Important Information

Investments should be made on the basis of the relevant fund prospectus and key features
document which are available from JPMorgan Asset Management. If you are in any doubt about
the suitability of any of our funds for your investment needs, please contact your independent
financial adviser.

.	The value of investments and the income from them may fall as well as rise and investors may not get back the full amount invested.

.	Past performance is not a guide to the future.

.	The level of tax benefits and liabilities will depend on individual circumstances and may change in the future.

.	An investor’s capital in a bank or building society is secure whereas in a stock market linked investment it is exposed to a degree of risk.

.	The investment objective of a fund may allow some flexibility in terms of portfolio composition.

.	Exchange rate changes may cause the value of underlying overseas investments to go down as well as up.

.	Investments in emerging markets may involve a higher degree of risk due to political and economic instability and underdeveloped markets and systems.

.	Investments in smaller companies may involve a higher degree of risk as markets are usually more sensitive to price movements.

.	Where a fund invests in non-investment grade bonds an increased risk to the capital will arise.

.	Investments in property funds are subject to specific risks arising from investment in REITs and property related securities and investors should ensure they fully understand these.

.	Total return funds do not have a capital guarantee. Performance may show periodic shortfalls against the target return and the fund will not benefit from strong equity market performance to the same extent of a fund which has no limitaton on direct equity investing

This material should not be relied on as including sufficient information to support an investment decision.

For up to date information and performance data please contact your JPMorgan Asset Management representative or your independent financial adviser. JPMorgan telephone lines are recorded and may be monitored for security and training purposes. Issued by JPMorgan Asset Management Marketing Limited which is authorised and regulated by the Financial Services Authority and is part of the JPMorgan Asset Management Marketing Group, which sells investments, life assurance and pension products. Registered in England No 288553. Registered office: 125 London Wall, London, EC2Y 5AJ.