Fund
Name |
A |
C |
I |
L |
R2 |
R3 |
R4 |
R5 |
R6 |
JPMorgan
Developed
International
Value Fund
(“Developed
International
Value
Fund”) (formerly
JPMorgan
International
Value
Fund) |
JFEAX |
JIUCX |
JIESX |
JNUSX |
JPVZX |
|
|
JPVRX |
JNVMX |
JPMorgan
Emerging Markets
Equity
Fund (“Emerging
Markets
Equity Fund”) |
JFAMX |
JEMCX |
JEMSX |
JMIEX |
JHUJX |
JHURX |
JHUKX |
JEMOX |
JEMWX |
JPMorgan
Europe Dynamic
Fund
(“Europe Dynamic
Fund”) |
VEUAX |
VEUCX |
JFESX |
JFEIX |
|
|
|
|
VEUVX |
JPMorgan
International Equity
Fund
(“International Equity
Fund”) |
JSEAX |
JIECX |
VSIEX |
|
JIEZX |
|
|
JIERX |
JNEMX |
JPMorgan
International Focus
Fund
(“International Focus
Fund”) |
IUAEX |
IUCEX |
IUESX |
|
IUERX |
|
|
IUEFX |
IUENX |
|
|
|
|
|
|
|
|
|
|
Fund
Name |
A |
C |
I |
R5 |
R6 |
JPMorgan
Emerging Markets Research Enhanced Equity Fund
(“Emerging
Markets Research Enhanced Equity Fund”) |
|
|
EMREX |
|
EMRSX |
JPMorgan
International Hedged Equity Fund (“International Hedged
Equity
Fund”) |
JIHAX |
JIHCX |
JIHIX |
JIHYX |
JIHRX |
1 | |
1 | |
2 | |
2 | |
3 | |
3 | |
6 | |
7 | |
14 | |
14 | |
15 | |
15 | |
15 | |
16 | |
18 | |
18 | |
18 | |
18 | |
19 | |
20 | |
21 | |
21 | |
21 | |
21 | |
21 | |
22 | |
22 | |
23 | |
23 | |
23 | |
24 | |
24 | |
25 | |
25 | |
25 | |
25 | |
25 | |
26 | |
26 | |
26 | |
26 | |
28 | |
28 | |
28 | |
28 |
Fund |
Class
A |
Class
C |
Class
I |
Class
L |
Class
R2 |
Class
R3 |
Class
R4 |
Class
R5 |
Class
R6 |
Emerging
Markets Equity
Fund |
X |
X |
X |
X |
X |
X |
X |
X |
X |
Emerging
Markets Research
Enhanced
Equity Fund |
|
|
X |
|
|
|
|
|
X |
Europe
Dynamic Fund |
X |
X |
X |
X |
|
|
|
|
X |
International
Equity Fund |
X |
X |
X |
|
X |
|
|
X |
X |
International
Focus Fund
(formerly,
International
Unconstrained
Equity Fund) |
X |
X |
X |
|
X |
|
|
X |
X |
International
Hedged Equity
Fund |
X |
X |
X |
|
|
|
|
X |
X |
Developed
International Value
Fund |
X |
X |
X |
X |
X |
|
|
X |
X |
FUND
NAME |
FUND
CODE |
Emerging
Markets Equity Fund |
1 |
Emerging
Markets Research Enhanced Equity Fund |
2 |
Europe
Dynamic Fund |
3 |
International
Equity Fund |
4 |
International
Focus Fund |
5 |
International
Hedged Equity Fund |
6 |
Developed
International Value Fund |
7 |
Instrument |
Fund
Code |
Part
II
Section
Reference |
Adjustable
Rate Mortgage Loans (“ARMs”):
Loans in a
mortgage
pool which provide for a fixed initial mortgage
interest
rate for a specified period of time, after which the
rate
may be subject to periodic adjustments. |
3-4 |
Mortgage-Related
Securities |
Asset-Backed
Securities:
Securities secured by company
receivables,
home equity loans, truck and auto loans, leases,
and
credit card receivables or other securities backed by
other
types of receivables or other assets. |
3-4 |
Asset-Backed
Securities |
Auction
Rate Securities:
Auction rate municipal securities
and
auction rate preferred securities issued by closed-end
investment
companies. |
3-4 |
Auction
Rate
Securities |
Bank
Obligations: Bankers’
acceptances, certificates of
deposit
and time deposits. Bankers’ acceptances are bills of
exchange
or time drafts drawn on and accepted by a
commercial
bank. Maturities are generally six months or
less.
Certificates of deposit are negotiable certificates issued
by
a bank for a specified period of time and earning a
specified
return. Time deposits are non-negotiable receipt
issued
by a bank in exchange for the deposit of funds. |
1,
3-4, 6-7 |
Bank
Obligations |
Borrowings:
A Fund may borrow for temporary purposes
and/or
for investment purposes. Such a practice will result
in
leveraging of a Fund’s assets and may cause a Fund to
liquidate
portfolio positions when it would not be
advantageous
to do so. A Fund must maintain continuous
asset
coverage of 300% of the amount borrowed, with the
exception
for borrowings not in excess of 5% of the Fund’s
total
assets made for temporary administrative purposes. |
1-4,
6-7 |
Miscellaneous
Investment
Strategies
and Risks |
Brady
Bonds:
Securities created through the exchange of
existing
commercial bank loans to public and private entities
in
certain emerging markets for new bonds in connection
with
debt restructurings. |
1,
3-4, 6-7 |
Foreign
Investments
(including
Foreign
Currencies) |
Call
and Put Options:
A call option gives the buyer the right
to
buy, and obligates the seller of the option to sell, a
security
at a specified price at a future date. A put option
gives
the buyer the right to sell, and obligates the seller of
the
option to buy a security at a specified price at a future
date.
The Funds will sell only covered call and secured put
options. |
1,
3-7 |
Options
and Futures
Transactions |
Commercial
Paper:
Secured and unsecured short-term
promissory
notes issued by corporations and other entities.
Maturities
generally vary from a few days to nine months. |
1,
3-4, 7 |
Commercial
Paper |
Commodity-Linked
Derivatives:
Instruments whose value
derives
from the price of a commodity, including
commodity
futures and commodity options. |
1,
3-4, 7 |
Miscellaneous
Investment
Strategies
and Risks |
Common
Stock:
Shares of ownership of a company. |
1-7 |
Equity
Securities,
Warrants
and Rights |
Common
Stock, Warrants and Rights:
Securities, typically
issued
with preferred stock or bonds, that give the holder the
right
to buy a proportionate amount of common stock at a
specified
price. |
1-7 |
Equity
Securities,
Warrants
and Rights |
Convertible
Securities:
Bonds or preferred stock that can
convert
to common stock including contingent convertible
securities. |
1-7 |
Convertible
Securities |
Corporate
Debt Securities:
May include bonds and other
debt
securities of domestic and foreign issuers, including
obligations
of industrial, utility, banking and other corporate
issuers. |
1,
3-4, 7 |
Debt
Instruments |
Instrument |
Fund
Code |
Part
II
Section
Reference |
Credit
Default Swaps (“CDSs”):
A swap agreement
between
two parties pursuant to which one party pays the
other
a fixed periodic coupon for the specified life of the
agreement.
The other party makes no payment unless a
credit
event, relating to a predetermined reference asset,
occurs.
If such an event occurs, the party will then make a
payment
to the first party, and the swap will terminate. |
3-4 |
Swaps
and Related
Swap
Products |
Custodial
Receipts:
A Fund may acquire securities in the
form
of custodial receipts that evidence ownership of future
interest
payments, principal payments or both on certain
U.S.
Treasury notes or bonds in connection with programs
sponsored
by banks and brokerage firms. These are not
considered
to be U.S. government securities. These notes
and
bonds are held in custody by a bank on behalf of the
owners
of the receipts. |
3-4 |
Custodial
Receipts |
Demand
Features:
Securities that are subject to puts and
standby
commitments to purchase the securities at a fixed
price
(usually with accrued interest) within a fixed period of
time
following demand by a Fund. |
3-4 |
Demand
Features |
Emerging
Market Securities:
Securities issued by issuers or
governments
in countries with emerging economies or
securities
markets which may be undergoing significant
evolution
and rapid development. |
1-5,
7 |
Foreign
Investments
(including
Foreign
Currencies) |
Exchange-Traded
Fund (“ETFs”):
Ownership interest in
unit
investment trusts, depositary receipts, and other pooled
investment
vehicles that hold a portfolio of securities or
stocks
designed to track the price performance and dividend
yield
of a particular broad based, sector or international
index.
ETFs include a wide range of investments. |
1-7 |
Investment
Company
Securities
and
Exchange
Traded
Funds |
Foreign
Currency Transactions:
Strategies used to hedge
against
interest rate and currency risks, for other risk
management
purposes or to increase income or gain to a
Fund.
These strategies may consist of use of any of the
following:
options on currencies, currency futures, options
on
such futures, forward foreign currency transactions
(including
non-deliverable forwards (“NDFs”)), forward rate
agreements
and interest rate and currency swaps, caps and
floors. |
1-7 |
Foreign
Investments
(including
Foreign
Currencies) |
Foreign
Investments:
Equity and debt securities (e.g., bonds
and
commercial paper) of foreign entities and obligations of
foreign
branches of U.S. banks and foreign banks. Foreign
securities
may also include American Depositary Receipts
(“ADRs”),
Global Depositary Receipts (“GDRs”), European
Depositary
Receipts (“EDRs”) and American Depositary
Securities. |
1-7 |
Foreign
Investments
(including
Foreign
Currencies) |
High
Yield/High Risk Securities/Junk Bonds:
Securities that
are
generally rated below investment grade by the primary
rating
agencies or are unrated but are deemed by a Fund’s
adviser
to be of comparable quality. |
3-4 |
Debt
Instruments |
Inflation-Linked
Debt Securities:
Include fixed and floating
rate
debt securities of varying maturities issued by the U.S.
government
as well as securities issued by other entities
such
as corporations, foreign governments and foreign
issuers. |
3-4 |
Debt
Instruments |
Initial
Public Offerings (“IPOs”):
A transaction in which a
previously
private company makes its first sale of stock to
the
public. |
1-7 |
Equity
Securities,
Warrants
and Rights |
Instrument |
Fund
Code |
Part
II
Section
Reference |
Interfund
Lending:
Involves lending money and borrowing
money
for temporary purposes through a credit facility. |
1-5,
7 |
Miscellaneous
Investment
Strategies
and Risks |
Inverse
Floating Rate Instruments:
Leveraged variable debt
instruments
with interest rates that reset in the opposite
direction
from the market rate of interest to which the
inverse
floater is indexed. |
4 |
Inverse
Floating and
Interest
Rate Caps |
Investment
Company Securities: Shares
of other investment
companies,
including money market funds for which the
adviser
and/or its affiliates serve as investment adviser or
administrator.
The adviser will waive certain fees when
investing
in funds for which it serves as investment adviser,
to
the extent required by law or by contract. |
1-7 |
Investment
Company
Securities
and
Exchange
Traded
Funds |
Loan
Assignments and Participations:
Assignments of, or
participations
in all or a portion of loans to corporations or
to
governments, including governments in less developed
countries. |
3-4 |
Loans |
Master
Limited Partnerships:
Limited partnerships that are
publicly
traded on a securities exchange. |
1,
3-4, 7 |
Master
Limited
Partnerships |
Mortgages
(Directly Held):
Debt instruments secured by
real
property. |
3-4 |
Mortgage-Related
Securities |
Mortgage-Backed
Securities:
Debt obligations secured by
real
estate loans and pools of loans, such as collateralized
mortgage
obligations (“CMOs”), commercial mortgage-
backed
securities (“CMBSs”), and other asset-backed
structures. |
3-4 |
Mortgage-Related
Securities |
Mortgage
Dollar Rolls:
A transaction in which a Fund sells
securities
for delivery in a current month and
simultaneously
contracts with the same party to repurchase
similar
but not identical securities on a specified future
date. |
3-4 |
Mortgage-Related
Securities |
Municipal
Securities: Securities
issued by a state or political
subdivision
to obtain funds for various public purposes.
Municipal
securities include private activity bonds and
industrial
development bonds, as well as general obligation
notes,
tax anticipation notes, bond anticipation notes,
revenue
anticipation notes, other short-term tax-exempt
obligations,
municipal leases, obligations of municipal
housing
authorities and single family revenue bonds. |
3-4 |
Municipal
Securities |
New
Financial Products:
New options and futures contracts
and
other financial products continue to be developed, and a
Fund
may invest in such options, contracts and products. |
1-5,
7 |
Miscellaneous
Investment
Strategies
and Risks |
Obligations
of Supranational Agencies:
Obligations which
are
chartered to promote economic development and are
supported
by various governments and governmental
agencies. |
1,
3-4, 7 |
Foreign
Investments
(including
Foreign
Currencies) |
Options
and Futures Transactions:
A Fund may purchase
and
sell (a) exchange traded and over-the-counter put and
call
options on securities, indexes of securities and futures
contracts
on securities and indexes of securities, and (b)
futures
contracts on securities and indexes of securities. |
1-7 |
Options
and Futures
Transactions |
Preferred
Stock:
A class of stock that generally pays a
dividend
at a specified rate and has preference over common
stock
in the payment of dividends and in liquidation. |
1-7 |
Equity
Securities,
Warrants
and Rights |
Private
Placements, Restricted Securities and Other
Unregistered
Securities:
Securities not registered under the
Securities
Act of 1933, such as privately placed commercial
paper
and Rule 144A securities. |
1-7 |
Miscellaneous
Investment
Strategies
and Risks |
Instrument |
Fund
Code |
Part
II
Section
Reference |
Real
Estate Investment Trusts (“REITs”): Pooled
investment
vehicles
which invest primarily in income producing real
estate
or real estate related loans or interest. |
1-7 |
Real
Estate
Investment
Trusts |
Repurchase
Agreements:
The purchase of a security and the
simultaneous
commitment to return the security to the seller
at
an agreed upon price on an agreed upon date. This is
treated
as a loan. |
1,
3-4, 7 |
Repurchase
Agreements |
Reverse
Repurchase Agreements: The
sale of a security and
the
simultaneous commitment to buy the security back at an
agreed
upon price on an agreed upon date. This is treated as
a
borrowing by a Fund. |
1,
3-4, 7 |
Reverse
Repurchase
Agreements |
Securities
Issued in Connection with Reorganizations and
Corporate
Restructurings:
In connection with reorganizing
or
restructuring of an issuer, an issuer may issue common
stock
or other securities to holders of its debt
securities. |
1,
3-5, 7 |
Miscellaneous
Investment
Strategies
and Risks |
Securities
Lending:
The lending of up to 33 1∕3%
of a Fund’s
total
assets. In return, a Fund will receive cash, other
securities,
and/or letters of credit as collateral. |
1-7 |
Securities
Lending |
Short
Selling: A
Fund sells a security it does not own in
anticipation
of a decline in the market value of the security.
To
complete the transaction, a Fund must borrow the
security
to make delivery to the buyer. A Fund is obligated
to
replace the security borrowed by purchasing it
subsequently
at the market price at the time of replacement. |
1,
3-4, 7 |
Short
Selling |
Short-Term
Funding Agreements:
Agreements issued by
banks
and highly rated U.S. insurance companies such as
Guaranteed
Investment Contracts (“GICs”) and Bank
Investment
Contracts (“BICs”). |
1,
3-4, 7 |
Short-Term
Funding
Agreements |
Sovereign
Obligations:
Investments in debt obligations
issued
or guaranteed by a foreign sovereign government or
its
agencies, authorities or political subdivisions. |
1,
3-4, 7 |
Foreign
Investments
(including
Foreign
Currencies) |
Stripped
Mortgage-Backed Securities:
Derivative multi-
class
mortgage securities which are usually structured with
two
classes of shares that receive different proportions of the
interest
and principal from a pool of mortgage assets. These
include
Interest- Only (“IO”) and Principal-Only (“PO”)
securities
issued outside a Real Estate Mortgage Investment
Conduit
(“REMIC”) or CMO structure. |
3-4 |
Mortgage-Related
Securities |
Structured
Investments:
A security having a return tied to an
underlying
index or other security or asset class. Structured
investments
generally are individually negotiated
agreements
and may be traded over-the-counter. Structured
investments
are organized and operated to restructure the
investment
characteristics of the underlying index,
commodity,
currency or financial instrument. |
1-4,
7 |
Structured
Investments |
Swaps
and Related Swap Products:
Swaps involve an
exchange
of obligations by two parties. Caps and floors
entitle
a purchaser to a principal amount from the seller of
the
cap or floor to the extent that a specified index exceeds
or
falls below a predetermined interest rate or amount. A
Fund
may enter into these transactions to manage its
exposure
to changing interest rates and other factors. |
3-4,
7 |
Swaps
and Related
Swap
Products |
Instrument |
Fund
Code |
Part
II
Section
Reference |
Synthetic
Variable Rate Instruments:
Instruments that
generally
involve the deposit of a long-term tax exempt
bond
in a custody or trust arrangement and the creation of a
mechanism
to adjust the long-term interest rate on the bond
to
a variable short-term rate and a right (subject to certain
conditions)
on the part of the purchaser to tender it
periodically
to a third party at par. |
3-5,
7 |
Swaps
and Related
Swap
Products |
Temporary
Defensive Positions:
To respond to unusual
circumstances,
a Fund may invest in cash and cash
equivalents
for temporary defensive purposes. |
1-7 |
Miscellaneous
Investment
Strategies
and Risks |
Treasury
Receipts: A
Fund may purchase interests in
separately
traded interest and principal component parts of
U.S.
Treasury obligations that are issued by banks or
brokerage
firms and that are created by depositing U.S.
Treasury
notes and U.S. Treasury bonds into a special
account
at a custodian bank. Receipts include Treasury
Receipts
(“TRs”), Treasury Investment Growth Receipts
(“TIGRs”),
and Certificates of Accrual on Treasury
Securities
(“CATS”). |
1,
3-4, 7 |
Treasury
Receipts |
U.S.
Government Agency Securities:
Securities issued by
agencies
and instrumentalities of the U.S. government.
These
include all types of securities issued by the
Government
National Mortgage Association (“Ginnie
Mae”),
the Federal National Mortgage Association (“Fannie
Mae”)
and the Federal Home Loan Mortgage Corporation
(“Freddie
Mac”), including funding notes, subordinated
benchmark
notes, CMOs and REMICs. |
1,
3-5, 7 |
Mortgage-Related
Securities |
U.S.
