497 1 d267259d497.htm JPMORGAN TRUST I JPMorgan Trust I

JPMORGAN TRUST I

JPMorgan SmartRetirement Blend Funds

JPMorgan SmartRetirement® Blend Income Fund

JPMorgan SmartRetirement® Blend 2020 Fund

JPMorgan SmartRetirement® Blend 2025 Fund

JPMorgan SmartRetirement® Blend 2030 Fund

JPMorgan SmartRetirement® Blend 2035 Fund

JPMorgan SmartRetirement® Blend 2040 Fund

JPMorgan SmartRetirement® Blend 2045 Fund

JPMorgan SmartRetirement® Blend 2050 Fund

JPMorgan SmartRetirement® Blend 2055 Fund

JPMorgan SmartRetirement® Blend 2060 Fund

(each a “Fund”)

(All Share Classes)

Supplement dated March 1, 2022 to the Summary Prospectuses and Prospectuses dated November 1, 2021, as supplemented

Effective immediately, the portfolio manager information in the “Risk/Return Summary — Management” section of each Fund’s Summary Prospectuses and Prospectuses is deleted in its entirety and replaced with the following:

Management

J.P. Morgan Investment Management Inc. (the adviser)

 

     
Portfolio Manager   Managed
Fund Since		   

Primary Title with

Investment Adviser

Daniel Oldroyd   2010    Managing Director
Silvia Trilllo   2019    Managing Director
Ove Fladberg   2022    Managing Director
Jeffrey A. Geller   2008    Managing Director

In addition, the “Management of the Funds — The Fund Managers” the first paragraph of each Prospectus is deleted in its entirety and replaced with the following:

The Funds are managed by JPMIM’s Multi-Asset Solutions Team. The members of the Multi-Asset Solutions Team responsible for management and oversight of the Funds are Daniel Oldroyd, Silvia Trillo, Ove Fladberg and Jeffrey A. Geller. In their capacity as portfolio managers, Mr. Oldroyd, Ms. Trillo, Mr. Fladberg, Mr. Geller and the team of investment professionals manage the portfolio construction, investment strategy selection and asset allocation processes for each Fund. Mr. Oldroyd, Managing Director, is the Head of Target Date Strategies for JPMIM and is a CFA and CAIA charterholder. An employee of JPMIM since 2000, Mr. Oldroyd has been a portfolio manager of the Funds since 2010. Ms. Trillo, Managing Director, has been an employee of JPMIM and a member of Multi-Asset Solutions since 2011 and a portfolio manager of the Funds since 2019. Mr. Fladberg, Managing Director, has been an employee of JPMIM since 2007 and a portfolio manager of the Funds since 2022. As CIO for the Americas of Multi-Asset Solutions and an employee of JPMIM since 2006, Mr. Geller, Managing Director, has had investment oversight responsibility for the Funds since 2008.

INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE

SUMMARY PROSPECTUSES AND PROSPECTUSES FOR FUTURE REFERENCE

 

SUP-SRB-PM-322

JPMORGAN TRUST I

JPMorgan SmartRetirement Blend Funds

JPMorgan SmartRetirement® Blend Income Fund

JPMorgan SmartRetirement® Blend 2020 Fund

JPMorgan SmartRetirement® Blend 2025 Fund

JPMorgan SmartRetirement® Blend 2030 Fund

JPMorgan SmartRetirement® Blend 2035 Fund

JPMorgan SmartRetirement® Blend 2040 Fund

JPMorgan SmartRetirement® Blend 2045 Fund

JPMorgan SmartRetirement® Blend 2050 Fund

JPMorgan SmartRetirement® Blend 2055 Fund

JPMorgan SmartRetirement® Blend 2060 Fund

(each a “Fund”)

(All Share Classes)

Supplement dated March 1, 2022

to the Statement of Additional Information

dated November 1, 2021, as supplemented

Effective immediately, the information in the “Portfolio Managers — Portfolio Managers’ Other Accounts Managed” section of the Statement of Additional Information with respect to the JPMorgan SmartRetirement Funds is hereby deleted in its entirety and replaced with the following:

The following table shows information regarding the other accounts managed for which advisory fees are not based on the performance of the accounts that are managed by each portfolio manager as of June 30, 2021.

