0001217286
2018-06-01
2018-06-01
0001217286
jpmt:S000002767Member
2018-06-01
2018-06-01
2018-06-01
497
2017-12-31
JPMorgan Trust I
0001217286
false
2018-06-01
2018-06-01
<p style="margin-top:0px;margin-bottom:0px" align="center"><b>J.P. MORGAN U.S. EQUITY FUNDS </b></p> <p style="margin-top:12px;margin-bottom:0px" align="center"><b>JPMorgan Small Cap Blend Fund </b></p> <p style="margin-top:0px;margin-bottom:0px" align="center">(All Shares Classes) </p> <p style="margin-top:0px;margin-bottom:0px" align="center">(a series of JPMorgan Trust I) </p> <p style="margin-top:12px;margin-bottom:0px" align="center"><b>Supplement dated June 1, 2018 </b></p> <p style="margin-top:0px;margin-bottom:0px" align="center"><b>to the Summary Prospectuses, Prospectuses and Statement of Additional Information </b></p> <p style="margin-top:0px;margin-bottom:0px" align="center"><b>dated June 1, 2018 </b></p> <p style="margin-top:12px;margin-bottom:0px">Effective immediately, the JPMorgan Small Cap Blend Fund (the “Fund”) has begun implementing its new investment strategy as a small cap blend fund as described in the Fund’s new prospectuses dated June 1, 2018 (the “New Strategy”). As a result, the Fund has begun selling a large portion of its existing small cap growth investments as it migrates to the New Strategy. The Fund anticipates implementing the New Strategy fully by June 8, 2018 under normal market conditions. Between June 1, 2018 and June 8, 2018, the Fund’s investments may be more heavily weighted in small cap growth securities, and the Fund may be more heavily subject to the growth strategy portion of its strategy risk. </p> <p style="margin-top:6px;margin-bottom:0px">In addition, as a result of the New Strategy, the Fund will be lifting its current limited offering as of June 8, 2018. Until June 8, 2018, the following language is added to each prospectus: </p> <p style="margin-top:0px;margin-bottom:0px"> </p> <table style="border-collapse:collapse" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="2%"> </td> <td width="1%" valign="top" align="left">•</td> <td width="1%" valign="top"> </td> <td align="left" valign="top"> <div align="left">The following language is hereby added at the end of the “Class/Ticker:” in the “Risk/Return Summary” section of each prospectus: </div></td></tr></table> <p style="margin-top:4px;margin-bottom:0px; margin-left:4%">Until June 8, 2018, the Fund is publicly offered on a limited basis. </p> <p style="margin-top:0px;margin-bottom:0px"> </p><center><b>INVESTORS SHOULD RETAIN THIS SUPPLEMENT</b><br/><b>WITH THE SUMMARY PROSPECTUSES, PROSPECTUSES AND</b><br/><b>STATEMENT OF ADDITIONAL INFORMATION FOR FUTURE REFERENCE</b></center>
<p style="margin-top:0px;margin-bottom:0px" align="center"><b>J.P. MORGAN U.S. EQUITY FUNDS </b></p> <p style="margin-top:12px;margin-bottom:0px" align="center"><b>JPMorgan Small Cap Blend Fund </b></p> <p style="margin-top:0px;margin-bottom:0px" align="center">(All Shares Classes) </p> <p style="margin-top:0px;margin-bottom:0px" align="center">(a series of JPMorgan Trust I) </p> <p style="margin-top:12px;margin-bottom:0px" align="center"><b>Supplement dated June 1, 2018 </b></p> <p style="margin-top:0px;margin-bottom:0px" align="center"><b>to the Summary Prospectuses, Prospectuses and Statement of Additional Information </b></p> <p style="margin-top:0px;margin-bottom:0px" align="center"><b>dated June 1, 2018 </b></p> <p style="margin-top:12px;margin-bottom:0px">Effective immediately, the JPMorgan Small Cap Blend Fund (the “Fund”) has begun implementing its new investment strategy as a small cap blend fund as described in the Fund’s new prospectuses dated June 1, 2018 (the “New Strategy”). As a result, the Fund has begun selling a large portion of its existing small cap growth investments as it migrates to the New Strategy. The Fund anticipates implementing the New Strategy fully by June 8, 2018 under normal market conditions. Between June 1, 2018 and June 8, 2018, the Fund’s investments may be more heavily weighted in small cap growth securities, and the Fund may be more heavily subject to the growth strategy portion of its strategy risk. </p> <p style="margin-top:6px;margin-bottom:0px">In addition, as a result of the New Strategy, the Fund will be lifting its current limited offering as of June 8, 2018. Until June 8, 2018, the following language is added to each prospectus: </p> <p style="margin-top:0px;margin-bottom:0px"> </p> <table style="border-collapse:collapse" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="2%"> </td> <td width="1%" valign="top" align="left">•</td> <td width="1%" valign="top"> </td> <td align="left" valign="top"> <div align="left">The following language is hereby added at the end of the “Class/Ticker:” in the “Risk/Return Summary” section of each prospectus: </div></td></tr></table> <p style="margin-top:4px;margin-bottom:0px; margin-left:4%">Until June 8, 2018, the Fund is publicly offered on a limited basis. </p> <p style="margin-top:0px;margin-bottom:0px"> </p><center><b>INVESTORS SHOULD RETAIN THIS SUPPLEMENT</b><br/><b>WITH THE SUMMARY PROSPECTUSES, PROSPECTUSES AND</b><br/><b>STATEMENT OF ADDITIONAL INFORMATION FOR FUTURE REFERENCE</b></center>