JPMORGAN TRUST I
270 PARK AVENUE
NEW YORK, NEW YORK 10017
October 10, 2013
VIA EDGAR
Securities and Exchange Commission
100 F Street, N.E.
Washington, DC 20549
Attention: Filing Desk
| RE: | JPMorgan Trust I (the “Trust”), on behalf of the |
| Highbridge Statistical Market Neutral Fund (the “Fund”) |
| File Nos. 333-103022 and 811-21295 |
Ladies and Gentlemen:
On behalf of the Trust, we hereby submit for filing pursuant to Rule 497 under the Securities Act of 1933 and under the Investment Company Act of 1940, exhibits containing interactive data format risk/return summary information for the Fund. These exhibits contain the risk/return summary information in the prospectuses for the Funds dated February 28, 2013, as supplemented. The purpose of this filing is to submit the XBRL information from the Rule 497 filing dated September 27, 2013 for the Fund.
Please contact the undersigned at 212-648-2085 if you have any questions concerning this filing.
Very truly yours,
/s/ John T. Fitzgerald
John T. Fitzgerald
Assistant Secretary
cc: Vincent Di Stefano
Exhibit Index
| Exhibit Number |
Description | |
| EX-101.INS | XBRL Instance Document | |
| EX-101.SCH | XBRL Taxonomy Extension Schema Document | |
| EX-101.CAL | XBRL Taxonomy Extension Calculation Linkbase | |
| EX-101.DEF | XBRL Taxonomy Extension Definition Linkbase | |
| EX-101.LAB | XBRL Taxonomy Extension Labels Linkbase | |
| EX-101.PRE | XBRL Taxonomy Extension Presentation Linkbase | |
| Label | Element | Value |
|---|---|---|
| Risk/Return: | rr_RiskReturnAbstract | |
| Registrant Name | dei_EntityRegistrantName | JPMorgan Trust I |
| Prospectus Date | rr_ProspectusDate | Feb. 28, 2013 |
| Document Creation Date | dei_DocumentCreationDate | Sep. 27, 2013 |
| Label | Element | Value | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Risk/Return: | rr_RiskReturnAbstract | |||||||||||||
| Registrant Name | dei_EntityRegistrantName | JPMorgan Trust I | ||||||||||||
| Prospectus Date | rr_ProspectusDate | Feb. 28, 2013 | ||||||||||||
| Supplement [Text Block] | jpmt_SupplementTextBlock | JPMORGAN SPECIALTY FUNDS Highbridge Statistical Market Neutral Fund (All Share Classes) (a series of JPMorgan Trust I) Supplement dated September 27, 2013 to the Prospectus, Summary Prospectus and Statement of Additional Information dated February 28, 2013, as supplemented The Board of Trustees of JPMorgan Trust I (the “Trust”) has approved changes to the name, investment objective, investment strategies, investment advisory fee, the investment sub-adviser and management team of the Highbridge Statistical Market Neutral Fund (the “Fund”), as set forth below. On or about December 6, 2013 (the “Effective Date”), these changes will become effective. Change to Name. The name of the Fund will change to the “JPMorgan Market Neutral Fund.” Change to Investment Objective. The section titled “Investment Objective” is hereby deleted and will be replaced by the following: The Fund seeks to provide long-term capital appreciation from a broadly diversified portfolio of U.S. stocks while neutralizing the general risks associated with stock market investing. Changes to Investment Strategies. In addition, the section titled “What are the Fund’s main investment strategies?” is hereby deleted in its entirety and will be replaced by the following: The Fund takes long and short positions in different securities, selecting from a universe of mid- to large-capitalization stocks with characteristics similar to those of the Russell 1000 and/or Standard & Poor’s 500 (S&P 500) Indexes, in an effort to insulate the Fund’s performance from the effects of general stock market movements. As of June 30, 2013, the companies in the Russell 1000 Index included companies with market capitalizations ranging from $487 million to $401 billion. As of June 30, 2013, the companies in the S&P 500 Index included companies with market capitalizations of $1.9 billion to $401 billion. In rising markets, the Fund expects that the long positions will appreciate more rapidly than the short positions, and in declining markets that the short positions will decline faster than the long positions. The Fund expects that this difference in rates of appreciation, along with any returns on cash generated by short sales, will generate a positive return; the Fund pursues returns exceeding those of 90-day U.S. Treasury Bills. The Fund purchases securities that it believes are undervalued and sells short securities that it believes are overvalued. While the Fund will generally not be, on an aggregate basis, significantly weighted towards long or short positions at any time, it may be exposed to net long or short positions in one or more