Government Obligations:
May include direct
obligations
of the U.S. Treasury, including Treasury bills,
notes
and bonds, all of which are backed as to principal and
interest
payments by the full faith and credit of the United
States,
and separately traded principal and interest
component
parts of such obligations that are transferable
through
the Federal book-entry system known as Separate
Trading
of Registered Interest and Principal of Securities
(“STRIPS”)
and Coupon Under Book-Entry Safekeeping
(“CUBES”). |
1,
3-5, 7 |
U.S.
Government
Obligations |
Variable
and Floating Rate Instruments:
Obligations with
interest
rates which are reset daily, weekly, quarterly or some
other
frequency and which may be payable to a Fund on
demand
or at the expiration of a specified term. |
3-4 |
Debt
Instruments |
When-Issued
Securities, Delayed Delivery Securities and
Forward
Commitments:
Purchase or contract to purchase
securities
at a fixed price for delivery at a future date. |
1,
3-5, 7 |
When-Issued
Securities,
Delayed
Delivery
Securities
and
Forward
Commitments |
Zero-Coupon,
Pay-in-Kind and Deferred Payment
Securities:
Zero-coupon securities are securities that are
sold
at a discount to par value and on which interest
payments
are not made during the life of the security. Pay-
in-kind
securities are securities that have interest payable by
delivery
of additional securities. Deferred payment
securities
are zero-coupon debt securities which convert on
a
specified date to interest bearing debt securities. |
3-4 |
Debt
Instruments |
|
Fiscal
Year Ended October 31, | |
Fund |
2022 |
2023 |
Developed
International Value Fund |
26% |
34% |
Emerging
Markets Equity Fund |
18% |
29% |
Emerging
Markets Research Enhanced Equity Fund |
34% |
29% |
Europe
Dynamic Fund |
75% |
102% |
International
Equity Fund |
31% |
45% |
International
Focus Fund |
30% |
36% |
International
Hedged Equity Fund |
17% |
22% |
Committee |
Fiscal
Year Ended
October
31, 2023 |
Audit
and Valuation Committee |
4 |
Compliance
Committee |
4 |
Governance
Committee |
5 |
Equity
Committee |
7 |
ETF
Committee |
4 |
Fixed
Income Committee |
6 |
Money
Market and Alternative Products Committee |
6 |
Name
of Trustee |
Dollar
Range
of
Equity
Securities
in
Developed
International
Value
Fund |
Dollar
Range
of
Equity
Securities
in
Emerging
Markets
Equity
Fund |
Dollar
Range
of
Equity
Securities
in
Emerging
Markets
Research
Enhanced
Equity
Fund |
Dollar
Range
of
Equity
Securities
in
Europe
Dynamic
Fund |
Dollar
Range
of
Equity
Securities
in
International
Equity
Fund |
Independent
Trustees |
|
|
|
|
|
John
F. Finn |
None |
None |
None |
None |
None |
Stephen
P. Fisher |
None |
None |
None |
None |
None |
Gary
L. French |
None |
None |
$50,001–
$100,000 |
None |
None |
Kathleen
M. Gallagher |
None |
None |
None |
None |
None |
Robert
J. Grassi |
None |
None |
None |
None |
None |
Frankie
D. Hughes |
None |
None |
None |
None |
None |
Raymond
Kanner |
None |
None |
None |
None |
None |
Thomas
P. Lemke |
None |
None |
$10,001–
$50,000 |
None |
$10,001–
$50,000 |
Lawrence
R. Maffia |
None |
None |
None |
None |
None |
Mary
E. Martinez |
None |
None |
None |
None |
None |
Marilyn
McCoy |
None |
None |
None |
None |
None |
Dr.
Robert A. Oden, Jr. |
None |
None |
None |
None |
None |
Marian
U. Pardo |
None |
None |
None |
None |
None |
Emily
A. Youssouf |
None |
None |
None |
None |
None |
Interested
Trustees |
|
|
|
|
|
Robert
Deutsch |
None |
None |
None |
None |
None |
Nina
O. Shenker |
None |
None |
None |
None |
None |
Name
of Trustee |
Dollar
Range
of
Equity
Securities
in
International
Focus
Fund |
Dollar
Range
of
Equity
Securities
in
International
Hedged
Equity
Fund |
Aggregate
Dollar
Range
of
Equity
Securities
in
All
Registered
Investment
Companies
Overseen
by the
Trustee
in
Family
of
Investment
Companies1,2 |
Independent
Trustees |
|
|
|
John
F. Finn |
Over
$100,000 |
None |
Over
$100,000 |
Stephen
P. Fisher |
None |
None |
Over
$100,000 |
Gary
L. French |
None |
None |
Over
$100,000 |
Kathleen
M. Gallagher |
None |
None |
Over
$100,000 |
Robert
J. Grassi |
None |
None |
Over
$100,000 |
Frankie
D. Hughes |
None |
None |
Over
$100,000 |
Raymond
Kanner |
None |
None |
Over
$100,000 |
Thomas
P. Lemke |
None |
None |
Over
$100,000 |
Lawrence
R. Maffia |
None |
None |
Over
$100,000 |
Mary
E. Martinez |
None |
None |
Over
$100,000 |
Marilyn
McCoy |
None |
None |
Over
$100,000 |
Dr.
Robert A. Oden, Jr. |
None |
None |
Over
$100,000 |
Marian
U. Pardo |
None |
None |
Over
$100,000 |
Emily
A. Youssouf |
None |
None |
Over
$100,000 |
Interested
Trustees |
|
|
|
Robert
Deutsch |
None |
None |
Over
$100,000 |
Nina
O. Shenker |
None |
None |
Over
$100,000 |
Name
of Trustee |
Developed
International
Value
Fund |
Emerging
Markets
Equity
Fund |
Emerging
Markets
Research
Enhanced
Equity
Fund |
Europe
Dynamic
Fund |
International
Equity
Fund |
Independent
Trustees |
|
|
|
|
|
John
F. Finn |
$1,730 |
$4,552 |
$2,397 |
$1,781 |
$3,180 |
Stephen
P. Fisher |
1,657 |
3,252 |
2,035 |
1,686 |
2,477 |
Gary
L. French |
1,630 |
2,769 |
1,900 |
1,651 |
2,215 |
Kathleen
M. Gallagher |
1,657 |
3,252 |
2,035 |
1,686 |
2,477 |
Robert
J. Grassi |
1,630 |
2,770 |
1,900 |
1,651 |
2,215 |
Frankie
D. Hughes |
1,630 |
2,770 |
1,900 |
1,651 |
2,215 |
Raymond
Kanner |
1,657 |
3,252 |
2,035 |
1,686 |
2,477 |
Thomas
P. Lemke |
1,630 |
2,769 |
1,900 |
1,651 |
2,215 |
Lawrence
R. Maffia |
1,630 |
2,770 |
1,900 |
1,651 |
2,215 |
Mary
E. Martinez |
1,688 |
3,809 |
2,190 |
1,727 |
2,778 |
Marilyn
McCoy |
1,630 |
2,770 |
1,900 |
1,651 |
2,215 |
Dr.
Robert A. Oden, Jr. |
1,657 |
3,252 |
2,035 |
1,686 |
2,477 |
Marian
U. Pardo |
1,657 |
3,252 |
2,035 |
1,686 |
2,477 |
Emily
A. Youssouf |
1,630 |
2,769 |
1,900 |
1,651 |
2,215 |
Interested
Trustees |
|
|
|
|
|
Robert
Deutsch |
1,657 |
3,252 |
2,035 |
1,686 |
2,477 |
Nina
O. Shenker8 |
1,630 |
2,770 |
1,900 |
1,651 |
2,215 |
Name
of Trustee |
International
Focus
Fund |
International
Hedged
Equity
Fund |
Total
Compensation
Paid
From
Fund
Complex1 |
Independent
Trustees |
|
|
|
John
F. Finn |
$2,070 |
$1,618 |
$660,000 |
Stephen
P. Fisher |
1,849 |
1,594 |
485,000 |
Gary
L. French |
1,767 |
1,585 |
420,0002 |
Kathleen
M. Gallagher |
1,849 |
1,594 |
485,0003 |
Robert
J. Grassi |
1,767 |
1,585 |
420,000 |
Frankie
D. Hughes |
1,767 |
1,585 |
420,000 |
Raymond
Kanner |
1,849 |
1,594 |
485,0004 |
Thomas
P. Lemke |
1,767 |
1,585 |
420,0005 |
Lawrence
R. Maffia |
1,767 |
1,585 |
420,000 |
Mary
E. Martinez |
1,944 |
1,604 |
560,000 |
Marilyn
McCoy |
1,767 |
1,585 |
420,0006 |
Dr.
Robert A. Oden, Jr. |
1,849 |
1,594 |
485,000 |
Marian
U. Pardo |
1,849 |
1,594 |
485,000 |
Emily
A. Youssouf |
1,767 |
1,585 |
420,0002 |
Interested
Trustees |
|
|
|
Robert
Deutsch |
1,849 |
1,594 |
485,0007 |
Nina
O. Shenker8 |
1,767 |
1,585 |
420,0006 |
|
Fiscal
Year Ended | |||||
|
October
31, 2021 |
October
31, 2022 |
October
31, 2023 | |||
Fund |
Paid |
Waived |
Paid |
Waived |
Paid |
Waived |
Developed
International Value Fund |
$1,574 |
$(425) |
$1,632 |
$(477) |
$1,845 |
$(592) |
Emerging
Markets Equity Fund |
97,214 |
(744) |
68,175 |
(1,359) |
53,558 |
(1,078) |
Emerging
Markets Research Enhanced
Equity
Fund |
7,885 |
(1,087) |
6,924 |
(1,114) |
4,779 |
(983) |
Europe
Dynamic Fund |
4,542 |
(19) |
4,465 |
(35) |
3,508 |
(22) |
International
Equity Fund |
18,555 |
(2,718) |
19,350 |
(2,889) |
18,800 |
(2,892) |
International
Focus Fund |
18,119 |
(3,457) |
11,212 |
(2,466) |
6,716 |
(1,384) |
International
Hedged Equity Fund |
162 |
(160) |
183 |
(235) |
185 |
(193) |
|
Non-Performance
Based Fee Advisory Accounts | |||||
|
Registered
Investment
Companies |
Other
Pooled Investment
Vehicles |
Other
Accounts | |||
|
Number
of
Accounts |
Total
Assets
($thousands) |
Number
of
Accounts |
Total
Assets
($thousands) |
Number
of
Accounts |
Total
Assets
($thousands) |
Emerging
Markets Equity Fund |
|
|
|
|
| |
Leon
Eidelman |
2 |
339,996 |
8 |
14,852,899 |
17 |
4,381,792 |
Austin
Forey |
3 |
370,456 |
10 |
15,928,234 |
21 |
6,637,204 |
Amit
Mehta |
1 |
272,596 |
10 |
5,302,151 |
9 |
1,647,130 |
Emerging
Markets Research Enhanced Equity Fund |
|
|
|
|
| |
Lina
Nassar |
2 |
38,766 |
5 |
2,809,182 |
6 |
643,602 |
Sonal
Tanna |
5 |
222,941 |
14 |
5,858,696 |
20 |
3,631,335 |
Europe
Dynamic Fund |
|
|
|
|
| |
Jonathan
Ingram |
3 |
570,266 |
7 |
2,231,776 |
4 |
588,829 |
John
Baker |
3 |
570,266 |
7 |
1,958,559 |
5 |
1,621,343 |
Blake
Crawford |
3 |
570,266 |
5 |
1,242,200 |
4 |
588,829 |
Alexander
Whyte |
2 |
70,530 |
7 |
2,464,342 |
2 |
250,186 |
International
Equity Fund |
|
|
|
|
| |
Thomas
Murray |
14 |
2,871,661 |
6 |
1,923,912 |
53 |
6,728,500 |
Shane
Duffy |
12 |
2,746,650 |
6 |
1,923,912 |
24 |
5,509,149 |
James
Sutton |
2 |
183,414 |
4 |
1,618,781 |
4 |
2,063,840 |
Zenah
Shuhaiber |
1 |
1,296 |
6 |
2,141,336 |
13 |
3,558,176 |
International
Focus Fund |
|
|
|
|
|
|
Shane
Duffy |
12 |
5,345,787 |
6 |
1,923,912 |
24 |
5,509,149 |
Thomas
Murray |
14 |
5,470,798 |
6 |
1,923,912 |
53 |
6,728,500 |
International
Hedged Equity Fund |
|
|
|
|
| |
Hamilton
Reiner |
9 |
65,102,985 |
5 |
544,574 |
0 |
0 |
Piera
Elisa Grassi |
2 |
5,086,504 |
16 |
11,906,824 |
8 |
5,611,242 |
Nicholas
Farserotu |
2 |
5,086,504 |
7 |
2,978,369 |
7 |
2,789,029 |
Winnie
Cheung |
2 |
5,086,504 |
7 |
2,544,368 |
7 |
2,789,029 |
Developed
International Value Fund |
|
|
|
|
| |
Ian
Butler |
1 |
11,503 |
4 |
1,935,350 |
2 |
217,513 |
|
Non-Performance
Based Fee Advisory Accounts | |||||
|
Registered
Investment
Companies |
Other
Pooled Investment
Vehicles |
Other
Accounts | |||
|
Number
of
Accounts |
Total
Assets
($thousands) |
Number
of
Accounts |
Total
Assets
($thousands) |
Number
of
Accounts |
Total
Assets
($thousands) |
Thomas
Buckingham |
2 |
534,372 |
11 |
3,611,013 |
2 |
217,513 |
Kyle
Williams |
1 |
11,503 |
1 |
46,107 |
0 |
0 |
Michael
Barakos |
2 |
534,372 |
11 |
5,842,043 |
0 |
0 |
|
Performance
Based Fee Advisory Accounts | |||||
|
Registered
Investment
Companies |
Other
Pooled Investment
Vehicles |
Other
Accounts | |||
|
Number
of
Accounts |
Total
Assets
($thousands) |
Number
of
Accounts |
Total
Assets
($thousands) |
Number
of
Accounts |
Total
Assets
($thousands) |
Emerging
Markets Equity Fund |
|
|
|
|
| |
Leon
Eidelman |
0 |
$0 |
0 |
$0 |
6 |
$2,530,076 |
Austin
Forey |
0 |
0 |
0 |
0 |
7 |
2,652,712 |
Amit
Mehta |
0 |
0 |
0 |
0 |
0 |
0 |
Emerging
Markets Research Enhanced Equity Fund |
|
|
|
|
| |
Lina
Nassar |
0 |
0 |
0 |
0 |
0 |
0 |
Sonal
Tanna |
0 |
0 |
0 |
0 |
5 |
901,172 |
Europe
Dynamic Fund |
|
|
|
|
| |
Jonathan
Ingram |
0 |
0 |
0 |
0 |
5 |
454,062 |
John
Baker |
0 |
0 |
0 |
0 |
5 |
454,062 |
Blake
Crawford |
0 |
0 |
0 |
0 |
3 |
222,826 |
Alexander
Whyte |
0 |
0 |
0 |
0 |
5 |
454,062 |
International
Equity Fund |
|
|
|
|
| |
Thomas
Murray |
0 |
0 |
0 |
0 |
3 |
572,201 |
Shane
Duffy |
0 |
0 |
0 |
0 |
4 |
835,082 |
James
Sutton |
0 |
0 |
0 |
0 |
0 |
0 |
Zenah
Shuhaiber |
0 |
0 |
0 |
0 |
1 |
100,511 |
International
Focus Fund |
|
|
|
|
|
|
Shane
Duffy |
0 |
0 |
0 |
0 |
4 |
835,082 |
Thomas
Murray |
0 |
0 |
0 |
0 |
3 |
572,201 |
International
Hedged Equity Fund |
|
|
|
|
| |
Hamilton
Reiner |
0 |
0 |
0 |
0 |
0 |
0 |
Piera
Elisa Grassi |
0 |
0 |
0 |
0 |
2 |
843,500 |
Nicholas
Farserotu |
0 |
0 |
0 |
0 |
1 |
242,050 |
Winnie
Cheung |
0 |
0 |
0 |
0 |
1 |
242,050 |
Developed
International Value Fund |
|
|
|
|
| |
Ian
Butler |
0 |
0 |
0 |
0 |
0 |
0 |
Thomas
Buckingham |
0 |
0 |
0 |
0 |
0 |
0 |
Kyle
Williams |
0 |
0 |
0 |
0 |
1 |
144,745 |
Michael
Barakos |
0 |
0 |
0 |
0 |
2 |
1,094,118 |
|
Dollar
Range of Securities in the Fund | ||||||
Fund
Name |
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 |
Emerging
Markets Equity Fund |
|
|
|
|
|
|
|
Leon
Eidelman |
|
|
|
|
|
|
X |
Austin
Forey |
X |
|
|
|
|
|
|
Amit
Mehta |
X |
|
|
|
|
|
|
Emerging
Markets Research
Enhanced
Equity Fund |
|
|
|
|
|
|
|
Lina
Nassar(1)
|
X |
|
|
|
|
|
|
Sonal
Tanna(1) |
X |
|
|
|
|
|
|
Europe
Dynamic Fund |
|
|
|
|
|
|
|
Jonathan
Ingram(1)
|
X |
|
|
|
|
|
|
John
Baker(1)
|
X |
|
|
|
|
|
|
Blake
Crawford(1)
|
X |
|
|
|
|
|
|
Alexander
Whyte |
X |
|
|
|
|
|
|
International
Equity Fund |
|
|
|
|
|
|
|
Thomas
Murray |
|
|
|
|
|
X |
|
Shane
Duffy |
|
|
|
|
|
X |
|
James
Sutton |
|
|
X |
|
|
|
|
Zenah
Shuhaiber |
X |
|
|
|
|
|
|
International
Focus |
|
|
|
|
|
|
|
Fund |
|
|
|
|
|
|
|
Shane
Duffy |
|
|
|
|
X |
|
|
Thomas
Murray |
|
|
|
|
|
|
X |
International
Hedged Equity Fund |
|
|
|
|
|
|
|
Hamilton
Reiner |
|
|
X |
|
|
|
|
Piera
Elisa Grassi |
X |
|
|
|
|
|
|
Nicholas
Farserotu |
X |
|
|
|
|
|
|
Winnie
Cheung |
X |
|
|
|
|
|
|
Developed
International Value Fund |
|
|
|
|
|
|
|
Ian
Butler |
|
|
|
|
X |
|
|
Thomas
Buckingham |
|
|
|
|
X |
|
|
Kyle
Williams |
|
|
|
|
X |
|
|
Michael
Barakos |
|
|
|
|
|
|
X |
Name
of Fund |
Benchmark |
Emerging
Markets Equity Fund |
MSCI
Emerging Markets Index (net total return) |
Emerging
Markets Research Enhanced Equity
Fund |
MSCI
Emerging Markets Index (net total return) |
Europe
Dynamic Fund |
MSCI
Europe Index (net total return) |
International
Equity Fund |
MSCI
EAFE Index (net total return) |
International
Focus Fund |
MSCI
All Country World Index, ex-U.S. (net total
return) |
International
Hedged Equity Fund |
MSCI
EAFE Index (net total return) |
Developed
International Value Fund |
MSCI
EAFE Value Index (net total
return) |
|
Fiscal
Year Ended | |||||
|
October
31, 2021 |
October
31, 2022 |
October
