JPMorgan U.S. GARP Equity Fund

Under typical market conditions, this fund allocates at least 80% of its total assets—defined as net assets combined with any borrowed capital used for investment—to equity securities of large and mid-capitalization U.S.-based companies. The fund primarily constructs a broad portfolio of stocks that the investment adviser believes exhibit a desirable blend of characteristics, including appealing valuations, robust quality, and/or strong positive momentum, all aimed at achieving superior relative performance.