0000949365-12-000031.txt : 20120202
0000949365-12-000031.hdr.sgml : 20120202
20120202172640
ACCESSION NUMBER: 0000949365-12-000031
CONFORMED SUBMISSION TYPE: 40-17G
PUBLIC DOCUMENT COUNT: 5
FILED AS OF DATE: 20120202
DATE AS OF CHANGE: 20120202
EFFECTIVENESS DATE: 20120202
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: JPMORGAN TRUST II
CENTRAL INDEX KEY: 0000763852
IRS NUMBER: 000000000
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0630
FILING VALUES:
FORM TYPE: 40-17G
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-04236
FILM NUMBER: 12566940
BUSINESS ADDRESS:
STREET 1: C/O JPMORGAN DISTRIBUTION SERVICES, INC.
STREET 2: 270 PARK AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10017
BUSINESS PHONE: 800-480-4111
MAIL ADDRESS:
STREET 1: C/O JPMORGAN DISTRIBUTION SERVICES, INC.
STREET 2: 270 PARK AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10017
FORMER COMPANY:
FORMER CONFORMED NAME: ONE GROUP MUTUAL FUNDS
DATE OF NAME CHANGE: 20000721
FORMER COMPANY:
FORMER CONFORMED NAME: ONE GROUP
DATE OF NAME CHANGE: 19931105
FORMER COMPANY:
FORMER CONFORMED NAME: HELMSMAN FUND
DATE OF NAME CHANGE: 19920703
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: JP MORGAN MUTUAL FUND INVESTMENT TRUST
CENTRAL INDEX KEY: 0000803747
IRS NUMBER: 311574186
STATE OF INCORPORATION: MA
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 40-17G
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-05526
FILM NUMBER: 12566946
BUSINESS ADDRESS:
STREET 1: C/O J.P. MORGAN FUND DISTRIBUTORS, INC.
STREET 2: 270 PARK AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10017
BUSINESS PHONE: 800-480-4111
MAIL ADDRESS:
STREET 1: C/O J.P. MORGAN FUND DISTRIBUTORS, INC.
STREET 2: 270 PARK AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10017
FORMER COMPANY:
FORMER CONFORMED NAME: MUTUAL FUND INVESTMENT TRUST
DATE OF NAME CHANGE: 19980828
FORMER COMPANY:
FORMER CONFORMED NAME: AVESTA TRUST
DATE OF NAME CHANGE: 19940504
FORMER COMPANY:
FORMER CONFORMED NAME: RETIREMENT INVESTMENT TRUST
DATE OF NAME CHANGE: 19920703
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: JP MORGAN MUTUAL FUND GROUP/MA
CENTRAL INDEX KEY: 0000814078
IRS NUMBER: 134161079
STATE OF INCORPORATION: MA
FISCAL YEAR END: 1031
FILING VALUES:
FORM TYPE: 40-17G
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-05151
FILM NUMBER: 12566947
BUSINESS ADDRESS:
STREET 1: C/O JPMORGAN DISTRIBUTION SERVICES, INC.
STREET 2: 270 PARK AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10017
BUSINESS PHONE: 800-480-4111
MAIL ADDRESS:
STREET 1: C/O JPMORGAN DISTRIBUTION SERVICES, INC.
STREET 2: 270 PARK AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10017
FORMER COMPANY:
FORMER CONFORMED NAME: MUTUAL FUND GROUP/MA
DATE OF NAME CHANGE: 20000929
FORMER COMPANY:
FORMER CONFORMED NAME: VISTA FUNDS
DATE OF NAME CHANGE: 19981231
FORMER COMPANY:
FORMER CONFORMED NAME: MUTUAL FUND GROUP
DATE OF NAME CHANGE: 19920703
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: PACHOLDER HIGH YIELD FUND INC
CENTRAL INDEX KEY: 0000837951
IRS NUMBER: 311251983
STATE OF INCORPORATION: MD
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 40-17G
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-05639
FILM NUMBER: 12566944
BUSINESS ADDRESS:
STREET 1: 270 PARK AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10017
BUSINESS PHONE: 8002179502
MAIL ADDRESS:
STREET 1: 270 PARK AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10017
FORMER COMPANY:
FORMER CONFORMED NAME: PACHOLDER FUND INC
DATE OF NAME CHANGE: 19931130
FORMER COMPANY:
FORMER CONFORMED NAME: USF&G PACHOLDER FUND INC /OH/
DATE OF NAME CHANGE: 19920703
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: JPMORGAN INSURANCE TRUST
CENTRAL INDEX KEY: 0000909221
IRS NUMBER: 000000000
STATE OF INCORPORATION: MA
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 40-17G
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-07874
FILM NUMBER: 12566949
BUSINESS ADDRESS:
STREET 1: C/O JPMORGAN DISTRIBUTION SERVICES, INC.
STREET 2: 270 PARK AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10017
BUSINESS PHONE: 800-480-4111
MAIL ADDRESS:
STREET 1: C/O JPMORGAN DISTRIBUTION SERVICES, INC.
STREET 2: 270 PARK AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10017
FORMER COMPANY:
FORMER CONFORMED NAME: JPMORGAN INVESTMENT TRUST
DATE OF NAME CHANGE: 20050504
FORMER COMPANY:
FORMER CONFORMED NAME: ONE GROUP INVESTMENT TRUST
DATE OF NAME CHANGE: 19930716
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: JP MORGAN FLEMING MUTUAL FUND GROUP INC
CENTRAL INDEX KEY: 0001037897
IRS NUMBER: 133963293
STATE OF INCORPORATION: MD
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 40-17G
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-08189
FILM NUMBER: 12566948
BUSINESS ADDRESS:
STREET 1: C/O JPMORGAN DISTRIBUTION SERVICES, INC.
STREET 2: 270 PARK AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10017
BUSINESS PHONE: 800-480-4111
MAIL ADDRESS:
STREET 1: C/O JPMORGAN DISTRIBUTION SERVICES, INC.
STREET 2: 270 PARK AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10017
FORMER COMPANY:
FORMER CONFORMED NAME: FLEMING MUTUAL FUND GROUP INC
DATE OF NAME CHANGE: 20000128
FORMER COMPANY:
FORMER CONFORMED NAME: FLEMING CAPITAL MUTUAL FUND GROUP INC
DATE OF NAME CHANGE: 19970930
FORMER COMPANY:
FORMER CONFORMED NAME: FLEMING CAPITAL MUTUAL FUND GROUP
DATE OF NAME CHANGE: 19970416
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: UNDISCOVERED MANAGERS FUNDS
CENTRAL INDEX KEY: 0001047712
IRS NUMBER: 043400483
STATE OF INCORPORATION: MA
FISCAL YEAR END: 0831
FILING VALUES:
FORM TYPE: 40-17G
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-08437
FILM NUMBER: 12566939
BUSINESS ADDRESS:
STREET 1: C/O J.P. MORGAN FUND DISTRIBUTORS, INC.
STREET 2: 270 PARK AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10017
BUSINESS PHONE: 800-480-4111
MAIL ADDRESS:
STREET 1: C/O J.P. MORGAN FUND DISTRIBUTORS, INC.
