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JPM Europe Dynamic (ex-UK) Fund
C (acc) – GBP GB00B845HL62 For other available share classes, please check the prospectus.
Investing dynamically in Europe’s leading companies The Europe Dynamic (ex-UK) Fund capitalises on high-conviction investment opportunities across Europe excluding the UK, by identifying attractively valued, high quality businesses with improving outlooks. The fund aims for long-term capital growth through a disciplined approach that draws on insights from a tenured and extensive fundamental research team and cutting edge proprietary quantitative tools. Expertise • Deeply resourced, stable and experienced team: Highly experienced portfolio managers, averaging 19 years of industry experience, supported by research analysts and quantitative researchers. A data and technology advantage brings all our insights together with leading technology in our proprietary investment platform, Spectrum.
Proven all weather performance Outperformed the index in 10 out of the last 13 calendar years
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Excess return (%)
9.96
-3.98
-0.81 -1.98
2.06 3.22 1.03 0.60 0.07
4.98 2.51 1.38
5.08 Portfolio • An unconstrained, best ideas European equity strategy which can invest across the market cap spectrum, combining bottom-up stock selection within a risk-controlled framework to identify opportunities through the lens of value, quality, and momentum. Results • A tried and tested investment process with a 30 year track record aimed at delivering consistent risk adjusted returns. The Fund has a 5* Morningstar rating and has performed well across different market environments outperforming the index in 10 out of the last 13 calendar years. Source: J.P. Morgan Asset Management, Morningstar. All data as at 31 March 2026. Calendar year excess fund performance is shown based on the NAV of share class C - Net Accumulation in GBP and assumes any income distribution (gross of tax of shareholders) was reinvested in additional shares on ex-dividend date. Benchmark index is FTSE All-World Developed Europe ex UK Index (Net). All calculations are net of any applicable charges and taxes incurred by the Fund, but gross of any entry/exit fees or taxes charged to the shareholders. Excess return calculated geometrically. Past performance is not a reliable indicator of current and future results .
Capture Europe’s growth with dynamic allocation The fund employs a disciplined investment approach, integrating both quantitative and fundamental insights to drive high-conviction stock picks that capture Europe’s most attractive opportunities. By focusing on quality businesses that are attractively valued and have improving outlooks, this highly selective, best ideas approach means the fund can dynamically shift its portfolio allocations to ensure it always has exposure to the companies that stand to benefit most from Europe’s economic trends, while avoiding those that may be left behind.
Access the global ideas of an award-winning team The International Equity Group boasts a team of over 60 portfolio managers, each with an average of 20 years of industry experience, who interrogate both fundamental and data-driven insights to manage risk effectively. Complementing this, our in-house team of 70+ fundamental research analysts, with 20 years of experience on average, employ a consistent valuation framework to analyse regional markets through a global lens, supported by an annual research budget exceeding $150 million. Additionally, our team of quantitative research analysts has been dedicated to building and refining alpha signals and risk management tools since 1999, leveraging big data initiatives and cutting-edge data science to drive superior investment outcomes.
Ratings and awards
Morningstar Medalist Rating™ SILVER Analyst-Driven % 100 Data Coverage 100 Overall Morningstar Rating™ «««« « FE Crown Fund Rayner Spencer Mills rated fund Square Mile Research rating A The Adviser Centre Recommended Fund
MARKETING COMMUNICATION FUND STORY | 2026
FOR PROFESSIONAL CLIENTS ONLY - NOT FOR RETAIL USE OR DISTRIBUTION
Portfolio Manager Insights
Fundamental Equity Research
Data Driven Insights
Highest Conviction
Source: J.P. Morgan Asset Management, Team data and experience as at 31 December 2025. © 2026 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Rating updated as of 31 March 2026. Morningstar Rating is for the C net (Acc) GBP share class. Morningstar Awards 2026 awarded to J.P. Morgan Asset Management for JPM Europe Dynamic (ex-UK) Fund C net (Acc) GBP, within Best Europe ex-UK Equity Fund category, UK. Past performance is not a reliable indicator of current and future results.
Best Europe ex-UK Equity Fund
Page 2
Key risks The Sub-Fund is subject to Investment risks and Other associated risks from the techniques and securities it uses to seek to achieve its objective. The table below explains how these risks relate to each other and the Outcomes to the Shareholder that could affect an investment in the Sub-Fund. Investors should also read Risk Descriptions in the Prospectus for a full description of each risk.
Risk and Reward Profile Lower risk Higher Risk
Potentially lower reward Not risk free
Potentially higher reward
1 2 3 4 5 6 7
Synthetic risk and reward indicator based on share class volatility for the past 5 years. See Key Investor Information Document (KIID) for details.
Investment risks Risks from the Sub-Fund’s techniques and securities Techniques Concentration Hedging
Securities Equities Smaller companies
Other associated risks Further risks the Sub-Fund is exposed to from its use of the techniques and securities above Currency Market Liquidity Outcomes to the Shareholder Potential impact of the risks above Loss Shareholders could lose some or all of their money.
Volatility Shares of the Sub-Fund will fluctuate in value.
Failure to meet the Sub-Fund’s objective
Investment objective To maximise capital growth over the long-term (5–10 years) by investing at least 80% of the Fund’s assets in European equities (excluding the UK).
Fund Story | 2026 | JPM Europe Dynamic (ex-UK) Fund Page 2 of 2
Portfolio management team Jonathan Ingram Portfolio Manager • 26 years of industry experience, all at J.P. Morgan
Blake Crawford Portfolio Manager • 18 years of industry experience, all at J.P. Morgan
Alex Whye Portfolio Manager • 13 years of industry experience, all at J.P. Morgan Source: J.P. Morgan Asset Management, as at 31 December 2025.
This is a marketing communication and as such the views contained herein do not form part of an offer, nor are they to be taken as advice or a recommendation, to buy or sell any investment or interest thereto. Reliance upon information in this material is at the sole discretion of the reader. Any research in this document has been obtained and may have been acted upon by J.P. Morgan Asset Management for its own purpose. The results of such research are being made available as additional information and do not necessarily reflect the views of J.P. Morgan Asset Management. Any forecasts, figures, opinions, statements of financial market trends or investment techniques and strategies expressed are, unless otherwise stated, J.P. Morgan Asset Management’s own at the date of this document. They are considered to be reliable at the time of writing, may not necessarily be all inclusive and may be subject to change without reference or notification to you. The value of investments and the income from them may fluctuate in accordance with market conditions and taxation agreements and investors may not get back the full amount invested. Changes in exchange rates may have an adverse effect on the value, price or income of the products or underlying overseas investments. Past performance and yield are not a reliable indicator of current and future results. There is no guarantee that any forecast made will come to pass. Furthermore, whilst it is the intention to achieve the investment objective of the investment products, there can be no assurance that those objectives will be met. J.P. Morgan Asset Management is the brand name for the asset management business of JPMorgan Chase & Co. and its affiliates worldwide. To the extent permitted by applicable law, we may record telephone calls and monitor electronic communications to comply with our legal and regulatory obligations and internal policies. Personal data will be collected, stored and processed by J.P. Morgan Asset Management in accordance with our EMEA Privacy Policy www.jpmorgan.com/emea-privacy-policy . Prior to any application investors are advised to take all necessary legal, regulatory and tax advice on the consequences of an investment in the products. Investment is subject to documentation, which is comprised of the Prospectus, Key Investor Information Document (KIID) and either the Supplementary Information Document (SID) or Key Features/Terms and Conditions. These documents, together with the annual report, semi-annual report and instrument of incorporation are available in English from JPMorgan Asset Management (UK) Limited or at https://am.jpmorgan.com. This communication is issued by JPMorgan Asset Management (UK) Limited, which is authorised and regulated in the UK by the Financial Conduct Authority. Registered in England No: 01161446. Registered address: 25 Bank Street, Canary Wharf, London E14 5JP. LV–JPM58217 | 06/26 | f8032c2d-4128-11f0-bd8d-b9a94bddad81
FOR PROFESSIONAL CLIENTS ONLY - NOT FOR RETAIL USE OR DISTRIBUTION
Calendar year performance (%)
2020 2021 2022 2023 2024 2025
JPM Europe Dynamic (ex UK) Fund C – Net Acc. 8.19 22.56 -5.90 12.64 3.40 33.34
FTSE AWD Europe ex UK Index (Net) 8.12 16.75 -8.20 14.91 1.99 26.90
Excess return 0.07 4.98 2.51 -1.98 1.38 5.08
Source: J.P. Morgan Asset Management. As at 30 April 2026. Fund inception date is 30 September 2004. Excess return calculated geometrically. Fund performance is shown based on the NAV of share class C - Net Accumulation in GBP and assumes any income distribution (gross of tax of shareholders) was reinvested in additional shares on ex-dividend date. All calculations are net of any applicable charges and taxes incurred by the Fund, but gross of any entry/exit fees or taxes charged to the shareholders. Past performance is not a reliable indicator of current and future results.
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"id": "0c645df5-c88d-489f-9488-8c0a3a58d986",
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"text": "Synthetic risk and reward indicator based on share class volatility for the"
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"text": "past 5 years. See Key Investor Information Document (KIID) for details."
},
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"text": "Investment risks Risks"
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"id": "2d96fe5b-eceb-4606-8c2d-1fd450f3d031",
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"text": "from the Sub-Fund\u2019s techniques and securities"
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"text": "Techniques"
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"text": "Equities"
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"text": "Other associated risks"
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"text": "Further risks the Sub-Fund is exposed to from its use"
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"text": "of the techniques and securities above"
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"text": "Currency"
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"text": "Outcomes to the Shareholder"
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"text": "Potential impact of the risks above"
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"text": "could lose some or all"
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"text": "of their money."
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"text": "Sub-Fund\u2019s objective"
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"text": "Investment objective"
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"text": "To maximise capital growth over the long-term"
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"text": "(5\u201310 years) by investing at least 80% of the"
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"text": "Fund\u2019s assets in European equities (excluding"
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"text": "the UK)."
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"text": "Fund Story | 2026 |"
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"text": "JPM Europe Dynamic (ex-UK) Fund"
},
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"text": "Page 2 of 2"
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"text": "Portfolio management team"
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"text": "Jonathan Ingram"
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"text": "\u2022"
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"id": "8d185e0f-ae59-480c-a33d-37b52679ba92",
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"text": "26 years of industry"
},
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"id": "c22e5887-bac9-4d7d-aa75-f90651ca93f2",
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"text": "experience, all at J.P.\u00a0Morgan"
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"text": "Blake Crawford"
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"text": "Portfolio Manager"
},
{
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"text": "\u2022"
},
{
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"text": "18 years of industry"
},
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"text": "experience, all at J.P. Morgan"
},
{
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"text": "Alex Whye"
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"text": "Portfolio Manager"
},
{
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"text": "\u2022"
},
{
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},
"id": "975418e7-3086-4354-9383-76bc7c6a6b11",
"page_number": 2,
"text": "13 years of industry"
},
{
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"page_number": 2,
"text": "experience, all at J.P. Morgan"
},
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"id": "7bf65d0a-b1aa-4578-8eef-c67b49d2ccf2",
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"text": "Source: J.P. Morgan Asset Management, as at 31 December 2025."
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"text": "This is a marketing communication and as such the views contained herein do not form part of an offer, nor are they to be taken as advice or a recommendation,"
},
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"text": "to buy or sell any investment or interest thereto. Reliance upon information in this material is at the sole discretion of the reader. Any research in this document"
},
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