31, 2023 | |||
Fund |
Paid |
Waived |
Paid |
Waived |
Paid |
Waived |
Developed
International Value Fund |
$27 |
$(246) |
$21 |
$(267) |
$4 |
$(328) |
Emerging
Markets Equity Fund |
9,428 |
(336) |
6,536 |
(817) |
5,453 |
(573) |
Emerging
Markets Research Enhanced
Equity
Fund |
2,002 |
(689) |
1,719 |
(692) |
1,101 |
(628) |
Europe
Dynamic Fund |
570 |
— |
562 |
— |
441 |
— |
International
Equity Fund |
1,443 |
(1,748) |
1,523 |
(1,813) |
1,449 |
(1,805) |
International
Focus Fund |
451 |
(2,246) |
205 |
(1,505) |
140 |
(873) |
International
Hedged Equity Fund |
11 |
(86) |
4 |
(122) |
20 |
(94) |
|
Fiscal
Year Ended | ||
Fund |
October
31, 2021 |
October
31, 2022 |
October
31, 2023 |
Developed
International Value Fund |
$20 |
$20 |
$20 |
Emerging
Markets Equity Fund |
360 |
218 |
238 |
Emerging
Markets Research Enhanced Equity Fund |
89 |
80 |
58 |
Europe
Dynamic Fund |
22 |
22 |
20 |
International
Equity Fund |
107 |
111 |
111 |
International
Focus Fund |
90 |
53 |
36 |
International
Hedged Equity Fund |
20 |
20 |
20 |
|
Emerging
Markets
Equity
Fund |
Emerging
Markets
Research
Enhanced
Equity
Fund |
Europe
Dynamic
Fund |
Gross
Income from Securities Lending Activities1 |
$578,729 |
$652,849 |
$615,316 |
Fees
and/or Compensation for Securities Lending
Activities |
|
|
|
Revenue
Split2 |
10,497 |
10,120 |
15,189 |
Cash
Collateral Management Fees3 |
8,125 |
11,365 |
10,348 |
Administrative
Fees |
— |
— |
— |
Indemnification
Fees |
— |
— |
— |
Rebates
to Borrowers |
436,106 |
513,365 |
397,779 |
Others
Fees |
— |
— |
— |
Aggregate
Fees/Compensation for Securities Lending
Activities |
454,729 |
534,849 |
423,316 |
Net
Income from the Securities Lending Activities |
124,000 |
118,000 |
192,000 |
|
International
Equity
Fund |
International
Focus
Fund |
Developed
International
Value
Fund |
Gross
Income from Securities Lending Activities1 |
$3,645,637 |
$851,114 |
$105,881 |
Fees
and/or Compensation for Securities Lending
Activities |
|
|
|
Revenue
Split2 |
85,872 |
13,224 |
2,799 |
Cash
Collateral Management Fees3 |
60,986 |
16,107 |
1,931 |
Administrative
Fees |
— |
— |
— |
Indemnification
Fees |
— |
— |
— |
Rebates
to Borrowers |
2,508,779 |
653,784 |
61,150 |
Others
Fees |
— |
— |
1 |
Aggregate
Fees/Compensation for Securities Lending Activities |
2,655,637 |
683,114 |
65,881 |
Net
Income from the Securities Lending Activities |
990,000 |
168,000 |
40,000 |
Fund |
Total
Underwriting
Discounts
and
Commissions |
Compensation
on
Redemptions
and
Repurchases |
Brokerage
Commissions |
Other
Compensation* |
Developed
International Value Fund |
$32,457 |
$4,310 |
$— |
$509,944 |
Emerging
Markets Equity Fund |
5,442 |
869 |
— |
1,260,581 |
Emerging
Markets Research Enhanced
Equity
Fund |
— |
— |
— |
— |
Europe
Dynamic Fund |
1,674 |
194 |
29 |
218,657 |
International
Equity Fund |
33,840 |
4,655 |
— |
1,015,662 |
International
Hedged Equity Fund |
410 |
— |
— |
26,036 |
International
Focus Fund |
55,499 |
11,384 |
— |
855,330 |
Fund |
Fiscal
Year Ended | ||
October
31, 2021 |
October
31, 2022 |
October
31, 2023 | |
Developed
International Value Fund |
$41,477 |
$35,108 |
$32,457 |
Emerging
Markets Equity Fund |
65,178 |
9,593 |
5,442 |
Emerging
Markets Research Enhanced Equity Fund |
— |
— |
— |
Europe
Dynamic Fund |
3,083 |
1,690 |
1,674 |
International
Equity Fund |
83,581 |
36,640 |
33,840 |
International
Hedged Equity Fund |
1,452 |
1,589 |
410 |
International
Focus Fund |
118,358 |
66,829 |
55,499 |
|
Fiscal
Year Ended | |||||
|
October
31, 2021 |
October
31, 2022 |
October
31, 2023 | |||
Fund |
Paid |
Waived |
Paid |
Waived |
Paid |
Waived |
Developed
International Value Fund | ||||||
Class
A Shares |
$432 |
$— |
$441 |
$— |
$493 |
$— |
Class
C Shares |
34 |
— |
20 |
— |
14 |
— |
Class
R2 Shares |
3 |
— |
2 |
— |
3 |
— |
Emerging
Markets Equity Fund | ||||||
Class
A Shares |
1,837 |
— |
1,274 |
— |
955 |
— |
Class
C Shares |
689 |
— |
418 |
— |
272 |
— |
Class
R2 Shares |
3 |
— |
2 |
— |
3 |
— |
Class
R3 Shares |
30 |
— |
32 |
— |
31 |
— |
Europe
Dynamic Fund | ||||||
Class
A Shares |
216 |
— |
188 |
— |
184 |
— |
Class
C Shares |
93 |
— |
58 |
— |
35 |
— |
International
Equity Fund | ||||||
Class
A Shares |
952 |
— |
933 |
— |
906 |
— |
Class
C Shares |
82 |
— |
64 |
— |
47 |
— |
Class
R2 Shares |
126 |
— |
104 |
— |
63 |
|
International
Focus Fund | ||||||
Class
A Shares |
627 |
— |
710 |
— |
734 |
— |
Class
C Shares |
160 |
— |
143 |
— |
113 |
— |
Class
R2 Shares |
10 |
— |
9 |
— |
8 |
— |
International
Hedged Equity Fund | ||||||
Class
A Shares |
6 |
— |
11 |
— |
24 |
— |
Class
C Shares |
1 |
— |
2 |
— |
2 |
— |
Class
A, Class C, Class I, Class R2, Class R3 and Class R4 |
Up
to 0.25% |
Class
L and Class R5 |
Up
to Up
to 0.10% |
|
Fiscal
Year Ended | |||||
|
October
31, 2021 |
October
31, 2022 |
October
31, 2023 | |||
Fund |
Paid |
Waived |
Paid |
Waived |
Paid |
Waived |
Developed
International Value Fund | ||||||
Class
A Shares |
$334 |
$(98) |
$339 |
$(102) |
$384 |
$(109) |
Class
C Shares |
7 |
(4) |
5 |
(2) |
3 |
(2) |
Class
I Shares |
68 |
(21) |
70 |
(20) |
67 |
(21) |
Class
L Shares |
8 |
— |
6 |
— |
7 |
— |
Class
R2 Shares |
1 |
(1) |
2 |
(1) |
1 |
—* |
Class
R5 Shares |
—* |
—* |
—* |
—* |
—* |
—* |
|
Fiscal
Year Ended | |||||
|
October
31, 2021 |
October
31, 2022 |
October
31, 2023 | |||
Fund |
Paid |
Waived |
Paid |
Waived |
Paid |
Waived |
Emerging
Markets Equity Fund | ||||||
Class
A Shares |
$1,438 |
$(399) |
$986 |
$(288) |
$742 |
$(213) |
Class
C Shares |
179 |
(51) |
108 |
(32) |
70 |
(21) |
Class
I Shares |
10,112 |
(2,578) |
6,225 |
(1,651) |
3,948 |
(1,043) |
Class
L Shares |
2,583 |
— |
1,906 |
— |
1,413 |
— |
Class
R2 Shares |
—* |
(1) |
—* |
(1) |
—* |
(1) |
Class
R3 Shares |
30 |
—* |
31 |
(1) |
31 |
—* |
Class
R4 Shares |
10 |
—* |
8 |
—* |
7 |
—* |
Class
R5 Shares |
49 |
(6) |
15 |
(1) |
14 |
(1) |
Emerging
Markets Research Enhanced Equity Fund | ||||||
Class
I Shares |
3 |
(6) |
151 |
(264) |
187 |
(347) |
Europe
Dynamic Fund | ||||||
Class
A Shares |
197 |
(19) |
169 |
(19) |
169 |
(15) |
Class
C Shares |
27 |
(4) |
18 |
(2) |
9 |
(2) |
Class
I Shares |
540 |
(19) |
462 |
(26) |
262 |
(9) |
Class
L Shares |
77 |
— |
74 |
— |
14 |
— |
International
Equity Fund | ||||||
Class
A Shares |
739 |
(213) |
727 |
(206) |
707 |
(199) |
Class
C Shares |
19 |
(8) |
15 |
(7) |
11 |
(5) |
Class
I Shares |
950 |
(267) |
1,179 |
(320) |
1,315 |
(360) |
Class
R2 Shares |
40 |
(23) |
31 |
(21) |
17 |
(14) |
Class
R5 Shares |
9 |
(1) |
9 |
—* |
8 |
—* |
International
Focus Fund | ||||||
Class
A Shares |
485 |
(142) |
565 |
(145) |
583 |
(151) |
Class
C Shares |
38 |
(15) |
35 |
(13) |
27 |
(11) |
Class
I Shares |
1,250 |
(345) |
1,284 |
(344) |
1,079 |
(300) |
Class
R2 Shares |
5 |
—* |
3 |
(1) |
3 |
(1) |
Class
R5 Shares |
1 |
(2) |
1 |
(1) |
1 |
(2) |
International
Hedged Equity Fund | ||||||
Class
A Shares |
6 |
—* |
11 |
—* |
24 |
—* |
Class
C Shares |
—* |
—* |
1 |
—* |
1 |
—* |
Class
I Shares |
316 |
— |
406 |
— |
352 |
—* |
Class
R5 Shares |
—* |
—* |
—* |
—* |
— |
—* |
Developed
International Value
Fund |
|
Fiscal
Year Ended | ||
Fund |
October
31, 2021 |
October
31, 2022 |
October
31, 2023 |
Developed
International Value Fund | |||
Total
Brokerage Commissions |
$129,546 |
$90,425 |
$106,039 |
Brokerage
Commissions to Affiliated Broker/Dealers |
— |
— |
— |
Emerging
Markets Equity Fund | |||
Total
Brokerage Commissions |
4,969,566 |
2,947,689 |
3,181,195 |
Brokerage
Commissions to Affiliated Broker/Dealers |
— |
— |
— |
Emerging
Markets Research Enhanced Equity Fund | |||
Total
Brokerage Commissions |
1,983,932 |
1,267,922 |
1,169,115 |
Brokerage
Commissions to Affiliated Broker/Dealers |
— |
— |
— |
Europe
Dynamic Fund | |||
Total
Brokerage Commissions |
882,314 |
630,791 |
505,101 |
Brokerage
Commissions to Affiliated Broker/Dealers |
— |
— |
— |
|
Fiscal
Year Ended | ||
Fund |
October
31, 2021 |
October
31, 2022 |
October
31, 2023 |
International
Equity Fund | |||
Total
Brokerage Commissions |
$1,490,456 |
$1,339,098 |
$1,480,251 |
Brokerage
Commissions to Affiliated Broker/Dealers |
— |
— |
— |
International
Focus Fund | |||
Total
Brokerage Commissions |
1,341,002 |
794,817 |
418,604 |
Brokerage
Commissions to Affiliated Broker/Dealers |
— |
— |
— |
International
Hedged Equity Fund | |||
Total
Brokerage Commissions |
107,122 |
91,238 |
68,869 |
Brokerage
Commissions to Affiliated Broker/Dealers |
— |
— |
— |
Fund |
Name
of Broker-Dealer |
Value
of Securities
Owned
(000's) |
Developed
International Value Fund |
Barclays
plc |
$2,440 |
|
Crédit
Agricole Group |
2,067 |
|
Mizuho
Financial Group,
Inc. |
3,019 |
|
Societe
Generale SA |
1,537 |
|
UBS
Group AG |
5,979 |
Emerging
Markets Equity Fund |
Kotak
Securities |
111,396 |
Emerging
Markets Research Enhanced Equity Fund |
Huatai
Securities |
1,048 |
Europe
Dynamic Fund |
BNP
Paribas SA |
6,462 |
International
Equity Fund |
BNP
Paribas SA |
36,589 |
|
Societe
Generale SA |
26,292 |
International
Hedged Equity Fund |
Societe
Generale SA |
518 |
|
UBS
Group AG |
460 |
Amount
of Purchases |
Finders’
Fee |
$1,000,000
– $3,999,999* |
1.00% |
Amount
of Purchases |
Finders’
Fee |
$4,000,000
– $9,999,999 |
0.75% |
$10,000,000
– $49,999,999 |
0.50% |
$50,000,000
or more |
0.25% |
|
Capital
Loss Carryforward
Character | |
Fund |
Short-Term |
Long-Term |
Developed
International Value Fund |
$58,067 |
$34,682 |
Emerging
Markets Equity Fund |
388,489 |
252,432 |
Emerging
Markets Research Enhanced Equity Fund |
145,459 |
156,267 |
Europe
Dynamic Fund |
139,039 |
— |
International
Equity Fund |
65,234 |
140,865 |
International
Focus Fund |
177,524 |
— |
International
Hedged Equity Fund |
6,086 |
16,935 |
Emerging
Markets Equity Fund |
|
|
Factset |
Monthly |
5
days after month end |
JPMorgan
Chase & Co. |
Monthly |
30
days after month end |
Morningstar
Inc. |
Monthly |
30
days after month end |
Bloomberg
LP |
Monthly |
30
days after month end |
Lipper,
Inc. |
Monthly |
30
days after month end |
The
McGraw-Hill Companies, Inc. — Standard & Poor’s |
Monthly |
30
days after month end |
Vestek |
Monthly |
30
days after month end |
Lockwood
Advisors |
Quarterly |
30
days after month end |
Oppenheimer |
Quarterly |
30
days after month end |
Wells
Fargo |
Quarterly |
30
days after month end |
Rogers
Casey |
Quarterly |
30
days after month end |
BNY
Mellon |
Monthly |
30
days after month end |
Emerging
Markets Research Enhanced Equity Fund |
|
|
Factset |
Monthly |
5
days after month end |
JPMorgan
Chase & Co. |
Monthly |
30
days after month end |
Morningstar
Inc. |
Monthly |
30
days after month end |
Lipper,
Inc. |
Monthly |
30
days after month end |
Europe
Dynamic Fund |
|
|
Factset |
Monthly |
5
days after month end |
JPMorgan
Chase & Co. |
Monthly |
30
days after month end |
Morningstar
Inc. |
Monthly |
30
days after month end |
Bloomberg
LP |
Monthly |
30
days after month end |
Lipper,
Inc. |
Monthly |
30
days after month end |
The
McGraw-Hill Companies, Inc. — Standard & Poor’s |
Monthly |
30
days after month end |
International
Equity Fund |
|
|
Factset |
Monthly |
5
days after month end |
JPMorgan
Chase & Co. |
Monthly |
30
days after month end |
Morningstar
Inc. |
Monthly |
30
days after month end |
Bloomberg
LP |
Monthly |
30
days after month end |
Lipper,
Inc. |
Monthly |
30
days after month end |
The
McGraw-Hill Companies, Inc. — Standard & Poor’s |
Monthly |
30
days after month end |
Vestek |
Monthly |
30
days after month end |
Rogers
Casey |
Quarterly |
30
days after month end |
RV
Kuhns |
Quarterly |
30
days after month end |
Wells
Fargo |
Quarterly |
30
days after month end |
International
Focus Fund |
|
|
Factset |
Monthly |
5
days after month end |
JPMorgan
Chase & Co. |
Monthly |
30
days after month end |
Morningstar
Inc. |
Monthly |
30
days after month end |
Bloomberg
LP |
Monthly |
30
days after month end |
Lipper,
Inc. |
Monthly |
30
days after month end |
The
McGraw-Hill Companies, Inc. — Standard & Poor’s |
Monthly |
30
days after month end |
International
Hedged Equity Fund |
|
|
Factset |
Monthly |
5
days after month end |
JPMorgan
Chase & Co. |
Monthly |
30
days after month end |
Morningstar
Inc. |
Monthly |
30
days after month end |
Bloomberg
LP |
Monthly |
30
days after month end |
Lipper,
Inc. |
Monthly |
30
days after month end |
Developed
International Value Fund |
|
|
Factset |
Monthly |
5
days after month end |
JPMorgan
Chase & Co. |
Monthly |
30
days after month end |
Morningstar
Inc. |
Monthly |
30
days after month end |
Bloomberg
LP |
Monthly |
30
days after month end |
Vickers
Stock Research Corp. |
Monthly |
30
days after month end |
The
McGraw-Hill Companies, Inc. — Standard & Poor’s |
Monthly |
30
days after month end |
Vestek |
Monthly |
30
days after month end |
Raymond
James |
Quarterly |
30
days after month end |
Rogers
Casey |
Quarterly |
30
days after month end |
Name
of Fund |
Name
and Address of Shareholder |
Percentage
Held |
JPMORGAN
DEVELOPED INTERNATIONAL VALUE FUND | ||
CLASS
A SHARES |
EDWARD
D JONES & CO
FOR
THE BENEFIT OF CUSTOMERS
12555
MANCHESTER RD
SAINT
LOUIS MO 63131-3710 |
86.62% |
|
|
|
CLASS
C SHARES |
WELLS
FARGO CLEARING SERVICES LLC
SPECIAL
CUSTODY ACCT FOR THE
EXCLUSIVE
BENEFIT OF CUSTOMER
2801
MARKET STREET
ST
LOUIS MO 63103-2523 |
34.78% |
|
|
|
|
EDWARD
D JONES & CO
FOR
THE BENEFIT OF CUSTOMERS
12555
MANCHESTER RD
SAINT
LOUIS MO 63131-3710 |
13.02% |
|
|
|
|
PERSHING
LLC
P.O.