STREET 2: 270 PARK AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10017
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: JPMorgan Trust I
CENTRAL INDEX KEY: 0001217286
IRS NUMBER: 331043149
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 40-17G
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-21295
FILM NUMBER: 12566941
BUSINESS ADDRESS:
STREET 1: C/O JPMORGAN DISTRIBUTION SERVICES, INC.
STREET 2: 270PARK AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10017
BUSINESS PHONE: 800-480-4111
MAIL ADDRESS:
STREET 1: C/O JPMORGAN DISTRIBUTION SERVICES, INC.
STREET 2: 270PARK AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10017
FORMER COMPANY:
FORMER CONFORMED NAME: JP MORGAN MUTUAL FUND SERIES
DATE OF NAME CHANGE: 20030204
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: JP MORGAN ACCESS MULTI-STRATEGY FUND LLC
CENTRAL INDEX KEY: 0001286410
IRS NUMBER: 000000000
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0331
FILING VALUES:
FORM TYPE: 40-17G
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-21552
FILM NUMBER: 12566943
BUSINESS ADDRESS:
STREET 1: 270 PARK AVENUE
STREET 2: FLOOR 3
CITY: NEW YORK
STATE: NY
ZIP: 10017
BUSINESS PHONE: 2126482610
MAIL ADDRESS:
STREET 1: 270 PARK AVENUE
STREET 2: FLOOR 3
CITY: NEW YORK
STATE: NY
ZIP: 10017
FORMER COMPANY:
FORMER CONFORMED NAME: JP MORGAN MULTI-STRATEGY FUND LLC
DATE OF NAME CHANGE: 20040407
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: JPMorgan Institutional Trust
CENTRAL INDEX KEY: 0001303608
IRS NUMBER: 201491791
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0630
FILING VALUES:
FORM TYPE: 40-17G
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-21638
FILM NUMBER: 12566945
BUSINESS ADDRESS:
STREET 1: C/O JPMORGAN DISTRIBUTION SERVICES, INC.
STREET 2: 270 PARK AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10017
BUSINESS PHONE: 800-480-4111
MAIL ADDRESS:
STREET 1: C/O JPMORGAN DISTRIBUTION SERVICES, INC.
STREET 2: 270 PARK AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10017
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: J.P. Morgan Access Multi-Strategy Fund II
CENTRAL INDEX KEY: 0001524115
IRS NUMBER: 000000000
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0331
FILING VALUES:
FORM TYPE: 40-17G
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-22575
FILM NUMBER: 12566942
BUSINESS ADDRESS:
STREET 1: 270 PARK AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10017
BUSINESS PHONE: 800-480-4111
MAIL ADDRESS:
STREET 1: 270 PARK AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10017
40-17G
1
fidelitybond.txt
2011-2012 FIDELITY BOND
IMPORTANT NOTICE - INDEPENDENT AGENT AND BROKER
COMPENSATION NO COVERAGE IS PROVIDED BY THIS NOTICE.
THIS NOTICE DOES NOTAMEND ANY PROVISION OF YOUR
POLICY. YOU SHOULD REVIEW YOUR ENTIRE POLICY
CAREFULLY FOR COMPLETE INFORMATION ON THE COVERAGES
PROVIDED AND TO DETERMINE YOUR RIGHTS AND DUTIES
UNDER YOUR POLICY. PLEASE CONTACT YOUR AGENT OR BROKER IF
YOU HAVE ANY QUESTIONS ABOUT THIS NOTICE OR ITS CONTENTS.
IF THERE IS ANY CONFLICT BETWEEN YOUR POLICY
AND THIS NOTICE, THE PROVISIONS OF YOUR POLICY PREVAIL.
For information about how Travelers compensates
independent agents and brokers, please visit www.travelers.com,
call our toll-free telephone number,
1-866-904-8348, or you may request a written copy
from Marketing at One Tower
Square, 2GSA, Hartford, CT 06183.
HOW TO REPORT LOSSES, CLAIMS, OR POTENTIAL CLAIMS TO
TRAVELERS
Reporting new losses, claims, or potential claims promptly
can be critical. It helps to resolve covered losses or
claims as quickly as possible and often
reduces the overall cost. Prompt reporting:
better protects the interests of all parties;
helps Travelers to try to resolve losses or claims
more quickly; and
often reduces the overall cost of a loss or claim - losses
or claims reported more than five days after they happen
cost on average 35% more than those
reported earlier. Report losses, claims, or potential claims
to Travelers easily and quickly by fax, U S mail, or email.
FAX
Use this number to report a loss, claim, or potential claim
by fax toll free.
1-888-460-6622
US MAIL
Use this address to report a loss, claim, or potential claim
by U S Mail. Bond-FPS Claims Department Travelers Mail Code
NB08F 385 Washington Street Saint
Paul, Minnesota 55102
EMAIL
Use this address to report a loss, claim, or potential claim
by email. Pro.E&O.Claim.Reporting@SPT.com
This is a general description of how to report a loss,
claim, or potential claim under this policy or bond. This
description does not replace or add to the terms
of this policy or bond. The policy or bond alone determines
the scope of coverage. Please read it carefully for
complete information on coverage. Contact your agent
or broker if you have any questions about coverage.
INVESTMENT COMPANY BLANKET BOND
St. Paul Fire and Marine Insurance Company
St. Paul, Minnesota 55102-1396 (A Stock Insurance Company,
herein called Underwriter)
The hard copy of the bond issued by the Underwriter will be
referenced in the event of a loss.
DECLARATIONS BOND NO. 490PB2851
Item 1. Name of Insured (herein called Insured):
JPMORGAN FUNDS
Principal Address:
245 PARK AVENUE - 2ND FLOOR NY1-Q205 NEW YORK, NY 10167
Item 2. Bond Period from 12:01 a.m. on 03/01/11 to 12:01 a.m.
on 03/01/2012 the effective date of the termination or
cancellation of the bond, standard time at
the Principal Address as to each of said dates.
Item 3. Limit of Liability
Subject to Sections 9, 10, and 12 hereof:
Limit of Liability Deductible Amount
Insuring Agreement A - FIDELITY $14,350,000 $0
Insuring Agreement B - AUDIT EXPENSE $50,000 $0
Insuring Agreement C - PREMISES $14,350,000 $25,000
Insuring Agreement D - TRANSIT $14,350,000 $25,000
Insuring Agreement E - FORGERY OR ALTERATION $14,350,000
$25,000
Insuring Agreement F - SECURITIES $14,350,000 $25,000
Insuring Agreement G - COUNTERFEIT CURRENCY $14,350,000
$25,000
Insuring Agreement H - STOP PAYMENT $50,000 $5,000
Insuring Agreement I - UNCOLLECTIBLE ITEMS OF DEPOSIT
$50,000 $5,000
OPTIONAL COVERAGES ADDED BY RIDER:
Insuring Agreement J - Unauthorized Signatures $50,000 $5,000
Insuring Agreement K - Computer Systems $14,350,000 $25,000
Insuring Agreement L - Voice-Initiated Transfer $14,350,000
$25,000
Insuring Agreement M - Telefacimile Transactions $14,350,000
$25,000
If "Not Covered" is inserted above opposite any
specified Insuring Agreement or Coverage, such Insuring
Agreement or Coverage and any other reference thereto in
this bond shall be deemed to be deleted therefrom.
