0001193125-18-337697.txt : 20181129 0001193125-18-337697.hdr.sgml : 20181129 20181129125218 ACCESSION NUMBER: 0001193125-18-337697 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 16 FILED AS OF DATE: 20181129 DATE AS OF CHANGE: 20181129 EFFECTIVENESS DATE: 20181129 FILER: COMPANY DATA: COMPANY CONFORMED NAME: JPMorgan Trust I CENTRAL INDEX KEY: 0001217286 IRS NUMBER: 331043149 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-103022 FILM NUMBER: 181207711 BUSINESS ADDRESS: STREET 1: C/O JPMORGAN DISTRIBUTION SERVICES, INC. STREET 2: 270 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 800-480-4111 MAIL ADDRESS: STREET 1: C/O JPMORGAN DISTRIBUTION SERVICES, INC. STREET 2: 270 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 FORMER COMPANY: FORMER CONFORMED NAME: JP MORGAN MUTUAL FUND SERIES DATE OF NAME CHANGE: 20030204 0001217286 S000002849 JPMorgan U.S. Large Cap Core Plus Fund C000007809 Class I JLPSX C000007811 Class A JLCAX C000007812 Class C JLPCX C000033532 Class R5 JCPRX C000070626 Class R2 JLPZX C000185982 Class T C000195233 Class R6 JLPYX 497 1 d655671d497.htm JPMORGAN TRUST I JPMorgan Trust I

JPMORGAN TRUST I

270 PARK AVENUE

NEW YORK, NEW YORK 10017

November 29, 2018

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 JPMorgan U.S. Large Cap Core Plus 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 prospectus for the Fund dated November 1, 2018, as supplemented. The purpose of this filing is to submit the XBRL information from the 497 filing dated November 19, 2018.

Please contact the undersigned at 614-213-4020 if you have any questions concerning this filing.

 

