497 1 d327204d497.htm JPMORGAN TRUST I JPMorgan Trust I

JPMORGAN ACCESS FUNDS

JPMorgan Access Balanced Fund

JPMorgan Access Growth Fund

(each a “Fund” and together “the Funds”)

(each a series of JPMorgan Trust I)

(All Share Classes)

Supplement dated December 19, 2022

to the current Summary Prospectuses and Prospectus

Effective January 1, 2023, the portfolio manager information in the “Risk/Return Summary — Management” section of each Fund’s Summary Prospectus and Prospectus is deleted in its entirety and replaced with the following:

Management

Investment Adviser

J.P. Morgan Investment Management Inc.

Investment Sub-Adviser

 

     
Portfolio Manager      Managed the
Fund Since		    Primary Title with
Investment Sub-Adviser
J.P. Morgan Private Investments Inc.          
Jeffrey Gaffney      2015    Managing Director
Ramy El-Menshawy      2023    Managing Director

In addition, the “The Funds’ Management and Administration — The Portfolio Managers” section of the Prospectus is deleted in its entirety and replaced with the following:

The Portfolio Managers

The portfolio management team consists of Jeffrey Gaffney, Managing Director and Ramy El-Menshawy, Managing Director.

The portfolio managers are responsible for the day-to-day management of the Funds and determine the underlying investment strategies used for each of the Funds. The Global and the U.S. Investment Councils are responsible for the asset allocation and portfolio construction of the Funds.

Mr. Gaffney is a Managing Director and the Head of U.S. Multi-Asset Portfolio Management for the J.P. Morgan Private Bank Chief Investment Officer (“CIO”) Team. He joined J.P. Morgan in 2008 and has been a contributing member of the Private Bank CIO Team since 2010. Mr. Gaffney earned a Bachelor of Science in Engineering from Princeton University in Operations Research and Financial Engineering, and a Master of Business Administration from Yale University with an emphasis in Finance.

Mr. El-Menshawy is a Managing Director and Portfolio Manager for the J.P. Morgan Private Bank Portfolio Management Group. He joined J.P. Morgan in 2005 and has been a contributing member of the Private Bank Portfolio Management Group since 2009. Mr. El-Menshawy earned a Bachelor of Science in Business from the Stevens Institute of Technology and a Masters of Business Administration from the Stern School of Business at New York University.

The Statement of Additional Information provides additional information about the portfolio managers’ compensation, other accounts managed by the portfolio managers and the portfolio managers’ ownership of securities of the Funds.

 

INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE

SUMMARY PROSPECTUSES AND PROSPECTUS FOR FUTURE REFERENCE

 

SUP-ACC-PM-1222

JPMORGAN ACCESS FUNDS

JPMorgan Access Balanced Fund

JPMorgan Access Growth Fund

(each a “Fund” and together “the Funds”)

(All Share Classes)

(each a series of JPMorgan Trust I)

Supplement dated December 19, 2022

to the current Statement of Additional Information

Effective January 1, 2023, the table in the “Portfolio Managers — Portfolio Managers’ Other Accounts Managed” section of the Statement of Additional Information with respect to the Funds is deleted and replaced with the following:

 

     Non-Performance Based Fee Advisory Accounts  
     Registered Investment
Companies		      Other Pooled Investment
Vehicles		      Other Accounts  
     Number
of
Accounts		      Total Assets
($thousands)		      Number
of
Accounts		      Total Assets
($thousands)		      Number
of
Accounts		      Total Assets
($thousands)		  

Access Balanced Fund

                  
Jeffrey Gaffney      9        43,151,055        3        8,930,297        4        329,201,116  
Ramy El-Menshawy*      1        409,434        3        1,022,917        0        0  

Access Growth Fund

                  
Jeffrey Gaffney      9        43,004,055        3        8,930,297        4        329,201,116  
Ramy El-Menshawy*      1        358,344        3        1,022,917        0        0  
     Performance Based Fee Advisory Accounts  
     Registered Investment
Companies		      Other Pooled Investment
Vehicles		      Other Accounts  
     Number
of
Accounts		      Total Assets
($thousands)		      Number
of
Accounts		      Total Assets
($thousands)		      Number
of
Accounts		      Total Assets
($thousands)		  

Access Balanced Fund

                  
Jeffrey Gaffney      0        0        0        0        0        0  
Ramy El-Menshawy*      0        0        0        0        0        0  

Access Growth Fund

                  
Jeffrey Gaffney      0        0        0        0        0        0  
Ramy El-Menshawy*      0        0        0        0        0        0  

In addition, effective immediately, the table in the “Portfolio Managers — Portfolio Managers’ Ownership of Securities” section of the Statement of Additional Information with respect to the Funds is deleted and replaced with the following:

 

   

Aggregate Dollar Range of Securities in the Fund

  
   

None

   $1-
$10,000		     $10,001-
$50,000		     $50,001-
$100,000		     $100,001-
$500,000		     $500,001-
$1,000,000		     Over
$1,000,000		  

Access Balanced Fund

              
Jeffrey Gaffney   X            
Ramy El-Menshawy*   X            

Access Growth Fund

              
Jeffrey Gaffney             X      
Ramy El-Menshawy*   X            

 

*

Ramy El-Menshawy is a Portfolio Manager of the Funds effective 1/1/23. The information presented with respect to Mr. El-Menshawy is as of 10/31/22.

 

INVESTORS SHOULD RETAIN THIS SUPPLEMENT

WITH THE STATEMENT OF ADDITIONAL INFORMATION

FOR FUTURE REFERENCE

 

SUP-SAI-ACC-PM-1222