Item 4. Offices or Premises Covered - Offices acquired or
established subsequent to theeffective date of this bond are
covered according to the terms of GeneralAgreement
A. All the Insured's offices or premises in existence at the
time this bond becomes effective are covered under this bond
except the offices or premises located as follows: N/A
ICB001 Rev. 7/04 (a) 2004 The Travelers Indemnity Company.
All rights reserved. Page 1 of 2
Item 5. The liability of the Underwriter is subject to the
terms of the followingendorsements or riders attached hereto:
Endorsements or Riders No. 1 through ICB010 Ed 7/04, ICB011
Ed. 7-04, ICB012 Ed. 7-04, ICB013 Ed. 7-04, ICB014 Ed.
7-04, ICB015 Ed. 7-04, ICB016 Ed. 7-04, ICB026 Ed. 7-04,
MEL3724 Ed. 11-05, MEL4734 Ed. 11-06
Item 6. The Insured by the acceptance of this bond gives
notice to the Underwriterterminating or canceling prior
bonds or policy(ies) No.(s) 490PB2554 such termination or
cancellation to be effective as of the time this bond becomes
effective.
IN WITNESS WHEREOF, the Company has caused this bond to be
signed by its President and Secretary and countersigned by a
duly authorized representative of the Company.
Countersigned: ST. PAUL FIRE AND MARINE INSURANCE COMPANY
/s/ Brian MacLean, President
/s/ Wendy C. Skierven, Secretary
Authorized Representative Countersigned At
Countersignature Date ICB001 Rev. 7/04 (a) 2004 The Travelers
Indemnity Company. All rights reserved.
Page 2 of 2
INVESTMENT COMPANY BLANKET BOND
The Underwriter, in consideration of an agreed premium,
and subject to the Declarations made a part hereof, the
General Agreements, Conditions and Limitations and other
terms of this bond, agrees with the Insured, in accordance
with the Insuring Agreements hereof to which an amount of
insurance is applicable as set forth in Item 3 of the
Declarations and with respect to loss sustained by the Insured
at any time but discovered during the Bond Period, to
indemnify and hold harmless the Insured for:
INSURING AGREEMENTS
(A) FIDELITY
Loss resulting from any dishonest or fraudulent act(s), including
Larceny or Embezzlement, committed by an Employee, committed
anywhere and whether committed alone or in collusion with
others, including loss of Property resulting from such acts
of an Employee, which Property is held by the Insured for
any purpose or in any capacity and whether so held gratuitously
or not and whether or not the Insured is liable therefor.
Dishonest or fraudulent act(s) as used in this Insuring Agreement
shall mean only dishonest or fraudulent act(s) committed by
such Employee with the manifest intent:
(a)
to cause the Insured to sustain such loss; and
(b)
to obtain financial benefit for the Employee, or for any
other Person or
organization intended by the Employee to receive such benefit,
other than salaries, commissions, fees, bonuses, promotions,
awards, profit sharing, pensions or other employee benefits
earned in the normal course of employment.
(B) AUDIT EXPENSE
Expense incurred by the Insured for that part of the costs
of audits or examinations required by any governmental regulatory
authority to be conducted either by such authority or by an
independent accountant by reason of the discovery of loss
sustained by the Insured through any dishonest or fraudulent
act(s), including Larceny or Embezzlement, of any of the Employees.
The total liability of the Underwriter for such expense by
reason of such acts of any Employee or in which such Employee
is concerned or implicated or with respect to any one audit or
examination is limited to the amount stated opposite Audit
Expense in Item 3 of the Declarations; it being understood,
however, that such expense shall be deemed to be a loss
sustained by the Insured through any dishonest or fraudulent
act(s), including Larceny or Embezzlement, of one or more of the
Employees, and the liability under this paragraph shall be in
addition to the Limit of Liability stated in Insuring Agreement
(A) in Item 3 of the Declarations.
(C) ON PREMISES
Loss of Property (occurring with or without negligence or
violence) through robbery, burglary, Larceny, theft, holdup,
or other fraudulent means, misplacement, mysterious unexplainable
disappearance, damage thereto or destruction thereof,
abstraction or removal from the possession, custody or
control of the Insured, and loss of subscription, conversion,
redemption or deposit privileges through the misplacement or loss of
Property, while the Property is (or is supposed or believed by
the Insured to be) lodged or deposited within any offices or
premises located anywhere, except in an office listed in Item 4
of the Declarations or amendment thereof or in the mail or with
a carrier for hire, other than an armored motor vehicle company,
for the purpose of transportation.
Office and Equipment
(1)
loss of or damage to furnishings, fixtures, stationery, supplies
or equipment, within any of the Insured's offices covered under
this bond caused by Larceny or theft in, or by burglary,
robbery or hold-up of, such office, or attempt
thereat, or by vandalism or malicious mischief; or
(2)
loss through damage to any such office by Larceny or theft in,
or by burglary, robbery or hold-up of, such office, or attempt
thereat, or to the interior of any such office by vandalism or
malicious mischief provided, in any event, that the Insured is
the owner of such offices, furnishings, fixtures, stationery,
supplies or equipment or is legally liable for such loss or damage
always excepting, however, all loss or damage through fire.
(D) IN TRANSIT
Loss of Property (occurring with or without negligence or
violence) through robbery, Larceny, theft, hold-up, misplacement,
mysterious unexplainable disappearance, being lost or otherwise made
away with, damage thereto or destruction thereof, and loss of
subscription, conversion, redemption or deposit privileges
through the misplacement or loss of Property, while the
Property is in transit anywhere in the custody of any person
or persons acting as messenger, except while in the mail
or with a carrier for hire, other than an armored motor
vehicle company, for the purpose of transportation,
such transit to begin immediately upon receipt of such
Property by the transporting person or persons,
and to end immediately upon delivery thereof at destination.
(E) FORGERY 0R ALTERATION
Loss through Forgery or alteration of or on:
(1)
any bills of exchange, checks, drafts, acceptances,
certificates of deposit, promissory notes, or other written
promises, orders or directions to pay sums certain in money,
due bills, money orders, warrants, orders upon public
treasuries, letters of credit; or
(2)
other written instructions, advices or applications directed
to the Insured, authorizing or acknowledging the transfer,
payment, delivery or receipt of funds or Property, which
instructions, advices or applications purport to have been
signed or endorsed by any:
(a)
customer of the Insured, or
(b)
shareholder or subscriber to shares, whether
certificated or uncertificated, of any Investment
Company, or
(c)
financial or banking institution or stockbroker,
but which instructions, advices or applications either bear
the forged signature or endorsement or have been altered without
the knowledge and consent of such customer, shareholder or
subscriber to shares, or financial or banking
institution or stockbroker; or
(3)
withdrawal orders or receipts for the withdrawal of funds
or Property, or receipts or certificates of deposit for
Property and bearing the name of the Insured as issuer,
or of another Investment Company for which the Insured acts
as agent, excluding, however, any loss covered under
Insuring Agreement (F) hereof whether or not coverage for
Insuring Agreement (F) is provided for in the Declarations
of this bond. Any check or draft (a) made payable to a
fictitious payee and endorsed in the name of such
fictitious payee or (b) procured in a transaction
with the maker or drawer thereof or with one acting as an
agent of such maker or drawer or anyone
impersonating another and made or drawn payable to the
one so impersonated and endorsed by anyone other than the
one impersonated, shall be deemed to be forged as to such
endorsement. Mechanically reproduced facsimile signatures
are treated the same as handwritten signatures.