Very truly yours,

/s/ Elizabeth A. Davin

Elizabeth A. Davin
Assistant Secretary


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
EX-101.INS 2 jpmt3-20181119.xml XBRL INSTANCE DOCUMENT 0001217286 2018-11-01 2018-11-01 0001217286 jpmt3:ACISharesMember jpmt3:S000002849Member 2018-11-01 2018-11-01 0001217286 jpmt3:ACISharesMember jpmt3:S000002849Member jpmt3:C000007811Member 2018-11-01 2018-11-01 0001217286 jpmt3:ACISharesMember jpmt3:S000002849Member jpmt3:C000007812Member 2018-11-01 2018-11-01 0001217286 jpmt3:ACISharesMember jpmt3:S000002849Member jpmt3:C000007809Member 2018-11-01 2018-11-01 0001217286 jpmt3:R2R5R6SharesMember jpmt3:S000002849Member 2018-11-01 2018-11-01 0001217286 jpmt3:R2R5R6SharesMember jpmt3:S000002849Member jpmt3:C000070626Member 2018-11-01 2018-11-01 0001217286 jpmt3:R2R5R6SharesMember jpmt3:S000002849Member jpmt3:C000033532Member 2018-11-01 2018-11-01 0001217286 jpmt3:R2R5R6SharesMember jpmt3:S000002849Member jpmt3:C000195233Member 2018-11-01 2018-11-01 pure iso4217:USD 2018-11-01 497 2018-06-30 JPMorgan Trust I 0001217286 false 2018-11-19 2018-11-19 <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 U.S. Large Cap Core Plus Fund </b></p> <p style="margin-top:0px;margin-bottom:0px" align="center">(All Share 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 November&nbsp;19, 2018 </b></p> <p style="margin-top:0px;margin-bottom:0px" align="center"><b>to the Summary Prospectuses and Prospectuses </b></p> <p style="margin-top:0px;margin-bottom:0px" align="center"><b>dated November&nbsp;1, 2018, as supplemented </b></p> <p style="margin-top:12px;margin-bottom:0px"><b>Changes to Investment Advisory Agreement for the JPMorgan U.S. Large Cap Core Plus Fund: </b>The Board of Trustees has approved changes to the Investment<b> </b>Advisory Agreement of the JPMorgan Large Cap Core Plus Fund (the &#8220;Fund&#8221;) as set forth below. As a result, effective immediately, the management fee for the Fund, which is currently 0.80%, is changed to 0.70%. </p> <p style="margin-top:6px;margin-bottom:0px">In connection with this change, the &#8220;Risk/Return Summary &#8212; Annual Fund Operating Expenses&#8221; and &#8220;Risk/Return Summary &#8212; Example&#8221; sections will be replaced as follows: </p> <p style="margin-top:12px;margin-bottom:0px"><b>For the Class&nbsp;A, Class&nbsp;C and Class&nbsp;I Shares: </b></p> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="69%"></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td valign="bottom" width="3%"></td></tr> <tr style="page-break-inside:avoid"> <td valign="bottom" colspan="12" style="border-left:1px solid #000000; border-top:1px solid #000000; padding-left:8px"> <div style="margin-top:0px;margin-bottom:0px"><b>ANNUAL FUND OPERATING EXPENSES</b></div> <div style="margin-top:0px;margin-bottom:1px"><b>(Expenses that you pay each year as a percentage of the value of your investment)</b></div></td> <td valign="bottom" style=" border-top:1px solid #000000; border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="bottom" style="border-left:1px solid #000000; padding-left:8px">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>Class&nbsp;A</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>Class&nbsp;C</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>Class&nbsp;I</b></td> <td valign="bottom" style=" border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>Management Fees</b><sup>1<b></b></sup><b></b></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.70</td> <td valign="bottom">%&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.70</td> <td valign="bottom">%&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.70</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">%&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>Distribution (Rule 12b-1) Fees</b></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.25</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.75</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">NONE</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>Other Expenses</b></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1.21</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1.20</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1.20</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"> <div style="margin-left:1.00em"><b>Dividend Expenses on Short Sales</b></div></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.85</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.85</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.85</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"> <div style="margin-left:1.00em"><b>Service Fees</b></div></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.25</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.25</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.25</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"> <div style="margin-left:1.00em"><b>Remainder of Other Expenses</b></div></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.11</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.10</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.10</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="font-size:1px"> <td valign="bottom" style="border-left:1px solid #000000; padding-left:8px">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>Total Annual Fund Operating Expenses</b></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2.16</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2.65</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1.90</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>Fee Waivers and Expense Reimbursements</b><sup>2<b></b></sup><b></b></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(0.21</td> <td valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(0.20</td> <td valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(0.20</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">)&nbsp;</td></tr> <tr style="font-size:1px"> <td valign="bottom" style="border-left:1px solid #000000; padding-left:8px">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; border-bottom:1px solid #000000; padding-left:8px"><b>Total Annual Fund Operating Expenses After Fee Waivers and Expense Reimbursements</b><sup>2<b></b></sup><b></b></td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">1.95</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">2.45</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">1.70</td> <td valign="bottom" style="border-right:1px solid #000000; border-bottom:1px solid #000000; padding-right:8px">&nbsp;</td></tr> </table> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <table style="border-collapse:collapse" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style="page-break-inside:avoid"> <td width="1%" valign="top" align="left">1</td> <td align="left" valign="top"> <div style="" align="left">Effective November&nbsp;19, 2018, the Management Fee was contractually reduced from 0.80% to 0.70%. </div></td></tr></table> <table style="border-collapse:collapse" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style="page-break-inside:avoid"> <td width="1%" valign="top" align="left">2</td> <td align="left" valign="top"> <div style="" align="left">The Fund&#8217;s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses other than certain money market fund fees as described below, dividend expenses related to short sales, interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 1.10%, 1.60% and 0.85% of the average daily net assets of Class&nbsp;A, Class&nbsp;C and Class&nbsp;I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund&#8217;s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund&#8217;s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund&#8217;s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. </div></td></tr></table> <p style="margin-top:12px;margin-bottom:0px"><b>Example </b></p> <p style="margin-top:4px;margin-bottom:0px">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. </p> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="73%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td></tr> <tr style="page-break-inside:avoid"> <td valign="bottom" colspan="16" style="border-left:1px solid #000000; border-top:1px solid #000000; padding-left:8px"><b>IF YOU SELL YOUR SHARES, YOUR COSTS WOULD BE:</b></td> <td valign="bottom" style=" border-top:1px solid #000000; border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="bottom" style="border-left:1px solid #000000; padding-left:8px">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>1&nbsp;Year</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>3&nbsp;Years</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>5&nbsp;Years</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>10&nbsp;Years</b></td> <td valign="bottom" style=" border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>CLASS A SHARES ($)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">713</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,146</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,605</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,871</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>CLASS C SHARES ($)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">348</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">804</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,387</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,969</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; border-bottom:1px solid #000000; padding-left:8px"><b>CLASS I SHARES ($)</b></td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">173</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">578</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">1,008</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">2,206</td> <td valign="bottom" style="border-right:1px solid #000000; border-bottom:1px solid #000000; padding-right:8px">&nbsp;</td></tr> </table><p style="margin-top:0px;margin-bottom:0px">&nbsp;</p><p style="page-break-before:always"> </p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="73%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td></tr> <tr style="page-break-inside:avoid"> <td valign="bottom" colspan="16" style="border-left:1px solid #000000; border-top:1px solid #000000; padding-left:8px"><b>IF YOU DO NOT SELL YOUR SHARES, YOUR COSTS WOULD BE:</b></td> <td valign="bottom" style=" border-top:1px solid #000000; border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="bottom" style="border-left:1px solid #000000; padding-left:8px">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>1&nbsp;Year</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>3&nbsp;Years</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>5&nbsp;Years</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>10&nbsp;Years</b></td> <td valign="bottom" style=" border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>CLASS A SHARES ($)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">713</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,146</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,605</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,871</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>CLASS C SHARES ($)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">248</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">804</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,387</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,969</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; border-bottom:1px solid #000000; padding-left:8px"><b>CLASS I SHARES ($)</b></td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">173</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">578</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">1,008</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">2,206</td> <td valign="bottom" style="border-right:1px solid #000000; border-bottom:1px solid #000000; padding-right:8px">&nbsp;</td></tr> </table> <p style="margin-top:12px;margin-bottom:0px"><b>For the Class&nbsp;R2, Class&nbsp;R5 and Class&nbsp;R6 Shares: </b></p> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="66%"></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td valign="bottom" width="4%"></td></tr> <tr style="page-break-inside:avoid"> <td valign="bottom" colspan="12" style="border-left:1px solid #000000; border-top:1px solid #000000; padding-left:8px"> <div style="margin-top:0px;margin-bottom:0px"><b>ANNUAL FUND OPERATING EXPENSES</b></div> <div style="margin-top:0px;margin-bottom:1px"><b>(Expenses that you pay each year as a percentage of the value of your investment)</b></div></td> <td valign="bottom" style=" border-top:1px solid #000000; border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="bottom" style="border-left:1px solid #000000; padding-left:8px">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>Class&nbsp;R2</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>Class&nbsp;R5</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>Class&nbsp;R6</b></td> <td valign="bottom" style=" border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>Management Fees</b><sup>1<b></b></sup><b></b></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.70</td> <td valign="bottom">%&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.70</td> <td valign="bottom">%&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.70</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">%&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>Distribution (Rule 12b-1) Fees</b></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.50</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">NONE</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">NONE</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>Other Expenses</b></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1.22</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1.05</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.94</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"> <div style="margin-left:1.00em"><b>Dividend Expenses on Short