JPMorgan SMID Cap Equity Fund Class I

Under normal market conditions, this fund primarily invests in the stock market, dedicating at least 80% of its overall holdings to shares of small and mid-sized companies. For the purpose of this rule, the fund's "total assets" are defined as its net assets combined with any capital acquired through borrowing for investment. Businesses are classified as small- to mid-cap if their market capitalization aligns with the range of companies found within the Russell 2500® Index at the moment the investment is made.