(F) SECURITIES
Loss sustained by the Insured, including loss sustained by
reason of a violation of the constitution by-laws, rules or
regulations of any Self Regulatory Organization of which
the Insured is a member or which would have been imposed
upon the Insured by the constitution, by-laws, rules or
regulations of any Self Regulatory Organization if the
Insured had been a member thereof,
(1)
through the Insured's having, in good faith and in the
course of business, whether for its own account or for
the account of others, in any representative, fiduciary,
agency or any other capacity, either gratuitously
or otherwise, purchased or otherwise acquired, accepted
or received, or sold or delivered, or given any value,
extended any credit or assumed any liability, on the
faith of, or otherwise acted upon, any securities,
documents or other written instruments which prove to
have been:
(a)
counterfeited, or
(b)
forged as to the signature of any maker, drawer, issuer,
endorser, assignor, lessee, transfer agent or registrar,
acceptor, surety or guarantor or as to the signature
of any person signing in any other capacity, or
(c)
raised or otherwise altered, or lost, or stolen, or
(2)
through the Insured's having, in good faith and in the course
of business, guaranteed in writing or witnessed any
signatures whether for valuable consideration or not and
whether or not such guaranteeing or witnessing is
ultra vires the Insured, upon any transfers, assignments,
bills of sale, powers of attorney, guarantees, endorsements or
other obligations upon or in connection with any securities,
documents or other written instruments and which pass or
purport to pass title to such securities, documents or other
written instruments; excluding losses caused by Forgery or
alteration of, on or in those instruments covered under
Insuring Agreement (E) hereof.
Securities, documents or other written instruments
shall be deemed to mean original (including original
counterparts) negotiable or non-negotiable
agreements which in and of themselves represent an
equitable interest, ownership, or debt, including an assignment
thereof, which instruments are, in the ordinary course of
business, transferable by delivery of such agreements with
any necessary endorsement or assignment. The word 'counterfeited'
as used in this Insuring Agreement shall be deemed to
mean any security, document or other written instrument
which is intended to deceive and to be taken for an original.
Mechanically reproduced facsimile signatures are treated
the same as handwritten signatures.
(G) COUNTERFEIT CURRENCY
Loss through the receipt by the Insured, in good faith,
of any counterfeited money orders or altered paper
currencies or coin of the United States of America
or Canada issued or purporting to have been issued by
the United States of America or Canada or issued pursuant
to a United States of America or Canada statute for use
as currency.
(H) STOP PAYMENT
Loss against any and all sums which the Insured shall become
obligated to pay by reason of the liability imposed upon the
Insured by law for damages: For having either complied with
or failed to comply with any written notice of
any customer, shareholder or subscriber of the Insured or any
Authorized Representative of such customer, shareholder or
subscriber to stop payment of any check or draft made or
drawn by such customer, shareholder or subscriber or
any Authorized Representative of such customer, shareholder
or subscriber, or
For having refused to pay any check or draft made or
drawn by any customer, shareholder or subscriber of the
Insured or any Authorized Representative of such customer,
shareholder or subscriber.
(I) UNCOLLECTIBLE ITEMS OF DEPOSIT
Loss resulting from payments of dividends or fund shares, or
withdrawals permitted from any customer's, shareholder's, or
subscriber's account based upon Uncollectible Items of Deposit
of a customer, shareholder or subscriber credited
by the Insured or the Insured's agent to such customer's,
shareholder's or subscriber's Mutual Fund Account; or loss
resulting from an Item of Deposit processed through an
Automated Clearing House which is reversed by the customer,
shareholder or subscriber and deemed uncollectible by the Insured.
Loss includes dividends and interest accrued not to exceed
15% of the Uncollectible Items which are deposited.
This Insuring Agreement applies to all Mutual Funds with
'exchange privileges' if all Fund(s) in the exchange program
are insured by the Underwriter for Uncollectible Items of
Deposit. Regardless of the number of transactions between
Fund(s), the minimum number of days of deposit within the
Fund(s) before withdrawal as declared in the Fund(s)
prospectus shall begin from the date a
deposit was first credited to any Insured Fund(s).
GENERAL AGREEMENTS
A. ADDITIONAL OFFICES OR EMPLOYEES CONSOLIDATION OR
MERGER - NOTICE
(1) If the Insured shall, while this bond is in force,
establish any additional office or offices, such offices
shall be automatically covered hereunder from the dates of
their establishment, respectively. No notice to the
Underwriter of an increase during any premium period in
the number of offices or in the number of Employees at
any of the offices covered hereunder need be given and no
additional premium need be paid for the remainder of such
premium period.
(2) If an Investment Company, named as Insured herein, shall,
while this bond is in force, merge or consolidate with, or
purchase the assets of another institution, coverage for such
acquisition shall apply automatically from the date of acquisition.
The Insured shall notify the Underwriter of such
acquisition within 60 days of said date, and an additional
premium shall be computed only if such acquisition involves
additional offices or employees.
B. WARRANTY
No statement made by or on behalf of the Insured, whether
contained in the application or otherwise, shall be deemed to be
a warranty of anything except that it is true to the best
of the knowledge and belief of the person making the statement.
C. COURT COSTS AND ATTORNEYS' FEES
(Applicable to all Insuring Agreements or Coverages now or
hereafter forming part of this bond)
The Underwriter will indemnify the Insured against court
costs and reasonable attorneys' fees incurred and paid by
the Insured in defense, whether or not successful, whether or
not fully litigated on the merits and whether or not
settled, of any suit or legal proceeding brought against the
Insured to enforce the Insured's liability or alleged liability
on account of any loss, claim or damage which, if established
against the Insured, would constitute a loss sustained by the
Insured covered under the terms of this bond provided, however,
that with respect to Insuring Agreement (A) this indemnity
shall apply only in the event that:
(1)
an Employee admits to being guilty of any dishonest or
fraudulent act(s), including Larceny or Embezzlement; or
(2)
an Employee is adjudicated to be guilty of any dishonest or
fraudulent act(s), including Larceny or Embezzlement;
(3)
in the absence of (1) or (2) above an arbitration panel
agrees, after a review of an agreed statement of facts, that
an Employee would be found guilty of dishonesty if such
Employee were prosecuted. The Insured shall promptly give
notice to the Underwriter of any such suit or legal
proceedings and at the request of the Underwriter shall
furnish it with copies of all pleadings and other papers
therein. At the Underwriter's election the Insured shall
permit the Underwriter to conduct the defense of such
suit or legal proceeding, in the Insured's name, through
attorneys of the Underwriter's selection. In such event,
the Insured shall give all reasonable information and
assistance which the Underwriter shall deem necessary to
the proper defense of such suit or legal proceeding.
