497K 1 d15374d497k.htm JPMORGAN TRUST I JPMORGAN TRUST I

JPMORGAN SMARTRETIREMENT FUNDS

JPMorgan SmartRetirement® Income Fund

JPMorgan SmartRetirement® 2020 Fund

JPMorgan SmartRetirement® 2025 Fund

JPMorgan SmartRetirement® 2030 Fund

JPMorgan SmartRetirement® 2035 Fund

JPMorgan SmartRetirement® 2040 Fund

JPMorgan SmartRetirement® 2045 Fund

JPMorgan SmartRetirement® 2050 Fund

JPMorgan SmartRetirement® 2055 Fund

JPMorgan SmartRetirement® 2060 Fund

(All Share Classes)

(each, a series of JPMorgan Trust I)

(each, a “Fund” and collectively, the “Funds”)

Supplement dated May 27, 2021 to the Prospectuses and Summary

Prospectuses dated November 1, 2020, as supplemented

Effective June 1, 2021, the tables reflecting each Fund’s strategic target allocations are replaced for each Fund as noted below.

JPMorgan SmartRetirement Income Fund

The Strategic Target Allocations table and corresponding footnote in the “What are the Fund’s main investment strategies?” section in the Fund’s summary prospectuses and prospectuses are hereby deleted in its entirety and replaced with the following:

 

 
Strategic Target Allocations1  
Fixed Income        62.50 % 
U.S. Fixed Income Funds        41.25 % 
Inflation Managed Funds        7.50 % 
High Yield Fixed Income Funds        10.00 % 
Emerging Markets Debt Funds        3.75 % 
   
Equity        32.50 % 
U.S. Large Cap Equity Funds        14.25 % 
U.S. Small/Mid Cap Equity Funds        3.30 % 
REIT Funds        1.95 % 
International Equity Funds        9.75 % 
Emerging Markets Equity Funds        3.25 % 
   
Money Market/Cash and Cash Equivalents        5.00 % 
Money Market/Cash and Cash Equivalents        5.00 % 
   
Commodities        0.00 % 
   
Commodities Funds        0.00 % 

Note: Above allocations may not sum up to 100% due to rounding.

 

1

As of the date of this prospectus, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

 

SUP-SR-521

JPMorgan SmartRetirement 2020 Fund, JPMorgan SmartRetirement 2025 Fund, JPMorgan SmartRetirement 2030 Fund, JPMorgan SmartRetirement 2035 Fund, JPMorgan SmartRetirement 2040 Fund, JPMorgan SmartRetirement 2045 Fund, JPMorgan SmartRetirement 2050 Fund, JPMorgan SmartRetirement 2055 Fund and JPMorgan SmartRetirement 2060 Fund

The Strategic Target Allocations table and corresponding footnote in the “What are the Fund’s main investment strategies?” section of each Fund’s summary prospectuses and prospectuses (other than the JPMorgan SmartRetirement Income Fund) is hereby deleted in its entirety and replaced with the following:

 

 
Strategic Target Allocations1  
Years to Target Date   40+     35     30     25     20     15     10     5     0     -5     -10  
   
Equity     91.00 %      91.00 %      91.00 %      91.00 %      82.00 %      73.00 %      61.00 %      48.50 %      32.50 %      32.50 %      32.50 % 

U.S. Large Cap Equity Funds

     39.95 %      39.95 %      39.95 %      39.95 %      35.95 %      32.10 %      26.80 %      21.30 %      14.25 %      14.25 %      14.25 % 

U.S. Small/Mid Cap Equity Funds

     9.20 %      9.20 %      9.20 %      9.20 %      8.30 %      7.35 %      6.15 %      4.90 %      3.30 %      3.30 %      3.30 % 

REIT Funds

     5.45 %      5.45 %      5.45 %      5.45 %      4.95 %      4.35 %      3.65 %      2.90 %      1.95 %      1.95 %      1.95 % 

International Equity Funds

     27.30 %      27.30 %      27.30 %      27.30 %      24.60 %      21.90 %      18.30 %      14.55 %      9.75 %      9.75 %      9.75 % 

Emerging Markets Equity Funds

     9.10 %      9.10 %      9.10 %      9.10 %      8.20 %      7.30 %      6.10 %      4.85 %      3.25 %      3.25 %      3.25 % 
   
Commodities     0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 % 

Commodities Funds

     0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 % 
   
Fixed Income     9.00 %      9.00 %      9.00 %      9.00 %      18.00 %      27.00 %      39.00 %      51.50 %      62.50 %      62.50 %      62.50 % 