individual market sectors. In attempting to neutralize market and sector risks, the Fund emphasizes stock selection as the primary means of generating returns. Derivatives, which are instruments that have a value based on another instrument, exchange rate or index, may be used as substitutes for securities in which the Fund can invest. The Fund may use futures contracts to more effectively gain targeted equity exposure from its cash positions. Investment Process: In managing the Fund the adviser employs a three-step process that combines research, valuation and stock selection. The research findings allow the adviser to rank the companies according to their relative value. The greater a company’s estimated worth compared to the current market price of its stock, the more undervalued the company. The valuation rankings are produced with the help of a variety of models that quantify the research team’s findings. The Fund buys and sells securities using the research and valuation rankings as a basis. In general, the team selects securities that are identified as undervalued and considers selling them when they appear overvalued. Along with attractive valuation, the team often considers a number of other criteria:
Changes to the Fund’s Investment Risks. In addition, the section titled “Quantitative Trading Strategies Risk” is hereby removed from “The Fund’s Main Investment Risks” section in its entirety. In addition, the “Quantitative Trading Strategies Risk” is hereby removed from the “More About The Fund — Investment Risks” in its entirety. Changes to Advisory Fees. In addition, the advisory fee for the Fund, which is currently 1.75% will be changed to 1.25%. Additionally, as of the Effective Date, the Fund’s adviser, administrator and distributor (the “Service Providers”) have contractually agreed to waive fees and/or reimburse expenses to the extent total annual operating expenses (excluding acquired fund fees and expenses, dividend expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation and extraordinary expenses and expenses related to the Board of Trustees’ deferred compensation plan) exceed 1.50%, 2.00% and 1.25% of the average daily net assets of Class A, Class C and Select Class Shares, respectively. This contract cannot be terminated prior to 2/28/15, at which time the Service Providers will determine whether or not to renew or revise it. In addition, on the Effective Date, all references in the prospectus to Highbridge Capital Management, LLC serving as the Investment Sub-adviser to the Fund will hereby be deleted. INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE PROSPECTUS, SUMMARY PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION FOR FUTURE REFERENCE |
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|
Highbridge Statistical Market Neutral Fund
|
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| Risk/Return: | rr_RiskReturnAbstract | |||||||||||||
| Supplement [Text Block] | jpmt_SupplementTextBlock | JPMORGAN SPECIALTY FUNDS Highbridge Statistical Market Neutral Fund (All Share Classes) (a series of JPMorgan Trust I) Supplement dated September 27, 2013 to the Prospectus, Summary Prospectus and Statement of Additional Information dated February 28, 2013, as supplemented The Board of Trustees of JPMorgan Trust I (the “Trust”) has approved changes to the name, investment objective, investment strategies, investment advisory fee, the investment sub-adviser and management team of the Highbridge Statistical Market Neutral Fund (the “Fund”), as set forth below. On or about December 6, 2013 (the “Effective Date”), these changes will become effective. Change to Name. The name of the Fund will change to the “JPMorgan Market Neutral Fund.” Change to Investment Objective. The section titled “Investment Objective” is hereby deleted and will be replaced by the following: The Fund seeks to provide long-term capital appreciation from a broadly diversified portfolio of U.S. stocks while neutralizing the general risks associated with stock market investing. Changes to Investment Strategies. In addition, the section titled “What are the Fund’s main investment strategies?” is hereby deleted in its entirety and will be replaced by the following: The Fund takes long and short positions in different securities, selecting from a universe of mid- to large-capitalization stocks with characteristics similar to those of the Russell 1000 and/or Standard & Poor’s 500 (S&P 500) Indexes, in an effort to insulate the Fund’s performance from the effects of general stock market movements. As of June 30, 2013, the companies in the Russell 1000 Index included companies with market capitalizations ranging from $487 million to $401 billion. As of June 30, 2013, the companies in the S&P 500 Index included companies with market capitalizations of $1.9 billion to $401 billion. In rising markets, the Fund expects that the long positions will appreciate more rapidly than the short positions, and in declining markets that the short positions will decline faster than the long positions. The Fund expects that this difference in rates of appreciation, along with any returns on cash generated by short sales, will generate a positive return; the Fund pursues returns exceeding those of 90-day U.S. Treasury Bills. The Fund purchases securities that it believes are undervalued and sells short securities that it believes are overvalued. While the Fund will generally not be, on an aggregate basis, significantly weighted towards long or short positions at any time, it may be exposed to net long or short positions in one or more individual market sectors. In attempting to neutralize market and sector risks, the Fund emphasizes stock selection as the primary means of generating returns. Derivatives, which are instruments that have a value based on another instrument, exchange rate or index, may be used as substitutes for securities in which the Fund can invest. The Fund may use futures contracts to more effectively gain targeted equity exposure from its cash positions. Investment Process: In managing the Fund the adviser employs a three-step process that combines research, valuation and stock selection. The research findings allow the adviser to rank the companies according to their relative value. The greater a company’s estimated worth compared to the current market price of its stock, the more undervalued the company. The valuation rankings are produced with the help of a variety of models that quantify the research team’s findings. The Fund buys and sells securities using the research and valuation rankings as a basis. In general, the team selects securities that are identified as undervalued and considers selling them when they appear overvalued. Along with attractive valuation, the team often considers a number of other criteria:
Changes to the Fund’s Investment Risks. In addition, the section titled “Quantitative Trading Strategies Risk” is hereby removed from “The Fund’s Main Investment Risks” section in its entirety. In addition, the “Quantitative Trading Strategies Risk” is hereby removed from the “More About The Fund — Investment Risks” in its entirety. Changes to Advisory Fees. In addition, the advisory fee for the Fund, which is currently 1.75% will be changed to 1.25%. Additionally, as of the Effective Date, the Fund’s adviser, administrator and distributor (the “Service Providers”) have contractually agreed to waive fees and/or reimburse expenses to the extent total annual operating expenses (excluding acquired fund fees and expenses, dividend expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation and extraordinary expenses and expenses related to the Board of Trustees’ deferred compensation plan) exceed 1.50%, 2.00% and 1.25% of the average daily net assets of Class A, Class C and Select Class Shares, respectively. This contract cannot be terminated prior to 2/28/15, at which time the Service Providers will determine whether or not to renew or revise it. In addition, on the Effective Date, all references in the prospectus to Highbridge Capital Management, LLC serving as the Investment Sub-adviser to the Fund will hereby be deleted. INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE PROSPECTUS, SUMMARY PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION FOR FUTURE REFERENCE |
JPMORGAN SPECIALTY FUNDS Highbridge Statistical Market Neutral Fund (All Share Classes) (a series of JPMorgan Trust I) Supplement dated September 27, 2013 to the Prospectus, Summary Prospectus and Statement of Additional Information dated February 28, 2013, as supplemented The Board of Trustees of JPMorgan Trust I (the “Trust”) has approved changes to the name, investment objective, investment strategies, investment advisory fee, the investment sub-adviser and management team of the Highbridge Statistical Market Neutral Fund (the “Fund”), as set forth below. On or about December 6, 2013 (the “Effective Date”), these changes will become effective. Change to Name. The name of the Fund will change to the “JPMorgan Market Neutral Fund.” Change to Investment Objective. The section titled “Investment Objective” is hereby deleted and will be replaced by the following: The Fund seeks to provide long-term capital appreciation from a broadly diversified portfolio of U.S. stocks while neutralizing the general risks associated with stock market