Eyes on the Future with an Innovative Asset Allocation Strategy

AVAILABLE FOR PUBLIC CIRCULATION

Important Information1. The Fund invests primarily (i.e. at least 70% of its total net asset value) in debt and equity securities (directly or indirectly through collective investment schemes)

whose issuers may benefit from, or contribute to, the transition towards the future world. The Fund will have limited Renminbi (RMB) denominated underlying investments.

2. The Fund is therefore exposed to a range of investment related risks which includes risks associated with the Fund’s investment strategy (including risks associated with future transition concept, its sub-themes and changing market trends, risks associated with concentration in a single theme and/or sub-theme and risks associated with the use of big data and artificial intelligence technique), dynamic asset allocation strategy, debt securities (including downgrading risk, below investment grade/ unrated investment risk, credit risk, interest rate risk, valuation risk, volatility and liquidity risk), equity, emerging markets, investing in other collective investment schemes, concentration, currency, derivatives, liquidity, hedging, class currency and currency hedged classes. In addition, RMB hedged classes expose to risks associated with the RMB currency and currency hedged classes risks. RMB is currently not freely convertible and RMB convertibility from o�shore RMB (CNH) to onshore RMB (CNY) is a managed currency process subject to foreign exchange control policies of and restrictions imposed by the Chinese government. There can be no assurance that RMB will not be subject to devaluation at some point. The Manager may, under extreme market conditions when there is not su�cient RMB for currency conversion and with the approval of the Trustee, pay redemption monies and/or distributions in USD.

3. Where the income generated by the Fund is insu�cient to pay a distribution as the Fund declares, the Manager may at its discretion determine such distributions may be paid from capital including realised and unrealised capital gains. Investors should note that the payment of distributions out of capital represents a return or withdrawal of part of the amount they originally invested or from any capital gains attributable to that original investment. Any payments of distributions by the Fund may result in an immediate decrease in the net asset value per unit. Also, a positive distribution yield does not imply a positive return on the total investment. The distribution amount and net asset value per unit of a currency hedged class may be adversely a�ected by di�erences in the interest rates of the reference currency of the relevant currency hedged class and the Fund’s base currency, resulting in an increase in the amount of distribution that is paid out of capital and hence a greater erosion of capital than other classes of units.

4. Investors may be subject to substantial losses.5. Investors should not solely rely on this document to make any investment decision.

JPMorgan Future Transition Multi-Asset Fund

Dynamic asset allocation: Invests flexibly across asset classes and regions, capturing growth potential while managing risks

Innovative approach: Leverages proprietary technology that combines big data research and artificial intelligence to identify investment ideas Helping shape a better future: Strives to drive and help societies transition to a more e�cient, sustainable and inclusive world

NEW

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JPMorgan Future Transition Multi-Asset Fund 2

Source: United Nations, Department of Economic and Social A�airs “68% of the world population projected to live in urban areas by 2050, says UN” (16.05.2018).

Five key themes shaping our future�

The future transitionHave you ever wondered that the future can be faster than you think? Advances in technologies, such as artificial intelligence (AI), robotics and the Internet of Things (IoT), are paving the way for transformative changes to every aspect of our lives. Everything around us will become more intelligent, communicative and connected.

At J.P. Morgan Asset Management, the “future transition” concept aims to drive and help the societies transition to a better future, making our world more e�cient, sustainable and inclusive.

Smart city: improving urban life

2.5 billion people

Over the next three decades, the global urban population is expected to see an increase of 2.5 billion people, creating a strain on resources. A potential solution to support the growing number of megacities, “smart city” refers to initiatives that use digital and communication technology-based innovation to (i) improve operational e�ciency; (ii) enhance the quality of government services and citizen welfare; and (iii) promote overall economic growth.

Expected increase in global urban population by 2050

Source: BCC Research LLC “Global Smart Cities Market for IT Will Reach $774.8 Billion in 2021” (13.07.2017).

USD 244.5 billion2021’s expected investments in smart city technology inNorth America, increased from USD 118.5 billion in 2016

Our investment team determines the key themes based on long-term market trends, and adjusts in response to the ongoing development of the future world.

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Source: IBL News “U.S. Education Technology Companies Raised $1.6 Billion in VC Funding in 2019” (17.01.2019).