Sales</b></div></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.85</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.85</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.85</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"> <div style="margin-left:1.00em"><b>Service Fees</b></div></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.25</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.10</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">NONE</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"> <div style="margin-left:1.00em"><b>Remainder of Other Expenses</b></div></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.12</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.10</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.09</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="font-size:1px"> <td valign="bottom" style="border-left:1px solid #000000; padding-left:8px">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>Total Annual Fund Operating Expenses</b></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2.42</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1.75</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1.64</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>Fee Waivers and Expense Reimbursements</b><sup>2<b></b></sup><b></b></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(0.12</td> <td valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(0.10</td> <td valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(0.09</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">)&nbsp;</td></tr> <tr style="font-size:1px"> <td valign="bottom" style="border-left:1px solid #000000; padding-left:8px">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; border-bottom:1px solid #000000; padding-left:8px"><b>Total Annual Fund Operating Expenses After Fee Waivers and Expense Reimbursements</b><sup>2<b></b></sup><b></b></td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">2.30</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">1.65</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">1.55</td> <td valign="bottom" style="border-right:1px solid #000000; border-bottom:1px solid #000000; padding-right:8px">&nbsp;</td></tr> </table> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <table style="border-collapse:collapse" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style="page-break-inside:avoid"> <td width="1%" valign="top" align="left">1</td> <td align="left" valign="top"> <div style="" align="left">Effective November&nbsp;19, 2018, the Management Fee was contractually reduced from 0.80% to 0.70%. </div></td></tr></table> <table style="border-collapse:collapse" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style="page-break-inside:avoid"> <td width="1%" valign="top" align="left">2</td> <td align="left" valign="top"> <div style="" align="left">The Fund&#8217;s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 1.45%, 0.80% and 0.70% of the average daily net assets of Class&nbsp;R2, Class&nbsp;R5 and Class&nbsp;R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund&#8217;s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund&#8217;s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund&#8217;s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. </div></td></tr></table> <p style="margin-top:12px;margin-bottom:0px"><b>Example </b></p> <p style="margin-top:4px;margin-bottom:0px">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. </p> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="74%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td></tr> <tr style="page-break-inside:avoid"> <td valign="bottom" colspan="16" style="border-left:1px solid #000000; border-top:1px solid #000000; padding-left:8px"><b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COSTS WOULD BE:</b></td> <td valign="bottom" style=" border-top:1px solid #000000; border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="bottom" style="border-left:1px solid #000000; padding-left:8px">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>1&nbsp;Year</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>3&nbsp;Years</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>5&nbsp;Years</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>10&nbsp;Years</b></td> <td valign="bottom" style=" border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>CLASS R2 SHARES ($)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">233</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">743</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,280</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,747</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>CLASS R5 SHARES ($)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">168</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">541</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">940</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,054</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; border-bottom:1px solid #000000; padding-left:8px"><b>CLASS R6 SHARES ($)</b></td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">158</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">508</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">883</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">1,936</td> <td valign="bottom" style="border-right:1px solid #000000; border-bottom:1px solid #000000; padding-right:8px">&nbsp;</td></tr> </table> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0px;margin-bottom:0px" align="center"><b>INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE SUMMARY PROSPECTUSES AND </b></p> <p style="margin-top:0px;margin-bottom:0px" align="center"><b>PROSPECTUSES FOR FUTURE REFERENCE </b></p> <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 U.S. Large Cap Core Plus Fund </b></p> <p style="margin-top:0px;margin-bottom:0px" align="center">(All Share 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 November&nbsp;19, 2018 </b></p> <p style="margin-top:0px;margin-bottom:0px" align="center"><b>to the Summary Prospectuses and Prospectuses </b></p> <p style="margin-top:0px;margin-bottom:0px" align="center"><b>dated November&nbsp;1, 2018, as supplemented </b></p> <p style="margin-top:12px;margin-bottom:0px"><b>Changes to Investment Advisory Agreement for the JPMorgan U.S. Large Cap Core Plus Fund: </b>The Board of Trustees has approved changes to the Investment<b> </b>Advisory Agreement of the JPMorgan Large Cap Core Plus Fund (the &#8220;Fund&#8221;) as set forth below. As a result, effective immediately, the management fee for the Fund, which is currently 0.80%, is changed to 0.70%. </p> <p style="margin-top:6px;margin-bottom:0px">In connection with this change, the &#8220;Risk/Return Summary &#8212; Annual Fund Operating Expenses&#8221; and &#8220;Risk/Return Summary &#8212; Example&#8221; sections will be replaced as follows: </p> <p style="margin-top:12px;margin-bottom:0px"><b>For the Class&nbsp;A, Class&nbsp;C and Class&nbsp;I Shares: </b></p> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="69%"></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td valign="bottom" width="3%"></td></tr> <tr style="page-break-inside:avoid"> <td valign="bottom" colspan="12" style="border-left:1px solid #000000; border-top:1px solid #000000; padding-left:8px"> <div style="margin-top:0px;margin-bottom:0px"><b>ANNUAL FUND OPERATING EXPENSES</b></div> <div style="margin-top:0px;margin-bottom:1px"><b>(Expenses that you pay each year as a percentage of the value of your investment)</b></div></td> <td valign="bottom" style=" border-top:1px solid #000000; border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="bottom" style="border-left:1px solid #000000; padding-left:8px">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>Class&nbsp;A</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>Class&nbsp;C</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>Class&nbsp;I</b></td> <td valign="bottom" style=" border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>Management Fees</b><sup>1<b></b></sup><b></b></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.70</td> <td valign="bottom">%&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.70</td> <td valign="bottom">%&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.70</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">%&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>Distribution (Rule 12b-1) Fees</b></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.25</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.75</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">NONE</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>Other Expenses</b></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1.21</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1.20</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1.20</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"> <div style="margin-left:1.00em"><b>Dividend Expenses on Short Sales</b></div></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.85</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.85</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.85</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"> <div style="margin-left:1.00em"><b>Service Fees</b></div></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.25</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.25</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.25</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"> <div style="margin-left:1.00em"><b>Remainder of Other Expenses</b></div></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.11</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.10</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.10</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="font-size:1px"> <td valign="bottom" style="border-left:1px solid #000000; padding-left:8px">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>Total Annual Fund Operating Expenses</b></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2.16</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2.65</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1.90</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>Fee Waivers and Expense Reimbursements</b><sup>2<b></b></sup><b></b></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(0.21</td> <td valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(0.20</td> <td valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(0.20</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">)&nbsp;</td></tr> <tr style="font-size:1px"> <td valign="bottom" style="border-left:1px solid #000000; padding-left:8px">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; border-bottom:1px solid #000000; padding-left:8px"><b>Total Annual Fund Operating Expenses After Fee Waivers and Expense Reimbursements</b><sup>2<b></b></sup><b></b></td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">1.95</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">2.45</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">1.70</td> <td valign="bottom" style="border-right:1px solid #000000; border-bottom:1px solid #000000; padding-right:8px">&nbsp;</td></tr> </table> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <table style="border-collapse:collapse" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style="page-break-inside:avoid"> <td width="1%" valign="top" align="left">1</td> <td align="left" valign="top"> <div style="" align="left">Effective November&nbsp;19, 2018, the Management Fee was contractually reduced from 0.80% to 0.70%. </div></td></tr></table> <table style="border-collapse:collapse" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style="page-break-inside:avoid"> <td width="1%" valign="top" align="left">2</td> <td align="left" valign="top"> <div style="" align="left">The Fund&#8217;s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses other than certain money market fund fees as described below, dividend expenses related to short sales, interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 1.10%, 1.60% and 0.85% of the average daily net assets of Class&nbsp;A, Class&nbsp;C and Class&nbsp;I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund&#8217;s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund&#8217;s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund&#8217;s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. </div></td></tr></table> <p style="margin-top:12px;margin-bottom:0px"><b>Example </b></p> <p style="margin-top:4px;margin-bottom:0px">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. </p> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="73%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td></tr> <tr style="page-break-inside:avoid"> <td valign="bottom" colspan="16" style="border-left:1px solid #000000; border-top:1px solid #000000; padding-left:8px"><b>IF YOU SELL YOUR SHARES, YOUR COSTS WOULD BE:</b></td> <td valign="bottom" style=" border-top:1px solid #000000; border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="bottom" style="border-left:1px solid #000000; padding-left:8px">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>1&nbsp;Year</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>3&nbsp;Years</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>5&nbsp;Years</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>10&nbsp;Years</b></td> <td valign="bottom" style=" border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>CLASS A SHARES ($)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">713</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,146</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,605</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,871</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>CLASS C SHARES ($)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">348</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">804</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,387</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,969</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; border-bottom:1px solid #000000; padding-left:8px"><b>CLASS I SHARES ($)</b></td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">173</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">578</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">1,008</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">2,206</td> <td valign="bottom" style="border-right:1px solid #000000; border-bottom:1px solid #000000; padding-right:8px">&nbsp;</td></tr> </table><p style="margin-top:0px;margin-bottom:0px">&nbsp;</p><p style="page-break-before:always"> </p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="73%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td></tr> <tr style="page-break-inside:avoid"> <td valign="bottom" colspan="16" style="border-left:1px solid #000000; border-top:1px solid #000000; padding-left:8px"><b>IF YOU DO NOT SELL YOUR SHARES, YOUR COSTS WOULD BE:</b></td> <td valign="bottom" style=" border-top:1px solid #000000; border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="bottom" style="border-left:1px solid #000000; padding-left:8px">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>1&nbsp;Year</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>3&nbsp;Years</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>5&nbsp;Years</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>10&nbsp;Years</b></td> <td valign="bottom" style=" border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>CLASS A SHARES ($)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">713</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,146</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,605</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,871</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>CLASS C SHARES ($)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">248</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">804</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,387</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,969</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; border-bottom:1px solid #000000; padding-left:8px"><b>CLASS I SHARES ($)</b></td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">173</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">578</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">1,008</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">2,206</td> <td valign="bottom" style="border-right:1px solid #000000; border-bottom:1px solid #000000; padding-right:8px">&nbsp;</td></tr> </table> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0px;margin-bottom:0px" align="center"><b>INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE SUMMARY PROSPECTUSES AND </b></p> <p style="margin-top:0px;margin-bottom:0px" align="center"><b>PROSPECTUSES FOR FUTURE REFERENCE </b></p> <b>ANNUAL FUND OPERATING EXPENSES</b><br/><b>(Expenses that you pay each year as a percentage of the value of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>IF YOU SELL YOUR SHARES, YOUR COSTS WOULD BE:</b> <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COSTS WOULD BE:</b> 10/31/19 0.007 0.007 0.007 0.0025 0.0075 0 0.0121 0.012 0.012 0.0085 0.0085 0.0085 0.0025 0.0025 0.0025 0.0011 0.001 0.001 0.0216 0.0265 0.019 -0.0021 -0.002 -0.002 0.0195 0.0245 0.017 713 1146 1605 2871 348 804 1387 2969 173 578 1008 2206 713 1146 1605 2871 248 804 1387 2969 173 578 1008 2206 <b>ANNUAL FUND OPERATING EXPENSES</b><br/><b>(Expenses that you pay each year as a percentage of the value of your investment)</b> <b>Example </b> This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COSTS WOULD BE:</b> <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COSTS WOULD BE:</b> 10/31/19 0.007 0.007 0.007 0.0122 0.0105 0.0094 0.0085 0.0085 0.0085 0.0025 0.001 0 0.0012 0.001 0.0009 0.0242 0.0175 0.0164 -0.0012 -0.001 -0.0009 0.023 0.0165 0.0155 743 541 508 1280 940 883 233 168 158 2747 2054 1936 233 168 158 743 541 508 1280 940 883 2747 2054 1936 <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 U.S. Large Cap Core Plus Fund </b></p> <p style="margin-top:0px;margin-bottom:0px" align="center">(All Share 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 November&nbsp;19, 2018 </b></p> <p style="margin-top:0px;margin-bottom:0px" align="center"><b>to the Summary Prospectuses and Prospectuses </b></p> <p style="margin-top:0px;margin-bottom:0px" align="center"><b>dated November&nbsp;1, 2018, as supplemented </b></p> <p style="margin-top:12px;margin-bottom:0px"><b>Changes to Investment Advisory Agreement for the JPMorgan U.S. Large Cap Core Plus Fund: </b>The Board of Trustees has approved changes to the Investment<b> </b>Advisory Agreement of the JPMorgan Large Cap Core Plus Fund (the &#8220;Fund&#8221;) as set forth below. As a result, effective immediately, the management fee for the Fund, which is currently 0.80%, is changed to 0.70%. </p> <p style="margin-top:6px;margin-bottom:0px">In connection with this change, the &#8220;Risk/Return Summary &#8212; Annual Fund Operating Expenses&#8221; and &#8220;Risk/Return Summary &#8212; Example&#8221; sections will be replaced as follows: </p><p style="margin-top:12px;margin-bottom:0px"><b>For the Class&nbsp;R2, Class&nbsp;R5 and Class&nbsp;R6 Shares: </b></p> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="66%"></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td valign="bottom" width="4%"></td></tr> <tr style="page-break-inside:avoid"> <td valign="bottom" colspan="12" style="border-left:1px solid #000000; border-top:1px solid #000000; padding-left:8px"> <div style="margin-top:0px;margin-bottom:0px"><b>ANNUAL FUND OPERATING EXPENSES</b></div> <div style="margin-top:0px;margin-bottom:1px"><b>(Expenses that you pay each year as a percentage of the value of your investment)</b></div></td> <td valign="bottom" style=" border-top:1px solid #000000; border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="bottom" style="border-left:1px solid #000000; padding-left:8px">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>Class&nbsp;R2</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>Class&nbsp;R5</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>Class&nbsp;R6</b></td> <td valign="bottom" style=" border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>Management Fees</b><sup>1<b></b></sup><b></b></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.70</td> <td valign="bottom">%&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.70</td> <td valign="bottom">%&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.70</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">%&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>Distribution (Rule 12b-1) Fees</b></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.50</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">NONE</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">NONE</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>Other Expenses</b></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1.22</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1.05</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.94</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"> <div style="margin-left:1.00em"><b>Dividend Expenses on Short Sales</b></div></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.85</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.85</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.85</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"> <div style="margin-left:1.00em"><b>Service Fees</b></div></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.25</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.10</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">NONE</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"> <div style="margin-left:1.00em"><b>Remainder of Other Expenses</b></div></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.12</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.10</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.09</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="font-size:1px"> <td valign="bottom" style="border-left:1px solid #000000; padding-left:8px">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>Total Annual Fund Operating Expenses</b></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2.42</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1.75</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1.64</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>Fee Waivers and Expense Reimbursements</b><sup>2<b></b></sup><b></b></td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(0.12</td> <td valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(0.10</td> <td valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(0.09</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">)&nbsp;</td></tr> <tr style="font-size:1px"> <td valign="bottom" style="border-left:1px solid #000000; padding-left:8px">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom"> <div style="border-top:1px solid #000000">&nbsp;</div></td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; border-bottom:1px solid #000000; padding-left:8px"><b>Total Annual Fund Operating Expenses After Fee Waivers and Expense Reimbursements</b><sup>2<b></b></sup><b></b></td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;&nbsp;&nbsp;&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">2.30</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">1.65</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">1.55</td> <td valign="bottom" style="border-right:1px solid #000000; border-bottom:1px solid #000000; padding-right:8px">&nbsp;</td></tr> </table> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <table style="border-collapse:collapse" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style="page-break-inside:avoid"> <td width="1%" valign="top" align="left">1</td> <td align="left" valign="top"> <div style="" align="left">Effective November&nbsp;19, 2018, the Management Fee was contractually reduced from 0.80% to 0.70%. </div></td></tr></table> <table style="border-collapse:collapse" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style="page-break-inside:avoid"> <td width="1%" valign="top" align="left">2</td> <td align="left" valign="top"> <div style="" align="left">The Fund&#8217;s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 1.45%, 0.80% and 0.70% of the average daily net assets of Class&nbsp;R2, Class&nbsp;R5 and Class&nbsp;R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund&#8217;s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund&#8217;s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund&#8217;s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. </div></td></tr></table> <p style="margin-top:12px;margin-bottom:0px"><b>Example </b></p> <p style="margin-top:4px;margin-bottom:0px">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower. </p> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="74%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td valign="bottom" width="2%"></td></tr> <tr style="page-break-inside:avoid"> <td valign="bottom" colspan="16" style="border-left:1px solid #000000; border-top:1px solid #000000; padding-left:8px"><b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COSTS WOULD BE:</b></td> <td valign="bottom" style=" border-top:1px solid #000000; border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="bottom" style="border-left:1px solid #000000; padding-left:8px">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>1&nbsp;Year</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>3&nbsp;Years</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>5&nbsp;Years</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"><b>10&nbsp;Years</b></td> <td valign="bottom" style=" border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>CLASS R2 SHARES ($)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">233</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">743</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,280</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,747</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; padding-left:8px"><b>CLASS R5 SHARES ($)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">168</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">541</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">940</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,054</td> <td valign="bottom" style="border-right:1px solid #000000; padding-right:8px">&nbsp;</td></tr> <tr style="page-break-inside:avoid"> <td valign="top" style="border-left:1px solid #000000; border-bottom:1px solid #000000; padding-left:8px"><b>CLASS R6 SHARES ($)</b></td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">158</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">508</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">883</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style=" border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f">&nbsp;</td> <td valign="bottom" style="border-bottom:1px solid #3f3f3f" align="right">1,936</td> <td valign="bottom" style="border-right:1px solid #000000; border-bottom:1px solid #000000; padding-right:8px">&nbsp;</td></tr> </table> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0px;margin-bottom:0px" align="center"><b>INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE SUMMARY PROSPECTUSES AND </b></p> <p style="margin-top:0px;margin-bottom:0px" align="center"><b>PROSPECTUSES FOR FUTURE REFERENCE </b></p> N-1A 0.005 0 0 Effective November 19, 2018, the Management Fee was contractually reduced from 0.80% to 0.70%. Effective November 19, 2018, the Management Fee was contractually reduced from 0.80% to 0.70%. Effective November 19, 2018, the Management Fee was contractually reduced from 0.80% to 0.70%. The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses other than certain money market fund fees as described below, dividend expenses related to short sales, interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 1.10%, 1.60% and 0.85% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 1.45%, 0.80% and 0.70% of the average daily net assets of Class R2, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments. 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Nov. 01, 2018