 

     Non-Performance Based Fee Advisory Accounts  
     Registered Investment
Companies		      Other Pooled Investment
Vehicles		      Other Accounts  
     Number
of
Accounts		      Total Assets
($thousands)		      Number
of
Accounts		      Total Assets
($thousands)		      Number
of
Accounts		      Total Assets
($thousands)		  

JPMorgan SmartRetirement
Blend Income Fund

                  
Jeffrey A. Geller      39      $ 102,487,817        52      $ 65,453,491        26      $ 15,199,108  
Daniel Oldroyd      22        56,215,299        40        60,810,848        6        20,458,708  
Silvia Trillo      23        56,455,428        40        60,810,848        4        770,657  
Ove Fladberg1      4        20,467,483        0        0        0        0  

JPMorgan SmartRetirement
Blend 2020 Fund

                  
Jeffrey A. Geller      39        101,790,404        52        65,453,491        26        15,199,108  
Daniel Oldroyd      22        55,517,887        40        60,810,848        6        20,458,708  
Silvia Trillo      23        55,758,016        40        60,810,848        4        770,657  
Ove Fladberg1      4        20,467,483        0        0        0        0  

JPMorgan SmartRetirement
Blend 2025 Fund

                  
Jeffrey A. Geller      39        100,956,878        52        65,453,491        26        15,199,108  
Daniel Oldroyd      22        54,684,360        40        60,810,848        6        20,458,708  
Silvia Trillo      23        54,924,490        40        60,810,848        4        770,657  
Ove Fladberg1      4        20,467,483        0        0        0        0  

 

SUP-SAI-SRB-322

     Non-Performance Based Fee Advisory Accounts  
     Registered Investment
Companies		      Other Pooled Investment
Vehicles		      Other Accounts  
     Number
of
Accounts		      Total Assets
($thousands)		      Number
of
Accounts		      Total Assets
($thousands)		      Number
of
Accounts		      Total Assets
($thousands)		  

JPMorgan SmartRetirement
Blend 2030 Fund

                  
Jeffrey A. Geller      39      $ 100,619,130        52      $ 65,453,491        26      $ 15,199,108  
Daniel Oldroyd      22        54,346,612        40        60,810,848        6        20,458,708  
Silvia Trillo      23        54,586,742        40        60,810,848        4        770,657  
Ove Fladberg1      4        20,467,483        0        0        0        0  

JPMorgan SmartRetirement
Blend 2035 Fund

                  
Jeffrey A. Geller      39        100,859,430        52        65,453,491        26        15,199,108  
Daniel Oldroyd      22        54,586,913        40        60,810,848        6        20,458,708  
Silvia Trillo      23        54,827,042        40        60,810,848        4        770,657  
Ove Fladberg1      4        20,467,483        0        0        0        0  

JPMorgan SmartRetirement
Blend 2040 Fund

                  
Jeffrey A. Geller      39        101,110,347        52        65,453,491        26        15,199,108  
Daniel Oldroyd      22        54,837,829        40        60,810,848        6        20,458,708  
Silvia Trillo      23        55,077,959        40        60,810,848        4        770,657  
Ove Fladberg1      4        20,467,483        0        0        0        0  

JPMorgan SmartRetirement
Blend 2045 Fund

                  
Jeffrey A. Geller      39        101,566,348        52        65,453,491        26        15,199,108  
Daniel Oldroyd      22        55,293,831        40        60,810,848        6        20,458,708  
Silvia Trillo      23        55,533,960        40        60,810,848        4        770,657  
Ove Fladberg1      4        20,467,483        0        0        0        0  

JPMorgan SmartRetirement
Blend 2050 Fund

                  
Jeffrey A. Geller      39        101,954,760        52        65,453,491        26        15,199,108  
Daniel Oldroyd      22        55,682,242        40        60,810,848        6        20,458,708  
Silvia Trillo      23        55,922,372        40        60,810,848        4        770,657  
Ove Fladberg1      4        20,467,483        0        0        0        0  

JPMorgan SmartRetirement
Blend 2055 Fund

                  
Jeffrey A. Geller      39        102,563,137        52        65,453,491        26        15,199,108  
Daniel Oldroyd      22        56,290,619        40        60,810,848        6        20,458,708  
Silvia Trillo      23        56,530,749        40        60,810,848        4        770,657  
Ove Fladberg1      4        20,467,483        0        0        0        0  

JPMorgan SmartRetirement
Blend 2060 Fund

                  
Jeffrey A. Geller      39        103,053,780        52        65,453,491        26        15,199,108  
Daniel Oldroyd      22        56,781,262        40        60,810,848        6        20,458,708  
Silvia Trillo      23        57,021,392        40        60,810,848        4        770,657  
Ove Fladberg1      4        20,467,483        0        0        0        0  

 

1

As of 12/31/2021.