BOX 2052
JERSEY
CITY NJ 07303-2052 |
12.35% |
|
|
|
|
OPPENHEIMER
& CO INC. FBO
STEPHANIE
A LINDSEY (TOD)
148
SADDLE CREST DR
FLETCHER
NC 28732-7669 |
7.49% |
|
|
|
|
MLPF&S
FOR THE SOLE BENEFIT OF
ITS
CUSTOMERS
ATTN
FUND ADMINISTRATION
4800
DEER LAKE DR E FL 3
JACKSONVILLE
FL 32246-6484 |
5.96% |
|
|
|
|
LPL
FINANCIAL
OMNIBUS
CUSTOMER ACCOUNT
ATTN
MUTUAL FUND TRADING
4707
EXECUTIVE DR
SAN
DIEGO CA 92121-3091 |
5.24% |
|
|
|
CLASS
I SHARES |
NATIONAL
FINANCIAL SERVICES LLC
FOR
THE EXCLUSIVE BENEFIT OF OUR
CUSTOMERS
ATTN
MUTUAL FUNDS DEPT 4TH FL
499
WASHINGTON BLVD
JERSEY
CITY NJ 07310-1995 |
31.63% |
Name
of Fund |
Name
and Address of Shareholder |
Percentage
Held |
|
|
|
|
J.
P. MORGAN SECURITIES LLC*
FOR
EXCLUSIVE BENEFIT OF CUSTOMERS
4
CHASE METROTECH CTR
BROOKLYN
NY 11245-0003 |
22.48% |
|
|
|
|
LPL
FINANCIAL
OMNIBUS
CUSTOMER ACCOUNT
ATTN
MUTUAL FUND TRADING
4707
EXECUTIVE DR
SAN
DIEGO CA 92121-3091 |
10.35% |
|
|
|
|
CHARLES
SCHWAB & CO INC
SPECIAL
CUSTODY ACCOUNT FOR
BENEFIT
OF CUSTOMERS
ATTN:
MUTUAL FUNDS
211
MAIN ST
SAN
FRANCISCO CA 94105-1901 |
5.89% |
|
|
|
CLASS
L SHARES |
J.
P. MORGAN SECURITIES LLC*
FOR
EXCLUSIVE BENEFIT OF CUSTOMERS
4
CHASE METROTECH CTR
BROOKLYN
NY 11245-0003 |
33.11% |
|
|
|
|
NATIONAL
FINANCIAL SERVICES LLC
FOR
THE EXCLUSIVE BENEFIT OF OUR
CUSTOMERS
ATTN
MUTUAL FUNDS DEPT 4TH FL
499
WASHINGTON BLVD
JERSEY
CITY NJ 07310-1995 |
28.09% |
|
|
|
|
CHARLES
SCHWAB & CO INC
SPECIAL
CUSTODY ACCOUNT FOR
BENEFIT
OF CUSTOMERS
ATTN
MUTUAL FUNDS
211
MAIN ST
SAN
FRANCISCO CA 94105-1901 |
9.56% |
|
|
|
CLASS
R2 SHARES |
NATIONAL
FINANCIAL SERVICES LLC
499
WASHINGTON BLVD
JERSEY
CITY NJ 07310-1995 |
49.16% |
|
|
|
|
ASCENSUS
TRUST COMPANY FBO
SAN
FRANCISCO ELECTRICAL CNTRS
ASSO
PO
BOX 10758
FARGO
ND 58106-0758 |
16.51% |
|
|
|
|
MATRIX
TRUST COMPANY CUST. FBO
PROGRESSIVE
PODIATRY RETIREMENT
PLAN
717
17TH ST STE 1300
DENVER
CO 80202-3304 |
10.90% |
Name
of Fund |
Name
and Address of Shareholder |
Percentage
Held |
|
|
|
|
MATRIX
TRUST COMPANY AS AGENT FOR
ADVISOR
TRUST, INC.
NORTH
BRANCH ISD # 138 403(B) PLAN
717
17TH ST STE 1300
DENVER
CO 80202-3304 |
6.97% |
|
|
|
CLASS
R5 SHARES |
NATIONWIDE
TRUST COMPANY FSB
C/O
IPO PORTFOLIO ACCOUNTING
PO
BOX 182029
COLUMBUS
OH 43218-2029 |
58.80% |
|
|
|
|
JP
MORGAN INVESTMENT MGMT*
ATTN
LOREN STRIFE OH1-0185
1111
POLARIS PKWY
COLUMBUS
OH 43240-2031 |
41.20% |
|
|
|
CLASS
R6 SHARES |
EDWARD
D JONES & CO
FOR
THE BENEFIT OF CUSTOMERS
12555
MANCHESTER RD
SAINT
LOUIS MO 63131-3710 |
96.39% |
JPMORGAN
EMERGING MARKETS EQUITY FUND | ||
CLASS
A SHARES |
EDWARD
D JONES & CO
FOR
THE BENEFIT OF CUSTOMERS
12555
MANCHESTER RD
SAINT
LOUIS MO 63131-3710 |
30.39% |
|
|
|
|
CHARLES
SCHWAB & CO INC
SPECIAL
CUSTODY ACCOUNT FOR
BENEFIT
OF CUSTOMERS
ATTN:
MUTUAL FUNDS
211
MAIN ST
SAN
FRANCISCO CA 94105-1901 |
26.79% |
|
|
|
|
J.
P. MORGAN SECURITIES LLC*
FOR
EXCLUSIVE BENEFIT OF CUSTOMERS
4
CHASE METROTECH CTR
BROOKLYN
NY 11245-0003 |
7.78% |
|
|
|
CLASS
C SHARES |
WELLS
FARGO CLEARING SERVICES LLC
SPECIAL
CUSTODY ACCT FOR THE
EXCLUSIVE
BENEFIT OF CUSTOMER
2801
MARKET STREET
ST
LOUIS MO 63103-2523 |
26.28% |
|
|
|
|
MORGAN
STANLEY SMITH BARNEY LLC
FOR
THE EXCLUSIVE BENE OF ITS CUST
1
NEW YORK PLZ FL 12
NEW
YORK NY 10004-1965 |
18.79% |
|
|
|
|
J.
P. MORGAN SECURITIES LLC*
FOR
EXCLUSIVE BENEFIT OF CUSTOMERS
4
CHASE METROTECH CTR
BROOKLYN
NY 11245-0003 |
15.20% |
Name
of Fund |
Name
and Address of Shareholder |
Percentage
Held |
|
|
|
|
AMERICAN
ENTERPRISE INVESTMENT SVC
FBO
707
2ND AVE S
MINNEAPOLIS
MN 55402-2405 |
5.22% |
|
|
|
|
MLPF&S
FOR THE SOLE BENEFIT OF
ITS
CUSTOMERS
ATTN
FUND ADMINISTRATION
4800
DEER LAKE DR E FL 3
JACKSONVILLE
FL 32246-6484 |
5.14% |
|
|
|
CLASS
I SHARES |
NATIONAL
FINANCIAL SERVICES LLC
FOR
THE EXCLUSIVE BENEFIT OF OUR
CUSTOMERS
ATTN
MUTUAL FUNDS DEPT 4TH FL
499
WASHINGTON BLVD
JERSEY
CITY NJ 07310-1995 |
28.49% |
|
|
|
|
CHARLES
SCHWAB & CO INC
SPECIAL
CUSTODY ACCOUNT FOR
BENEFIT
OF CUSTOMERS
ATTN
MUTUAL FUNDS
211
MAIN ST
SAN
FRANCISCO CA 94105-1901 |
13.79% |
|
|
|
|
MORGAN
STANLEY SMITH BARNEY LLC
FOR
THE EXCLUSIVE BENE OF ITS CUST
1
NEW YORK PLZ FL 12
NEW
YORK NY 10004-1965 |
13.06% |
|
|
|
|
PERSHING
LLC
P.O.
BOX 2052
JERSEY
CITY NJ 07303-2052 |
13.04% |
|
|
|
|
J.
P. MORGAN SECURITIES LLC*
FOR
EXCLUSIVE BENEFIT OF CUSTOMERS
4
CHASE METROTECH CTR
BROOKLYN
NY 11245-0003 |
7.94% |
|
|
|
|
LPL
FINANCIAL
OMNIBUS
CUSTOMER ACCOUNT
ATTN
MUTUAL FUND TRADING
4707
EXECUTIVE DR
SAN
DIEGO CA 92121-3091 |
5.91% |
|
|
|
CLASS
L SHARES |
CHARLES
SCHWAB & CO INC
SPECIAL
CUSTODY ACCOUNT FOR
BENEFIT
OF CUSTOMERS
ATTN
MUTUAL FUNDS
211
MAIN ST
SAN
FRANCISCO CA 94105-1901 |
45.05% |
Name
of Fund |
Name
and Address of Shareholder |
Percentage
Held |
|
|
|
|
RAYMOND
JAMES
OMNIBUS
FOR MUTUAL FUNDS
HOUSE
ACCT FIRM
ATTN
COURTNEY WALLER
880
CARILLON PKWY
ST
PETERSBURG FL 33716-1100 |
19.35% |
|
|
|
|
J.
P. MORGAN SECURITIES LLC*
FOR
EXCLUSIVE BENEFIT OF CUSTOMERS
4
CHASE METROTECH CTR
BROOKLYN
NY 11245-0003 |
10.70% |
|
|
|
|
NATIONAL
FINANCIAL SERVICES LLC
FOR
THE EXCLUSIVE BENEFIT OF OUR
CUSTOMERS
ATTN
MUTUAL FUNDS DEPT 4TH FL
499
WASHINGTON BLVD
JERSEY
CITY NJ 07310-1995 |
7.36% |
|
|
|
|
WELLS
FARGO CLEARING SERVICES LLC
SPECIAL
CUSTODY ACCT FOR THE
EXCLUSIVE
BENEFIT OF CUSTOMER
2801
MARKET STREET
ST
LOUIS MO 63103-2523 |
5.17% |
|
|
|
CLASS
R2 SHARES |
MATRIX
TRUST COMPANY AS AGENT FOR
ADVISOR
TRUST, INC.
ASHLAND
CITY SCHOOLS 403(B) PLAN
717
17TH ST STE 1300
DENVER
CO 80202-3304 |
14.65% |
|
|
|
|
SCOTT
GOLDMAN & LAWRENCE HOOPER
III
C/O
FASCORE
DIVISION
9 ASSOCIATES INC 401K PSP
8515
E ORCHARD RD # 2T2
GREENWOOD
VLG CO 80111-5002 |
11.57% |
|
|
|
|
EMPOWER
TRUST FBO
EMPLOYEE
BENEFITS CLIENTS 401K - FG
8515
E ORCHARD RD 2T2
GREENWOOD
VILLAGE CO 80111-5002 |
11.47% |
|
|
|
|
CASH
CARPENTER & TODD MITCHELL
TTEE
GORDON
ENERGY & DRAINAGE CO EMP
401
C/O
FASCORE
8515
E ORCHARD RD 2T2
GREENWOOD
VILLAGE CO 80111-5002 |
7.41% |
Name
of Fund |
Name
and Address of Shareholder |
Percentage
Held |
|
|
|
|
RICHARD
LEE TTEE FBO
C/O
FASCORE
RENAISSANCE
PLASTIC SURGERY INC 401
8515
E ORCHARD RD # 2T2
GREENWOOD
VLG CO 80111-5002 |
5.91% |
|
|
|
|
DANIEL
KAREN & PETER BARTSCHKE
TTEE
C/O
FASCORE
STANDARD
TOOL & DIE INC EE PSP & TR
8515
E ORCHARD RD # 2T2
GREENWOOD
VLG CO 80111-5002 |
5.30% |
|
|
|
CLASS
R3 SHARES |
MLPF&S
FOR THE SOLE BENEFIT OF
ITS
CUSTOMERS
ATTN
FUND ADMINISTRATION
4800
DEER LAKE DR E FL 3
JACKSONVILLE
FL 32246-6484 |
70.51% |
|
|
|
|
DCGT
AS TTEE AND/OR CUST
FBO
PLIC VARIOUS RETIREMENT PLANS
ATTN
NPIO TRADE DESK
OMNIBUS
711
HIGH ST
DES
MOINES IA 50392-0001 |
17.98% |
|
|
|
CLASS
R4 SHARES |
LINCOLN
RETIREMENT SERVICES
COMPANY
FBO
WORLD ELECT SALES & SERVICE INC
PO
BOX 7876
FORT
WAYNE IN 46801-7876 |
30.12% |
|
|
|
|
NATIONAL
FINANCIAL SERVICES LLC
499
WASHINGTON BLVD
JERSEY
CITY NJ 07310-1995 |
27.96% |
|
|
|
|
LINCOLN
RETIREMENT SERVICES
COMPANY
FBO
MONTCLAIR BOARD OF EDUC 403B
PO
BOX 7876
FORT
WAYNE IN 46801-7876 |
19.90% |
|
|
|
|
STATE
STREET BANK & TRUST AS
TRUSTEE
AND/OR CUSTODIAN
FBO
ADP ACCESS PRODUCT
PO
BOX 5501
BOSTON
MA 02206-5501 |
13.42% |
|
|
|
CLASS
R5 SHARES |
MATRIX
TRUST COMPANY CUST FBO
COLONIAL
SCHOOL DISTRICT 403B PLAN
717
17TH ST STE 1300
DENVER
CO 80202-3304 |
16.52% |
Name
of Fund |
Name
and Address of Shareholder |
Percentage
Held |
|
|
|
|
CHARLES
SCHWAB & CO INC
SPECIAL
CUSTODY ACCOUNT FOR
BENEFIT
OF CUSTOMERS
ATTN:
MUTUAL FUNDS
211
MAIN ST
SAN
FRANCISCO CA 94105-1901 |
15.35% |
|
|
|
|
TIAA
TRUST, N.A. AS CUST/TTEE
OF
RETIREMENT PLANS
RECORDKEPT
BY TIAA
ATTN:
FUND OPERATIONS
8500
ANDREW CARNEGIE BLVD
CHARLOTTE
NC 28262-8500 |
8.91% |
|
|
|
|
JOHN
HANCOCK TRUST COMPANY LLC
200
BERKELEY ST STE 7
BOSTON
MA 02116-5038 |
8.70% |
|
|
|
|
STATE
STREET BANK & TRUST AS
TRUSTEE
AND/OR CUSTODIAN
FBO
ADP ACCESS PRODUCT
PO
BOX 5501
BOSTON
MA 02206-5501 |
5.11% |
|
|
|
|
MATRIX
TRUST COMPANY CUST FBO
SPRINGFIELD
SCHOOL DISTRICT 403B PL
717
17TH ST STE 1300
DENVER
CO 80202-3304 |
5.07% |
|
|
|
CLASS
R6 SHARES |
EDWARD
D JONES & CO
FOR
THE BENEFIT OF CUSTOMERS
12555
MANCHESTER RD
SAINT
LOUIS MO 63131-3710 |
25.36% |
|
|
|
|
NATIONAL
FINANCIAL SERVICES LLC
499
WASHINGTON BLVD
JERSEY
CITY NJ 07310-1995 |
6.86% |
|
|
|
|
J.
P. MORGAN SECURITIES LLC*
FOR
EXCLUSIVE BENEFIT OF CUSTOMERS
4
CHASE METROTECH CTR
BROOKLYN
NY 11245-0003 |
5.34% |
JPMORGAN
EUROPE DYNAMIC FUND | ||
CLASS
A SHARES |
J.
P. MORGAN SECURITIES LLC*
FOR
EXCLUSIVE BENEFIT OF CUSTOMERS
4
CHASE METROTECH CTR
BROOKLYN
NY 11245-0003 |
30.79% |
|
|
|
|
CHARLES
SCHWAB & CO INC
REINVEST
ACCOUNT
ATTN:
MUTUAL FUNDS DEPT
211
MAIN ST
SAN
FRANCISCO CA 94105-1901 |
12.22% |
Name
of Fund |
Name
and Address of Shareholder |
Percentage
Held |
|
|
|
|
EDWARD
D JONES & CO
FOR
THE BENEFIT OF CUSTOMERS
12555
MANCHESTER RD
SAINT
LOUIS MO 63131-3710 |
9.52% |
|
|
|
|
NATIONAL
FINANCIAL SERVICES LLC
FOR
EXCLUSIVE BENEFIT OF OUR
CUSTOMERS
499
WASHINGTON BLVD
ATTN
MUTUAL FUNDS DEPT 4TH FLOOR
JERSEY
CITY NJ 07310-1995 |
9.30% |
|
|
|
|
LPL
FINANCIAL
OMNIBUS
CUSTOMER ACCOUNT
ATTN
MUTUAL FUND TRADING
4707
EXECUTIVE DR
SAN
DIEGO CA 92121-3091 |
5.83% |
|
|
|
|
PERSHING
LLC
P.O.
BOX 2052
JERSEY
CITY NJ 07303-2052 |
5.39% |
|
|
|
|
MORGAN
STANLEY SMITH BARNEY LLC
FOR
THE EXCLUSIVE BENE OF ITS CUST
1
NEW YORK PLZ FL 12
NEW
YORK NY 10004-1965 |
5.19% |
|
|
|
CLASS
C SHARES |
J.
P. MORGAN SECURITIES LLC*
FOR
EXCLUSIVE BENEFIT OF CUSTOMERS
4
CHASE METROTECH CTR
BROOKLYN
NY 11245-0003 |
17.51% |
|
|
|
|
WELLS
FARGO CLEARING SERVICES LLC
SPECIAL
CUSTODY ACCT FOR THE
EXCLUSIVE
BENEFIT OF CUSTOMER
2801
MARKET STREET
ST
LOUIS MO 63103-2523 |
14.28% |
|
|
|
|
NATIONAL
FINANCIAL SERVICES LLC
FOR
EXCLUSIVE BENEFIT OF OUR
CUSTOMERS
499
WASHINGTON BLVD
ATTN
MUTUAL FUNDS DEPT 4TH FLOOR
JERSEY
CITY NJ 07310-1995 |
11.38% |
|
|
|
|
PERSHING
LLC
P.O.