J.P. MORGAN U.S. EQUITY FUNDS

JPMorgan U.S. Large Cap Core Plus Fund

(All Share Classes)

(a series of JPMorgan Trust I)

Supplement dated November 19, 2018

to the Summary Prospectuses and Prospectuses

dated November 1, 2018, as supplemented

Changes to Investment Advisory Agreement for the JPMorgan U.S. Large Cap Core Plus Fund: The Board of Trustees has approved changes to the Investment Advisory Agreement of the JPMorgan Large Cap Core Plus Fund (the “Fund”) as set forth below. As a result, effective immediately, the management fee for the Fund, which is currently 0.80%, is changed to 0.70%.

In connection with this change, the “Risk/Return Summary — Annual Fund Operating Expenses” and “Risk/Return Summary — Example” sections will be replaced as follows:

For the Class A, Class C and Class I Shares:

 

ANNUAL FUND OPERATING EXPENSES
(Expenses that you pay each year as a percentage of the value of your investment)
 
        Class A      Class C      Class I  
Management Fees1        0.70      0.70      0.70
Distribution (Rule 12b-1) Fees        0.25        0.75        NONE  
Other Expenses        1.21        1.20        1.20  
Dividend Expenses on Short Sales
       0.85        0.85        0.85  
Service Fees
       0.25        0.25        0.25  
Remainder of Other Expenses
       0.11        0.10        0.10  
      
 
 
    
 
 
    
 
 
 
Total Annual Fund Operating Expenses        2.16        2.65        1.90  
Fee Waivers and Expense Reimbursements2        (0.21      (0.20      (0.20
      
 
 
    
 
 
    
 
 
 
Total Annual Fund Operating Expenses After Fee Waivers and Expense Reimbursements2        1.95        2.45        1.70  

 

1
Effective November 19, 2018, the Management Fee was contractually reduced from 0.80% to 0.70%.
2
The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses other than certain money market fund fees as described below, dividend expenses related to short sales, interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 1.10%, 1.60% and 0.85% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.

Example

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.

