JPMORGAN TRUST I
JPMORGAN TRUST II
JPMORGAN TRUST III
JPMORGAN TRUST IV
UNDISCOVERED MANAGERS FUNDS
JPMORGAN INSURANCE TRUST
J.P. MORGAN FLEMING MUTUAL FUND GROUP, INC.
J.P. MORGAN MUTUAL FUND INVESTMENT TRUST
JPMORGAN INSTITUTIONAL TRUST
PACHOLDER HIGH YIELD FUND, INC.
J.P. MORGAN ACCESS MULTI-STRATEGY FUND, L.L.C.
J.P. MORGAN ACCESS MULTI-STRATEGY FUND II
(each a Trust, collectively, the Trusts)

Secretary's Certificate


The undersigned hereby certifies that he is the Secretary of
JPMorgan Trust I, JPMorgan Trust II, JPMorgan Trust III,
JPMorgan Trust IV,Undiscovered Managers Funds, JPMorgan
Insurance Trust, J.P. Morgan Fleming Mutual Fund Group, Inc.,
J.P. Morgan Mutual Fund Investment Trust, JPMorgan
Institutional Trust, Pacholder High Yield Fund, Inc.,
J.P. Morgan Access Multi-Strategy Fund, L.L.C. and
J.P. Morgan Access Multi-Strategy Fund II (the "Trusts");
that the following is a true and correct copy of the resolutions
approving the amount and form of the fidelity bond adopted
by vote of a majority of the members of the Board of
Trustees/Directors of the Trusts, including a majority
of the Trustees/Directors who are not interested persons
of the Trusts (within the meaning of Section 2(a)(19)
of the Investment Company Act of 1940 Act, as amended)
on the 14th day of February 2017 and that said resolutions
are in full force and effect:

RESOLVED, that it is the finding of the Trustees of
JPMorgan Trust I, JPMorgan Trust II,JPMorgan Trust III,
JPMorgan Trust IV, Undiscovered Managers Funds, JPMorgan
Insurance Trust, J.P. Morgan Fleming Mutual Fund Group, Inc.,
J.P. Morgan Mutual Fund Investment Trust,JPMorgan
Institutional Trust, Pacholder High Yield Fund, Inc.
J.P. Morgan Access Multi-Strategy Fund, L.L.C.and
J.P. Morgan Access Multi-Strategy Fund II (collectively,
the "Trusts") and separately the finding of the Independent
Trustees that the proposed Fidelity Bond written by St. Paul
Fire and Marine Insurance Company (the "Bond") in the aggregate
amount of $19,650,000, covering, among others, officers and
employees of the Trusts,in accordance with the requirements
of Rule 17g-1 promulgated by the Securities and Exchange
Commission under Section 17(g) of the Investment Company
Act of 1940, as amended, is reasonable in form and amount,
after having given due consideration to, among other things,
the value of the aggregate assets of each of the funds that
are series of the Trusts to which any person covered under
the Bond may have access, the type and terms of the
arrangements made for the custody and safekeeping of assets
of the Trusts, and the nature of the securities in the funds'
portfolios; and

FURTHER RESOLVED, that the premium to be paid by the Trusts
under the Bond be, and hereby is,approved by the Trustees
and separately by the Independent Trustees after having
given due consideration to, among other things, the number
of other parties insured under the Bond, the nature of the business
activities of those other parties, the amount of the Bond,
the amount of the premium of the Bond, the ratable allocation
of the premium among all persons named as insureds, and the
extent to which the share of the premium allocated to each Trust
under the Bond is no more than the premium that such Trust
would have had to pay had it maintained a single insured bond; and

FURTHER RESOLVED, that the Bond and the premium to be paid be,
and hereby are, approved by a vote of a majority of the Trustees
and separately by the Independent Trustees; and

FURTHER RESOLVED, that the officers of the Trusts be, and each
of them hereby is,authorized and directed to enter into an
agreement on behalf among the Trusts, in substantially the form
furnished to the Trustees. as required by Rule 17g-1, with the
other named insureds under the Bond providing that in the event
any recovery is received under the Bond as a result of a loss
sustained by a Trust and also by one or more of the other named
insureds, that Trust shall receive an equitable and proportionate
share of the recovery, but in no event less than the amount
it would have received had it provided and maintained a single
insured bond with the minimum coverage required by paragraph (d)(1)
of the aforementioned Rule 17g-1; and

FURTHER RESOLVED, that the appropriate officers of the Trusts be,
and they hereby are,authorized and directed to prepare, execute
and file such amendments and supplements to the aforesaid
agreement, and to take such other action as may be necessary
or appropriate in order to conform to the provisions of the
Investment Company Act of 1940, as amended, and the rules and
regulations thereunder; and

FURTHER RESOLVED, that the Secretary of the Trusts shall
file the Bond with the Securities and Exchange Commission
and give notice required under paragraph (g) of the
aforementioned Rule 17g- 1; and

FURTHER RESOLVED, that the appropriate officers of
Trusts be, and each of them hereby is, authorized to
make any and all payments and to do any and all other
acts, in the name of Trusts and on its behalf, as they,
or any of them, may determine to be necessary or desirable
and proper in connection with or in furtherance of the
foregoing resolutions.



Dated this 1st day of March, 2017



/s/Frank J. Nasta
Frank J. Nasta
Secretary