BOX 2052
JERSEY
CITY NJ 07303-2052 |
11.05% |
|
|
|
|
LPL
FINANCIAL
OMNIBUS
CUSTOMER ACCOUNT
ATTN
MUTUAL FUND TRADING
4707
EXECUTIVE DR
SAN
DIEGO CA 92121-3091 |
10.61% |
Name
of Fund |
Name
and Address of Shareholder |
Percentage
Held |
|
|
|
|
MORGAN
STANLEY SMITH BARNEY LLC
FOR
THE EXCLUSIVE BENE OF ITS CUST
1
NEW YORK PLZ FL 12
NEW
YORK NY 10004-1965 |
8.89% |
|
|
|
|
AMERICAN
ENTERPRISE INVESTMENT SVC
FBO
707
2ND AVE S
MINNEAPOLIS
MN 55402-2405 |
5.25% |
|
|
|
CLASS
I SHARES |
NATIONAL
FINANCIAL SERVICES LLC
FOR
THE EXCLUSIVE BENEFIT OF OUR
CUSTOMERS
ATTN
MUTUAL FUNDS DEPT 4TH FL
499
WASHINGTON BLVD
JERSEY
CITY NJ 07310-1995 |
50.32% |
|
|
|
|
J.
P. MORGAN SECURITIES LLC*
FOR
EXCLUSIVE BENEFIT OF CUSTOMERS
4
CHASE METROTECH CTR
BROOKLYN
NY 11245-0003 |
22.49% |
|
|
|
|
WELLS
FARGO CLEARING SERVICES LLC
SPECIAL
CUSTODY ACCT FOR THE
EXCLUSIVE
BENEFIT OF CUSTOMER
2801
MARKET STREET
ST
LOUIS MO 63103-2523 |
5.43% |
|
|
|
CLASS
L SHARES |
CHARLES
SCHWAB & CO INC
SPECIAL
CUSTODY ACCOUNT FOR
BENEFIT
OF CUSTOMERS
ATTN:
MUTUAL FUNDS
211
MAIN ST
SAN
FRANCISCO CA 94105-1901 |
38.44% |
|
|
|
|
J.
P. MORGAN SECURITIES LLC*
FOR
EXCLUSIVE BENEFIT OF CUSTOMERS
4
CHASE METROTECH CTR
BROOKLYN
NY 11245-0003 |
21.98% |
|
|
|
|
RAYMOND
JAMES
OMNIBUS
FOR MUTUAL FUNDS
HOUSE
ACCT FIRM
ATTN
COURTNEY WALLER
880
CARILLON PKWY
ST
PETERSBURG FL 33716-1100 |
14.84% |
|
|
|
|
NATIONAL
FINANCIAL SERVICES LLC
FOR
THE EXCLUSIVE BENEFIT OF OUR
CUSTOMERS
ATTN
MUTUAL FUNDS DEPT 4TH FL
499
WASHINGTON BLVD
JERSEY
CITY NJ 07310-1995 |
6.90% |
Name
of Fund |
Name
and Address of Shareholder |
Percentage
Held |
|
|
|
CLASS
R6 SHARES |
JPMIM
AS AGENT FOR*
JPMORGAN
INVESTOR GROWTH FUND
ATTN
CLIENT SERVICES
500
STANTON CHRISTIANA RD DE3-3650
NEWARK
DE 19713-2105 |
38.27% |
|
|
|
|
JPMIM
AS AGENT FOR*
JPMORGAN
INVESTOR BALANCED FUND
ATTN
CLIENT SERVICES
500
STANTON CHRISTIANA RD DE3-3650
NEWARK
DE 19713-2105 |
23.75% |
|
|
|
|
JPMIM
AS AGENT FOR*
JPMORGAN
INVESTOR GROWTH AND
INCOME
ATTN
CLIENT SERVICES
500
STANTON CHRISTIANA RD DE3-3650
NEWARK
DE 19713-2105 |
23.74% |
|
|
|
|
JPMIM
AS AGENT FOR*
JPMORGAN
INVESTOR CONSERVATIVE
GROWTH
FUND
ATTN
CLIENT SERVICES
500
STANTON CHRISTIANA RD DE3-3650
NEWARK
DE 19713-2105 |
7.91% |
JPMORGAN
INTERNATIONAL EQUITY FUND | ||
CLASS
A SHARES |
EDWARD
D JONES & CO
FOR
THE BENEFIT OF CUSTOMERS
12555
MANCHESTER RD
SAINT
LOUIS MO 63131-3710 |
71.87% |
|
|
|
|
CHARLES
SCHWAB & CO INC
SPECIAL
CUSTODY ACCOUNT FOR
BENEFIT
OF CUSTOMERS
ATTN:
MUTUAL FUNDS
211
MAIN ST
SAN
FRANCISCO CA 94105-1901 |
8.29% |
|
|
|
CLASS
C SHARES |
LPL
FINANCIAL
OMNIBUS
CUSTOMER ACCOUNT
ATTN
MUTUAL FUND TRADING
4707
EXECUTIVE DR
SAN
DIEGO CA 92121-3091 |
18.81% |
|
|
|
|
NATIONAL
FINANCIAL SERVICES LLC
FOR
EXCLUSIVE BENEFIT OF OUR
CUSTOMERS
499
WASHINGTON BLVD
ATTN
MUTUAL FUNDS DEPT 4TH FLOOR
JERSEY
CITY NJ 07310-1995 |
13.20% |
Name
of Fund |
Name
and Address of Shareholder |
Percentage
Held |
|
|
|
|
RAYMOND
JAMES
OMNIBUS
FOR MUTUAL FUNDS
HOUSE
ACCT FIRM
ATTN
COURTNEY WALLER
880
CARILLON PKWY
ST
PETERSBURG FL 33716-1100 |
10.14% |
|
|
|
|
PERSHING
LLC
P.O.
BOX 2052
JERSEY
CITY NJ 07303-2052 |
10.03% |
|
|
|
|
MORGAN
STANLEY SMITH BARNEY LLC
FOR
THE EXCLUSIVE BENE OF ITS CUST
1
NEW YORK PLZ FL 12
NEW
YORK NY 10004-1965 |
9.79% |
|
|
|
|
EDWARD
D JONES & CO
FOR
THE BENEFIT OF CUSTOMERS
12555
MANCHESTER RD
SAINT
LOUIS MO 63131-3710 |
7.41% |
|
|
|
|
WELLS
FARGO CLEARING SERVICES LLC
SPECIAL
CUSTODY ACCT FOR THE
EXCLUSIVE
BENEFIT OF CUSTOMER
2801
MARKET STREET
ST
LOUIS MO 63103-2523 |
7.24% |
|
|
|
|
CHARLES
SCHWAB & CO INC
SPECIAL
CUSTODY ACCT
FBO
CUSTOMERS
ATTN
MUTUAL FUNDS
211
MAIN ST
SAN
FRANCISCO CA 94105-1901 |
6.21% |
|
|
|
|
J.
P. MORGAN SECURITIES LLC*
FOR
EXCLUSIVE BENEFIT OF CUSTOMERS
4
CHASE METROTECH CTR
BROOKLYN
NY 11245-0003 |
5.81% |
|
|
|
CLASS
I SHARES |
NATIONAL
FINANCIAL SERVICES LLC
FOR
THE EXCLUSIVE BENEFIT OF OUR
CUSTOMERS
ATTN
MUTUAL FUNDS DEPT 4TH FL
499
WASHINGTON BLVD
JERSEY
CITY NJ 07310-1995 |
37.11% |
|
|
|
|
AMERICAN
ENTERPRISE INVESTMENT SVC
FBO
707
2ND AVE S
MINNEAPOLIS
MN 55402-2405 |
18.46% |
|
|
|
|
PERSHING
LLC
P.O.
BOX 2052
JERSEY
CITY NJ 07303-2052 |
14.74% |
Name
of Fund |
Name
and Address of Shareholder |
Percentage
Held |
|
|
|
|
LPL
FINANCIAL
OMNIBUS
CUSTOMER ACCOUNT
ATTN
MUTUAL FUND TRADING
4707
EXECUTIVE DR
SAN
DIEGO CA 92121-3091 |
11.73% |
|
|
|
|
CHARLES
SCHWAB & CO INC
SPECIAL
CUSTODY ACCOUNT FOR
BENEFIT
OF CUSTOMERS
ATTN:
MUTUAL FUNDS
211
MAIN ST
SAN
FRANCISCO CA 94105-1901 |
6.93% |
|
|
|
CLASS
R2 SHARES |
STATE
STREET BANK & TRUST AS
TRUSTEE
AND/OR CUSTODIAN
FBO
ADP ACCESS PRODUCT
PO
BOX 5501
BOSTON
MA 02206-5501 |
52.21% |
|
|
|
|
DCGT
TRUSTEE & OR CUSTODIAN
FBO
PLIC VARIOUS RETIREMENT PLANS
OMNIBUS
ATTN
NPIO TRADE DESK
711
HIGH ST
DES
MOINES IA 50392-0001 |
8.05% |
|
|
|
|
MID
ATLANTIC TRUST COMPANY FBO
ALEXANDER
HOLDINGS LLC 401(K) PROFI
1251
WATERFRONT PLACE, SUITE 525
PITTSBURGH
PA 15222-4228 |
7.40% |
|
|
|
|
MATRIX
TRUST COMPANY AGENT FOR TRP
RPS
RK FBO 401K
HICKMAN
LAND TITLE 401(K) PLAN
112
N MAIN ST
LOGAN
UT 84321-4526 |
6.31% |
|
|
|
CLASS
R5 SHARES |
ATTN
MUTUAL FUND ADMINISTRATOR
C/O
PRINCIPAL FINANCIAL ID 636
SEI
PRIVATE TRUST COMPANY
1
FREEDOM VALLEY DR
OAKS
PA 19456-9989 |
28.51% |
|
|
|
|
NATIONAL
FINANCIAL SERVICES LLC
FIIOC
AS AGENT FOR
QUALIFIED
EMPLOYEE BENEFIT
PLANS
(401K) FINOPS-IC FUNDS
100
MAGELLAN WAY # KW1C
COVINGTON
KY 41015-1987 |
20.96% |
Name
of Fund |
Name
and Address of Shareholder |
Percentage
Held |
|
|
|
|
FIIOC
INC AS AGENT FOR
FBO
TEUFELBERGER RETIREMENT
SAVINGS
PLAN
100
MAGELLAN WAY #KWIC
COVINGTON
KY 41015-1987 |
10.31% |
|
|
|
|
MLPF&S
FOR THE SOLE BENEFIT OF
ITS
CUSTOMERS
ATTN
FUND ADMINISTRATION
4800
DEER LAKE DR EAST 2ND FL
JACKSONVILLE
FL 32246-6484 |
7.92% |
|
|
|
|
MATRIX
TRUST COMPANY TRUSTEE FBO
APPLE
VALLEY FIRE PROTECTION
DISTRICT
717
17TH ST STE 1300
DENVER
CO 80202-3304 |
6.84% |
|
|
|
|
DCGT
AS TTEE AND/OR CUST
FBO
PLIC VARIOUS RETIREMENT PLANS
ATTN
NPIO TRADE DESK
OMNIBUS
711
HIGH ST
DES
MOINES IA 50392-0001 |
6.79% |
|
|
|
|
VANGUARD
FIDUCIARY TRUST CO
JP
MORGAN FUNDS
ATTN
INVESTMENT SERVICES
PO
BOX 2600
VALLEY
FORGE PA 19482-2600 |
5.01% |
|
|
|
CLASS
R6 SHARES |
MAC
& CO A/C 704706
ATTN
MUTUAL FUND OPS
PO
BOX 3198
525
WILLIAM PENN PLACE
PITTSBURGH
PA 15230-3198 |
17.72% |
|
|
|
|
JPMIM
AS AGENT FOR*
JPMORGAN
SMARTRETIREMENT 2040
FUND
ATTN
CLIENT SERVICES
500
STANTON CHRISTIANA RD DE3-3650
NEWARK
DE 19713-2105 |
7.48% |
|
|
|
|
JPMIM
AS AGENT FOR*
JPMORGAN
INVESTOR GROWTH FUND
ATTN
CLIENT SERVICES
500
STANTON CHRISTIANA RD DE3-3650
NEWARK
DE 19713-2105 |
6.96% |
Name
of Fund |
Name
and Address of Shareholder |
Percentage
Held |
|
|
|
|
JPMIM
AS AGENT FOR*
JPMORGAN
SMARTRETIREMENT 2035
FUND
ATTN
CLIENT SERVICES
500
STANTON CHRISTIANA RD DE3-3650
NEWARK
DE 19713-2105 |
6.50% |
|
|
|
|
JPMIM
AS AGENT FOR*
JPMORGAN
SMARTRETIREMENT 2045
FUND
ATTN
CLIENT SERVICES
500
STANTON CHRISTIANA RD DE3-3650
NEWARK
DE 19713-2105 |
6.29% |
|
|
|
|
JPMIM
AS AGENT FOR*
JPMORGAN
SMARTRETIREMENT 2030
FUND
ATTN
CLIENT SERVICES
500
STANTON CHRISTIANA RD DE3-3650
NEWARK
DE 19713-2105 |
6.20% |
|
|
|
|
JPMIM
AS AGENT FOR*
JPMORGAN
SMARTRETIREMENT 2050
FUND
ATTN
CLIENT SERVICES
500
STANTON CHRISTIANA RD DE3-3650
NEWARK
DE 19713-2105 |
5.78% |
|
|
|
|
EDWARD
D JONES & CO
FOR
THE BENEFIT OF CUSTOMERS
12555
MANCHESTER RD
SAINT
LOUIS MO 63131-3710 |
5.00% |
JPMORGAN
INTERNATIONAL FOCUS FUND | ||
CLASS
A SHARES |
EDWARD
D JONES & CO
FOR
THE BENEFIT OF CUSTOMERS
12555
MANCHESTER RD
SAINT
LOUIS MO 63131-3710 |
76.89% |
|
|
|
CLASS
C SHARES |
J.
P. MORGAN SECURITIES LLC*
FOR
EXCLUSIVE BENEFIT OF CUSTOMERS
4
CHASE METROTECH CTR
BROOKLYN
NY 11245-0003 |
26.96% |
|
|
|
|
AMERICAN
ENTERPRISE INVESTMENT SVC
FBO
707
2ND AVE S
MINNEAPOLIS
MN 55402-2405 |
14.38% |
|
|
|
|
PERSHING
LLC
P.O.
BOX 2052
JERSEY
CITY NJ 07303-2052 |
10.50% |
Name
of Fund |
Name
and Address of Shareholder |
Percentage
Held |
|
|
|
|
LPL
FINANCIAL
OMNIBUS
CUSTOMER ACCOUNT
ATTN
MUTUAL FUND TRADING
4707
EXECUTIVE DR
SAN
DIEGO CA 92121-3091 |
7.40% |
|
|
|
|
NATIONAL
FINANCIAL SERVICES LLC
FOR
EXCLUSIVE BENEFIT OF OUR
CUSTOMERS
499
WASHINGTON BLVD
ATTN
MUTUAL FUNDS DEPT 4TH FLOOR
JERSEY
CITY NJ 07310-1995 |
6.57% |
|
|
|
|
RAYMOND
JAMES
OMNIBUS
FOR MUTUAL FUNDS
HOUSE
ACCT FIRM 92500015
ATTN
COURTNEY WALLER
880
CARILLON PKWY
ST
PETERSBURG FL 33716-1100 |
6.17% |
|
|
|
CLASS
I SHARES |
LPL
FINANCIAL
OMNIBUS
CUSTOMER ACCOUNT
ATTN
MUTUAL FUND TRADING
4707
EXECUTIVE DR
SAN
DIEGO CA 92121-3091 |
25.47% |
|
|
|
|
NATIONAL
FINANCIAL SERVICES LLC
FOR
THE EXCLUSIVE BENEFIT OF OUR
CUSTOMERS
ATTN
MUTUAL FUNDS DEPT 4TH FL
499
WASHINGTON BLVD
JERSEY
CITY NJ 07310-1995 |
23.98% |
|
|
|
|
AMERICAN
ENTERPRISE INVESTMENT SVC
FBO
707
2ND AVE S
MINNEAPOLIS
MN 55402-2405 |
18.32% |
|
|
|
|
CHARLES
SCHWAB & CO INC
SPECIAL
CUSTODY ACCOUNT FOR
BENEFIT
OF CUSTOMERS
ATTN:
MUTUAL FUNDS
211
MAIN ST
SAN
FRANCISCO CA 94105-1901 |
11.21% |
|
|
|
|
MLPF&S
FOR THE SOLE BENEFIT OF
ITS
CUSTOMERS
ATTN
FUND ADMINISTRATION
4800
DEER LAKE DR E FL 3
JACKSONVILLE
FL 32246-6484 |
5.93% |
|
|
|
|
PERSHING
LLC
P.O.
