NEW YORK: J.P. Morgan Asset Management to increase disclosure of market-based net asset values (NAVs) for three U.S. Money Market Funds -- Funds' objective to maintain $1.00 stable NAV remains unchanged
Jan 09, 2013
New York, NY, January 9, 2013 – J.P. Morgan Asset Management today announced that three of its U.S. money market funds will begin to disclose their market-based NAVs per share (also known as Shadow NAVs) on a daily basis. This additional disclosure will provide investors with greater transparency regarding the Market-Based NAV's fluctuation, but will not change the funds' existing objective to maintain $1.00 stable NAV.
Beginning on January 14, 2013, the JPMorgan Prime Money Market Fund, JPMorgan Liquid Assets Money Market Fund and the JPMorgan Current Yield Money Market Fund will calculate their Market-Based NAVs per share to four decimals at the Funds' close of each trading day and disclose it the following business day on its website. J.P. Morgan plans to add Market-Based NAVs disclosure for its other money market funds in the near future.
"Daily disclosure of market-based NAVs will help investors better understand how day to day market movements or events can affect the value of the funds' portfolios," said Robert Deutsch, head of Global Liquidity at J.P. Morgan Asset Management. "Increased NAV transparency will allow investors to better understand the nature of money market fund risks and to make more informed decisions regarding their investments while they continue to enjoy the benefits that money market funds offer."
Money market funds' Market-Based NAVs per share have historically been calculated at least weekly, and since December 2010, have been disclosed monthly to the SEC within Form N-MFP and made public with a 60-day lag.
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of $1.4 trillion (as of 9/30/2012), is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high-net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. J.P. Morgan Global Liquidity offers clients money market and liquidity products over a diverse array of currencies, strategies and jurisdictions with a total of $481 billion in assets under management (as of 9/30/2012). JPMorgan Chase & Co. (NYSE: JPM), the parent company of J.P. Morgan Asset Management, is a leading global financial services firm with assets of approximately $2.1 trillion and operations in more than 60 countries. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
Contact JPMorgan Distribution Services at 1-800-480-4111 for a fund prospectus. You can also visit us at www.jpmorganfunds.com. Investors should carefully consider the investment objectives and risks as well as charges and expenses of the mutual fund before investing. The prospectus contains this and other information about the mutual fund. Read the prospectus carefully before investing.
An investment in a money market fund is not insured or guaranteed by the FDIC or any other government agency. Although money market funds strive to preserve the value of the investment at $1.00 per share, it is possible to lose money by investing in a money market fund.
J.P. Morgan Asset Management is the marketing name for the asset management businesses of JPMorgan Chase & Co. Those businesses include, but are not limited to, J.P. Morgan Investment Management Inc., Security Capital Research & Management Incorporated and J.P. Morgan Alternative Asset Management, Inc.
JPMorgan Funds are distributed by JPMorgan Distribution Services, Inc. (JPMDS) and offered by J.P. Morgan Institutional Investments, Inc. (JPMII); both affiliates of JPMorgan Chase & Co. Affiliates of JPMorgan Chase & Co. receive fees for providing various services to the funds. JPMDS and JPMII are both members of FINRA/SIPC.
NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE