497K 1 d704875d497k.htm JPMORGAN TRUST II JPMorgan Trust II

J.P. MORGAN INCOME FUNDS

JPMorgan Short Duration Bond Fund

(All Share Classes)

(a series of JPMorgan Trust II)

Supplement dated March 27, 2019

To the Summary Prospectuses, Prospectuses and

Statement of Additional Information dated

July 1, 2018, as supplemented

Portfolio Manager Addition. Effective immediately, Toby Maczka will be added to the portfolio management team for the JPMorgan Short Duration Bond Fund (the “Fund”).

Effective immediately, the portfolio manager information in the “Risk/Return Summary – Management” section of each Summary Prospectus and Prospectus is hereby deleted in its entirety and replaced with the following:

Management

J.P. Morgan Investment Management Inc.

 

     
Portfolio Manager      Managed
the Fund
Since
   Primary Title with
Investment Adviser
Gregg Hrivnak      2006    Managing Director
Richard Figuly      2006    Managing Director
Susan Parekh      2016    Executive Director
Toby Maczka      2019    Executive Director

In addition, the “The Funds’ Management and Administration – The Portfolio Managers – Short Duration Bond Fund” section of each Prospectus is hereby deleted in its entirety and replaced by the following:

Short Duration Bond Fund

The lead portfolio managers who are primarily responsible for the day-to-day management of the Fund are listed below. As part of that responsibility, the portfolio managers establish and monitor the overall duration, yield curve, and sector allocation strategies for the Fund. The portfolio managers are assisted by multiple sector and research teams who help formulate duration and allocation recommendations and support the strategies of the Fund within the parameters established by the portfolio managers.

Gregg Hrivnak, Managing Director and CFA charterholder, has been the lead portfolio manager responsible for the day-to-day management of the Fund since May 2006. An employee of JPMIM or predecessor firms since 1989, Mr. Hrivnak has been part of the portfolio management team for the Fund since June 2005 and was previously a fixed income research analyst for the Taxable Bond Team responsible for asset-backed securities. He is currently a portfolio manager and trader in the Global Fixed Income, Currency & Commodities (GFICC) group. Richard Figuly, Managing Director, has participated in the management of the Fund since May 2006. An employee of JPMIM or predecessor firms since 1993, Mr. Figuly is a member of the GFICC group and a portfolio manager for the U.S. Value Driven team and is responsible for managing certain J.P. Morgan Funds and institutional taxable bond portfolios. Susan Parekh, Executive Director, has participated in the management of the Fund since November 2016. An employee of JPMIM or predecessor firms since 1996, Ms. Parekh is a member of GFICC and is a portfolio manager for the U.S. Value Driven team and is responsible for managing certain J.P. Morgan Funds and institutional taxable bond portfolios. Toby Maczka, Executive Director, has been an employee of JPMIM or predecessor firms since 2002 and a portfolio manager of the Fund since 2019. Mr. Maczka is a member of the GFICC Group and a portfolio manager for the U.S. Value Driven team responsible for managing institutional and global wealth management portfolios.

 

SUP-SDB-PM-319


Effective immediately, the “Portfolio Managers – Portfolio Managers’ Other Accounts Managed” section of each statement of additional information (“SAI”) with respect to the Fund is hereby deleted in its entirety and replaced with the following:

PORTFOLIO MANAGERS

Portfolio Managers’ Other Accounts Managed*

The following table shows information regarding all of the other accounts for which advisory fees are not based on the performance of the accounts that are managed by each portfolio manager as of February 28, 2018:

 

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

Short Duration Bond Fund

                 
Gregg F. Hrivnak      1        50,185        2        1,844,981        32        7,583,924  
Richard D. Figuly      14        45,862,620        14        5,036,086        15        4,657,835  
Susan Parekh      0        0        0        0        43        9,088,618  
Toby Maczka**      5        177,066        0        0        115        5,140,568  

The following table shows information on the other accounts managed by each portfolio manager that have advisory fees wholly or partly based on performance as of February 28, 2018.

 

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

Short Duration Bond Fund

                 
Gregg F. Hrivnak      0        0        0        0        0        0  
Richard D. Figuly      0        0        0        0        1        1,060,005  
Susan Parekh      0        0        0        0        0        0  
Toby Maczka**      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.

**

As of February 28, 2019.

 

In addition, effective immediately, the “Portfolio Managers – Portfolio Managers — Ownership of Securities” section of each SAI with respect to the Fund is hereby deleted in its entirety and replaced with the following:

Portfolio Managers — Ownership of Securities

The following table indicates for each Fund the dollar range of shares beneficially owned by each portfolio manager, as of February 28, 2018.

 

     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
 

Short Duration Bond Fund

                    
Gregg F. Hrivnak                        X  
Richard D. Figuly      X                    
Susan Parekh               X           
Toby Maczka*      X                    

 

*

As of February 28, 2019.

 

INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE SUMMARY PROSPECTUSES,

PROSPECTUSES AND THE STATEMENT OF ADDITIONAL INFORMATION FOR FUTURE REFERENCE