08/29/2024 | Press release | Distributed by Public on 08/29/2024 08:08
JPMorgan SmartRetirement Blend Funds
JPMorgan Trust I
JPMorgan SmartRetirement® Blend Income Fund
JPMorgan SmartRetirement® Blend 2020 Fund
JPMorgan SmartRetirement® Blend 2025 Fund
JPMorgan SmartRetirement® Blend 2030 Fund
JPMorgan SmartRetirement® Blend 2035 Fund
JPMorgan SmartRetirement® Blend 2040 Fund
JPMorgan SmartRetirement® Blend 2045 Fund
JPMorgan SmartRetirement® Blend 2050 Fund
JPMorgan SmartRetirement® Blend 2055 Fund
JPMorgan SmartRetirement® Blend 2060 Fund
JPMorgan Trust IV
JPMorgan SmartRetirement® Blend 2065 Fund
(All Share Classes)
Supplement dated August 29, 2024, to the
Summary Prospectuses, Prospectuses
and Statement of Additional Information dated November 1, 2023, as supplemented
JPMorgan SmartRetirement® Blend Funds Restructure
Effective November 1, 2024, the investment strategy for each of the JPMorgan SmartRetirement® Blend Funds will be modified to reflect a change in how they operate. This change was approved by the Board of Trustees. In particular, each SmartRetirement®Blend 2020-2065 Fund (each a "Fund") anticipates merging into the SmartRetirement® Income Blend Fund soon after the target allocations of the Fund are substantially the same as the SmartRetirement® Income Blend Fund, which is expected to be the case at or around the Fund's target retirement year (the year in its name). As a result, a Fund will no longer enter the "Spending Phase" or produce a sample withdrawal amount and seek to achieve certain long-term risk and return targets to support the sample withdrawal amount. References to the "Savings Phase" and "Spending Phase" will be removed as will references to sample withdrawal amounts and associated risk and return targets. There will be no modifications to the Fund's current glide path or portfolio holdings as a result of this change.
Reorganization of JPMorgan SmartRetirement®Blend 2020 Fund into JPMorgan SmartRetirement® Blend Income Fund
In connection with the change described above, it is expected that the JPMorgan SmartRetirement® Blend 2020 Fund (the "2020 Fund") will be merged into the JPMorgan SmartRetirement® Blend Income Fund (the "Income Fund") on or about April 25, 2025 (the "Reorganization"). The Board of Trustees approved the Reorganization. An information statement/registration statement will be mailed to 2020 Fund shareholders closer to the Reorganization date providing further details. It is anticipated that the Reorganization will not require shareholder approval.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH
THE SUMMARY PROSPECTUSES, PROSPECTUSES AND STATEMENT OF ADDITIONAL INFORMATION
FOR FUTURE REFERENCE
SUP-SRB-824