 

IF YOU SELL YOUR SHARES, YOUR COSTS WOULD BE:  
     1 Year     3 Years     5 Years     10 Years  
CLASS A SHARES ($)     713       1,146       1,605       2,871  
CLASS C SHARES ($)     348       804       1,387       2,969  
CLASS I SHARES ($)     173       578       1,008       2,206  

 

IF YOU DO NOT SELL YOUR SHARES, YOUR COSTS WOULD BE:  
     1 Year     3 Years     5 Years     10 Years  
CLASS A SHARES ($)     713       1,146       1,605       2,871  
CLASS C SHARES ($)     248       804       1,387       2,969  
CLASS I SHARES ($)     173       578       1,008       2,206  

For the Class R2, Class R5 and Class R6 Shares:

 

ANNUAL FUND OPERATING EXPENSES
(Expenses that you pay each year as a percentage of the value of your investment)
 
        Class R2      Class R5      Class R6  
Management Fees1        0.70      0.70      0.70
Distribution (Rule 12b-1) Fees        0.50        NONE        NONE  
Other Expenses        1.22        1.05        0.94  
Dividend Expenses on Short Sales
       0.85        0.85        0.85  
Service Fees
       0.25        0.10        NONE  
Remainder of Other Expenses
       0.12        0.10        0.09  
      
 
 
    
 
 
    
 
 
 
Total Annual Fund Operating Expenses        2.42        1.75        1.64  
Fee Waivers and Expense Reimbursements2        (0.12      (0.10      (0.09
      
 
 
    
 
 
    
 
 
 
Total Annual Fund Operating Expenses After Fee Waivers and Expense Reimbursements2        2.30        1.65        1.55  

 

1
Effective November 19, 2018, the Management Fee was contractually reduced from 0.80% to 0.70%.
2
The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 1.45%, 0.80% and 0.70% of the average daily net assets of Class R2, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.

Example

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.

 

WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COSTS WOULD BE:  
     1 Year     3 Years     5 Years     10 Years  
CLASS R2 SHARES ($)     233       743       1,280       2,747  
CLASS R5 SHARES ($)     168       541       940       2,054  
CLASS R6 SHARES ($)     158       508       883       1,936  

 

 

 

INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE SUMMARY PROSPECTUSES AND

PROSPECTUSES FOR FUTURE REFERENCE

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J.P. MORGAN U.S. EQUITY FUNDS

JPMorgan U.S. Large Cap Core Plus Fund

(All Share Classes)

(a series of JPMorgan Trust I)

Supplement dated November 19, 2018

to the Summary Prospectuses and Prospectuses

dated November 1, 2018, as supplemented

Changes to Investment Advisory Agreement for the JPMorgan U.S. Large Cap Core Plus Fund: The Board of Trustees has approved changes to the Investment Advisory Agreement of the JPMorgan Large Cap Core Plus Fund (the “Fund”) as set forth below. As a result, effective immediately, the management fee for the Fund, which is currently 0.80%, is changed to 0.70%.

In connection with this change, the “Risk/Return Summary — Annual Fund Operating Expenses” and “Risk/Return Summary — Example” sections will be replaced as follows:

For the Class A, Class C and Class I Shares:

 

ANNUAL FUND OPERATING EXPENSES
(Expenses that you pay each year as a percentage of the value of your investment)
 
        Class A      Class C      Class I  
Management Fees1        0.70      0.70      0.70
Distribution (Rule 12b-1) Fees        0.25        0.75        NONE  
Other Expenses        1.21        1.20        1.20  
Dividend Expenses on Short Sales
       0.85        0.85        0.85  
Service Fees
       0.25        0.25        0.25  
Remainder of Other Expenses
       0.11        0.10        0.10  
      
 
 
    
 
 
    
 
 
 
Total Annual Fund Operating Expenses        2.16        2.65        1.90  
Fee Waivers and Expense Reimbursements2        (0.21      (0.20      (0.20
      
 
 
    
 
 
    
 
 
 
Total Annual Fund Operating Expenses After Fee Waivers and Expense Reimbursements2        1.95        2.45        1.70  

 

1
Effective November 19, 2018, the Management Fee was contractually reduced from 0.80% to 0.70%.
2
The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses other than certain money market fund fees as described below, dividend expenses related to short sales, interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 1.10%, 1.60% and 0.85% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.

Example

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.

 

IF YOU SELL YOUR SHARES, YOUR COSTS WOULD BE:  
     1 Year     3 Years     5 Years     10 Years  
CLASS A SHARES ($)     713       1,146       1,605       2,871  
CLASS C SHARES ($)     348       804       1,387       2,969  
CLASS I SHARES ($)     173       578       1,008       2,206  

 

IF YOU DO NOT SELL YOUR SHARES, YOUR COSTS WOULD BE:  
     1 Year     3 Years     5 Years     10 Years  
CLASS A SHARES ($)     713       1,146       1,605       2,871  
CLASS C SHARES ($)     248       804       1,387       2,969  
CLASS I SHARES ($)     173       578       1,008       2,206  

For the Class R2, Class R5 and Class R6 Shares:

 

ANNUAL FUND OPERATING EXPENSES
(Expenses that you pay each year as a percentage of the value of your investment)
 
        Class R2      Class R5      Class R6  
Management Fees1        0.70      0.70      0.70
Distribution (Rule 12b-1) Fees        0.50        NONE        NONE  
Other Expenses        1.22        1.05        0.94  
Dividend Expenses on Short Sales
       0.85        0.85        0.85  
Service Fees
       0.25        0.10        NONE  
Remainder of Other Expenses
       0.12        0.10        0.09  
      
 
 
    
 
 
    
 
 
 
Total Annual Fund Operating Expenses        2.42        1.75        1.64  
Fee Waivers and Expense Reimbursements2        (0.12      (0.10      (0.09
      
 
 
    
 
 
    
 
 
 
Total Annual Fund Operating Expenses After Fee Waivers and Expense Reimbursements2        2.30        1.65        1.55  

 

1
Effective November 19, 2018, the Management Fee was contractually reduced from 0.80% to 0.70%.
2
The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 1.45%, 0.80% and 0.70% of the average daily net assets of Class R2, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.

Example

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.

 

WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COSTS WOULD BE:  
     1 Year     3 Years     5 Years     10 Years  
CLASS R2 SHARES ($)     233       743       1,280       2,747  
CLASS R5 SHARES ($)     168       541       940       2,054  
CLASS R6 SHARES ($)     158       508       883       1,936  

 

 

 

INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE SUMMARY PROSPECTUSES AND

PROSPECTUSES FOR FUTURE REFERENCE

A, C, I Shares | JPMorgan U.S. Large Cap Core Plus Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock

J.P. MORGAN U.S. EQUITY FUNDS

JPMorgan U.S. Large Cap Core Plus Fund

(All Share Classes)

(a series of JPMorgan Trust I)

Supplement dated November 19, 2018

to the Summary Prospectuses and Prospectuses

dated November 1, 2018, as supplemented

Changes to Investment Advisory Agreement for the JPMorgan U.S. Large Cap Core Plus Fund: The Board of Trustees has approved changes to the Investment Advisory Agreement of the JPMorgan Large Cap Core Plus Fund (the “Fund”) as set forth below. As a result, effective immediately, the management fee for the Fund, which is currently 0.80%, is changed to 0.70%.

