Incepted in September 2001, the fund is managed by J.P. Morgan Investment Management, Inc. The fund's goal is to provide high total return from a portfolio of fixed income securities of emerging markets issuers. Under normal circumstances, the fund invests at least 80% of its assets in emerging market debt investments. The fund invests primarily in debt securities that it believes have the potential to provide a high total return from countries whose economies or bond markets are less developed. This designation currently includes most countries in the world except Australia, Canada, Hong Kong, Japan, New Zealand, the U.S., the United Kingdom, and most western European countries. The fund adviser makes country allocation decisions, based primarily on financial and economic forecasts and other macro-economic factors. The fund declares dividends daily and pays them monthly. The fund makes net capital gains distributions, if any, once a year.