JPMorgan US Research Enhanced Index Equity Fund E Accumulation 

To provide capital growth and outperform the S & P 500 Index (Net of 15% withholding tax) (the “Benchmark”) over the long-term (5-10 years), after fees, by investing at least 80% of the Fund’s assets in a portfolio of US companies; the risk characteristics of the portfolio of securities held by the Fund will resemble the risk characteristics of the portfolio of securities held in the Benchmark. At least 80% of assets invested in equities of companies that are domiciled, or carrying out the main part of their economic activity, in the US. The Fund's outperformance relative to the Benchmark is constrained as the risk characteristics of the portfolio of securities held by the Fund resemble the risk characteristics of the portfolio of securities held in the Benchmark.