In connection with this change, the “Risk/Return Summary — Annual Fund Operating Expenses” and “Risk/Return Summary — Example” sections will be replaced as follows:

For the Class A, Class C and Class I Shares:

 

ANNUAL FUND OPERATING EXPENSES
(Expenses that you pay each year as a percentage of the value of your investment)
 
        Class A      Class C      Class I  
Management Fees1        0.70      0.70      0.70
Distribution (Rule 12b-1) Fees        0.25        0.75        NONE  
Other Expenses        1.21        1.20        1.20  
Dividend Expenses on Short Sales
       0.85        0.85        0.85  
Service Fees
       0.25        0.25        0.25  
Remainder of Other Expenses
       0.11        0.10        0.10  
      
 
 
    
 
 
    
 
 
 
Total Annual Fund Operating Expenses        2.16        2.65        1.90  
Fee Waivers and Expense Reimbursements2        (0.21      (0.20      (0.20
      
 
 
    
 
 
    
 
 
 
Total Annual Fund Operating Expenses After Fee Waivers and Expense Reimbursements2        1.95        2.45        1.70  

 

1
Effective November 19, 2018, the Management Fee was contractually reduced from 0.80% to 0.70%.
2
The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses other than certain money market fund fees as described below, dividend expenses related to short sales, interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 1.10%, 1.60% and 0.85% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.

Example

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.

 

IF YOU SELL YOUR SHARES, YOUR COSTS WOULD BE:  
     1 Year     3 Years     5 Years     10 Years  
CLASS A SHARES ($)     713       1,146       1,605       2,871  
CLASS C SHARES ($)     348       804       1,387       2,969  
CLASS I SHARES ($)     173       578       1,008       2,206  

 

IF YOU DO NOT SELL YOUR SHARES, YOUR COSTS WOULD BE:  
     1 Year     3 Years     5 Years     10 Years  
CLASS A SHARES ($)     713       1,146       1,605       2,871  
CLASS C SHARES ($)     248       804       1,387       2,969  
CLASS I SHARES ($)     173       578       1,008       2,206  

 

 

 

INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE SUMMARY PROSPECTUSES AND

PROSPECTUSES FOR FUTURE REFERENCE

Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES</b><br/><b>(Expenses that you pay each year as a percentage of the value of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent Effective November 19, 2018, the Management Fee was contractually reduced from 0.80% to 0.70%.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>IF YOU SELL YOUR SHARES, YOUR COSTS WOULD BE:</b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>IF YOU DO NOT SELL YOUR SHARES, YOUR COSTS WOULD BE:</b>
A, C, I Shares | JPMorgan U.S. Large Cap Core Plus Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.70% [1]
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Dividend Expenses on Short Sales rr_Component1OtherExpensesOverAssets 0.85%
Service Fees rr_Component2OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component3OtherExpensesOverAssets 0.11%
Other Expenses rr_OtherExpensesOverAssets 1.21%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.16%
Fee Waivers and Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.21%) [2]
Total Annual Fund Operating Expenses After Fee Waivers and Expense Reimbursements rr_NetExpensesOverAssets 1.95% [2]
1 Year rr_ExpenseExampleYear01 $ 713
3 Years rr_ExpenseExampleYear03 1,146
5 Years rr_ExpenseExampleYear05 1,605
10 Years rr_ExpenseExampleYear10 2,871
1 Year rr_ExpenseExampleNoRedemptionYear01 713
3 Years rr_ExpenseExampleNoRedemptionYear03 1,146
5 Years rr_ExpenseExampleNoRedemptionYear05 1,605
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,871
A, C, I Shares | JPMorgan U.S. Large Cap Core Plus Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.70% [1]
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Dividend Expenses on Short Sales rr_Component1OtherExpensesOverAssets 0.85%
Service Fees rr_Component2OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component3OtherExpensesOverAssets 0.10%
Other Expenses rr_OtherExpensesOverAssets 1.20%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.65%
Fee Waivers and Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.20%) [2]
Total Annual Fund Operating Expenses After Fee Waivers and Expense Reimbursements rr_NetExpensesOverAssets 2.45% [2]
1 Year rr_ExpenseExampleYear01 $ 348
3 Years rr_ExpenseExampleYear03 804
5 Years rr_ExpenseExampleYear05 1,387
10 Years rr_ExpenseExampleYear10 2,969
1 Year rr_ExpenseExampleNoRedemptionYear01 248
3 Years rr_ExpenseExampleNoRedemptionYear03 804
5 Years rr_ExpenseExampleNoRedemptionYear05 1,387
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,969
A, C, I Shares | JPMorgan U.S. Large Cap Core Plus Fund | Class I  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.70% [1]
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Dividend Expenses on Short Sales rr_Component1OtherExpensesOverAssets 0.85%
Service Fees rr_Component2OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component3OtherExpensesOverAssets 0.10%
Other Expenses rr_OtherExpensesOverAssets 1.20%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.90%
Fee Waivers and Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.20%) [2]
Total Annual Fund Operating Expenses After Fee Waivers and Expense Reimbursements rr_NetExpensesOverAssets 1.70% [2]
1 Year rr_ExpenseExampleYear01 $ 173
3 Years rr_ExpenseExampleYear03 578
5 Years rr_ExpenseExampleYear05 1,008
10 Years rr_ExpenseExampleYear10 2,206
1 Year rr_ExpenseExampleNoRedemptionYear01 173
3 Years rr_ExpenseExampleNoRedemptionYear03 578
5 Years rr_ExpenseExampleNoRedemptionYear05 1,008
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,206
R2, R5, R6 Shares | JPMorgan U.S. Large Cap Core Plus Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock

J.P. MORGAN U.S. EQUITY FUNDS

JPMorgan U.S. Large Cap Core Plus Fund

(All Share Classes)

(a series of JPMorgan Trust I)

Supplement dated November 19, 2018

to the Summary Prospectuses and Prospectuses

dated November 1, 2018, as supplemented

Changes to Investment Advisory Agreement for the JPMorgan U.S. Large Cap Core Plus Fund: The Board of Trustees has approved changes to the Investment Advisory Agreement of the JPMorgan Large Cap Core Plus Fund (the “Fund”) as set forth below. As a result, effective immediately, the management fee for the Fund, which is currently 0.80%, is changed to 0.70%.

