Fund Description

Incepted in January 1997, the fund is managed by J.P. Morgan Investment Management Inc. The fund seeks to provide a consistently high total return from a broadly diversified portfolio of equity securities with risk characteristics similar to the S&P 500. Under normal market conditions, the fund invests at least 80% of its assets in equity investments. The fund primarily invests in large and mid-capitalization U.S. companies. By owning a large number of equity securities within the S&P 500, with an emphasis on those that appear undervalued or fairly valued, the fund seeks returns that modestly exceed those of the S&P 500 over the long term with virtually the same level of volatility. The fund distributes dividends and capital gains, if any, quarterly.