The following table shows information regarding the other accounts managed by each portfolio manager that have advisory fees wholly or partly based on performance as of June 30, 2021.

 

     Non-Performance Based Fee Advisory Accounts  
   Registered Investment
Companies		      Other Pooled Investment
Vehicles		      Other Accounts  
   Number
of
Accounts		      Total Assets
($thousands)		      Number
of
Accounts		      Total Assets
($thousands)		      Number
of
Accounts		      Total Assets
($thousands)		  

JPMorgan SmartRetirement
Blend Income Fund

                  
Jeffrey A. Geller      0      $ 0        0      $ 0        1      $ 540,685  
Daniel Oldroyd      0        0        0        0        0        0  
Silvia Trillo      0        0        0        0        0        0  
Ove Fladberg1      0        0        0        0        0        0  

JPMorgan SmartRetirement
Blend 2020 Fund

                  
Jeffrey A. Geller      0        0        0        0        1        540,685  
Daniel Oldroyd      0        0        0        0        0        0  
Silvia Trillo      0        0        0        0        0        0  
Ove Fladberg1      0        0        0        0        0        0  

JPMorgan SmartRetirement
Blend 2025 Fund

                  
Jeffrey A. Geller      0        0        0        0        1        540,685  
Daniel Oldroyd      0        0        0        0        0        0  
Silvia Trillo      0        0        0        0        0        0  
Ove Fladberg1      0        0        0        0        0        0  

JPMorgan SmartRetirement
Blend 2030 Fund

                  
Jeffrey A. Geller      0        0        0        0        1        540,685  
Daniel Oldroyd      0        0        0        0        0        0  
Silvia Trillo      0        0        0        0        0        0  
Ove Fladberg1      0        0        0        0        0        0  

JPMorgan SmartRetirement
Blend 2035 Fund

                  
Jeffrey A. Geller      0        0        0        0        1        540,685  
Daniel Oldroyd      0        0        0        0        0        0  
Silvia Trillo      0        0        0        0        0        0  
Ove Fladberg1      0        0        0        0        0        0  

JPMorgan SmartRetirement
Blend 2040 Fund

                  
Jeffrey A. Geller      0        0        0        0        1        540,685  
Daniel Oldroyd      0        0        0        0        0        0  
Silvia Trillo      0        0        0        0        0        0  
Ove Fladberg1      0        0        0        0        0        0  

JPMorgan SmartRetirement
Blend 2045 Fund

                  
Jeffrey A. Geller      0        0        0        0        1        540,685  
Daniel Oldroyd      0        0        0        0        0        0  
Silvia Trillo      0        0        0        0        0        0  
Ove Fladberg1      0        0        0        0        0        0  

     Non-Performance Based Fee Advisory Accounts  
   Registered Investment
Companies		      Other Pooled Investment
Vehicles		      Other Accounts  
   Number
of
Accounts		      Total Assets
($thousands)		      Number
of
Accounts		      Total Assets
($thousands)		      Number
of
Accounts		      Total Assets
($thousands)		  

JPMorgan SmartRetirement
Blend 2050 Fund

                  
Jeffrey A. Geller      0      $ 0        0      $ 0        1      $ 540,685  
Daniel Oldroyd      0        0        0        0        0        0  
Silvia Trillo      0        0        0        0        0        0  
Ove Fladberg1      0        0        0        0        0        0  

JPMorgan SmartRetirement
Blend 2055 Fund

                  
Jeffrey A. Geller      0        0        0        0        1        540,685  
Daniel Oldroyd      0        0        0        0        0        0  
Silvia Trillo      0        0        0        0        0        0  
Ove Fladberg1      0        0        0        0        0        0  

JPMorgan SmartRetirement
Blend 2060 Fund

                  
Jeffrey A. Geller      0        0        0        0        1        540,685  
Daniel Oldroyd      0        0        0        0        0        0  
Silvia Trillo      0        0        0        0        0        0  
Ove Fladberg1      0        0        0        0        0        0  

 

*

The total value and number of accounts managed by a portfolio manager may include sub-accounts of asset allocation, multi-managed and other accounts.

 

1

As of 12/31/2021.

