How Funds Work

Our funds are managed under a legal structure known as a SICAV - or Societe d'Investissement a Capital Variable. This is an open-ended investment company organised as a "societe anonyme" under the laws of the Grand Duchy of Luxembourg. The company operates separate Funds, each of which is represented by one or more Classes of Shares. The funds are distinguished by their specific investment policy or any other specific features.

A few of our funds (the ones denominated JPMorgan Fleming Lux Funds), are structured as Fonds Communs de Placement organised under Luxembourg law.

By using a SICAV fund, investors can achieve a high level of investment diversification – even if their own holding in the fund is relatively small. Plus there is the benefit of knowing that all the day-to-day investment decisions are being carried out by a team of our investment professionals.

Buying and tracking shares

As a SICAV fund is open-ended more shares can be created as investors join the fund.

The fund share price moves in line with the performance of the fund’s underlying portfolio, or ‘net asset value’. The fund’s share price is repriced each business day by recalculating the net asset value. You can follow the share price on this website and in the financial press.

Accumulation and distribution shares

Some funds pay an income and therefore may offer distribution and/or accumulation shares. If you hold distribution shares, the income is paid out to you. If you buy accumulation shares, any income will be reinvested and reflected in the share price.

How To Invest

for information on how to invest