In connection with this change, the “Risk/Return Summary — Annual Fund Operating Expenses” and “Risk/Return Summary — Example” sections will be replaced as follows:

For the Class R2, Class R5 and Class R6 Shares:

 

ANNUAL FUND OPERATING EXPENSES
(Expenses that you pay each year as a percentage of the value of your investment)
 
        Class R2      Class R5      Class R6  
Management Fees1        0.70      0.70      0.70
Distribution (Rule 12b-1) Fees        0.50        NONE        NONE  
Other Expenses        1.22        1.05        0.94  
Dividend Expenses on Short Sales
       0.85        0.85        0.85  
Service Fees
       0.25        0.10        NONE  
Remainder of Other Expenses
       0.12        0.10        0.09  
      
 
 
    
 
 
    
 
 
 
Total Annual Fund Operating Expenses        2.42        1.75        1.64  
Fee Waivers and Expense Reimbursements2        (0.12      (0.10      (0.09
      
 
 
    
 
 
    
 
 
 
Total Annual Fund Operating Expenses After Fee Waivers and Expense Reimbursements2        2.30        1.65        1.55  

 

1
Effective November 19, 2018, the Management Fee was contractually reduced from 0.80% to 0.70%.
2
The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 1.45%, 0.80% and 0.70% of the average daily net assets of Class R2, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.

Example

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.

 

WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COSTS WOULD BE:  
     1 Year     3 Years     5 Years     10 Years  
CLASS R2 SHARES ($)     233       743       1,280       2,747  
CLASS R5 SHARES ($)     168       541       940       2,054  
CLASS R6 SHARES ($)     158       508       883       1,936  

 

 

 

INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE SUMMARY PROSPECTUSES AND

PROSPECTUSES FOR FUTURE REFERENCE

Operating Expenses Caption [Text] rr_OperatingExpensesCaption <b>ANNUAL FUND OPERATING EXPENSES</b><br/><b>(Expenses that you pay each year as a percentage of the value of your investment)</b>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 10/31/19
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent Effective November 19, 2018, the Management Fee was contractually reduced from 0.80% to 0.70%.
Expense Example [Heading] rr_ExpenseExampleHeading <b>Example </b>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 10/31/19 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COSTS WOULD BE:</b>
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption <b>WHETHER OR NOT YOU SELL YOUR SHARES, YOUR COSTS WOULD BE:</b>
R2, R5, R6 Shares | JPMorgan U.S. Large Cap Core Plus Fund | Class R2  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.70% [1]
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Dividend Expenses on Short Sales rr_Component1OtherExpensesOverAssets 0.85%
Service Fees rr_Component2OtherExpensesOverAssets 0.25%
Remainder of Other Expenses rr_Component3OtherExpensesOverAssets 0.12%
Other Expenses rr_OtherExpensesOverAssets 1.22%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.42%
Fee Waivers and Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.12%) [3]
Total Annual Fund Operating Expenses After Fee Waivers and Expense Reimbursements rr_NetExpensesOverAssets 2.30% [3]
1 Year rr_ExpenseExampleYear01 $ 233
3 Years rr_ExpenseExampleYear03 743
5 Years rr_ExpenseExampleYear05 1,280
10 Years rr_ExpenseExampleYear10 2,747
1 Year rr_ExpenseExampleNoRedemptionYear01 233
3 Years rr_ExpenseExampleNoRedemptionYear03 743
5 Years rr_ExpenseExampleNoRedemptionYear05 1,280
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,747
R2, R5, R6 Shares | JPMorgan U.S. Large Cap Core Plus Fund | Class R5  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.70% [1]
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Dividend Expenses on Short Sales rr_Component1OtherExpensesOverAssets 0.85%
Service Fees rr_Component2OtherExpensesOverAssets 0.10%
Remainder of Other Expenses rr_Component3OtherExpensesOverAssets 0.10%
Other Expenses rr_OtherExpensesOverAssets 1.05%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.75%
Fee Waivers and Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.10%) [3]
Total Annual Fund Operating Expenses After Fee Waivers and Expense Reimbursements rr_NetExpensesOverAssets 1.65% [3]
1 Year rr_ExpenseExampleYear01 $ 168
3 Years rr_ExpenseExampleYear03 541
5 Years rr_ExpenseExampleYear05 940
10 Years rr_ExpenseExampleYear10 2,054
1 Year rr_ExpenseExampleNoRedemptionYear01 168
3 Years rr_ExpenseExampleNoRedemptionYear03 541
5 Years rr_ExpenseExampleNoRedemptionYear05 940
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,054
R2, R5, R6 Shares | JPMorgan U.S. Large Cap Core Plus Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.70% [1]
Distribution (Rule 12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Dividend Expenses on Short Sales rr_Component1OtherExpensesOverAssets 0.85%
Service Fees rr_Component2OtherExpensesOverAssets none
Remainder of Other Expenses rr_Component3OtherExpensesOverAssets 0.09%
Other Expenses rr_OtherExpensesOverAssets 0.94%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.64%
Fee Waivers and Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (0.09%) [3]
Total Annual Fund Operating Expenses After Fee Waivers and Expense Reimbursements rr_NetExpensesOverAssets 1.55% [3]
1 Year rr_ExpenseExampleYear01 $ 158
3 Years rr_ExpenseExampleYear03 508
5 Years rr_ExpenseExampleYear05 883
10 Years rr_ExpenseExampleYear10 1,936
1 Year rr_ExpenseExampleNoRedemptionYear01 158
3 Years rr_ExpenseExampleNoRedemptionYear03 508
5 Years rr_ExpenseExampleNoRedemptionYear05 883
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,936
[1] Effective November 19, 2018, the Management Fee was contractually reduced from 0.80% to 0.70%.
[2] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses other than certain money market fund fees as described below, dividend expenses related to short sales, interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 1.10%, 1.60% and 0.85% of the average daily net assets of Class A, Class C and Class I Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
[3] The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses other than certain money market fund fees as described below, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, and extraordinary expenses) exceed 1.45%, 0.80% and 0.70% of the average daily net assets of Class R2, Class R5 and Class R6 Shares, respectively. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund’s adviser, shareholder servicing agent and/or administrator have contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the respective net fees each collects from the affiliated money market funds on the Fund’s investment in such money market funds. These waivers are in effect through 10/31/19, at which time the adviser and/or its affiliates will determine whether to renew or revise them. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.
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Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JPMorgan Trust I
Prospectus Date rr_ProspectusDate Nov. 01, 2018
Document Creation Date dei_DocumentCreationDate Nov. 19, 2018
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