BOX 2052
JERSEY
CITY NJ 07303-2052 |
5.52% |
Name
of Fund |
Name
and Address of Shareholder |
Percentage
Held |
|
|
|
CLASS
R2 SHARES |
STATE
STREET BANK & TRUST AS
TRUSTEE
AND/OR CUSTODIAN
FBO
ADP ACCESS PRODUCT
PO
BOX 5501
BOSTON
MA 02206-5501 |
53.34% |
|
|
|
|
ASCENSUS
TRUST COMPANY FBO
WILT
PUBLIC RELATIONS 401(K) PSP 2
PO
BOX 10758
FARGO
ND 58106-0758 |
8.13% |
|
|
|
|
ASCENSUS
TRUST COMPANY FBO
CAPE
CENTER MEDICINE PLLC PROFIT SH
PO
BOX 10758
FARGO
ND 58106-0758 |
7.39% |
|
|
|
|
ASCENSUS
TRUST COMPANY FBO
ALLEN-SMITH
CONSULTING RETIREMENT
P
PO
BOX 10758
FARGO
ND 58106-0758 |
5.14% |
|
|
|
CLASS
R5 SHARES |
MATRIX
TRUST COMPANY AS AGENT FOR
ADVISOR
TRUST, INC
HENNER
TANK LINES INC 401K PLAN
717
17TH ST STE 1300
DENVER
CO 80202-3304 |
11.89% |
|
|
|
|
MATRIX
TRUST COMPANY AS AGENT FOR
ADVISOR
TRUST, INC
SOUTHEAST
TEXAS STARTER ALTERNATOR
717
17TH ST STE 1300
DENVER
CO 80202-3304 |
8.53% |
|
|
|
|
MATRIX
TRUST COMPANY AS AGENT FOR
ADVISOR
TRUST, INC
VANCO
INTERNATIONAL LLC 401K PLAN
717
17TH ST STE 1300
DENVER
CO 80202-3304 |
5.20% |
|
|
|
|
MATRIX
TRUST COMPANY AS AGENT FOR
ADVISOR
TRUST, INC
HOPE
REHAB DICKINSON LLC 401K
717
17TH ST STE 1300
DENVER
CO 80202-3304 |
5.19% |
|
|
|
|
MATRIX
TRUST COMPANY CUST FBO
TRIPLE
S INDUSTRIAL CORPORATIO
717
17TH ST STE 1300
DENVER
CO 80202-3304 |
5.03% |
Name
of Fund |
Name
and Address of Shareholder |
Percentage
Held |
|
|
|
CLASS
R6 SHARES |
EDWARD
D JONES & CO
FOR
THE BENEFIT OF CUSTOMERS
12555
MANCHESTER RD
SAINT
LOUIS MO 63131-3710 |
35.12% |
|
|
|
|
JPMIM
AS AGENT FOR*
JPMORGAN
INVESTOR GROWTH FUND
ATTN
CLIENT SERVICES
500
STANTON CHRISTIANA RD DE3-3650
NEWARK
DE 19713-2105 |
24.57% |
|
|
|
|
JPMIM
AS AGENT FOR*
JPMORGAN
INVESTOR GROWTH AND
INCOME
ATTN
CLIENT SERVICES
500
STANTON CHRISTIANA RD DE3-3650
NEWARK
DE 19713-2105 |
11.15% |
|
|
|
|
JPMIM
AS AGENT FOR*
COTTAGE
HEALTH LONG TERM FUNDS
MULTI
ASSET SOLUTIONS MAIN
ATTN
CLIENT SETVICES
1111
POLARIS PKWY # OH1-0084
COLUMBUS
OH 43240-2031 |
8.45% |
JPMORGAN
EMERGING MARKETS RESEARCH ENHANCED EQUITY FUND | ||
CLASS
I SHARES |
NATIONAL
FINANCIAL SERVICES LLC
FOR
THE EXCLUSIVE BENEFIT OF OUR
CUSTOMERS
ATTN
MUTUAL FUNDS DEPT 4TH FL
499
WASHINGTON BLVD
JERSEY
CITY NJ 07310-1995 |
59.83% |
|
|
|
|
PERSHING
LLC
P.O.
BOX 2052
JERSEY
CITY NJ 07303-2052 |
17.24% |
|
|
|
|
LPL
FINANCIAL
OMNIBUS
CUSTOMER ACCOUNT
ATTN
MUTUAL FUND TRADING
4707
EXECUTIVE DR
SAN
DIEGO CA 92121-3091 |
16.90% |
|
|
|
CLASS
R6 SHARES |
ATTN
MUTUAL FUND OPERATIONS
MAC
& CO
500
GRANT ST RM 151-1010
PITTSBURGH
PA 15219-2502 |
17.78% |
|
|
|
|
JPMIM
AS AGENT FOR*
JPMORGAN
INVESTOR GROWTH FUND
ATTN
CLIENT SERVICES
500
STANTON CHRISTIANA RD DE3-3650
NEWARK
DE 19713-2105 |
5.69% |
Name
of Fund |
Name
and Address of Shareholder |
Percentage
Held |
|
|
|
|
JPMIM
AS AGENT FOR*
JPMORGAN
SMARTRETIREMENT 2040
FUND
ATTN
CLIENT SERVICES
500
STANTON CHRISTIANA RD DE3-3650
NEWARK
DE 19713-2105 |
5.10% |
|
|
|
|
JPMIM
AS AGENT FOR*
JPMORGAN
SMARTRETIREMENT BLEND
2040
ATTN
CLIENT SERVICES
500
STANTON CHRISTIANA RD DE3-3650
NEWARK
DE 19713-2105 |
5.02% |
JPMORGAN
INTERNATIONAL HEDGED EQUITY FUND | ||
CLASS
A SHARES |
CHARLES
SCHWAB & CO INC
SPECIAL
CUSTODY ACCOUNT FOR
BENEFIT
OF CUSTOMERS
ATTN:
MUTUAL FUNDS
211
MAIN ST
SAN
FRANCISCO CA 94105-1901 |
73.29% |
|
|
|
|
NATIONAL
FINANCIAL SERVICES LLC
FOR
EXCLUSIVE BENEFIT OF OUR
CUSTOMERS
499
WASHINGTON BLVD
ATTN
MUTUAL FUNDS DEPT 4TH FLOOR
JERSEY
CITY NJ 07310-1995 |
8.29% |
|
|
|
|
CHARLES
SCHWAB & CO INC
SPECIAL
CUSTODY A/C FBO CUSTOMERS
ATTN
MUTUAL FUNDS
211
MAIN STREET
SAN
FRANCISCO CA 94105-1901 |
5.55% |
|
|
|
CLASS
C SHARES |
AMERICAN
ENTERPRISE INVESTMENT SVC
FBO
707
2ND AVE S
MINNEAPOLIS
MN 55402-2405 |
40.44% |
|
|
|
|
PERSHING
LLC
P.O.
BOX 2052
JERSEY
CITY NJ 07303-2052 |
39.77% |
|
|
|
|
CHARLES
SCHWAB & CO INC
SPECIAL
CUSTODY A/C FBO CUSTOMERS
ATTN
MUTUAL FUNDS
211
MAIN STREET
SAN
FRANCISCO CA 94105-1901 |
13.44% |
Name
of Fund |
Name
and Address of Shareholder |
Percentage
Held |
|
|
|
CLASS
I SHARES |
NATIONAL
FINANCIAL SERVICES LLC
FOR
EXCLUSIVE BENEFIT OF OUR
CUSTOMERS
ATTN
MUTUAL FUNDS DEPT 4TH FL
499
WASHINGTON BLVD
JERSEY
CITY NJ 07310-1995 |
28.10% |
|
|
|
|
CHARLES
SCHWAB & CO INC
SPECIAL
CUSTODY ACCOUNT FOR
BENEFIT
OF CUSTOMERS
ATTN:
MUTUAL FUNDS
211
MAIN ST
SAN
FRANCISCO CA 94105-1901 |
19.06% |
|
|
|
|
LPL
FINANCIAL
OMNIBUS
CUSTOMER ACCOUNT
ATTN
MUTUAL FUND TRADING
4707
EXECUTIVE DR
SAN
DIEGO CA 92121-3091 |
15.36% |
|
|
|
|
SEI
PRIVATE TRUST COMPANY
C/O
SECURITY NATIONAL BANK OMAHA
ONE
FREEDOM VALLEY DRIVE
OAKS
PA 19456-9989 |
9.38% |
|
|
|
|
AMERICAN
ENTERPRISE INVESTMENT SVC
FBO
707
2ND AVE S
MINNEAPOLIS
MN 55402-2405 |
9.24% |
|
|
|
|
PERSHING
LLC
P.O.
BOX 2052
JERSEY
CITY NJ 07303-2052 |
6.54% |
|
|
|
|
LAKE
RIDGE BANK
6430
BRIDGE RD
MONONA
WI 53713-1846 |
5.85% |
|
|
|
CLASS
R5 SHARES |
JP
MORGAN INVESTMENT MGMT*
ATTN
LOREN STRIFE OH1-0185
1111
POLARIS PKWY
COLUMBUS
OH 43240-2031 |
100.00% |
|
|
|
CLASS
R6 SHARES |
CHARLES
SCHWAB & CO INC
SPECIAL
CUSTODY A/C FBO CUSTOMERS
ATTN
MUTUAL FUNDS
211
MAIN STREET
SAN
FRANCISCO CA 94105-1901 |
62.68% |
Name
of Fund |
Name
and Address of Shareholder |
Percentage
Held |
|
|
|
|
NATIONAL
FINANCIAL SERVICES LLC
FIIOC
AS AGENT FOR
QUALIFIED
EMPLOYEE BENEFIT
PLANS
(401K) FINOPS-IC FUNDS
100
MAGELLAN WAY # KW1C
COVINGTON
KY 41015-1987 |
32.68% |
5 | |
5 | |
7 | |
7 | |
8 | |
8 | |
9 | |
9 | |
9 | |
9 | |
9 | |
10 | |
11 | |
13 | |
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13 | |
14 | |
14 | |
14 | |
14 | |
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15 | |
15 | |
15 | |
17 | |
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17 | |
18 | |
19 | |
20 | |
23 | |
24 | |
25 | |
25 | |
25 | |
26 | |
27 | |
31 | |
31 | |
32 | |
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33 | |
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34 | |
34 | |
34 | |
35 | |
35 | |
35 |
36 | |
36 | |
36 | |
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37 | |
37 | |
38 | |
38 | |
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39 | |
41 | |
42 | |
42 | |
42 | |
43 | |
44 | |
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48 | |
50 | |
51 | |
51 | |
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53 | |
53 | |
54 | |
54 | |
55 | |
55 | |
55 | |
55 | |
55 | |
56 | |
56 | |
56 | |
56 | |
57 | |
58 | |
59 | |
59 | |
60 | |
61 | |
61 | |
62 | |
63 | |
63 | |
64 |
64 | |
66 | |
67 | |
67 | |
67 | |
68 | |
68 | |
69 | |
69 | |
70 | |
70 | |
70 | |
71 | |
80 | |
81 | |
81 | |
83 | |
84 | |
86 | |
86 | |
86 | |
87 | |
87 | |
87 | |
87 | |
89 | |
89 | |
91 | |
92 | |
96 | |
96 | |
97 | |
98 | |
99 | |
99 | |
100 | |
100 | |
100 | |
106 | |
110 | |
110 | |
113 | |
113 | |
113 | |
115 | |
115 | |
117 | |
117 | |
117 | |
123 | |
124 | |
125 |
125 | |
125 | |
129 | |
129 | |
130 | |
131 | |
133 | |
133 | |
133 | |
134 | |
134 | |
135 | |
136 | |
136 | |
137 | |
140 | |
141 | |
141 | |
141 | |
143 | |
144 | |
144 | |
145 | |
145 | |
146 | |
147 | |
148 | |
149 | |
159 | |
A-1 | |
B-1 |
Name
(Year of Birth; Term of Office,
and
Length of Time Served)(1)
|
Principal
Occupation(s)
During
Past 5 Years
(or
longer) |
Number
of Funds
in
Fund Complex
Overseen
by
Trustee(2)
|
Other
Trusteeships/
Directorships
Held
During
the Past 5 Years
(or
longer)(3)
|
Independent
Trustees |
|
|
|
John
F. Finn
(1947);
Chair, since 2020;
Trustee,
since 1998. |
Chairman,
Gardner,
Inc.
(supply chain
management
company
serving
industrial and
consumer
markets)
(serving
in various
roles
1974–present). |
167 |
Director,
Greif, Inc.
(GEF)
(industrial
package
products and
services)
(2007–2023);
Trustee,
Columbus
Association
for the
Performing
Arts (1988-
present). |
Stephen
P. Fisher
(1959);
Trustee, since 2018. |
Retired;
Chairman and
Chief
Executive
Officer,
NYLIFE
Distributors
LLC
(registered
broker-
dealer)
(serving in
various
roles 2008-
2013);
Chairman,
NYLIM
Service
Company
LLC
(transfer
agent) (2008-
2017);
New York Life
Investment
Management
LLC
(registered
investment
adviser)
(serving in
various
roles 2005-
2017);
Chairman,
IndexIQ
Advisors LLC
(registered
investment
adviser
for ETFs)
(2014-2017);
President,
MainStay
VP Funds
Trust
(2007-2017),
MainStay
DefinedTerm
Municipal
Opportunities
Fund
(2011-2017)
and Main-
Stay
Funds Trust
(2007-2017)
(registered
investment
companies). |
167 |
None. |
Gary
L. French
(1951);
Trustee, since 2014. |
Real
Estate Investor
(2011-2020);
Investment
management
industry
Consultant
and Expert
Witness
(2011-present);
Senior
Consultant for
The
Regulatory
Fundamentals
Group
LLC
(2011-2017). |
167 |
Independent
Trustee, The
China
Fund, Inc. (2013-
2019);
Exchange Traded
Concepts
Trust II (2012-
2014);
Exchange Traded
Concepts
Trust I (2011-
2014). |
Name
(Year of Birth; Term of Office,
and
Length of Time Served)(1) |
Principal
Occupation(s)
During
Past 5 Years
(or
longer) |
Number
of Funds
in
Fund Complex
Overseen
by
Trustee(2) |
Other
Trusteeships/
Directorships
Held
During
the Past 5 Years
(or
longer)(3) |
Kathleen
M. Gallagher
(1958);
Trustee, since 2018. |
Retired;
Chief
Investment
Officer –
Benefit
Plans, Ford
Motor
Company
(serving
in various
roles
1985-2016). |
167 |
Non-Executive
Director,
Legal
& General
Investment
Management
(Holdings)
(2018-
present);
Non-Executive
Director,
Legal &
General
Investment
Management
America
(U.S.
Holdings)
(financial
services and
insurance)
(2017-
present);
Advisory Board
Member,
State Street
Global
Advisors Total
Portfolio
Solutions
(2017-present);
Member,
Client
Advisory Council,
Financial
Engines, LLC
(registered
investment
adviser)
(2011-2016);
Director,
Ford Pension
Funds
Investment
Management
Ltd. (2007-
2016). |
Robert
J. Grassi
(1957);
Trustee, since 2014. |
Sole
Proprietor,
Academy
Hills
Advisors
LLC (2012-
present);
Pension
Director,
Corning
Incorporated
(2002-
2012). |
167 |
None. |
Frankie
D. Hughes
(1952);
Trustee, since 2008. |
President,
Ashland
Hughes
Properties
(property
management)
(2014–present);
President
and Chief
Investment
Officer,
Hughes
Capital
Management,
Inc.
(fixed
income asset
management)
(1993–
2014). |
167 |
None. |
Name
(Year of Birth; Term of Office,
and
Length of Time Served)(1) |
Principal
Occupation(s)
During
Past 5 Years
(or
longer) |
Number
of Funds
in
Fund Complex
Overseen
by
Trustee(2) |
Other
Trusteeships/
Directorships
Held
During
the Past 5 Years
(or
longer)(3) |
Raymond
Kanner
(1953);
Trustee, since 2017. |
Retired;
Managing
Director
and Chief
Investment
Officer,
IBM
Retirement Funds
(2007–2016). |
167 |
Advisory
Board
Member,
Penso
Advisors,
LLC (2020-
present);
Advisory Board
Member,
Los Angeles
Capital
(2018-present);
Advisory
Board
Member,
State Street
Global
Advisors Total
Portfolio
Solutions
(2017-present);
Acting
Executive
Director,
Committee
on
Investment
of Employee
Benefit
Assets (CIEBA)
(2016-2017);
Advisory
Board
Member,
Betterment
for Business
(robo
advisor) (2016–
2017);
Advisory Board
Member,
BlueStar
Indexes
(index creator)
(2013–2017);
Director,
Emerging
Markets
Growth
Fund (registered
investment
company)
(1997-2016);
Member,
Russell
Index Client
Advisory
Board (2001-
2015). |
Thomas
P. Lemke
(1954);
Trustee, since 2014. |
Retired
since 2013. |
167 |
Independent
Trustee of
Advisors’
Inner Circle III
fund
platform, consisting
of
the following: (i) the
Advisors’
Inner Circle
Fund
III, (ii) the Gallery
Trust,
(iii) the Schroder
Series
Trust, (iv) the
Delaware
Wilshire
Private
Markets Fund
(since
2020), (v) Chiron
Capital
Allocation Fund
Ltd.,
(vi) formerly the
Winton
Diversified
Opportunities
Fund
(2014-2018),
and (vii)
Symmetry
Panoramic
Trust
(since 2018). |
Lawrence
R. Maffia
(1950);
Trustee, since 2014. |
Retired;
Director and
President,
ICI Mutual
Insurance
Company
(2006-2013). |
167 |
Director,
ICI Mutual
Insurance
Company
(1999-2013). |
Name
(Year of Birth; Term of Office,
and
Length of Time Served)(1) |
Principal
Occupation(s)
During
Past 5 Years
(or
longer) |
Number
of Funds
in
Fund Complex
Overseen
by
Trustee(2) |
Other
Trusteeships/
Directorships
Held
During
the Past 5 Years
(or
longer)(3) |
Mary
E. Martinez
(1960);
Vice Chair, since 2021;
Trustee,
since 2013. |
Associate,
Special
Properties,
a Christie’s
International
Real
Estate
Affiliate (2010–
present);
Managing
Director,
Bank of
America
(asset
management)
(2007–
2008);
Chief Operating
Officer,
U.S. Trust
Asset
Management,
U.S.
Trust Company
(asset
management)
(2003–2007);
President,
Excelsior
Funds
(registered
investment
companies)
(2004–2005). |
167 |
None. |
Marilyn
McCoy
(1948);
Trustee, since 1999. |
Retired;
Vice President
of
Administration and
Planning,
Northwestern
University
(1985–
2023). |
167 |
None. |
Dr.
Robert A. Oden, Jr.
(1946);
Trustee, since 1997. |
Retired;
President,
Carleton
College
(2002–2010);
President,
Kenyon
College
(1995–2002). |
167 |
Trustee,
The Coldwater
Conservation
Fund;
Trustee,
American
Museum
of Fly Fishing
(2013–present);
Trustee
and
Vice Chair, Trout
Unlimited
(2017-2021);
Trustee,
Dartmouth-
Hitchcock
Medical
Center
(2011–2020). |
Marian
U. Pardo
(1946);
Trustee, since 2013. |
Managing
Director and
Founder,
Virtual
Capital
Management
LLC
(investment
consulting)
(2007–
present);
Managing
Director,
Credit Suisse
Asset
Management
(portfolio
manager)
(2003–2006). |
167 |
Board
Chair and
Member,
Board of
Governors,
Columbus
Citizens
Foundation
(not-for-profit
supporting
philanthropic
and
cultural programs)
(2006–present). |
Name
(Year of Birth; Term of Office,
and
Length of Time Served)(1) |
Principal
Occupation(s)
During
Past 5 Years
(or
longer) |
Number
of Funds
in
Fund Complex
Overseen
by
Trustee(2) |
Other
Trusteeships/
Directorships
Held
During
the Past 5 Years
(or
longer)(3) |
Emily
A. Youssouf
(1951);
Trustee, since 2014. |
Adjunct
Professor
(2011-present)
and
Clinical
Professor
(2009-2011),
NYU
Schack
Institute of Real
Estate;
Board Member
and
Member of the
Audit
Committee
(2013-present),
Chair
of
Finance Committee
(2019-present),
Member
of Related
Parties
Committee
(2013-2018)
and
Member
of the
Enterprise
Risk
Committee
(2015-
2018),
PennyMac
Financial
Services,
Inc.;
Board Member
(2005-2018),
Chair of
Capital
Committee
(2006-2016),
Chair of
Audit
Committee
(2005-2018),
Member
of
Finance Committee
(2005-2018)
and Chair
of
IT Committee
(2016-2018),
NYC
Health
and Hospitals
Corporation. |
167 |
Trustee,
NYC School
Construction
Authority
(2009-present);
Board
Member,
NYS Job
Development
Authority
(2008-present);
Trustee
and
Chair of the Audit
Committee
of the Transit
Center
Foundation
(2015-2019). |
Interested
Trustees |
|
|
|
Robert
F. Deutsch(4)
(1957);
Trustee, since 2014. |
Retired;
Head of ETF
Business
for JPMorgan
Asset
Management
(2013-2017);
Head of
Global
Liquidity
Business
for JPMorgan
Asset
Management
(2003-2013). |
167 |
Treasurer
and Director of
the
JUST Capital
Foundation
(2017-
present). |
Nina
O. Shenker(4)
(1957);
Trustee, since 2022. |
Vice
Chair (2017-
2021),
General Counsel
and
Managing Director
(2008-2016),
Associate
General
Counsel and
Managing
Director
(2004-2008),
J.P.
Morgan
Asset & Wealth
Management. |
167 |
Director
and Member of
Executive,
Legal and
Human
Resources
Committees;
American
Jewish
Joint Distribution
Committee
(2018-present). |
Name
of Committee |
Members |
Committee
Chair |
Audit
and Valuation Committee |
Ms.
Gallagher
Mr.
Maffia
Mr.
French
Mr.
Kanner |
Ms.
Gallagher |
Compliance
Committee |
Ms.
Pardo
Mr.
Fisher
Ms.
Hughes
Mr.
Lemke |
Ms.
Pardo |
Governance
Committee |
Mr.
Finn
Ms.
Martinez
Ms.
McCoy
Dr.
Oden |
Mr.
Finn |
ETF
Committee |
Mr.
Deutsch
Mr.
Fisher
Mr.
Grassi
Ms.
Hughes
Ms.
Shenker
Ms.
Youssouf |
Mr.
Deutsch |
Equity
Committee |
Mr.
Kanner
Mr.
French
Mr.
Maffia
Ms.
Pardo |
Mr.
Kanner |
Fixed
Income Committee |
Dr.
Oden
Mr.
Grassi
Ms.
Hughes
Ms.
Martinez
Ms.
Shenker
Ms.
Youssouf |
Dr.
Oden |
Money
Market and Alternative
Products
Committee |
Mr.
Fisher
Mr.
Deutsch
Ms.
Gallagher
Mr.
Lemke
Ms.
McCoy |
Mr.
Fisher |
Name
(Year of Birth),
Positions
Held with
the
Trusts (Since) |
Principal
Occupations During Past 5 Years |
Brian
S. Shlissel (1964),
President
and Principal
Executive
Officer (2016) |
Managing
Director and Chief Administrative Officer for J.P.
Morgan
pooled vehicles, J.P. Morgan Investment Management Inc.
since
2014. |
Timothy
J. Clemens (1975),
Treasurer
and Principal
Financial
Officer (2018) |
Managing
Director, J.P. Morgan Investment Management Inc. Mr.
Clemens
has been with J.P. Morgan Investment Management Inc.
since
2013. |
Gregory
S. Samuels (1980),
Secretary
(2019) (formerly
Assistant
Secretary 2010-2019) |
Managing
Director and Assistant General Counsel, JPMorgan
Chase.
Mr. Samuels has been with JPMorgan Chase since
2010. |
Stephen
M. Ungerman (1953),
Chief
Compliance Officer
(2005) |
Managing
Director, JPMorgan Chase & Co. Mr. Ungerman has been
with
JPMorgan Chase & Co. since
2000. |
Name
(Year of Birth),
Positions
Held with
the
Trusts (Since) |
Principal
Occupations During Past 5 Years |
Kiesha
Astwood-Smith (1973),
Assistant
Secretary (2021) |
Vice
President and Assistant General Counsel, JPMorgan Chase
since
June 2021; Senior Director and Counsel, Equitable Financial
Life
Insurance Company (formerly, AXA Equitable Life Insurance
Company)
from September 2015 through June 2021. |
Matthew
Beck (1988),
Assistant
Secretary (2021)* |
Vice
President and Assistant General Counsel, JPMorgan Chase
since
May 2021; Senior Legal Counsel, Ultimus Fund Solutions
from
May 2018 through May 2021; General Counsel, The
Nottingham
Company from April 2014 through May 2018. |
Elizabeth
A. Davin (1964),
Assistant
Secretary (2005)* |
Executive
Director and Assistant General Counsel, JPMorgan
Chase.
Ms. Davin has been with JPMorgan Chase (formerly Bank
One
Corporation) since 2004. |
Jessica
K. Ditullio (1962),
Assistant
Secretary (2005)* |
Executive
Director and Assistant General Counsel, JPMorgan
Chase.
Ms. Ditullio has been with JPMorgan Chase (formerly Bank
One
Corporation) since 1990. |
Anthony
Geron (1971), Assistant
Secretary
(2018) |
Vice
President and Assistant General Counsel, JPMorgan Chase
since
September 2018; Lead Director and Counsel, AXA Equitable
Life
Insurance Company from 2015 to 2018 and Senior Director and
Counsel,
AXA Equitable Life Insurance Company from 2014 to
2015. |
Carmine
Lekstutis (1980),
Assistant
Secretary (2011) |
Executive
Director and Assistant General Counsel, JPMorgan
Chase.
Mr. Lekstutis has been with JPMorgan Chase since
2011. |
Max
Vogel (1990),
Assistant
Secretary (2021) |
Vice
President and Assistant General Counsel, JPMorgan Chase
since
June 2021; Associate, Proskauer Rose LLP (law firm) from
March
2017 to June 2021. |
Zachary
E. Vonnegut-Gabovitch
(1986),
Assistant
Secretary (2017) |
Executive
Director and Assistant General Counsel, JPMorgan
Chase.
Mr. Vonnegut-Gabovitch has been with JPMorgan Chase
since
September 2016. |
Frederick
J. Cavaliere (1978),
Assistant
Treasurer (2015)** |
Executive
Director, J.P. Morgan Investment Management Inc. Mr.
Cavaliere
has been with JPMorgan since May 2006. |
Michael
M. D’Ambrosio (1969),
Assistant
Treasurer (2012) |
Managing
Director, J.P. Morgan Investment Management Inc. Mr.
D’Ambrosio
has been with J.P. Morgan Investment Management
Inc.
since 2012. |
Aleksandr
Fleytekh (1972),
Assistant
Treasurer (2019) |
Executive
Director, J.P. Morgan Investment Management Inc. Mr.
Fleytekh
has been with J.P. Morgan Investment Management Inc.
since
February 2012. |
Shannon
Gaines (1977),
Assistant
Treasurer (2018)* |
Executive
Director, J.P. Morgan Investment Management Inc. Mr.
Gaines
has been with J.P. Morgan Investment Management Inc.
since
January 2014. |
Jeffrey
D. House (1972),
Assistant
Treasurer (2017)* |
Vice
President, J.P. Morgan Investment Management Inc. Mr. House
has
been with J.P. Morgan Investment Management Inc. since July
2006. |
Michael
Mannarino (1985),
Assistant
Treasurer (2020) |
Vice
President, J.P. Morgan Investment Management Inc. Mr.
Mannarino
has been with J.P. Morgan Investment Management Inc.
since
2014. |
Joseph
Parascondola (1963),
Assistant
Treasurer (2011)** |
Executive
Director, J.P. Morgan Investment Management Inc. Mr.
Parascondola
has been with J.P. Morgan Investment Management
Inc.
since 2006. |
Gillian
I. Sands (1969), Assistant
Treasurer
(2012) |
Executive
Director, J.P. Morgan Investment Management Inc. Ms.
Sands
has been with J.P. Morgan Investment Management Inc. since
September
2012. |
Money
Market Funds1: |
|
|
Tier
One |
First
$250 billion |
0.0013% |
Tier
Two |
Over
$250 billion |
0.0010% |
All
Funds except Money Market Funds: |
|
|
Tier
One |
Up
to $100 billion |
0.00375% |
Tier
Two |
$100
billion to $175 billion |
0.0030% |
Tier
Three |
$175
billion to $600 billion |
0.0020% |
Tier
Four |
Over
$600 billion |
0.0015% |
Other
Fees: |
|
|
Additional
Share Classes (this additional class
expense
applies after the tenth class) |
|
$2,000
per Class |
Daily
Market-based Net Asset Value Calculation
for
Money Market Funds |
|
$15,000
per Fund |
Hourly
Net Asset Value Calculation for Money
Market
Funds |
|
$5,000
per Fund |
Floating
NAV Support for Money Market Funds |
|
$100,000
per Fund |
Annual
Minimums: |
|
Money
Market Funds |
$15,000
per Fund |
All
Other Funds |
$20,000
per Fund |
A-1 |
A
short-term obligation rated ‘A-1’ is rated in the highest category by
S&P Global
Ratings.
The obligor’s capacity to meet its financial commitments on the obligation
is
strong.
Within this category, certain obligations are designated with a plus sign
(+). This
indicates
that the obligor’s capacity to meet its financial commitments on these
obligations
is extremely strong. |
A-2 |
A
short-term obligation rated ‘A-2’ is somewhat more susceptible to the
adverse effects
of
changes in circumstances and economic conditions than obligations in
higher rating
categories.
However, the obligor’s capacity to meet its financial commitments on the
obligation
is satisfactory. |
A-3 |
A
short-term obligation rated ‘A-3’ exhibits adequate protection parameters.
However,
adverse
economic conditions or changing circumstances are more likely to weaken an
obligor’s
capacity to meet its financial commitments on the
obligation. |
B |
A
short-term obligation rated ‘B' is regarded as vulnerable and has
significant
speculative
characteristics. The obligor currently has the capacity to meet its
financial
commitments;
however, it faces major ongoing uncertainties that could lead to the
obligor's
inadequate capacity to meet its financial
commitments. |
C |
A
short-term obligation rated ‘C’ is currently vulnerable to nonpayment and
is
dependent
upon favorable business, financial, and economic conditions for the
obligor
to
meet its financial commitments on the obligation. |
D |
A
short-term obligation rated ‘D’ is in default or in breach of an imputed
promise. For
non-hybrid
capital instruments, the ‘D’ rating category is used when payments on an
obligation
are not made on the date due, unless S&P Global Ratings believes that
such
payments
will be made within any stated grace period. However, any stated grace
period
longer
than five business days will be treated as five business days. The ‘D’
rating also
will
be used upon the filing of a bankruptcy petition or the taking of a
similar action and
where
default on an obligation is a virtual certainty, for example due to
automatic stay
provisions.
A rating on an obligation is lowered to ‘D’ if it is subject to a
distressed debt
restructuring. |
F1 |
HIGHEST
SHORT-TERM CREDIT QUALITY. Indicates the strongest intrinsic
capacity
for timely payment of financial commitments; may have an added “+” to
denote
any exceptionally strong credit feature. |
F2 |
GOOD
SHORT-TERM CREDIT QUALITY. Good intrinsic capacity for timely payment
of
financial commitments. |
F3 |
FAIR
SHORT-TERM CREDIT QUALITY. The intrinsic capacity for timely payment of
financial
commitments is
adequate. |
B |
SPECULATIVE
SHORT-TERM CREDIT QUALITY. Minimal capacity for timely
payment
of financial commitments, plus heightened vulnerability to near term
adverse
changes
in financial and economic conditions. |
C |
HIGH
SHORT-TERM DEFAULT RISK. Default is a real
possibility. |
RD |
RESTRICTED
DEFAULT. Indicates an entity that has defaulted on one or more of its
financial
commitments, although it continues to meet other financial obligations.
Typically
applicable to entity ratings only. |
D |
DEFAULT.
Indicates a broad-based default event for an entity, or the default of a
short-
term
obligation. |
P-1 |
Ratings
of Prime-1 reflect a superior ability to repay short-term debt
obligations. |
P-2 |
Ratings
of Prime-2 reflect a strong ability to repay short-term debt
obligations. |
P-3 |
Ratings
of Prime-3 reflect an acceptable ability to repay short-term
obligations. |
NP |
Issuers
(or supporting institutions) rated Not Prime do not fall within any of the
Prime
rating
categories. |
R-1
(high) |
Highest
credit quality. The capacity for the payment of short-term financial
obligations
as
they fall due is exceptionally high. Unlikely to be adversely affected by
future events. |
R-1
(middle) |
Superior
credit quality. The capacity for the payment of short-term financial
obligations
as
they fall due is very high. Differs from R-1 (high) by a relatively modest
degree.
Unlikely
to be significantly vulnerable to future events. |
R-1
(low) |
Good
credit quality. The capacity for the payment of short-term financial
obligations as
they
fall due is substantial. Overall strength is not as favorable as higher
rating
categories.
May be vulnerable to future events, but qualifying negative factors are
considered
manageable. |
R-2
(high) |
Upper
end of adequate credit quality. The capacity for the payment of short-term
financial
obligations as they fall due is acceptable. May be vulnerable to future
events. |
R-2
(middle) |
Adequate
credit quality. The capacity for the payment of short-term financial
obligations
as they fall due is acceptable. May be vulnerable to future events or may
be
exposed
to other factors that could reduce credit
quality. |
R-2
(low) |
Lower
end of adequate credit quality. The capacity for the payment of short-term
financial
obligations as they fall due is acceptable. May be vulnerable to future
events.
A
number of challenges are present that could affect the issuer’s ability to
meet such
obligations. |
R-3 |
Lowest
end of adequate credit quality. There is a capacity for the payment of
short-term
financial
obligations as they fall due. May be vulnerable to future events and the
certainty
of meeting such obligations could be impacted by a variety of
developments. |
R-4 |
Speculative
credit quality. The capacity for the payment of short-term financial
obligations
as they fall due is uncertain. |
R-5 |
Highly
speculative credit quality. There is a high level of uncertainty as to the
capacity
to
meet short-term financial obligations as they fall
due. |
D |
When
the issuer has filed under any applicable bankruptcy, insolvency or
winding up
statute
or there is a failure to satisfy an obligation after the exhaustion of
grace periods,
a
downgrade to D may occur. DBRS Morningstar may also use SD (Selective
Default)
in
cases where only some securities are impacted, such as the case of a
“distressed
exchange.” |
AAA |
An
obligation rated ‘AAA’ has the highest rating assigned by S&P Global
Ratings. The
obligor’s
capacity to meet its financial commitments on the obligation is extremely
strong. |
AA |
An
obligation rated ‘AA’ differs from the highest-rated obligations only to a
small
degree.
The obligor’s capacity to meet its financial commitments on the obligation
is
very
strong. |
A |
An
obligation rated ‘A’ is somewhat more susceptible to the adverse effects
of changes
in
circumstances and economic conditions than obligations in higher-rated
categories.
However,
the obligor’s capacity to meet its financial commitments on the obligation
is
still
strong. |
BBB |
An
obligation rated ‘BBB’ exhibits adequate protection parameters. However,
adverse
economic
conditions or changing circumstances are more likely to weaken the
obligor’s
capacity
to meet its financial commitments on the
obligation. |
BB,B,CCC,CC
and
C |
Obligations
rated ‘BB’, ‘B’, ‘CCC’, ‘CC’, and ‘C’ are regarded as having significant
speculative
characteristics. ‘BB’ indicates the least degree of speculation and ‘C’
the
highest.
While such obligations will likely have some quality and protective
characteristics,
these may be outweighed by large uncertainties or major exposure to
adverse
conditions. |
BB |
An
obligation rated ‘BB’ is less vulnerable to nonpayment than other
speculative issues.
However,
it faces major ongoing uncertainties or exposure to adverse business,
financial,
or economic conditions that could lead to the obligor’s inadequate
capacity to
meet
its financial commitments on the obligation. |
B |
An
obligation rated ‘B’ is more vulnerable to nonpayment than obligations
rated ‘BB’,
but
the obligor currently has the capacity to meet its financial commitments
on the
obligation.
Adverse business, financial, or economic conditions will likely impair the
obligor’s
capacity or willingness to meet its financial commitments on the
obligation. |
CCC |
An
obligation rated ‘CCC’ is currently vulnerable to nonpayment, and is
dependent
upon
favorable business, financial, and economic conditions for the obligor to
meet its
financial
commitments on the obligation. In the event of adverse business,
financial, or
economic
conditions, the obligor is not likely to have the capacity to meet its
financial
commitments
on the obligation. |
CC |
An
obligation rated ‘CC’ is currently highly vulnerable to nonpayment. The
‘CC’ rating
is
used when a default has not yet occurred but S&P Global Ratings
expects default to
be
a virtual certainty, regardless of the anticipated time to
default. |
C |
An
obligation rated ‘C’ is currently highly vulnerable to nonpayment, and the
obligation
is
expected to have lower relative seniority or lower ultimate recovery
compared with
obligations
that are rated higher. |
D |
An
obligation rated ‘D’ is in default or in breach of an imputed promise. For
non-hybrid
capital
instruments, the ‘D’ rating category is used when payments on an
obligation are
not
made on the date due, unless S&P Global Ratings believes that such
payments will
be
made within five business days in the absence of a stated grace period or
within the
earlier
of the stated grace period or 30 calendar days. The ‘D’ rating also will
be used
upon
the filing of a bankruptcy petition or the taking of similar action and
where default
on
an obligation is a virtual certainty, for example due to automatic stay
provisions. A
rating
on an obligation is lowered to ‘D’ if it is subject to a distressed debt
restructuring. |
AAA |
HIGHEST
CREDIT QUALITY. ‘AAA’ ratings denote the lowest expectation of default
risk.
They are assigned only in cases of exceptionally strong capacity for
payment of
financial
commitments. This capacity is highly unlikely to be adversely affected by
foreseeable
events. |
AA |
VERY
HIGH CREDIT QUALITY. ‘AA’ ratings denote expectations of very low default
risk.
They indicate very strong capacity for payment of financial commitments.
