UNDER THE INVESTMENT COMPANY ACT OF 1940 |
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Amendment No. 57 |
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JPMORGAN INSTITUTIONAL TRUST
JPMorgan Core Bond Trust
(the Fund)
Supplement dated May 23, 2023
to the current Confidential Offering Memorandum, as supplemented
Portfolio Manager Retirement In Early 2024. Steven Lear has announced his retirement from J.P. Morgan Investment Management Inc. (JPMIM) in early 2024. Mr. Lear will continue to serve on the portfolio management team of the Fund until his retirement. In order to provide additional depth and continuity to the portfolio management team, Andrew Melchiorre and Edward Fitzpatrick III will be added to the portfolio management team of the Fund effective immediately.
Effective immediately, the portfolio manager information in the Risk/Return Summary Management section of the Confidential Offering Memorandum (COM) is deleted in its entirety and replaced with the following:
Management
J.P. Morgan Investment Management Inc. (the adviser)
Portfolio Manager | Managed the Fund Since |
Primary Title with Investment Adviser | ||
Richard D. Figuly | 2015 | Managing Director | ||
Justin Rucker | 2019 | Managing Director | ||
Steven Lear* | 2021 | Managing Director | ||
Andrew Melchiorre | 2023 | Managing Director | ||
Edward Fitzpatrick III | 2023 | Managing Director |
* | Mr. Lear has announced his retirement from JPMIM effective early 2024. Until his retirement, Mr. Lear will continue to serve on the portfolio management team. |
In addition, the The Funds Management and Administration The Fund Managers JPMorgan Core Bond Trust section of the COM is deleted in its entirety and replaced by the following:
JPMorgan Core Bond Trust.
The lead portfolio managers who are primarily responsible for the day-to-day management of the Fund are listed below. As part of that responsibility, the portfolio managers establish and monitor the overall duration, yield curve, and sector allocation strategies for the Fund. The portfolio managers are assisted by research teams who provide individual security and sector recommendations regarding their area of focus, while the portfolio managers select and allocate individual securities in a manner designed to meet the investment objective of the Fund.
The portfolio management team for the Fund consists of Richard Figuly, Managing Director, Justin Rucker, Managing Director and CFA charterholder, Steven Lear, Managing Director and CFA charterholder, Andrew Melchiorre, Managing Director and CFA charterholder and Edward Fitzpatrick III, Managing Director and CFA charterholder. Richard Figuly is the lead portfolio manager responsible for day-to-day management of the Fund. An employee of JPMIM or predecessor firms since 1993 and a member of the portfolio management team since September 2015, Mr. Figuly is a member of JPMIMs Global Fixed Income, Currency & Commodities Group (GFICC) and head of GFICCs Core Bond team responsible for managing certain J.P. Morgan Funds and institutional taxable bond portfolios. An employee of JPMIM since 2006 and a portfolio manager of the Fund since 2019, Justin Rucker, is a member of the GFICC group responsible for managing Long Duration and Core Bond institutional taxable bond portfolios. An employee of JPMIM since 2008 and a portfolio manager of the Fund since January 2021, Steven Lear is the U.S. Chief Investment Officer within the GFICC team responsible for oversight and management of fixed income investment strategies in the U.S. An employee of JPMIM since 2012 and a portfolio manager of the Fund since 2023, Mr. Melchiorre, Managing Director and CFA charterholder, is a member of the GFICC group responsible for managing Core Bond institutional taxable bond portfolios and fund vehicles. An employee of JPMIM since 2013 and a portfolio manager of the Fund since
SUP-CBT-PM-523
2023, Mr. Fitzpatrick, Managing Director and CFA charterholder, is the head of GFICCs U.S. Rates Team, responsible for managing government bond portfolios for institutional clients, as well as recommending U.S. rates & derivatives strategies across GFICC portfolios.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE
CONFIDENTIAL OFFERING MEMORANDUM FOR FUTURE REFERENCE
JPMORGAN INSTITUTIONAL TRUST
JPMorgan Core Bond Trust
(the Fund)
Supplement dated May 23, 2023
to the current Confidential Offering Memorandum Supplement, as supplemented
Effective immediately, the The Adviser Other Accounts Managed by the Funds Portfolio Managers section of the Confidential Offering Memorandum Supplement (COM Supplement) with respect to the Fund is hereby deleted in its entirety and replaced with the following:
Other Accounts Managed by the Funds Portfolio Managers*
The following table shows information regarding all of the other accounts for which advisory fees are not based on the performance of the accounts that are managed by each portfolio manager as of February 28, 2022:
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) |
|||||||||||||||||||
Core Bond Trust |
||||||||||||||||||||||||
Richard D. Figuly | 28 | $ | 75,269,155 | 15 | $ | 19,119,794 | 20 | $ | 5,236,250 | |||||||||||||||
Justin Rucker | 14 | 49,210,101 | 6 | 14,428,951 | 26 | 7,534,952 | ||||||||||||||||||
Steven Lear | 17 | 77,644,468 | 5 | 15,886,520 | 14 | 1,871,625 | ||||||||||||||||||
Andrew Melchiorre** | 8 | 14,738,093 | 4 | 3,682,970 | 23 | 5,703.345 | ||||||||||||||||||
Edward Fitzpatrick III** | 1 | 262,967 | 2 | 51,642 | 2 | 1,628,352 |