If the amount of the Insured's liability or alleged liability
is greater than the amount recoverable under this bond, or
if a Deductible Amount is applicable, or both, the liability
of the Underwriter under this General Agreement is
limited to the proportion of court costs and attorneys'
fees incurred and paid by the Insured or by the Underwriter
that the amount recoverable under this bond bears to the
total of such amount plus the amount which is not so
recoverable. Such indemnity shall be in addition to the
Limit of Liability for the applicable Insuring Agreement
or Coverage.
D. FORMER EMPLOYEE
Acts of an Employee, as defined in this bond, are covered
under Insuring Agreement (A) only while the Employee is
in the Insured's employ. Should loss involving a former
Employee of the Insured be discovered subsequent to the
termination of employment, coverage would still apply
under Insuring Agreement
(A) if the direct proximate cause of the loss occurred while
the former Employee performed duties within the scope of
his/her employment.
THE FOREGOING INSURING AGREEMENTS AND GENERAL AGREEMENTS ARE
SUBJECT TO THE FOLLOWING CONDITIONS AND LIMITATIONS:
SECTION 1. DEFINITIONS (2)
any of the officers or employees of any
The following terms, as used in this bond have the
predecessor of the Insured whose principal respective
meanings stated in this Section: assets are acquired
by the Insured by
(a) "Employee" means: consolidation or merger with, or purchase
of assets or capital stock of, such predecessor,
(1) any of the Insured's officers, partners, or and
employees, and
(3)
attorneys retained by the Insured to perform legal services
for the Insured and the employees of such attorneys while such
attorneys or employees of such attorneys are performing such
services for the Insured, and
(4)
guest students pursuing their studies or duties in any of the
Insured's offices, and
(5)
directors or trustees of the Insured, the investment advisor,
underwriter (distributor), transfer agent, or shareholder
accounting record keeper, or administrator authorized by
written agreement to keep financial and/or other required
records, but only while performing acts coming within the
scope of the usual duties of an officer or employee or while
acting as a member of any committee duly elected or
appointed to examine or audit or have custody of or
access to the Property of the Insured, and
(6)
any individual or individuals assigned to perform the
usual duties of an employee within the premises of the
Insured, by contract, or by any agency furnishing temporary
personnel on a contingent or part-time basis, and
(7)
each natural person, partnership or corporation authorized
by written agreement with the Insured to perform services
as electronic data processor of checks or other accounting
records of the Insured, but excluding any such processor
who acts as transfer agent or in any other agency capacity
in issuing checks, drafts or securities for the
Insured, unless included under sub-section (9) hereof, and
(8)
those persons so designated in Section 15, Central
Handling of Securities, and
(9)
any officer, partner, or Employee of:
(a)
an investment advisor,
(b)
an underwriter (distributor),
(c)
a transfer agent or shareholder accounting record-keeper, or
(d)
an administrator authorized by written agreement to keep
financial and/or other required records, for an Investment
Company named as Insured while performing acts
coming within the scope of the usual duties of an officer or
Employee of any investment Company named as Insured herein,
or while acting as a member of any committee duly elected
or appointed to examine or audit or have custody of or
access to the Property of any such Investment Company,
provided that only Employees or partners of a transfer
agent, shareholder accounting record-keeper or
administrator which is an affiliated person, as
defined in the Investment Company Act of 1940, of an
Investment Company named as Insured or is an affiliated
person of the advisor, underwriter or administrator of
such Investment Company, and which is not a bank,
shall be included within the definition of Employee.
Each employer of temporary personnel or processors
as set forth in sub-sections (6) and (7) of Section 1(a)
and their partners, officers and employees shall
collectively be deemed to be one person for all the
purposes of this bond, excepting, however, the last
paragraph of Section 13.Brokers, or other agents under
contract or representatives of the same general
character shall not be considered Employees.
(b)
"Property" means money (i.e. currency, coin, bank
notes, Federal Reserve notes), postage and revenue
stamps, U.S. Savings Stamps, bullion, precious metals
of all kinds and in any form and articles made
therefrom, jewelry, watches, necklaces, bracelets,
gems, precious and semi-precious stones, bonds,
securities, evidences of debts, debentures, scrip,
certificates, interim receipts, warrants, rights,
puts, calls, straddles, spreads, transfers,
coupons, drafts, bills of exchange, acceptances,
notes, checks, withdrawal orders, money orders,
warehouse receipts, bills of lading, conditional sales
contracts, abstracts of title, insurance policies,
deeds, mortgages under real estate and/or chattels
and upon interests therein, and assignments of such
policies, mortgages and instruments, and other
valuable papers, including books of account and other
records used by the Insured in the conduct of its
business, and all other instruments similar to or
in the nature of the foregoing including Electronic
Representations of such instruments enumerated
above (but excluding all data processing records) in
which the Insured has an interest or in which the
Insured acquired or should have acquired an interest
by reason of a predecessor's declared financial condition
at the time of the Insured's consolidation or merger
with, or purchase of the principal assets
of, such predecessor or which are held by the Insured
for any purpose or in any capacity and whether so held
gratuitously or not and whether or not the Insured is
liable therefor.
(c)
"Forgery" means the signing of the name of another
with intent to deceive; it does not include the signing
of one's own name with or without authority, in any
capacity, for any purpose.
(d)
"Larceny and Embezzlement" as it applies to any named
Insured means those acts as set forth in Section 37
of the Investment Company Act of 1940.
(e)
"Items of Deposit" means any one or more checks and
drafts. Items of Deposit shall not be deemed uncollectible
until the Insured's collection procedures have failed.
SECTION 2. EXCLUSIONS
THIS BOND, DOES NOT COVER:
(a)
loss effected directly or indirectly by means of forgery
or alteration of, on or in any instrument, except when
covered by Insuring Agreement (A), (E), (F) or (G).
(b)
loss due to riot or civil commotion outside the United
States of America and Canada; or loss due to military,
naval or usurped power, war or insurrection unless such loss
occurs in transit in the circumstances recited in Insuring
Agreement (D), and unless, when such transit was initiated,
there was no knowledge of such riot, civil commotion, military,
naval or usurped power, war or insurrection on the part of
any person acting for the Insured in initiating
such transit.
(c)
loss, in time of peace or war, directly or indirectly caused
by or resulting from the effects of nuclear fission or
fusion or radioactivity; provided, however, that this
paragraph shall not apply to loss resulting from industrial
uses of nuclear energy.
(d)
loss resulting from any wrongful act or acts of any person
who is a member of the Board of Directors of the Insured
or a member of any equivalent body by
whatsoever name known unless such person is also an Employee
or an elected official, partial owner or partner of the Insured
in some other capacity, nor, in any event, loss resulting from
the act or acts of any person while acting
in the capacity of a member of such Board or equivalent body.
(e)
loss resulting from the complete or partial non-payment of,
or default upon, any loan or transaction in the nature of, or
amounting to, a loan made by or obtained from the Insured or any
of its partners, directors or Employees, whether authorized or
unauthorized and whether procured in good faith or through
trick, artifice fraud or false pretenses, unless such loss is
covered under Insuring Agreement (A), (E) or (F).