Digital education: personalised and adaptive learning

USD 1.6 billion

Digital education is increasingly becoming intertwined with everyday life, especially when the pandemic has prompted the world to rapidly transition to technology-based learning methods. By providing a truly personalised learning experience tailored to an individual’s educational needs, approach and pace, digital education supports not only the young but all learners, allowing organisations to upskill and reskill employees as businesses evolve.

of investments in the US education technology sector in 2019

CAGR = compound annual growth rate. Source: Global Market Insights “E-Learning Market Trends 2021, Global Forecast Report 2027” (May 2021).

USD 250+ billion2020’s e-learning market size; anticipated to grow at an exponential CAGR of over 21% between 2021 and 2027

Social and environmental development: building a sustainable future

J.P. Morgan Asset Management: ESG integration

Social and environmental factors are expected to increasingly a�ect the ability of companies to operate and generate returns today and over the long term. Consequently, our investments also demand a forward-looking approach to capture opportunities arising from the prospect of long-term sustainable financial returns.

ESG = environmental, social and governance.

450 integrated strategiesacross equities, fixed income, alternatives and liquidity

USD 2.3 trillionin ESG integrated assets under management

In-person

USD 125Telehealth

USD 40

Medical technology: improving patient careIn the face of aging population, exponential increase in expenditure and the need for greater e�ciency, the demand for more innovative and cost-e�ective solutions cannot be clearer. The medical technology (MedTech) market provides advanced solutions to enhance the quality of care for patients, as well as the e�ciency and sustainability of healthcare systems, o�ering early-stage investment opportunities.

Source: Bain & Company analysis, EvaluateMedTech, Health Research International, Decision Resources Group, S&P Capital IQ, Instrument Business Outlook, Du� & Phelps, company reports; “US Medtech Profit Pool to Reach $72 Billion by 2024” (11.03.2020).

Source: Citi data, UBS “HealthTech o�ers longer term investment opportunities” (March 2019).

38% Expected growth over five years for the US MedTech profit pool

Average consultation costs in the US

Autonomous vehicles: enhancing e�ciency and safety

Driverless cars are looking more likely to become a reality. With the rise of autonomous vehicles, it is anticipated that roads will be safer and less congested – thanks to the smart technologies that allow for (i) detection of hazards and therefore reduction in collisions caused by human error; and (ii) communication with each other and local infrastructure to operate more seamlessly.

of respondents

Source: Society of Automotive Engineers, McKinsey “Private autonomous vehicles: The other side of the robo-taxi story” (01.12.2020).

~60%in each region would switch automotive brands to get a vehicle with better autonomous driving features

Source: Boston Consulting Group website “Autonomous Vehicle Adoption Study” as of 21.07.2021.

12+ million fully autonomous vehiclesexpected to be sold per year globally by 2035

JPMorgan Future Transition Multi-Asset Fund 4

Policy support from governmentsThe transition towards a better future is a collaborative, multi-stakeholder process across governments, businesses and individuals.

Examples are:

Source: Innovation and Technology Bureau “Hong Kong Smart City Blueprint” (December 2017) and “Hong Kong Smart City Blueprint 2.0” (December 2020).

Smart city

Hong Kong

• Smart City Blueprint for Hong Kong set out six smart areas in 2017.

• Smart City Blueprint 2.0 was released in December 2020 with more than 130 smart city initiatives.

Source: World Economic Forum “Autonomous Vehicle Policy Framework: Selected National and Jurisdictional Policy E�orts to Guide Safe AV Development” (November 2020).

Autonomous vehicles

Singapore

• Rules for prospective trials and use of autonomous vehicles were introduced in 2017.

• Land Transport Master Plan 2040 emphasises public transport as well as shuttles and dynamic routes, including robo-taxis.

Source: Ministry of Human Resource Development “Digital Initiatives in Higher Education” (2019).

Digital education

India

• SWAYAM PRABHA: providing 32 high quality educational channels through DTH (Direct to Home) on 24x7 basis

• The National Digital Library of India project

Source: Business.gov.au website “Get investment to develop and commercialise your biomedical discoveries” (17.06.2021); Department of Health website “Medical Research Future Fund”, as of 21.07.2021.

Medical technology

Australia

Medical Research Future Fund: a USD 20 billion long-term investment, aiming to transform health and medical research and innovation to improve lives, and contribute to health system sustainability.

Source: European Central Bank “ECB presents action plan to include climate change considerations in its monetary policy strategy” (08.07.2021).

Social and environmental development

European Union

The European Central Bank decided on a comprehensive action plan in July 2021, looking to further incorporate climate change considerations into its policy framework.

