Morningstar Advisor - June/July 2010 - 32d

Use these resources to continue the conversation with your clients. Use these resources to continue the conversation with your clients.

Our Investment Insights series is Our Investment Insights series is designed to help you talk to your clients designed to help you talk to your clients about their asset allocation strategies. about their asset allocation strategies. The newest publication presents a more The newest publication presents a more diversied approach to building income. diversied approach to building income.

A video-rich website features fund A video-rich website features fund strategy information, performance strategy information, performance data, and insights from the Income data, and insights from the Income Builder Fund portfolio managers. Builder Fund portfolio managers.

Our quarterly Guide to the Markets Our quarterly Guide to the Markets is a digest of key market and is a digest of key market and economic data that you can use economic data that you can use to further client conversations. to further client conversations.

Visit jpmorganfunds.com/ExpandYield or call 1-877-803-4032 for a fund prole, performance Visit jpmorganfunds.com/ExpandYield or call 1-877-803-4032 for a fund prole, performance information, investment strategy, and market insights. information, investment strategy, and market insights.

jpmorganfunds.com/ExpandYield jpmorganfunds.com/ExpandYield
Investors should carefully consider the investment objectives, risks, charges, and expenses of any mutual fund prior Investors should carefully consider the investment objectives, risks, charges, and expenses of any mutual fund prior to investing. Contact JPMorgan Distribution Services, Inc. at 1-800-480-4111 or visit us at jpmorganfunds.com for a to investing. Contact JPMorgan Distribution Services, Inc. at 1-800-480-4111 or visit us at jpmorganfunds.com for a fund prospectus, which contains this and other fund information. Read the prospectus carefully before investing. fund prospectus, which contains this and other fund information. Read the prospectus carefully before investing.
Total return assumes reinvestment of dividends and capital gains distributions, and reects the deduction of any sales charges, where applicable. Total return assumes reinvestment of dividends and capital gains distributions, and reects the deduction of any sales charges, where applicable. Performance may reect the waiver of a portion of the Fund’s advisory or administrative fees for certain periods since the inception date. If fees had not been Performance may reect the waiver of a portion of the Fund’s advisory or administrative fees for certain periods since the inception date. If fees had not been waived, performance would have been less favorable. waived, performance would have been less favorable. Selected risks: The fund’s equity securities will decline in value based on changes in the overall market condition or changes in the company, sometimes Selected risks: The fund’s equity securities will decline in value based on changes in the overall market condition or changes in the company, sometimes rapidly or unpredictably. The fund’s xed income securities are subject to interest rate risk. Bond prices generally fall when interest rates rise. The fund rapidly or unpredictably. The fund’s xed income securities are subject to interest rate risk. Bond prices generally fall when interest rates rise. The fund invests in high yield securities rated below investment grade. Although these securities tend to provide higher yields than higher rated securities, there is invests in high yield securities rated below investment grade. Although these securities tend to provide higher yields than higher rated securities, there is a greater risk that the fund’s share price will decline. In addition, the fund may invest in derivatives which may be riskier than other types of investments a greater risk that the fund’s share price will decline. In addition, the fund may invest in derivatives which may be riskier than other types of investments because of their sensitivity to changes in economic and market conditions. Investing in derivatives could result in losses that signicantly exceed the fund’s or because of their sensitivity to changes in economic and market conditions. Investing in derivatives could result in losses that signicantly exceed the fund’s or the underlying funds’ original investments. the underlying funds’ original investments. The fund was incepted on 5/31/07 and was seeded with proprietary assets. Please note the performance shown prior to 12/18/09 does not take into The fund was incepted on 5/31/07 and was seeded with proprietary assets. Please note the performance shown prior to 12/18/09 does not take into consideration the inow and outows of cash which would have had an effect on performance. consideration the inow and outows of cash which would have had an effect on performance. *Lipper Rankings: As of 03/31/10 the J.P. Morgan Income Builder Fund (A shares) was ranked against the following number of funds in the Lipper Global *Lipper Rankings: As of 03/31/10 the J.P. Morgan Income Builder