(f)
loss resulting from any violation by the Insured or by
any Employee:
(1)
of law regulating (a) the issuance, purchase or sale of
securities, (b) securities transactions upon Security
Exchanges or over the counter market, (c) Investment
Companies, or (d) Investment Advisors, or
(2)
of any rule or regulation made pursuant to any such law.
unless such loss, in the absence of such laws, rules
or regulations, would be covered under Insuring
Agreements (A) or (E).
(g)
loss of Property or loss of privileges through the
misplacement or loss of Property as set forth in Insuring
Agreement (C) or (D) while the Property is
in the custody of any armored motor vehicle company, unless
such loss shall be in excess of the amount recovered or
received by the Insured under (a) the Insured's contract
with said armored motor vehicle company, (b) insurance
carried by said armored motor vehicle company for the
benefit of users of its service, and (c) all other
insurance and indemnity in force in whatsoever form
carried by or for the benefit of users of said armored
motor vehicle company's service, and then this bond shall
cover only such excess.
(h)
potential income, including but not limited to interest
and dividends, not realized by the Insured because of a
loss covered under this bond, except as included under
Insuring Agreement (I).
(i)
all damages of any type for which the Insured is legally
liable, except direct compensatory damages arising from
a loss covered under this bond.
(j)
loss through the surrender of Property away from an office
of the Insured as a result of a threat:
(1) to do bodily harm to any person, except loss of Property
in transit in the custody of any person acting as messenger
provided that when such transit was initiated there was no
knowledge by the Insured of any such threat, or
(2) to do damage to the premises or Property of the Insured,
except when covered under Insuring Agreement (A).
(k)
all costs, fees and other expenses incurred by the Insured
in establishing the existence of or amount of loss covered
under this bond unless such indemnity is provided for
under Insuring Agreement (B).
(l)
loss resulting from payments made or withdrawals from the
account of a customer of the Insured, shareholder or
subscriber to shares involving funds erroneously credited
to such account, unless such payments are made to or
withdrawn by such depositors or representative of such
person, who is within the premises of the drawee bank of
the Insured or within the office of the
Insured at the time of such payment or withdrawal or
unless such payment is covered under Insuring Agreement
(A).
(m)
any loss resulting from Uncollectible Items of Deposit
which are drawn from a financial institution outside the
fifty states of the United States of America, District
of Columbia, and territories and possessions of the United
States of America, and Canada.
SECTION 3. ASSIGNMENT OF RIGHTS
This bond does not afford coverage in favor of any
Employers of temporary personnel or of processors as
set forth in sub-sections (6) and (7) of Section 1(a) of
this bond, as aforesaid, and upon payment to the Insured by the
Underwriter on account of any loss through dishonest or
fraudulent act(s) including Larceny or Embezzlement
committed by any of the partners, officers or employees of
such Employers, whether acting alone or in collusion
with others, an assignment of such of the Insured's
rights and causes of action as it may have against
such Employers by reason of such acts so committed
shall, to the extent of such payment, be given by the
Insured to the Underwriter, and the
Insured shall execute all papers necessary to secure
to the Underwriter the rights herein provided for.
SECTION 4. LOSS -NOTICE -PROOF LEGAL PROCEEDINGS
This bond is for the use and benefit only of the Insured
named in the Declarations and the Underwriter shall not be
liable hereunder for loss sustained by anyone other than the
Insured unless the Insured, in its sole discretion and at its
option, shall include such loss in the Insured's proof of
loss. At the earliest practicable moment after discovery of
any loss hereunder the Insured shall give the
Underwriter written notice thereof and shall also
within six months after such
discovery furnish to the Underwriter affirmative
proof of loss with full particulars. If claim is made
under this bond for loss of securities or shares,
the Underwriter shall not be liable unless each of such
securities or shares is identified in such proof of loss
by a certificate or bond number or, where such securities
or shares are uncertificated, by such identification means
as agreed to by the Underwriter. The Underwriter shall
have thirty days after notice and proof of loss within
which to investigate the claim, but where the loss is clear
and undisputed, settlement shall be made within forty-eight
hours; and this shall apply notwithstanding the loss is
made up wholly or in part of securities of which
duplicates may be obtained. Legal proceedings for
recovery of any loss hereunder shall not be brought
prior to the expiration of sixty days after such
proof of loss is filed with the Underwriter nor after the
expiration of twenty-four months from the discovery of
such loss, except that any action or proceedings to
recover hereunder on account of any judgment against
the Insured in any suit mentioned in General Agreement C
or to recover attorneys' fees paid in any such suit,
shall be begun within twenty-four months from the date upon
which the judgment in such suit shall become final. If
any limitation embodied in this bond is prohibited by any
law controlling the construction hereof, such limitation
shall be deemed to be amended so as to be equal to the
minimum period of limitation permitted by such law.
Discovery occurs when the Insured:
(a)
becomes aware of facts, or
(b)
receives written notice of an actual or potential claim
by a third party which alleges that the Insured is
liable under circumstances, which would cause a
reasonable person to assume that a loss covered by the bond
has been or will be incurred even though the exact
amount or details of loss may not be then known.
SECTION 5. VALUATION OF PROPERTY
The value of any Property, except books of accounts or
other records used by the Insured in the conduct of its
business, for the loss of which a claim shall be
made hereunder, shall be determined by the average market
value of such Property on the business day next preceding
the discovery of such loss; provided, however, that the
value of any Property replaced by the Insured prior to the
payment of claim therefor shall be the actual market value
at the time of replacement; and further provided that in
case of a loss or misplacement of interim certificates,
warrants, rights, or other securities, the production of
which is necessary to the exercise of subscription,
conversion, redemption or deposit privileges, the value
thereof shall be the market value of such privileges
immediately preceding the expiration thereof if said
loss or misplacement is not discovered until after their
expiration. If no market price is quoted for such Property
or for such privileges, the value shall be fixed by
agreement between the parties or by arbitration.
In case of any loss or damage to Property consisting of
books of accounts or other records used by the Insured in
the conduct of its business, the Underwriter shall be liable
under this bond only if such books or records are actually
reproduced and then for not more than the cost of blank
books, blank pages or other materials plus the cost of
labor for the actual transcription or copying of data
which shall have been furnished by the Insured in order
to reproduce such books and other records.
SECTION 6. VALUATION OF PREMISES AND FURNISHINGS
In case of damage to any office of the Insured, or loss
of or damage to the furnishings, fixtures, stationery,
supplies, equipment, safes or vaults therein, the
Underwriter shall not be liable for more than the
actual cash value thereof, or for more than the actual
cost of their replacement or repair. The Underwriter
may, at its election, pay such actual cash value or
make such replacement or repair. If the underwriter
and the Insured cannot agree upon such cash value or
such cost of replacement or repair, such shall be
determined by arbitration.
SECTION 7. LOST SECURITIES
If the Insured shall sustain a loss of securities the
total value of which is in excess of the limit stated
in Item 3 of the Declarations of this bond, the
liability of the Underwriter shall be limited to
payment for, or duplication of, securities having
value equal to the limit stated in Item 3 of the
Declarations of this bond.
If the Underwriter shall make payment to the
Insured for any loss of securities, the Insured
shall thereupon assign to the Underwriter all of
the Insured's rights, title and interest in and
to said securities. With respect to securities
the value of which do not exceed the Deductible
Amount (at the time of the discovery of the loss)
and for which the Underwriter may at its sole
discretion and option and at the request of
the Insured issue a Lost Instrument Bond or
Bonds to effect replacement thereof, the Insured
will pay the usual premium charged therefor and
will indemnify the Underwriter against all loss or
expense that the Underwriter may sustain because of the
issuance of such Lost Instrument Bond or Bonds.
With respect to securities the value of which exceeds
the Deductible Amount (at the time of discovery of the
loss) and for which the Underwriter may issue or
arrange for the issuance of a Lost Instrument Bond
or Bonds to effect replacement thereof, the Insured
agrees that it will pay as premium therefor a
proportion of the usual premium charged therefor,
said proportion being equal to the percentage that
the Deductible Amount bears to the value of the
securities upon discovery of the loss, and that
it will indemnify the issuer of said Lost
Instrument Bond or Bonds against all loss and
expense that is not recoverable from the Underwriter
under the terms and conditions of this Investment
Company Blanket Bond subject to the Limit of
Liability hereunder.
SECTION 8. SALVAGE
In case of recovery, whether made by the Insured or
by the Underwriter, on account of any loss in excess
of the Limit of Liability hereunder plus the
Deductible Amount applicable to such loss, from any
source other than suretyship, insurance, reinsurance,
security or indemnity taken by or for the
benefit of the Underwriter, the net amount of such
recovery, less the actual costs and expenses of making
same, shall be applied to reimburse the Insured in
full for the excess portion of such loss, and the
remainder, if any, shall be paid first in reimbursement
of the Underwriter and thereafter in reimbursement
of the Insured for that part of such loss within the
Deductible Amount. The Insured shall execute all
necessary papers to secure to the Underwriter the
rights provided for herein.
SECTION 9. NON-REDUCTION AND NONACCUMULATION OF
LIABILITY AND TOTAL LIABILITY
At all times prior to termination hereof, this bond shall
continue in force for the limit stated in the applicable
sections of Item 3 of the Declarations of
this bond notwithstanding any previous loss for which the
Underwriter may have paid or be liable to pay hereunder;
PROVIDED, however, that regardless of the
number of years this bond shall continue in force and the
number or premiums which shall be payable or paid, the
liability of the Underwriter under this bond with respect
to all loss resulting from:
(a)
any one act of burglary, robbery or holdup, or attempt
thereat, in which no Partner or Employee is concerned or
implicated shall be deemed to be one loss, or
(b)
any one unintentional or negligent act on the part
of any other person
resulting in damage to or destruction or misplacement
of Property, shall be deemed to be one loss, or
(c)
all wrongful acts, other than those specified in (a)
above, of any one person shall be deemed to be one loss,
or
(d)
all wrongful acts, other than those specified in (a) above,
of one or more persons (which dishonest act(s) or act(s) of
Larceny or Embezzlement include, but are not limited to,
the failure of an Employee to report such acts of
others) whose dishonest act or acts intentionally or
unintentionally, knowingly or unknowingly, directly or
indirectly, aid or aids in any way, or permits the
continuation of, the dishonest act or acts of any other
person or persons shall be deemed to be one loss with
the act or acts of the persons aided, or
(e)
any one casualty or event other than those specified
in (a), (b), (c) or (d) preceding, shall be deemed to
be one loss, and shall be limited to the applicable Limit of
Liability stated in Item 3 of the Declarations of this bond
irrespective of the total amount of such loss or
losses and shall not be cumulative in amounts from year to
year or from period to period. Sub-section (c) is not
applicable to any situation to which the language of
sub-section (d) applies.
SECTION 10. LIMIT OF LIABILITY
With respect to any loss set forth in the PROVIDED clause of
Section 9 of this bond which is recoverable or recovered
in whole or in part under any other bonds
or policies issued by the Underwriter to the Insured or to
any predecessor in interest of the Insured and terminated or
cancelled or allowed to expire and in which the period of
discovery has not expired at the time any such loss
thereunder is discovered, the total liability of the
Underwriter under this bond and under other bonds or policies
shall not exceed, in the aggregate, the amount carried
hereunder on such loss or the amount available to the Insured
under such other bonds or policies, as limited by the terms
and conditions thereof, for any such loss if the latter
amount be the larger.
SECTION 11. OTHER INSURANCE
If the Insured shall hold, as indemnity against any loss
covered hereunder, any valid and enforceable insurance or
suretyship, the Underwriter shall be liable hereunder only
for such amount of such loss which is in excess of the amount of
such other insurance or suretyship, not exceeding, however,
the Limit of Liability of this bond applicable to such loss.
SECTION 12. DEDUCTIBLE
The Underwriter shall not be liable under any of the
Insuring Agreements of this bond on account of loss
as specified, respectively, in sub-sections (a), (b),
(c), (d) and (e) of Section 9, NON-REDUCTION AND
NON-ACCUMULATION OF LIABILITY AND TOTAL LIABILITY,
unless the amount of such loss, after deducting the net amount
of all reimbursement and/or recovery obtained or made
by the Insured, other than from any bond or policy
of insurance issued by an insurance company and
covering such loss, or by the Underwriter on account
thereof prior to payment by the Underwriter of such
loss, shall exceed the Deductible Amount set forth in Item 3
of the Declarations hereof (herein called Deductible
Amount), and then for such excess only, but in no
event for more than the applicable Limit of Liability
stated in Item 3 of the Declarations. The Insured will
bear, in addition to the Deductible Amount, premiums on Lost
Instrument Bonds as set forth in Section 7. There shall
be no deductible applicable to any loss under Insuring
Agreement A sustained by any Investment Company named
as Insured herein.
SECTION 13. TERMINATION
The Underwriter may terminate this bond as an entirety
by furnishing written notice specifying the termination
date, which cannot be prior to 60 days after the receipt
of such written notice by each Investment Company named
as Insured and the Securities and Exchange Commission,
Washington, D.C. The Insured may terminate this bond
as an entirety by furnishing written notice to the
Underwriter. When the Insured cancels, the Insured shall
furnish written notice to the Securities and Exchange
Commission, Washington, D.C., prior to 60 days before
the effective date of the termination. The Underwriter
shall notify all other Investment Companies named as
Insured of the receipt of such termination notice and
the termination cannot be effective prior to 60 days
after receipt of written notice by all other Investment
Companies. Premiums are earned until the termination
date as set forth herein. This Bond will terminate
as to any one Insured immediately upon taking over of
such Insured by a receiver or other liquidator or by
State or Federal officials, or immediately upon the
filing of a petition under any State or Federal statute
relative to bankruptcy or reorganization of the Insured,
or assignment for the benefit of creditors of the Insured,
or immediately upon such Insured ceasing to
exist, whether through merger into another entity, or
by disposition of all of its assets. The Underwriter
shall refund the unearned premium computed at short
rates in accordance with the standard short rate
cancellation tables if terminated by the Insured
or pro rata if terminated for any other reason.