investing. Changes to Investment Strategies. In addition, the section titled “What are the Fund’s main investment strategies?” is hereby deleted in its entirety and will be replaced by the following: The Fund takes long and short positions in different securities, selecting from a universe of mid- to large-capitalization stocks with characteristics similar to those of the Russell 1000 and/or Standard & Poor’s 500 (S&P 500) Indexes, in an effort to insulate the Fund’s performance from the effects of general stock market movements. As of June 30, 2013, the companies in the Russell 1000 Index included companies with market capitalizations ranging from $487 million to $401 billion. As of June 30, 2013, the companies in the S&P 500 Index included companies with market capitalizations of $1.9 billion to $401 billion. In rising markets, the Fund expects that the long positions will appreciate more rapidly than the short positions, and in declining markets that the short positions will decline faster than the long positions. The Fund expects that this difference in rates of appreciation, along with any returns on cash generated by short sales, will generate a positive return; the Fund pursues returns exceeding those of 90-day U.S. Treasury Bills. The Fund purchases securities that it believes are undervalued and sells short securities that it believes are overvalued. While the Fund will generally not be, on an aggregate basis, significantly weighted towards long or short positions at any time, it may be exposed to net long or short positions in one or more individual market sectors. In attempting to neutralize market and sector risks, the Fund emphasizes stock selection as the primary means of generating returns. Derivatives, which are instruments that have a value based on another instrument, exchange rate or index, may be used as substitutes for securities in which the Fund can invest. The Fund may use futures contracts to more effectively gain targeted equity exposure from its cash positions. Investment Process: In managing the Fund the adviser employs a three-step process that combines research, valuation and stock selection. The research findings allow the adviser to rank the companies according to their relative value. The greater a company’s estimated worth compared to the current market price of its stock, the more undervalued the company. The valuation rankings are produced with the help of a variety of models that quantify the research team’s findings. The Fund buys and sells securities using the research and valuation rankings as a basis. In general, the team selects securities that are identified as undervalued and considers selling them when they appear overvalued. Along with attractive valuation, the team often considers a number of other criteria:
Changes to the Fund’s Investment Risks. In addition, the section titled “Quantitative Trading Strategies Risk” is hereby removed from “The Fund’s Main Investment Risks” section in its entirety. In addition, the “Quantitative Trading Strategies Risk” is hereby removed from the “More About The Fund — Investment Risks” in its entirety. Changes to Advisory Fees. In addition, the advisory fee for the Fund, which is currently 1.75% will be changed to 1.25%. Additionally, as of the Effective Date, the Fund’s adviser, administrator and distributor (the “Service Providers”) have contractually agreed to waive fees and/or reimburse expenses to the extent total annual operating expenses (excluding acquired fund fees and expenses, dividend expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation and extraordinary expenses and expenses related to the Board of Trustees’ deferred compensation plan) exceed 1.50%, 2.00% and 1.25% of the average daily net assets of Class A, Class C and Select Class Shares, respectively. This contract cannot be terminated prior to 2/28/15, at which time the Service Providers will determine whether or not to renew or revise it. In addition, on the Effective Date, all references in the prospectus to Highbridge Capital Management, LLC serving as the Investment Sub-adviser to the Fund will hereby be deleted. INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE PROSPECTUS, SUMMARY PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION FOR FUTURE REFERENCE |
|
Document and Entity Information
|
12 Months Ended |
|---|---|
|
Feb. 28, 2013
|
|
| Risk/Return: | |
| Document Type | Other |
| Document Period End Date | Oct. 31, 2012 |
| Registrant Name | JPMorgan Trust I |
| Central Index Key | 0001217286 |
| Amendment Flag | false |
| Document Creation Date | Sep. 27, 2013 |
| Document Effective Date | Sep. 27, 2013 |
| Prospectus Date | Feb. 28, 2013 |