Fund (A shares) was ranked against the following number of funds in the Lipper Global Flexible Portfolio category. For the 1-year period (25%); 40 out of 163 funds. For the since-inception (May 31, 2007) period, (25%); 20 out of 82 funds. Past Flexible Portfolio category. For the 1-year period (25%); 40 out of 163 funds. For the since-inception (May 31, 2007) period, (25%); 20 out of 82 funds. Past performance is no guarantee of future results. Rankings are calculated based upon the total returns of multiple share classes (at NAV) within their respective performance is no guarantee of future results. Rankings are calculated based upon the total returns of multiple share classes (at NAV) within their respective Lipper category. Different share classes may have different rankings. Lipper information is sourced from Lipper Analytical Services. Lipper is a wholly owned Lipper category. Different share classes may have different rankings. Lipper information is sourced from Lipper Analytical Services. Lipper is a wholly owned subsidiary of Reuters. Although the fund ranked relatively high in its Lipper category, please note on an absolute basis the fund’s performance along with subsidiary of Reuters. Although the fund ranked relatively high in its Lipper category, please note on an absolute basis the fund’s performance along with the rest of the funds in the Lipper category were inuenced by the prevailing market conditions during the ranking period. To view the most current average the rest of the funds in the Lipper category were inuenced by the prevailing market conditions during the ranking period. To view the most current average annualized returns, please visit the J.P. Morgan Funds website at www.jpmorganfunds.com annualized returns, please visit the J.P. Morgan Funds website at www.jpmorganfunds.com The S&P 500 Index is an unmanaged index generally representative of the performance of large companies in the U.S. stock market. The performance of the The S&P 500 Index is an unmanaged index generally representative of the performance of large companies in the U.S. stock market. The performance of the index does not reect the deduction of expenses associated with a mutual fund, such as management fees. By contrast, the performance of the Fund reects index does not reect the deduction of expenses associated with a mutual fund, such as management fees. By contrast, the performance of the Fund reects the deduction of the mutual fund expenses, including sales charges if applicable. An individual cannot invest directly in an index. the deduction of the mutual fund expenses, including sales charges if applicable. An individual cannot invest directly in an index. The Barclays Capital U.S. Aggregate Index is an unmanaged index that represents securities that are SEC-registered, taxable, and dollar denominated. The The Barclays Capital U.S. Aggregate Index is an unmanaged index that represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment-grade xed rate bond market, with index components for government and corporate securities, mortgage pass-through index covers the U.S. investment-grade xed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. The performance of the index does not reect the deduction of expenses associated with a mutual fund, such as securities, and asset-backed securities. The performance of the index does not reect the deduction of expenses associated with a mutual fund, such as investment management fees. By contrast, the performance of the Fund reects the deduction of the mutual fund expenses, including sales charges if investment management fees. By contrast, the performance of the Fund reects the deduction of the mutual fund expenses, including sales charges if applicable. An individual cannot invest directly in an index. applicable. An individual cannot invest directly in an index. The Lipper Global Flexible Portfolio Funds Index represents the total returns of the funds in the indicated category, as dened by Lipper, Inc. An individual cannot The Lipper Global Flexible Portfolio Funds Index represents the total returns of the funds in the indicated category, as dened by Lipper, Inc. An individual cannot invest directly in an index. invest directly in an index. J.P. Morgan Asset Management is the marketing name for the asset management businesses of JPMorgan Chase & Co. Those businesses include, but 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 are not limited to, J.P. Morgan Investment Management Inc., Security Capital Research & Management Incorporated, and J.P. Morgan Alternative Asset Management, Inc. Management, Inc. J.P. Morgan Funds are distributed by JPMorgan Distribution Services, Inc., which is an afliate of JPMorgan Chase & Co. Afliates of JPMorgan Chase & Co. J.P. Morgan Funds are distributed by JPMorgan Distribution Services, Inc., which is an afliate of JPMorgan Chase & Co. Afliates of JPMorgan Chase & Co. receive fees for providing various services to the Funds. Member FINRA/SIPC. receive fees for providing various services to the Funds. Member FINRA/SIPC. © 2010 JPMorgan Chase & Co. All rights reserved. © 2010 JPMorgan Chase & Co. All rights reserved.


