns

JPMorgan India Liquid Fund - Direct Plan Growth Option Returns as on 31 March 2015

Date NAV per unit as on the first day Scheme Benchmark Additional of the period mentioned (Rs.) Returns (%)^ Returns#(%) Benchmark Returns(%)##7 days 18.1268 9.38 13.63 17.1715 days 18.0929 8.94 10.39 14.7130 days 18.0213 8.74 9.51 11.1928/03/2014 To 31/03/2015 (Absolute) 16.6310 9.19 9.06 8.8228/03/2013 To 28/03/2014 (Absolute) 15.2000 9.41 9.46 5.77

NAV as on March 31, 2015 Rs. 18.1594


JPMorgan India Treasury Fund - Super Institutional Plan Growth Option Returns as on 31 March 2015


NAV as on March 31, 2015 Rs. 18.3624




JPMorgan India Treasury Fund - Direct Plan Growth Option Returns as on 31 March 2015

Date NAV per unit as on the first day Scheme Benchmark Additional of the period mentioned (Rs.) Returns (%)^ Returns#(%) Benchmark Returns(%)##28/03/2014 To 31/03/2015 (Absolute) 16.8253 9.50 9.06 8.8228/03/2013 To 28/03/2014 (Absolute) 15.3772 9.42 9.46 5.77

NAV as on March 31, 2015 Rs. 18.4233


JPMorgan India Short Term Income Fund - Regular Plan Growth Option



NAV as on March 31, 2015 Rs. 15.3246



#CRISIL Short-Term Bond Fund Index ##CRISIL 1 Year T-Bill Index

JPMorgan India Short Term Income Fund - Direct Plan Growth Option

Date NAV per unit as on the first day Scheme Benchmark Additional of the period mentioned (Rs.) Returns (%)^ Returns#(%) Benchmark Returns(%)##28/03/2014 To 31/03/2015 (Absolute) 13.9786 10.82 10.40 8.8228/03/2013 To 28/03/2014 (Absolute) 12.8108 9.12 8.78 5.77


NAV as on March 31, 2015 Rs. 15.4917


Fund Managers:

















JPMorgan India Active Bond Fund - Retail Plan Growth Option Returns as on 31 March 2015

Date NAV per unit as on the first day Scheme Benchmark Additional of the period mentioned (Rs.) Returns (%)^ Returns#(%) Benchmark Returns(%)##Since Inception - CAGR 10.0000 6.37 8.08 7.1728/03/2014 To 31/03/2015 (Absolute) 13.4369 13.03 14.67 14.6328/03/2013 To 28/03/2014 (Absolute) 12.9271 3.94 4.32 -1.0130/03/2012 To 28/03/2013 (Absolute) 11.9071 8.57 9.24 11.25

NAV as on March 31, 2015 Rs. 15.1877



#CRISIL Composite Bond Fund Index ##CRISIL 10 Year Gilt Index

Scheme Returns

JPMorgan India Active Bond Fund - Institutional Plan Growth Option Returns as on 31 March 2015

NAV as on March 31, 2015 Rs. 12.7048Date NAV per unit as on the first day Scheme Benchmark Additional of the period mentioned (Rs.) Returns (%)^ Returns#(%) Benchmark Returns(%)##28/03/2014 To 31/03/2015 (Absolute) 11.1143 14.31 14.67 14.6328/03/2013 To 28/03/2014 (Absolute) 10.6162 4.69 4.32 -1.01




JPMorgan India Active Bond Fund - Direct Plan Growth Option Returns as on 31 March 2015

Date NAV per unit as on the first day Scheme Benchmark Additional of the period mentioned (Rs.) Returns (%)^ Returns#(%) Benchmark Returns(%)##28/03/2014 To 31/03/2015 (Absolute) 13.5729 14.34 14.67 14.6328/03/2013 To 28/03/2014 (Absolute) 12.9505 4.81 4.32 -1.01

NAV as on March 31, 2015 Rs. 15.5196


JPMorgan India Banking and PSU Debt Fund-Regular Plan Growth Option Returns as on 31 March 2015


NAV as on March 31, 2015 Rs. 11.6729


JPMorgan India Banking and PSU Debt Fund-Direct Plan Growth Option Returns as on 31 March 2015


NAV as on March 31, 2015 Rs. 11.7257


JPMorgan Europe Dynamic Equity Off-shore Fund-Regular Plan Growth Option Returns as on 31 March 2015

Date NAV per unit as on the first day Scheme Benchmark of the period mentioned (Rs.) Returns (%)^ Returns#(%) 31/03/2014 To 31/03/2015 (Absolute) 10.2361 -3.28 23.77


#MSCI Europe Index

JPMorgan Europe Dynamic Equity Off-shore Fund-Direct Plan Growth Option Returns as on 31 March 2015

Date NAV per unit as on the first day Scheme Benchmark of the period mentioned (Rs.) Returns (%)^ Returns#(%) 31/03/2014 To 31/03/2015 (Absolute) 10.2459 -2.40 23.77

NAV as on March 31, 2015 Rs. 10.0002

#MSCI Europe Index

JPMorgan India Govt Securities Fund-Regular Plan Growth Option Returns as on 31 March 2015


NAV as on March 31, 2015 Rs. 11.7590

#I-Sec Mi-BEX ##CRISIL 10 Year Gilt Index

JPMorgan India Govt Securities Fund-Direct Plan Growth Option Returns as on 31 March 2015


