Morningstar Fund Report  | 23/04/2025Print

JPMorgan Funds - China Fund I (acc) - USD

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
JPMorgan Funds - China Fund I (acc) - USD
Fund-18.8-15.8-27.111.88.4
+/-Cat-4.00.0-6.7-2.50.6
+/-B’mrk2.3-5.4-12.0-8.1-2.9
 
Category: China Equity
Category Benchmark: Morningstar China TME NR USD
Key Stats
NAV
22/04/2025		 USD 97.70
Day Change 0.75%
Morningstar Category™ China Equity
ISIN LU0248042839
Fund Size (Mil)
22/04/2025		 USD 3328.44
Share Class Size (Mil)
22/04/2025		 USD 947.69
Max Initial Charge -
Ongoing Charge
10/03/2025		  0.92%
Morningstar Research
Analyst Report07/03/2025
Claire Liang, Principal
Morningstar, Inc

JPM China benefits from a solid investment management team, a well-resourced and expanding supporting cast, and a proven investment process. With both the People and Process ratings reiterated at Above Average, the strategy’s Luxembourg-domiciled...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People24
Parent24
Process24
Performance
Price
Investment Objective: JPMorgan Funds - China Fund I (acc) - USD
To provide long-term capital growth by investing primarily in companies of the People's Republic of China (PRC).
Returns
Trailing Returns (GBP)22/04/2025
YTD-4.25
3 Years Annualised-4.92
5 Years Annualised-4.12
10 Years Annualised-
12 Month Yield 0.00
Management
Manager Name
Start Date
Rebecca Jiang
03/07/2017
Li Tan
01/05/2023
Inception Date
26/02/2007

Category Benchmark
Fund BenchmarkMorningstar Benchmark
MSCI China 10/40 NR USDMorningstar China TME NR USD
Portfolio Profile for  JPMorgan Funds - China Fund I (acc) - USD31/03/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock98.220.0098.22
Bond1.710.001.71
Property0.000.000.00
Cash36.7336.86-0.13
Other0.200.000.20
Top 5 Regions%
Asia - Emerging98.03
Japan1.07
Asia - Developed0.89
United States0.00
Canada0.00
Top 5 Sectors%
Consumer Cyclical32.15
Communication Services19.36
Financial Services14.49
Technology12.60
Industrials9.59
Top 5 HoldingsSector%
Tencent Holdings LtdCommunication ServicesCommunication Services9.86
Alibaba Group Holding Ltd Ordina... Consumer CyclicalConsumer Cyclical9.76
Xiaomi Corp Class BTechnologyTechnology6.41
Meituan Class BConsumer CyclicalConsumer Cyclical5.60
PDD Holdings Inc ADRConsumer CyclicalConsumer Cyclical5.08
Increase Decrease New since last portfolio
JPMorgan Funds - China Fund I (acc) - USD
Growth Of 1000 (GBP) 31/03/2025
Fund:  JPMorgan Funds - China Fund I (acc) - USD
Category:  China Equity
Category Index:  Morningstar China TME NR USD
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 2020202120222023202431/03
Price Return65.58-18.82-15.76-27.1011.788.40
+/- Category31.66-4.010.03-6.73-2.520.62
+/- Category Index-2.27-5.36-12.03-8.07-2.87
% Rank in Category96252906355
Trailing Returns (GBP)22/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day0.75   -0.19-0.29
1 Week-1.38   -0.61-0.58
1 Month-14.44   -2.81-2.22
3 Months-3.71   -0.94-4.69
6 Months-7.21   -3.48-6.40
YTD-4.25   -1.60-4.56
1 Year8.85   -0.50-9.24
3 Years Annualised-4.92   -2.08-7.57
5 Years Annualised-4.12   -0.72-1.99
10 Years Annualised-   --
 
Category: China Equity
Category Index: Morningstar China TME NR USD
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20258.40---
2024-3.483.9315.58-3.59
2023-1.99-15.86-1.15-10.58
2022-18.1713.61-14.856.41
2021-3.589.14-17.89-6.05
20200.0726.9810.5617.87
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAverageAbove Average2 star
5-YearAverageAbove Average2 star
10-Year--Not Rated
OverallAverageAbove Average2 star
 
Category :  China EquityClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev30.72 %
3-Yr Mean Return1.27 %
 
3-Yr Sharpe Ratio-0.09
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar China TME NR USD  Morningstar China TME NR USD
3-Yr Beta1.011.01
3-Yr Alpha-6.98-6.98
 