http://jpmorganfunds.com/ExpandYield http://jpmorganfunds.com/ExpandYield http://jpmorganfunds.com/ExpandYield http://jpmorganfunds.com http://jpmorganfunds.com http://www..jpmorganfunds..com

Morningstar Advisor - June/July 2010

Table of Contents for the Digital Edition of Morningstar Advisor - June/July 2010

Morningstar Advisor - June/July 2010
Contents
New on MorningstarAdvisor.com
Contributors
Letter From the Editor
What Risks to Bonds Are You Most Concerned About?
The Irrational Lizard Brain
Investment Briefs
The Problem With Financial Plans
Preparing for Turbulance
Different Models, Similar Results
The Game Is Up
Some People Are Bullish on Bonds
Bonds We Like
What Does Harry Markowitz Think?
Escape From the Pack
Four Picks for the Present
Rising Rates Could Affect Equities, Too
The Banking Sector Knocks on Wood
Back to Basics
On the Prowl for Smooth Operators
Mutual Fund Analyst Picks
50 Most Popular ETFs
Undervalued Stocks With Wide Moats
New at Morningstar
R-E-S-P-E-C-T
Morningstar Advisor - June/July 2010 - Morningstar Advisor - June/July 2010
Morningstar Advisor - June/July 2010 - Cover2
Morningstar Advisor - June/July 2010 - 1
Morningstar Advisor - June/July 2010 - 2
Morningstar Advisor - June/July 2010 - Contents
Morningstar Advisor - June/July 2010 - 4
Morningstar Advisor - June/July 2010 - 5
Morningstar Advisor - June/July 2010 - New on MorningstarAdvisor.com
Morningstar Advisor - June/July 2010 - 7
Morningstar Advisor - June/July 2010 - Contributors
Morningstar Advisor - June/July 2010 - Letter From the Editor
Morningstar Advisor - June/July 2010 - What Risks to Bonds Are You Most Concerned About?
Morningstar Advisor - June/July 2010 - 11
Morningstar Advisor - June/July 2010 - 12
Morningstar Advisor - June/July 2010 - 13
Morningstar Advisor - June/July 2010 - The Irrational Lizard Brain
Morningstar Advisor - June/July 2010 - 15
Morningstar Advisor - June/July 2010 - Investment Briefs
Morningstar Advisor - June/July 2010 - 17
Morningstar Advisor - June/July 2010 - The Problem With Financial Plans
Morningstar Advisor - June/July 2010 - 19
Morningstar Advisor - June/July 2010 - 20
Morningstar Advisor - June/July 2010 - Preparing for Turbulance
Morningstar Advisor - June/July 2010 - 22
Morningstar Advisor - June/July 2010 - 23
Morningstar Advisor - June/July 2010 - Different Models, Similar Results
Morningstar Advisor - June/July 2010 - 25
Morningstar Advisor - June/July 2010 - 26
Morningstar Advisor - June/July 2010 - 27
Morningstar Advisor - June/July 2010 - 28
Morningstar Advisor - June/July 2010 - 29
Morningstar Advisor - June/July 2010 - The Game Is Up
Morningstar Advisor - June/July 2010 - 31
Morningstar Advisor - June/July 2010 - 32
Morningstar Advisor - June/July 2010 - 32a
Morningstar Advisor - June/July 2010 - 32b
Morningstar Advisor - June/July 2010 - 32c
Morningstar Advisor - June/July 2010 - 32d
Morningstar Advisor - June/July 2010 - 33
Morningstar Advisor - June/July 2010 - Some People Are Bullish on Bonds
Morningstar Advisor - June/July 2010 - 35
Morningstar Advisor - June/July 2010 - 36
Morningstar Advisor - June/July 2010 - Bonds We Like
Morningstar Advisor - June/July 2010 - 38
Morningstar Advisor - June/July 2010 - 39
Morningstar Advisor - June/July 2010 - 40
Morningstar Advisor - June/July 2010 - 41
Morningstar Advisor - June/July 2010 - 42
Morningstar Advisor - June/July 2010 - What Does Harry Markowitz Think?
Morningstar Advisor - June/July 2010 - 44
Morningstar Advisor - June/July 2010 - 45
Morningstar Advisor - June/July 2010 - 46
Morningstar Advisor - June/July 2010 - 47
Morningstar Advisor - June/July 2010 - 48
Morningstar Advisor - June/July 2010 - 49
Morningstar Advisor - June/July 2010 - 50
Morningstar Advisor - June/July 2010 - 51
Morningstar Advisor - June/July 2010 - Escape From the Pack
Morningstar Advisor - June/July 2010 - 53
Morningstar Advisor - June/July 2010 - 54
Morningstar Advisor - June/July 2010 - 55
Morningstar Advisor - June/July 2010 - 56
Morningstar Advisor - June/July 2010 - Four Picks for the Present
Morningstar Advisor - June/July 2010 - 58
Morningstar Advisor - June/July 2010 - 59
Morningstar Advisor - June/July 2010 - Rising Rates Could Affect Equities, Too
Morningstar Advisor - June/July 2010 - 61
Morningstar Advisor - June/July 2010 - 62
Morningstar Advisor - June/July 2010 - The Banking Sector Knocks on Wood
Morningstar Advisor - June/July 2010 - 64
Morningstar Advisor - June/July 2010 - 65
Morningstar Advisor - June/July 2010 - Back to Basics
Morningstar Advisor - June/July 2010 - 67
Morningstar Advisor - June/July 2010 - On the Prowl for Smooth Operators
Morningstar Advisor - June/July 2010 - 69
Morningstar Advisor - June/July 2010 - Mutual Fund Analyst Picks
Morningstar Advisor - June/July 2010 - 71
Morningstar Advisor - June/July 2010 - 72
Morningstar Advisor - June/July 2010 - 73
Morningstar Advisor - June/July 2010 - 50 Most Popular ETFs
Morningstar Advisor - June/July 2010 - 75
Morningstar Advisor - June/July 2010 - Undervalued Stocks With Wide Moats
Morningstar Advisor - June/July 2010 - 77
Morningstar Advisor - June/July 2010 - 78
Morningstar Advisor - June/July 2010 - New at Morningstar
Morningstar Advisor - June/July 2010 - R-E-S-P-E-C-T
Morningstar Advisor - June/July 2010 - Cover3
Morningstar Advisor - June/July 2010 - Cover4
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