EXAMPLE THEMETextual Relevance Revenue Attribution

Fundamentals

Globally diversified to capture growth potential while managing risksCapitalising on the future transition trends, the Fund seeks to provide medium- to long-term capital growth by primarily investing in both debt and equity securities whose issuers may benefit from, or contribute to, the transition towards the future world.

As uncertainties persist, it also remains important to maintain resiliency in a portfolio. The Fund is designed to take a flexible approach in asset allocation – taking advantage of growth potential from equities, while diversifying with fixed income to manage risks.

Innovative approach using proprietary AI technologyTo convert the future transition trends into opportunities, the Fund’s equity selection leverages ThemeBot, our proprietary technology that combines big data research and artificial intelligence, to identify securities with the most relevant exposure to the themes.

Images are for illustrative purposes only.

• Our investment team establishes the starting universe and themes

• ThemeBot identifies opportunities relevant to the theme with natural language processing, and ranks companies according to textual relevance and revenue attribution

• Our fundamental active research analysts regularly validate and refine ThemeBot’s output

The ability of ThemeBot to analyse hundreds of millions of data sources in a short period of time allows our portfolio managers to make informed decisions more e�ciently.

The percentage above refers to percentage of the non-cash asset of the Fund. The above allocation is the Investment Manager’s targets only and is subject to change depending on market conditions. There is no guarantee that these will be achieved.

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INITIAL PORTFOLIO TARGET ALLOCATIONASSET CLASS BREAKDOWN GEOGRAPHICAL BREAKDOWN (EQUITIES)

Equities 65%

Fixed Income35%

Multiple currency choices

To help meet investors’ need for di�erent currencies, the Fund o�ers USD, HKD and RMB Hedged classes, with a discretionary monthly distribution* feature available.

* Aim at monthly distribution. Dividend rate is not guaranteed. Distributions may be paid from capital. Refer to important information 3

Why invest in the JPMorgan Future Transition Multi-Asset Fund?

J.P. Morgan Asset Management’s Multi-Asset Solutions Team

Source: J.P. Morgan Asset Management, as of end-June 2021. Includes portfolio managers, research analysts, traders and investment specialists with VP title and above.

MULTI-ASSETINVESTMENT

PROFESSIONALS

WITH ACCESS TO

101 AVERAGE YEARS OF EXPERIENCE12+

INVESTMENT PROFESSIONALS

WORLDWIDE1,000+ LOCATIONS IN11 MARKETS22

0%

5%

10%

15%

20%

25%

30%

35%

Forecasts, projections and other forward looking statements are based upon current beliefs and expectations. They are for illustrative purposes only and serve as an indication of what may occur. Given the inherent uncertainties and risks associated with forecast, projections or other forward statements, actual events, results or performance may di�er materially from those reflected or contemplated. For illustrative purposes only based on current market conditions, subject to change from time to time. Not all investments are suitable for all investors. Exact allocation of portfolio depends on each individual's circumstances and market conditions. Diversification does not guarantee investment returns and does not eliminate the risk of loss. The manager seeks to integrate environmental, social and governance (“ESG”) factors in the investment process. ESG integration is the systematic integration of material ESG factors in company/issuer selection through research and risk management. It involves proprietary research on financial materiality of the ESG factors in relation to the relevant company/issuer and discretion to invest regardless of whether the company/issuer may be positively or negatively impacted by the ESG factors. Integration of ESG factors in the Fund’s investment process does not imply the Fund incorporates ESG factors as its key investment focus. The Fund is not authorized as an ESG fund by the Securities and Futures Commission, nor is it being marketed as an ESG fund.Unless stated otherwise, all information is sourced from J.P. Morgan Asset Management, as of end-July 2021.The information contained in this document does not constitute investment advice, or an o�er to sell, or a solicitation of an o�er to buy any security, investment product or service. Informational sources are considered reliable but you should conduct your own verification of information contained herein. The RMB Hedged Class is not recommended for investors whose base currency of investment is not in RMB.The “(cgdiv)” classes aim at monthly distribution. Dividend rate is not guaranteed. Distributions may be paid from capital.Refer to important information 3

Investment involves risk. Past performance is not indicative of future performance. Please refer to the o�ering document(s) for details, including the risk factors. This document has not been reviewed by the SFC. Issued by JPMorgan Funds (Asia) Limited.

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For further information on theJPMorgan Future Transition Multi-Asset Fund, please contact your bank or financial adviser.

www.jpmorgan.com/hk/am/ftma

AVAILABLE FOR PUBLIC CIRCULATION