This
capacity
is not significantly vulnerable to foreseeable
events. |
A |
HIGH
CREDIT QUALITY. ‘A’ ratings denote expectations of low default risk. The
capacity
for payment of financial commitments is considered strong. This capacity
may,
nevertheless,
be more vulnerable to adverse business or economic conditions than is the
case
for higher ratings. |
BBB |
GOOD
CREDIT QUALITY. ‘BBB’ ratings indicate that expectations of default risk
are
currently
low. The capacity for payment of financial commitments is considered
adequate,
but adverse business or economic conditions are more likely to impair this
capacity. |
BB |
SPECULATIVE.
‘BB’ ratings indicate an elevated vulnerability to default risk,
particularly
in the event of adverse changes in business or economic conditions over
time;
however, business or financial flexibility exists that supports the
servicing of
financial
commitments. |
B |
HIGHLY
SPECULATIVE. ‘B’ ratings indicate that material default risk is present,
but a
limited
margin of safety remains. Financial commitments are currently being met;
however,
capacity for continued payment is vulnerable to deterioration in the
business
and
economic environment. |
CCC |
SUBSTANTIAL
CREDIT RISK. Default is a real possibility. |
CC |
VERY
HIGH LEVELS OF CREDIT RISK. Default of some kind appears
probable. |
C |
NEAR
DEFAULT. A default or default-like process has begun, or the issuer is in
standstill,
or for a closed funding vehicle, payment capacity is irrevocably impaired.
Conditions
that are indicative of a ‘C’ category rating for an issuer
include: |
|
•the
issuer has entered into a grace or cure period following non-payment of a
material
financial obligation;
•the
issuer has entered into a temporary negotiated waiver or standstill
agreement
following
a payment default on a material financial obligation;
•the
formal announcement by the issuer or their agent of a distressed debt
exchange;
•a
closed financing vehicle where payment capacity is irrevocably impaired
such that
it
is not expected to pay interest and/or principal in full during the life
of the
transaction,
but where no payment default is imminent. |
RD |
RESTRICTED
DEFAULT. ‘RD’ ratings indicate an issuer that in Fitch’s opinion has
experienced: |
|
•an
uncured payment default or distressed debt exchange on a bond, loan or
other
material
financial obligation, but
•has
not entered into bankruptcy filings, administration, receivership,
liquidation or
other
formal winding-up procedure, and
•has
not otherwise ceased operating. This would include:
•the
selective payment default on a specific class or currency of
debt;
•the
uncured expiry of any applicable grace period, cure period or default
forbearance
period
following a payment default on a bank loan, capital markets security or
other
material
financial obligation;
•the
extension of multiple waivers or forbearance periods upon a payment
default on
one
or more material financial obligations, either in series or in parallel;
ordinary
execution
of a distressed debt exchange on one or more material financial
obligations. |
D |
DEFAULT.
‘D’ ratings indicate an issuer that in Fitch Ratings’ opinion has entered
into
bankruptcy filings, administration, receivership, liquidation or other
formal
winding-up
procedure or that has otherwise ceased
business. |
Aaa |
Obligations
rated Aaa are judged to be of the highest quality, with minimal
risk. |
Aa |
Obligations
rated Aa are judged to be of high quality and are subject to very low
credit
risk. |
A |
Obligations
rated A are judged to be upper-medium-grade and are subject to low credit
risk. |
Baa |
Obligations
rated Baa are subject to moderate credit risk. They are considered
medium-
grade
and as such may possess certain speculative
characteristics. |
Ba |
Obligations
rated Ba are judged to have speculative elements and are subject to
substantial
credit risk. |
B |
Obligations
rated B are considered speculative and are subject to high credit
risk. |
Caa |
Obligations
rated Caa are judged to be of poor standing and are subject to very high
credit
risk. |
Ca |
Obligations
rated Ca are highly speculative and are likely in, or very near, default,
with
some
prospect of recovery in principal and interest. |
C |
Obligations
rated C are the lowest-rated class of bonds and are typically in default,
with
little
prospect for recovery of principal or
interest. |
AAA |
Highest
credit quality. The capacity for the payment of financial obligations is
exceptionally
high and unlikely to be adversely affected by future
events. |
AA |
Superior
credit quality. The capacity for the payment of financial obligations is
considered
high. Credit quality differs from AAA only to a small degree. Unlikely to
be
significantly
vulnerable to future events. |
A |
Good
credit quality. The capacity for the payment of financial obligations is
substantial,
but
of lesser credit quality than AA. May be vulnerable to future events, but
qualifying
negative
factors are considered manageable. |
BBB |
Adequate
credit quality. The capacity for the payment of financial obligations is
considered
acceptable. May be vulnerable to future events. |
BB |
Speculative,
non-investment grade credit quality. The capacity for the payment of
financial
obligations is uncertain. Vulnerable to future
events. |
B |
Highly
speculative credit quality. There is a high level of uncertainty as to the
capacity
to
meet financial obligations. |
CCC/CC/C |
Very
highly speculative credit quality. In danger of defaulting on financial
obligations.
There
is little difference between these three categories, although CC and C
ratings are
normally
applied to obligations that are seen as highly likely to default, or
subordinated
to
obligations rated in the CCC to B range. Obligations in respect of which
default has
not
technically taken place but is considered inevitable may be rated in the C
category. |
D |
When
the issuer has filed under any applicable bankruptcy, insolvency or
winding up
statute
or there is a failure to satisfy an obligation after the exhaustion of
grace periods,
a
downgrade to D may occur. DBRS Morningstar may also use SD (Selective
Default)
in
cases where only some securities are impacted, such as the case of a
“distressed
exchange.” |
AAA |
An
insurer rated ‘AAA’ has extremely strong financial security
characteristics. ‘AAA’ is
the
highest insurer financial strength rating assigned by S&P Global
Ratings. |
AA |
An
insurer rated ‘AA’ has very strong financial security characteristics,
differing only
slightly
from those rated higher. |
A |
An
insurer rated ‘A’ has strong financial security characteristics, but is
somewhat more
likely
to be affected by adverse business conditions than are insurers with
higher ratings. |
BBB |
An
insurer rated ‘BBB’ has good financial security characteristics, but is
more likely to
be
affected by adverse business conditions than are higher-rated
insurers. |
BB,
B, CCC,
and
CC |
An
insurer rated ‘BB’ or lower is regarded as having vulnerable
characteristics that may
outweigh
its strengths, ‘BB’ indicates the least degree of vulnerability within the
range
and
‘CC’ the highest. |
BB |
An
insurer rated ‘BB’ has marginal financial security characteristics.
Positive attributes
exist,
but adverse business conditions could lead to insufficient ability to meet
financial
commitments. |
B |
An
insurer rated ‘B’ has weak financial security characteristics. Adverse
business
conditions
will likely impair its ability to meet financial
commitments. |
CCC |
An
insurer rated ‘CCC’ has very weak financial security characteristics, and
is
dependent
on favorable business conditions to meet financial
commitments. |
CC |
An
insurer rated ‘CC’ has extremely weak financial security characteristics
and is likely
not
to meet some of its financial commitments. |
SD
and D |
An
insurer rated ‘SD’ (selective default) or ‘D’ is in default on one or more
of its
insurance
policy obligations.
The
‘D’ rating also will be used upon the filing of a bankruptcy petition or
the taking of
similar
action if payments on a policy obligation are at risk. A ‘D’ rating is
assigned
when
S&P Global Ratings believes that the default will be a general default
and that the
obligor
will fail to pay substantially all of its obligations in full in
accordance with the
policy
terms.
An
‘SD’ rating is assigned when S&P Global Ratings believes that the
insurer has
selectively
defaulted on a specific class of policies but it will continue to meet its
payment
obligations on other classes of obligations. An ‘SD’ includes the
completion of
a
distressed debt restructuring. Claim denials due to lack of coverage or
other legally
permitted
defenses are not considered
defaults. |
AAA |
EXCEPTIONALLY
STRONG. ‘AAA’ IFS Ratings denote the lowest expectation of
ceased
or interrupted payments. They are assigned only in the case of
exceptionally
strong
capacity to meet policyholder and contract obligations. This capacity is
highly
unlikely
to be adversely affected by foreseeable events. |
AA |
VERY
STRONG. ‘AA’ IFS Ratings denote a very low expectation of ceased or
interrupted
payments. They indicate very strong capacity to meet policyholder and
contract
obligations. This capacity is not significantly vulnerable to foreseeable
events. |
A |
STRONG.
‘A’ IFS Ratings denote a low expectation of ceased or interrupted
payments.
They
indicate strong capacity to meet policyholder and contract obligations.
This
capacity
may, nonetheless, be more vulnerable to changes in circumstances or in
economic
conditions than is the case for higher ratings. |
BBB |
GOOD.
‘BBB’ IFS Ratings indicate that there is currently a low expectation of
ceased
or
interrupted payments. The capacity to meet policyholder and contract
obligations on
a
timely basis is considered adequate, but adverse changes in circumstances
and
economic
conditions are more likely to impact this
capacity. |
BB |
MODERATELY
WEAK. ‘BB’ IFS Ratings indicate that there is an elevated
vulnerability
to ceased or interrupted payments, particularly as the result of adverse
economic
or market changes over time. However, business or financial alternatives
may
be
available to allow for policyholder and contract obligations to be met in
a timely
manner. |
B |
WEAK.
‘B’ IFS Ratings indicate two possible conditions. If obligations are still
being
met
on a timely basis, there is significant risk that ceased or interrupted
payments could
occur
in the future, but a limited margin of safety remains. Capacity for
continued
timely
payments is contingent upon a sustained, favorable business and economic
environment,
and favorable market conditions. Alternatively, a ‘B’ IFS Rating is
assigned
to obligations that have experienced ceased or interrupted payments, but
with
the
potential for extremely high recoveries. Such obligations would possess a
recovery
assessment
of ‘RR1’ (Outstanding). |
CCC |
VERY
WEAK. ‘CCC’ IFS Ratings indicate two possible conditions. If obligations
are
still
being met on a timely basis, there is a real possibility that ceased or
interrupted
payments
could occur in the future. Capacity for continued timely payments is
solely
reliant
upon a sustained, favorable business and economic environment, and
favorable
market
conditions. Alternatively, a ‘CCC’ IFS Rating is assigned to obligations
that have
experienced
ceased or interrupted payments, and with the potential for average to
superior
recoveries. Such obligations would possess a recovery assessment of ‘RR2’
(Superior),
‘RR3’ (Good), and ‘RR4’
(Average). |
CC |
EXTREMELY
WEAK. ‘CC’ IFS Ratings indicate two possible conditions. If
obligations
are still being met on a timely basis, it is probable that ceased or
interrupted
payments
will occur in the future. Alternatively, a ‘CC’ IFS Rating is assigned to
obligations
that have experienced ceased or interrupted payments, with the potential
for
average
to below-average recoveries. Such obligations would possess a recovery
assessment
of ‘RR4’ (Average) or ‘RR5’ (Below Average). |
C |
DISTRESSED.
‘C’ IFS Ratings indicate two possible conditions. If obligations are still
being
met on a timely basis, ceased or interrupted payments are imminent.
Alternatively,
a
‘C’ IFS Rating is assigned to obligations that have experienced ceased or
interrupted
payments,
and with the potential for below average to poor recoveries. Such
obligations
would
possess a recovery assessment of ‘RR5’ (Below Average) or ‘RR6’
(Poor). |
F1 |
Insurers
are viewed as having a strong capacity to meet their near-term
obligations.
When
an insurer rated in this rating category is designated with a (+) sign, it
is viewed
as
having a very strong capacity to meet near-term
obligations. |
F2 |
Insurers
are viewed as having a good capacity to meet their near-term
obligations. |
F3 |
Insurers
are viewed as having an adequate capacity to meet their near-term
obligations. |
B |
Insurers
are viewed as having a weak capacity to meet their near-term
obligations. |
C |
Insurers
are viewed as having a very weak capacity to meet their near-term
obligations. |
RR1 |
OUTSTANDING
RECOVERY PROSPECTS GIVEN DEFAULT. ‘RR1’ rated securities
have
characteristics consistent with securities historically recovering
91%–100% of
current
principal and related interest. |
RR2 |
SUPERIOR
RECOVERY PROSPECTS GIVEN DEFAULT. ‘RR2’ rated securities have
characteristics
consistent with securities historically recovering 71%–90% of current
principal
and related interest. |
RR3 |
GOOD
RECOVERY PROSPECTS GIVEN DEFAULT. ‘RR3’ rated securities have
characteristics
consistent with securities historically recovering 51%–70% of current
principal
and related interest. |
RR4 |
AVERAGE
RECOVERY PROSPECTS GIVEN DEFAULT. ‘RR4’ rated securities have
characteristics
consistent with securities historically recovering 31%–50% of current
principal
and related interest. |
RR5 |
BELOW
AVERAGE RECOVERY PROSPECTS GIVEN DEFAULT. ‘RR5’ rated
securities
have characteristics consistent with securities historically recovering
11%–
30%
of current principal and related interest. |
RR6 |
POOR
RECOVERY PROSPECTS GIVEN DEFAULT. ‘RR6’ rated securities have
characteristics
consistent with securities historically recovering 0%–10% of current
principal
and related interest. |
Aaa |
Insurance
companies rated Aaa are judged to be of the highest quality, subject to
the
lowest
level of credit risk. |
Aa |
Insurance
companies rated Aa are judged to be of high quality and are subject to
very
low
credit risk. |
A |
Insurance
companies rated A are judged to be upper-medium grade and are subject to
low
credit risk. |
Baa |
Insurance
companies rated Baa are judged to be medium-grade and subject to moderate
credit
risk and as such may possess certain speculative
characteristics. |
Ba |
Insurance
companies rated Ba are judged to be speculative and are subject to
substantial
credit
risk. |
B |
Insurance
companies rated B are considered speculative and are subject to high
credit
risk. |
Caa |
Insurance
companies rated Caa are judged to be speculative of poor standing and are
subject
to very high credit risk. |
Ca |
Insurance
companies rated Ca are highly speculative and are likely in, or very near,
default,
with some prospect of recovery of principal and
interest. |
C |
Insurance
companies rated C are the lowest rated and are typically in default, with
little
prospect
for recovery of principal or
interest. |
P-1 |
Ratings
of Prime-1 reflect a superior ability to repay short-term debt
obligations. |
P-2 |
Ratings
of Prime-2 reflect a strong ability to repay short-term debt
obligations. |
P-3 |
Ratings
of Prime-3 reflect an acceptable ability to repay short-term
obligations. |
P-4 |
Issuers
(or supporting institutions) rated Not Prime do not fall within any of the
Prime
rating
categories. |
SP-1 |
Strong
capacity to pay principal and interest. An issue determined to possess a
very
strong
capacity to pay debt service is given a plus (+)
designation. |
SP-2 |
Satisfactory
capacity to pay principal and interest, with some vulnerability to adverse
financial
and economic changes over the term of the notes. |
SP-3 |
Speculative
capacity to pay principal and
interest. |
D |
‘D’
is assigned upon failure to pay the note when due, completion of a
distressed debt
restructuring,
or the filing of a bankruptcy petition or the taking of similar action and
where
default on an obligation is a virtual certainty, for example, due to
automatic stay
provisions. |
MIG
1 |
This
designation denotes superior credit quality. Excellent protection is
afforded by
established
cash flows, highly reliable liquidity support or demonstrated broad-based
access
to the market for refinancing. |
MIG
2 |
This
designation denotes strong credit quality. Margins of protection are
ample,
although
not as large as in the preceding group. |
MIG
3 |
This
designation denotes acceptable credit quality. Liquidity and cash-flow
protection
may
be narrow, and market access for refinancing is likely to be less
well-established. |
SG |
This
designation denotes speculative-grade credit quality. Debt instruments in
this
category
may lack sufficient margins of
protection. |
VMIG
1 |
This
designation denotes superior credit quality. Excellent protection is
afforded by the
superior
short-term credit strength of the liquidity provider and structural and
legal
protections
that ensure the timely payment of purchase price upon
demand. |
VMIG
2 |
This
designation denotes strong credit quality. Good protection is afforded by
the strong
short-term
credit strength of the liquidity provider and structural and legal
protections
that
ensure the timely payment of purchase price upon
demand. |
VMIG
3 |
This
designation denotes acceptable credit quality. Adequate protection is
afforded by
the
satisfactory short-term credit strength of the liquidity provider and
structural and
legal
protections that ensure the timely payment of purchase price upon
demand. |
SG |
This
designation denotes speculative-grade credit quality. Demand features
rated in this
category
may be supported by a liquidity provider that does not have a sufficiently
strong
short-term rating or may lack the structural or legal protections
necessary to
ensure
the timely payment of purchase price upon
demand. |
Pfd-1 |
Preferred
shares rated Pfd-1 are generally of superior credit quality, and are
supported
by
entities with strong earnings and balance sheet characteristics. Pfd-1
ratings
generally
correspond with issuers with a AAA or AA category reference
point1. |
Pfd-2 |
Preferred
shares rated Pfd-2 are generally of good credit quality. Protection of
dividends
and
principal is still substantial, but earnings, the balance sheet and
coverage ratios are
not
as strong as Pfd-1 rated companies. Generally, Pfd-2 ratings correspond
with issuers
with
an A category or higher reference point. |
Pfd-3 |
Preferred
shares rated Pfd-3 are generally of adequate credit quality. While
protection of
dividends
and principal is still considered acceptable, the issuing entity is more
susceptible
to adverse changes in financial and economic conditions, and there may be
other
adverse conditions present which detract from debt protection. Pfd-3
ratings
generally
correspond with issuers with a BBB category or higher reference
point. |
Pfd-4 |
Preferred
shares rated Pfd-4 are generally speculative, where the degree of
protection
afforded
to dividends and principal is uncertain, particularly during periods of
economic
adversity.
Issuers with preferred shares rated Pfd-4 generally correspond with
issuers
with
a BB category or higher reference point. |
Pfd-5 |
Preferred
shares rated Pfd-5 are generally highly speculative and the ability of the
entity
to
maintain timely dividend and principal payments in the future is highly
uncertain.
Entities
with a Pfd-5 rating generally correspond with issuers with a B category or
higher
reference point. Preferred shares rated Pfd-5 often have characteristics
that, if not
remedied,
may lead to default. |
D |
When
the issuer has filed under any applicable bankruptcy, insolvency or
winding up or
the
issuer is in default per the legal documents, a downgrade to D may occur.
Because
preferred
share dividends are only payable when approved, the non-payment of a
preferred
share dividend does not necessarily result in a D. DBRS Morningstar may
also
use
SD (Selective Default) in cases where only some securities are impacted,
such as the
case
of a “distressed exchange”. See the Default Definition document posted on
the
website
for more information. |