U.S. Fixed Income Funds

     6.10 %      6.10 %      6.10 %      6.10 %      13.70 %      21.60 %      31.20 %      38.15 %      41.25 %      41.25 %      41.25 % 

Inflation Managed Funds

     0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      3.00 %      7.50 %      7.50 %      7.50 % 

High Yield Fixed Income Funds

     1.95 %      1.95 %      1.95 %      1.95 %      2.80 %      3.40 %      5.00 %      7.15 %      10.00 %      10.00 %      10.00 % 

Emerging Markets Debt Funds

     0.95 %      0.95 %      0.95 %      0.95 %      1.50 %      2.00 %      2.80 %      3.20 %      3.75 %      3.75 %      3.75 % 
   
Money Market Funds/Cash and Cash Equivalents     0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      5.00 %      5.00 %      5.00 % 

Money Market Funds/Cash and Cash Equivalents

     0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      5.00 %      5.00 %      5.00 % 

Note: Above allocations may not sum up to 100% due to rounding.

 

1

As of the date of this prospectus, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

All Funds

For all Funds, the Strategic Target Allocations table and corresponding footnote in the “More About the Funds – Strategic Target Allocations” section in each Fund’s prospectuses is hereby deleted in its entirety and replaced with the following:

 

 
Strategic Target Allocations1  
Allocation Ranges (%)   Income
Fund
Target		     2020
Fund
Target		     2025
Fund
Target		     2030
Fund
Target		     2035
Fund
Target		     2040
Fund
Target		     2045
Fund
Target		     2050
Fund
Target		     2055
Fund
Target		     2060
Fund
Target		  
   
Equity     32.50 %      32.50 %      48.50 %      61.00 %      73.00 %      82.00 %      91.00 %      91.00 %      91.00 %      91.00 % 

U.S. Large Cap Equity Funds

     14.25 %      14.25 %      21.30 %      26.80 %      32.10 %      35.95 %      39.95 %      39.95 %      39.95 %      39.95 % 

U.S. Small/Mid Cap Equity Funds

     3.30 %      3.30 %      4.90 %      6.15 %      7.35 %      8.30 %      9.20 %      9.20 %      9.20 %      9.20 % 

REIT Funds

     1.95 %      1.95 %      2.90 %      3.65 %      4.35 %      4.95 %      5.45 %      5.45 %      5.45 %      5.45 % 

International Equity Funds

     9.75 %      9.75 %      14.55 %      18.30 %      21.90 %      24.60 %      27.30 %      27.30 %      27.30 %      27.30 % 

Emerging Markets Equity Funds

     3.25 %      3.25 %      4.85 %      6.10 %      7.30 %      8.20 %      9.10 %      9.10 %      9.10 %      9.10 % 
   
Commodities     0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 % 

Commodities Funds

     0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 % 
   
Fixed Income     62.50 %      62.50 %      51.50 %      39.00 %      27.00 %      18.00 %      9.00 %      9.00 %      9.00 %      9.00 % 

U.S. Fixed Income Funds

     41.25 %      41.25 %      38.15 %      31.20 %      21.60 %      13.70 %      6.10 %      6.10 %      6.10 %      6.10 % 

Inflation Managed Funds

     7.50 %      7.50 %      3.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 % 

High Yield Fixed Income Funds

     10.00 %      10.00 %      7.15 %      5.00 %      3.40 %      2.80 %      1.95 %      1.95 %      1.95 %      1.95 % 

Emerging Markets Debt Funds

     3.75 %      3.75 %      3.20 %      2.80 %      2.00 %      1.50 %      0.95 %      0.95 %      0.95 %      0.95 % 
   
Money Market Funds/Cash and Cash Equivalents     5.00 %      5.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 % 

Money Market Funds/Cash and Cash Equivalents

     5.00 %      5.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 %      0.00 % 

Note: Information is as of 2/1/21. Actual strategic target allocations may differ by +/- 5% as noted above and, in addition, as a result of a Fund moving along its glide path. Above allocations may not sum up to 100% due to rounding.

 

1

As of the date of this prospectus, each Fund utilizes mutual funds and, to a lesser extent, direct investments in ETFs to implement its strategic target allocations although each Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future.

 

INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE

SUMMARY PROSPECTUSES AND PROSPECTUSES FOR FUTURE REFERENCE