The following table shows information regarding the other accounts managed by each portfolio manager that have advisory fees wholly or partly based on performance as of February 28, 2022:
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) |
|||||||||||||||||||
Core Bond Trust |
| |||||||||||||||||||||||
Richard D. Figuly | 0 | $ | 0 | 0 | $ | 0 | 1 | $ | 1,332,900 | |||||||||||||||
Justin Rucker | 0 | 0 | 0 | 0 | 1 | 1,332,900 | ||||||||||||||||||
Steven Lear | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||
Andrew Melchiorre** | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||
Edward Fitzpatrick III** | 0 | 0 | 0 | 0 | 1 | 125,897 |
* | The total value and number of accounts managed by a portfolio manager may include sub-accounts of asset allocation, multi-managed and other accounts. |
** | As of February 28, 2023. |
SUP-SAI-CBT-PM-523
In addition, effective immediately, the The Adviser Ownership of Securities section of the COM Supplement with respect to the Fund is hereby deleted in its entirety and replaced with the following:
Ownership of Securities
The following table indicates the dollar range of securities beneficially owned by each portfolio manager, as of February 28, 2022. Aggregate Dollar Range, if applicable, includes each portfolio managers deferred compensation balance attributable to each Fund through participation in the Advisers deferred compensation plan. If applicable, this reflects an obligation of the Adviser to pay deferred compensation to the portfolio manager at a future date in an amount based on the performance of that Fund and accordingly, is the economic equivalent of an investment in Fund shares.
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 |
||||||||||||||||||||
Core Bond Trust |
| |||||||||||||||||||||||||
Richard D. Figuly | X | |||||||||||||||||||||||||
Justin Rucker | X | |||||||||||||||||||||||||
Steven Lear | X | |||||||||||||||||||||||||
Andrew Melchiorre* | X | |||||||||||||||||||||||||
Edward Fitzpatrick III* | X |
* | As of February 28, 2023. |
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE
CONFIDENTIAL OFFERING MEMORANDUM SUPPLEMENT FOR FUTURE REFERENCE
Exhibits filed pursuant to Form N-1A: | |
(a)(1) |
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(a)(2) |
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(a)(3) |
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(b) |
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(c) |
None. |
(d)(1) |
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(d)(2) |
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(e) |
Not applicable. |
(f) |
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(g)(1)(a) |
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(g)(1)(b) |
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(g)(1)(c) |
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(g)(2)(a) |
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(g)(2)(b) |
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(h)(1)(a) |
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(h)(1)(b) |
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(h)(1)(c) |
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(h)(1)(d) |
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(h)(1)(e) |
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(h)(2)(a) |
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(h)(2)(b) |
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(h)(2)(c) |
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(h)(3) |
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(h)(4) |
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(h)(5)(a) |
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(h)(5)(b) |
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(h)(5)(c) |
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(h)(5)(d) |
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(h)(6)(a) |
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(i) |
Not applicable. |
(j) |
Not applicable. |
(k) |
Not applicable. |
(l) |
Not applicable. |
(m) |
Not applicable. |
(n) |
Not applicable. |
(o) |
Reserved. |
(p) |
Codes of Ethics. |
(1) |
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(2) |
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(99)(a) |
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(99)(b) |
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(99)(c) |
JPMorgan Institutional Trust | |
By: |
Brian S. Shlissel* |
|
Name: Brian S. Shlissel |
|
Title: President and Principal Executive Officer |
John F. Finn* |
John F. Finn |
Trustee |
Stephen P. Fisher* |
Stephen P. Fisher |
Trustee |
Gary L. French* |
Gary L. French |
Trustee |
Kathleen M. Gallagher* |
Kathleen M. Gallagher |
Trustee |
Robert J. Grassi* |
Robert J. Grassi |
Trustee |
Frankie D. Hughes* |
Frankie D. Hughes |
Trustee |
Raymond Kanner* |
Raymond Kanner |
Trustee |
Thomas P. Lemke* |
Thomas P. Lemke |
Trustee |
Timothy J. Clemens* |
Timothy J. Clemens |
Treasurer and Principal Financial Officer |
*By |
/s/ Zachary E. Vonnegut-Gabovitch |
|
Zachary E. Vonnegut-Gabovitch |
|
Attorney-In-Fact |
Lawrence R. Maffia* |
Lawrence R. Maffia |
Trustee |
Mary E. Martinez* |
Mary E. Martinez |
Trustee |
Marilyn McCoy* |
Marilyn McCoy |
Trustee |
Robert A. Oden, Jr.* |
Robert A. Oden, Jr. |
Trustee |
Marian U. Pardo* |
Marian U. Pardo |
Trustee |
Emily A. Youssouf* |
Emily A. Youssouf |
Trustee |
Robert F. Deutsch* |
Robert F. Deutsch |
Trustee |
Nina O. Shenker* |
Nina O. Shenker |
Trustee |
Brian S. Shlissel* |
Brian S. Shlissel |
President and Principal Executive Officer |