NAV as on March 31, 2015 Rs. 11.8089

#I-Sec Mi-BEX ##CRISIL 10 Year Gilt Index^ Past performance may or may not be sustained in the future

#S&P BSE 200 - “The S&P BSE 200 is a product of AIPL, which is a joint venture of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and

BSE, and has been licensed for use by JPMorgan Asset Management India Private Limited. Standard & Poor’s and S&P are registered

trademarks of Standard & Poor’s Financial Services LLC(“S&P”); BSE is a registered trademark of BSE Limited (“BSE”); Dow Jones is a

registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by AIPL and

sublicensed for certain purposes by JPMorgan Asset Management India Private Limited. Asia Index Private Limited 2014. All rights

reserved. Redistribution, reproduction and/or photocopying in whole or in part are prohibited without written permission of AIPL. For

more information on any of AIPL’s indices please visit http://www.asiaindex.com/. None of AIPL, BSE, Dow Jones Trademark Holdings LLC,

their affiliates nor their third party licensors make any representation or warranty, express or implied, as to the ability of any index to

accurately represent the asset class or market sector that it purports to represent and none of AIPL, BSE, S&P Dow Jones Indices LLC, Dow

Jones Trademark Holdings LLC or their affiliates nor their third party licensors shall have any errors, omissions, or interruptions of any

index or the data included therein.”

##S&P BSE 100 - “The S&P BSE 100 is a product of AIPL, which is a joint venture of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and

BSE, and has been licensed for use by JPMorgan Asset Management India Private Limited. Standard & Poor’s and S&P are registered

trademarks of Standard & Poor’s Financial Services LLC(“S&P”); BSE is a registered trademark of BSE Limited (“BSE”); Dow Jones is a

registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by AIPL and

sublicensed for certain purposes by JPMorgan Asset Management India Private Limited. Asia Index Private Limited 2014. All rights

reserved. Redistribution, reproduction and/or photocopying in whole or in part are prohibited without written permission of AIPL. For

more information on any of AIPL’s indices please visit http://www.asiaindex.com/. None of AIPL, BSE, Dow Jones Trademark Holdings LLC,

their affiliates nor their third party licensors make any representation or warranty, express or implied, as to the ability of any index to

accurately represent the asset class or market sector that it purports to represent and none of AIPL, BSE, S&P Dow Jones Indices LLC, Dow

Jones Trademark Holdings LLC or their affiliates nor their third party licensors shall have any errors, omissions, or interruptions of any

index or the data included therein.”

###“The JPMorgan India Mid and Small Cap Fund (“Product”) is not sponsored, endorsed, sold or promoted by India Index Services &

Products Limited (IISL). IISL makes no representation or warranty, express or implied to the owners of the Product or any member of the

public regarding the advisability of investing in securities generally or in the Product particularly or the ability of the CNX Midcap Index to

track general stock market performance in India. The relationship of IISL to the JPMorgan Asset Management India Pvt. Ltd. is in respect

of the using of the trade name and the trade name of CNX Midcap Index for benchmarking purposes, which is determined, composed and

calculated by IISL without regard to the JPMorgan Asset Management India Pvt. Ltd or the Product. IISL has no obligation to take the

needs of JPMorgan Asset Management India Pvt. Ltd. or the owners of the Product into consideration in determining, composing or

calculating the CNX Midcap Index. IISL is not responsible for nor has participated in the determination of the timing of, prices at, or

quantities of the Product to be issued or in determination or calculation of the equation by which the product is to be converted into cash.

IISL has no obligation or liability in connection with the administration, marketing or trading of the Product.” “IISL does not guarantee the

accuracy and/or the completeness of the CNX Midcap Index or any data included therein and they shall have no liability for any errors,

omissions, or interruptions therein. IISL makes no warranty, express or implied, as to the results to be obtained by the Principal JPMorgan

Asset Management India Pvt. Ltd., owners of the Product, or any other persons or entities from the use of the CNX Midcap Index or any

data included therein. IISL makes no express or implied warranties and expressly disclaims all warranties of merchantability or fitness for

a particular purpose or use with respect to the CNX Midcap Index or any data included therein. Without limiting any of the foregoing, in no

event shall IISL have any liability for any special, punitive, indirect or consequential damages (including lost profits), even if notified of the

possibility of such damages”. The calculation of returns assume that all payouts during the period have been reinvested in the units

of the scheme at the then prevailing NAV. Distribution taxes are not considered.

Opinions and estimates offered constitute our judgment and are subject to change without notice, as are statements of financial market

trends, which are based on current market conditions. We believe the information provided here is reliable, but do not warrant its

accuracy or completeness. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The

views and strategies described may not be suitable for all investors. This material has been prepared for informational purposes only, and

is not intended to provide, and should not be relied on for accounting, legal or tax advice. References to future returns are not promises or

even estimates of actual returns a client portfolio may achieve.

The views expressed are those of J.P. Morgan Asset Management. They are subject to change at any time. These views do not necessarily

reflect the opinions of any other firm. J.P. Morgan Asset Management is the brand for the asset management business of JPMorgan Chase

& Co. and its affiliates worldwide. Past performance may or may not be sustained in future. JPMorgan Asset Management India Pvt. Ltd.

offers only the units of the schemes under JPMorgan Mutual Fund, a mutual fund registered with SEBI.

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FUND FACTS - edelweissmf.com - April 2015.pdf · judice nature of the case and the fact that tax treaties will prevail and there will ... Voltas Ltd. 1.00 ... Portfolio analysis: