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JPMorgan Funds - Global Government Bond Fund
Share class: C (acc) EUR ISIN: LU0406674407 For other available share classes, please check the prospectus.
MARKETING COMMUNICATION FUND STORY | 2026
FOR PROFESSIONAL CLIENTS/QUALIFIED INVESTORS ONLY – NOT FOR RETAIL USE OR DISTRIBUTION
Access active alpha in government bond markets Gain exposure exclusively to government and government-related bonds via an actively managed, research-driven approach that aims to deliver consistent, long-term alpha, transparent government bond positioning, and robust diversification.
Expertise • Managed by one of the largest active government bond managers, with a well-resourced platform of over 300 investors, and more than $57 billion under management in dedicated government bond portfolios.
Consistency is the hallmark of our investment approach 3-year ro lling annualised returns: fund versus benchmark
-8% -6% -4% -2% 0% 2% 4% 6% 8%
Global Government Bond Fund (%)
Benchmark returns (%)
0%
8% 6% 4% 2%
-2% -4% -6% -8%
Past performance is not a reliable indicator of current and future results. Source: J.P. Morgan Asset Management. Returns shown are gross of fees. This means that the actual performance will be less than that shown as gross performance does not reflect the effect on performance of fees and charges associated with investment in this fund. Data in EUR. Inception Date: 20 February 2009. Benchmark: JPMorgan GBI Bond Index hedged EUR. Excess returns are calculated geometrically. Gross fund returns are calculated from net returns by applying the fund total expense ratio (TER) which includes operating & administrative expenses (O&A). The O&A fees are accrued at the maximum rate, according to what is stated in the fund prospectus. Where the O&A fees incurred are actually lower than the accrual, this would lead to a minor overstatement of gross returns. Net returns are not impacted.
Portfolio • Combines rigorous top-down macro insights with bottom-up analysis, providing pure play sovereign bond exposure with no corporate credit or currency risk to deliver government bond beta along with the opportunity to outperform traditional benchmarks. • Diversification is a core element, with risk spread across a large number of alpha drivers, and multiple active expressions in the portfolio at any given time, rather than relying on concentrated bets.
Results • Aims for consistent alpha in the range of 50-70 basis points,* with a high information ratio (since inception information ratio of 0.66). • Diversification of risk enables outperformance without a market bias, with the fund outperforming in both rising and falling markets since inception. Diversification does not guarantee positive returns and does not eliminate the risk of loss.
Dynamic and diversified government bond portfolios Our investment process is anchored in a rigorous research-driven approach, combining fundamental, quantitative, and technical analysis to identify and evaluate opportunities across global government bond markets. Portfolio construction is guided by quarterly strategy sessions and ongoing intra-day dialogue, ensuring responsiveness to market changes and alignment with client objectives. Diversification is a central differentiator, with a wide range of return drivers targeted—including duration, yield curve, cross-market, inflation, and sector rather than relying on any single strategy. This diversified approach, supported by robust risk management and a scalable process, underpins the consistency and stability of performance, and helps us to target strong risk-adjusted returns, high information ratios and balanced, resilient performance.
Annualised risk/return attribution (gross of fees, basis points)
0
2
4
6
8
10
12
14
16
18
Duration Curve Cross Market/ Inflation Eurozone Spread Return Tracking error
Past performance is not a reliable indicator of current and future results. Diversification does not guarantee positive returns and does not eliminate the risk of loss. *These targets are gross of fees and subject to change. There is no guarantee that these targets will be met. Source: J.P. Morgan Asset Management. As at 31 March 2026. Returns shown are gross of fees. This means that the actual performance will be less than that shown as gross performance does not reflect the effect on performance of fees and charges associated with investment in this fund. Data in EUR. Inception Date: 20 February 2009. Benchmark: JPMorgan GBI Bond Index hedged EUR. Excess returns are calculated geometrically. Please note that any discrepancies are due to rounding. Numbers are not audited and for illustration purposes only.
Page 2
Fund Story | 2026 | JPMorgan Funds - Global Government Bond Fund Page 2 of 3
FOR PROFESSIONAL CLIENTS/QUALIFIED INVESTORS ONLY - NOT FOR RETAIL USE OR DISTRIBUTION
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 on the right 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.
Summary Risk Indicator
1 2 3 4 5 6 7
Lower Risk Higher Risk
The risk indicator assumes you keep the product for 5 years. The risk of the product may be significantly higher if held for less than the recommended holding period. In the UK, please refer to the synthetic risk and reward indicator in the latest available key investor information document.
Investment risks Risks from the Fund’s techniques and securities Techniques Hedging Securities Debt securities – Government debt – Investment grade debt ▼ Other associated risks Further risks the Sub-Fund is exposed to from its use of the techniques and securities above Credit Interest rate 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 Fund will fluctuate in value.
Failure to meet the Fund’s objective
Benchmark uses and resemblance • Performance comparison • Basis for relative VaR calculations. The Sub-Fund is actively managed. The majority of issuers in the SubFund are likely to be represented in the benchmark because the Investment Manager uses it as a basis for portfolio construction, but has some discretion to deviate from its composition and risk characteristics within indicative risk parameters. The Sub-Fund will resemble the composition and risk characteristics of its benchmark; however, the Investment Manager’s discretion may result in performance that differs from the benchmark.
Investment objective To achieve a return in line with the benchmark by investing primarily in global government debt securities.
Portfolio management team Iain Stealey Portfolio Manager • 24 years of industry experience, all at J.P. Morgan
Seanys Mac Gorain Portfolio Manager • 25 years of industry experience, 16 years at J.P. Morgan
Nicholas Wall Portfolio Manager • 20 years of industry experience, 6 years at J.P. Morgan Source: J.P. Morgan Asset Management, as at 31.03.2026.
Interactive factsheet and performance data
Scan or click on the QR code to view the latest performance data.
Calendar year performance (%)
2021 2022 2023 2024 2025 Global Government Bond Fund -3.23 -13.91 3.46 0.08 2.07 J.P. Morgan Government Bond Index Global (Total Return Gross) Hedged to EUR -3.09 -13.98 3.52 -0.16 1.72
Excess return -0.15 0.08 -0.05 0.24 0.35 Past performance is not a guide to current and future performance. Source: J.P. Morgan Asset Management. Share class performance is shown based on the NAV (net asset value) of the share class with income (gross) reinvested including actual ongoing charges excluding any entry and exit fees. The return of your investment may change as a result of currency fluctuations if your investment is made in a currency other than that used in the past performance calculation.
Page 3
Fund Story | 2026 | JPMorgan Funds - Global Government Bond Fund Page 3 of 3
For Professional Clients / Qualified Investors only – not for Retail use or distribution. 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 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, there can be no assurance that the investment objectives of the investment products 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 HYPERLINK “ http://www.jpmorgan.com/emea-privacy-policy”www.jpmorgan.com/emea-privacy-policy . As the product may not be authorised or its offering may be restricted in your jurisdiction, it is the responsibility of every reader to satisfy himself as to the full observance of the laws and regulations of the relevant jurisdiction. 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. Shares or other interests may not be offered to, or purchased, directly or indirectly by US persons. All transactions should be based on the latest available Prospectus, the Key Information Document (KID) and any applicable local offering document. These documents together with the annual report, semi-annual report, the articles of incorporation and sustainability-related disclosures for the Luxembourg domiciled products are available in English upon request from JPMorgan Asset Management (Europe) S.à r.l., 6 route de Trèves, L-2633 Senningerberg, Grand Duchy of Luxembourg, your financial adviser, your J.P. Morgan Asset Management regional contact or at https://am.jpmorgan.com. A summary of investor rights is available in English at https://am.jpmorgan.com/lu/investor-rights . J.P. Morgan Asset Management may decide to terminate the arrangements made for the marketing of its collective investment undertakings. In Switzerland, JPMorgan Asset Management Switzerland LLC (JPMAMS), Dreikönigstrasse 37, 8002 Zurich, acts as Swiss representative of the funds and J.P. Morgan (Suisse) SA, Rue du Rhône 35, 1204 Geneva, as paying agent. With respect to its distribution activities in and from Switzerland, JPMAMS receives remuneration which is paid out of the management fee as defined in the respective fund documentation. Further information regarding this remuneration, including its calculation method, may be obtained upon written request from JPMAMS. This communication is issued in Europe (excluding UK) by JPMorgan Asset Management (Europe) S.à r.l., 6 route de Trèves, L-2633 Senningerberg, Grand Duchy of Luxembourg, R.C.S. Luxembourg B27900, corporate capital EUR 10.000.000. This communication is issued in the UK by JPMorgan Asset Management (UK) Limited, which is authorised and regulated by the Financial Conduct Authority. Registered in England No. 01161446. Registered address: 25 Bank Street, Canary Wharf, London E14 5JP. For UK only: Sustainability-related terms in this communication follow J.P Morgan Asset Management’s methodologies and application of the EU Sustainable Finance Disclosure Regulation, not the UK Sustainability Disclosure Requirements and investment labels regime. The product is authorised overseas, but not in the UK. The UK Financial Ombudsman Service is unlikely to be able to consider any related complaints and any claims for losses are unlikely to be covered under the UK compensation scheme. LV–JPM57868 | 04/26 | f233fd04-451c-11f1-8747-63affe84c094
FOR PROFESSIONAL CLIENTS/QUALIFIED INVESTORS ONLY - NOT FOR RETAIL USE OR DISTRIBUTION
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"text": "Lower Risk"
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"text": "Higher Risk"
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"id": "7a98b81c-7edb-4155-a7b4-cf4f4884a45c",
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"text": "The risk indicator assumes you keep the product for 5 years. The risk of the"
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"text": "product may be significantly higher if held for less than the recommended"
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"text": "holding period. In the UK, please refer to the synthetic risk and reward"
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"text": "indicator in the latest available key investor information document."
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"text": "Risks from the Fund\u2019s techniques and securities"
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"text": "Further risks the Sub-Fund is exposed to from its use"
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