In addition, effective immediately, the information in the “Portfolio Managers — Portfolio Managers’ Ownership of Securities” section of the Statement of Additional Information with respect to the JPMorgan SmartRetirement Funds is hereby deleted in its entirety and replaced with the following:

The following table indicates for each Fund the dollar range of securities beneficially owned by each portfolio manager, as of June 30, 2021. Aggregate Dollar Range, if applicable, includes each portfolio manager’s deferred compensation balance attributable to the Fund through participation in the Adviser’s deferred compensation plan. If applicable, this reflects an obligation of the Adviser to pay deferred compensation to the portfolio manager at a future date in an amount based on the performance of that Fund and accordingly, is the economic equivalent of an investment in Fund shares.

 

   

Aggregate Dollar Range of Securities in the Fund

  
 

None

   $1-
$10,000		     $10,001-
$50,000		     $50,001-
$100,000		     $100,001-
$500,000		     $500,001-
$1,000,000		     Over
$1,000,000		  

JPMorgan SmartRetirement
Blend Income Fund

              
Jeffrey A. Geller   X            
Daniel Oldroyd   X            
Silvia Trillo   X            
Ove Fladberg1   X            

JPMorgan SmartRetirement
Blend 2020 Fund

              
Jeffrey A. Geller   X            
Daniel Oldroyd   X            
Silvia Trillo   X            
Ove Fladberg1   X            

   

Aggregate Dollar Range of Securities in the Fund

  
 

None

   $1-
$10,000		     $10,001-
$50,000		     $50,001-
$100,000		     $100,001-
$500,000		     $500,001-
$1,000,000		     Over
$1,000,000		  

JPMorgan SmartRetirement Blend 2025 Fund

              
Jeffrey A. Geller   X            
Daniel Oldroyd   X            
Silvia Trillo   X            
Ove Fladberg1   X            

JPMorgan SmartRetirement Blend 2030 Fund

              
Jeffrey A. Geller   X            
Daniel Oldroyd   X            
Silvia Trillo   X            
Ove Fladberg1   X            

JPMorgan SmartRetirement Blend 2035 Fund

              
Jeffrey A. Geller   X            
Daniel Oldroyd   X            
Silvia Trillo   X            
Ove Fladberg1   X            

JPMorgan SmartRetirement Blend 2040 Fund

              
Jeffrey A. Geller   X            
Daniel Oldroyd   X            
Silvia Trillo   X            
Ove Fladberg1   X            

JPMorgan SmartRetirement Blend 2045 Fund

              
Jeffrey A. Geller   X            
Daniel Oldroyd   X            
Silvia Trillo   X            
Ove Fladberg1   X            

JPMorgan SmartRetirement Blend 2050 Fund

              
Jeffrey A. Geller   X            
Daniel Oldroyd   X            
Silvia Trillo   X            
Ove Fladberg1   X            

JPMorgan SmartRetirement Blend 2055 Fund

              
Jeffrey A. Geller   X            
Daniel Oldroyd   X            
Silvia Trillo   X            
Ove Fladberg1   X            

JPMorgan SmartRetirement Blend 2060 Fund

              
Jeffrey A. Geller   X            
Daniel Oldroyd   X            
Silvia Trillo   X            
Ove Fladberg1   X            

 

1

As of 2/28/2022.

In addition, also effective immediately, the fifth paragraph under “Acting for Multiple Clients.” in the “POTENTIAL CONFLICTS OF INTEREST” section of the Statement of Additional Information is hereby deleted in its entirety and replaced with the following:

The portfolio managers of certain Funds-of-Funds and separate accounts have access to the holdings and may have knowledge of the investment strategies and techniques of certain underlying Funds because they (i) receive portfolio holding information concerning accounts that are managed in a similar strategy as an underlying Fund that is not subject to the same restrictions as the underlying Funds and/or (ii) they serve as or oversee the portfolio manager(s) of the underlying Funds. In addition, the portfolio managers of certain Funds-of-Funds and separate accounts have periodic access to risk exposure information such as currency, sector, region, country, asset class, credit quality, volatility characteristics, VaR and stress information, exposure versus benchmarks, duration and Environmental, Social and Governance (“ESG”) ratings based on the aggregate daily holdings of the underlying Funds in which such Funds-of-Funds and separate accounts invest. They therefore face conflicts of interest in the timing and amount of allocations to or redemptions from an underlying Fund, as well as in the choice of an underlying Fund.

 

INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE

STATEMENT OF ADDITIONAL INFORMATION FOR FUTURE REFERENCE