Investment Style Details31/03/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)USD 63718-
Market Capitalisation% of Equity
Giant74.67
Large22.71
Medium2.62
Small0.00
Micro0.00
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings13.891.12
Price/Book2.221.34
Price/Sales1.701.10
Price/Cash Flow11.391.11
Dividend-Yield Factor2.500.93
 
Long-Term Projected Earnings Growth7.811.27
Historical Earnings Growth8.222.64
Sales Growth2.621.33
Cash-Flow Growth20.135.13
Book-Value Growth7.141.53
 
Category: China Equity
Asset Allocation31/03/2025
Asset Allocation
 % Long% Short% Net Assets
Stock98.220.0098.22
Bond1.710.001.71
Property0.000.000.00
Cash36.7336.86-0.13
Other0.200.000.20
World Regions31/03/2025
 % of EquityRelative to Category
United States0.000.00
Canada0.000.00
Latin America0.000.00
United Kingdom0.000.00
Eurozone0.000.00
Europe - ex Euro0.000.00
Europe - Emerging0.00-
Africa0.000.00
Middle East0.00-
Japan1.0722.82
Australasia0.00-
Asia - Developed0.890.16
Asia - Emerging98.031.06
 
Category: China Equity
Sector Weightings31/03/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials1.440.54
Consumer CyclicalConsumer Cyclical32.151.08
Financial ServicesFinancial Services14.490.86
Real EstateReal Estate1.490.52
Consumer DefensiveConsumer Defensive3.840.68
HealthcareHealthcare2.250.48
UtilitiesUtilities2.791.83
Communication ServicesCommunication Services19.361.13
IndustrialsIndustrials9.591.30
TechnologyTechnology12.601.32
 
Category: China Equity
Top 10 Holdings31/03/2025
 Portfolio NEW
Total Number of Equity Holdings56
Total Number of Bond Holdings6
Assets in Top 10 Holdings52.29
NameSectorCountry% of Assets
Tencent Holdings Ltd308China9.86
Alibaba Group Holding Ltd Ordinary Sh... 102China9.76
Xiaomi Corp Class B311China6.41
Meituan Class B102China5.60
PDD Holdings Inc ADR102China5.08
NetEase Inc Ordinary Shares308China3.84
China Merchants Bank Co Ltd Class A103China3.71
Ping An Insurance (Group) Co. of Chin... 103China3.64
China Citic Bank Corp Ltd Class H103China2.28
Trip.com Group Ltd ADR102China2.11
 
Increase Decrease New since last portfolio
Category: China Equity
 
Management
Name of CompanyJPMorgan Asset Management (Europe) S.à r.l.
Phone+352 34 101
Websitehttp://www.jpmorganassetmanagement.com
AddressEuropean Bank & Business Centre 6, route de Trèves
 Luxembourg   L-2633
 Luxembourg
DomicileLuxembourg
Legal StructureSICAV
UCITSYes
Inception Date26/02/2007
Fund Advisor(s)
JPMorgan Asset Mgt Asia Pacific Limited
Fund ManagerRebecca Jiang
Manager Start Date03/07/2017
 
Biography
Rebecca Jiang, Managing Director, is a country specialist for Greater China equities and a member of the Greater China Team within the Emerging Markets and Asia Pacific (EMAP) Equities Team. Based in Hong Kong, she joined the firm in 2017 after six years at Fidelity International where she was a senior equity research analyst, responsible for regional and single country coverage including China healthcare, Hong Kong/China banking and regional gaming. Rebecca began her career with Deutsche Bank in 2005 as an equity research analyst covering the consumer discretionary and media sectors in China and Hong Kong. Rebecca obtained a B.A. in International Finance and a Masters in Finance from Fudan University. She is also a CFA Charterholder.
Fund ManagerLi Tan
Manager Start Date01/05/2023
 
Biography
Li Tan, Executive Director, is a country specialist for Greater China equities and a member of the Greater China team within the Emerging Markets and Asia Pacific (EMAP) Equities team. Based in Hong Kong and an employee since 2011, Li was previously a sector research analyst covering Asian banks with a focus on Greater China financials. Prior to that, he held strategy roles within the Investment Banking and Commercial Banking divisions of J.P. Morgan. Li holds an MSc in Management and Strategy from the London School of Economics and Political Science.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge0.75%
Ongoing Charge0.92%
Purchase Details
Minimum Investments
Initial10000000  USD
Additional1000  USD
Savings-
Tax Free Savings Schemes
ISAsYes