This Bond shall terminate:
(a)
as to any Employee as soon as any partner,
officer or supervisory Employee of the Insured,
who is not in collusion with such Employee, shall
learn of any dishonest or fraudulent act(s), including
Larceny or Embezzlement on the part of such Employee
without prejudice to the loss of any Property then in transit
in the custody of such Employee (see Section 16(d)), or
(b)
as to any Employee 60 days after receipt by each Insured
and by the Securities and Exchange Commission of a written
notice from the Underwriter of its desire to terminate
this bond as to such Employee, or
(c)
as to any person, who is a partner, officer or employee of
any Electronic Data Processor covered under this bond,
from and after the time that the Insured or any partner
or officer thereof not in collusion with such person shall have
knowledge or information that such person has committed
any dishonest or fraudulent act(s), including Larceny
or Embezzlement in the service of the Insured or
otherwise, whether such act be committed before or
after the time this bond is effective.
SECTION 14. RIGHTS AFTER TERMINATION OR CANCELLATION
At any time prior to the termination or cancellation
of this bond as an entirety, whether by the Insured or
the Underwriter, the Insured may give the Underwriter notice
that it desires under this bond an additional period of 12
months within which to discover loss sustained by the
Insured prior to the effective date of such termination
or cancellation and shall pay an additional premium therefor.
Upon receipt of such notice from the Insured, the
Underwriter shall give its written consent thereto;
provided, however, that such additional period of time
shall terminate immediately:
(a) on the effective date of any other insurance
obtained by the Insured, its successor in business or
any other party, replacing in whole or in part the
insurance afforded by this bond, whether or not such
other insurance provides coverage for loss sustained
prior to its effective date, or
(b) upon takeover of the Insured's business by any State
or Federal official or agency, or by any receiver or
liquidator, acting or appointed for this purpose
without the necessity of the Underwriter giving notice
of such termination. In the event that such additional
period of time is terminated, as provided above,
the Underwriter shall refund any unearned premium.
The right to purchase such additional period for the
discovery of loss may not be exercised by any State or
Federal official or agency, or by a receiver or
liquidator, acting or appointed to take over the Insured's
business for the operation or for the liquidation
thereof or for any purpose.
SECTION 15. CENTRAL HANDLING OF SECURITIES
Securities included in the system for the central handling
of securities established and maintained by Depository
Trust Company, Midwest Depository Trust Company, Pacific
Securities Depository Trust Company, and Philadelphia
Depository Trust Company, hereinafter called Corporations,
to the extent of the Insured's interest therein as
effected by the making of appropriate entries on
the books and records of such Corporations shall be
deemed to be Property. The words "Employee" and 'Employees"
shall be deemed to include the officers, partners,
clerks and other employees of the New York Stock
Exchange, Boston Stock Exchange, Midwest Stock Exchange,
Pacific Stock Exchange and Philadelphia Stock Exchange,
hereinafter called Exchanges, and of the above named
Corporations, and of any nominee in whose name is
registered any security included within the systems for
the central handling of securities established and
maintained by such Corporations, and any employee
or any recognized service company, while such officers,
partners, clerks and other employees and employees
of service companies perform services for such
Corporations in the operation of such systems. For
the purpose of the above definition a recognized service
company shall be any company providing clerks or other
personnel to the said Exchanges or Corporations on a
contract basis. The Underwriter shall not be liable on
account of any loss(es) in connection with the central
handling of securities within the systems established and
maintained by such Corporations, unless such loss(es)
shall be in excess of the amount(s) recoverable or
recovered under any bond or policy of insurance
indemnifying such Corporations against such loss(es),
and then the Underwriter shall be liable hereunder only
for the Insured's share of such excess loss(es), but in
no event for more than the Limit of Liability applicable
hereunder.
For the purpose of determining the Insured's share of
excess loss(es) it shall be deemed that the Insured has
an interest in any certificate representing any
security included within such systems equivalent to the
interest the Insured then has in all certificates
representing the same security included within such
systems and that such Corporations shall use their
best judgment in apportioning the amount(s) recoverable
or recovered under any bond or policy of insurance
indemnifying such Corporations against such loss(es) in
connection with the central handling of securities within
such systems among all those having an interest as recorded
by appropriate entries in the books and records of such
Corporations in Property involved in such loss(es) on the
basis that each such interest shall share in the amount(s)
so recoverable or recovered in the ratio that the value of
each such interest bears to the total value all such interests
and that the Insured's share of such excess loss(es) shall
be the amount of the Insured's interest in such Property
in excess of the amount(s) so apportioned to the Insured by
such Corporations. This bond does not afford coverage in
favor of such Corporations or Exchanges or any nominee
in whose name is registered any security included within
the systems for the central handling of securities
established and maintained by such Corporations, and
upon payment to the Insured by the Underwriter on
account of any loss(es) within the systems, an assignment
of such of the Insured's rights and causes of action as
it may have against such Corporations or Exchanges shall
to the extent of such payment, be given by the Insured
to the Underwriter, and the Insured shall execute all
papers necessary to secure the Underwriter the rights
provided for herein.
SECTION 16. ADDITIONAL COMPANIES INCLUDED AS INSURED
If more than one corporation, co-partnership or person or
any combination of them be included as the Insured herein:
(a)
the total liability of the Underwriter hereunder for loss
or losses sustained by any one or more or all of them shall
not exceed the limit for which the Underwriter would be
liable hereunder if all such loss were sustained by any
one of them;
(b)
the one first named herein shall be deemed authorized to
make, adjust and receive and enforce payment of all
claims hereunder and shall be deemed to be
the agent of the others for such purposes and for the
giving or receiving of any notice required or permitted
to be given by the terms hereof, provided that the
Underwriter shall furnish each named Investment Company
with a copy of the bond and with any amendment thereto,
together with a copy of each formal filing of the
settlement of each such claim prior to the execution of
such settlement;
(c)
the Underwriter shall not be responsible for the proper
application of any payment made hereunder to said first
named Insured;
(d)
knowledge possessed or discovery made by any partner,
officer of supervisory Employee of any Insured shall for
the purposes of Section 4 and Section 13 of
this bond constitute knowledge or discovery by all the
Insured; and
(e)
if the first named Insured ceases for any reason to be
covered under this bond, then the Insured next named
shall thereafter be considered as the first,
named Insured for the purposes of this bond.
SECTION 17. NOTICE AND CHANGE OF CONTROL
Upon the Insured obtaining knowledge of a transfer of its
outstanding voting securities which results in a change in
control (as set forth in Section 2(a) (9) of the Investment
Company Act of 1940) of the Insured, the Insured shall
within thirty (30) days of such knowledge give written notice
to the Underwriter setting forth:
(a)
the names of the transferors and transferees (or the
names of the beneficial owners if the voting securities
are requested in another name), and
(b)
the total number of voting securities owned by the
transferors and the transferees (or the beneficial
owners), both immediately before and after the
transfer, and
(c)
the total number of outstanding voting securities.
As used in this section, control means the power to
exercise a controlling influence over the management
or policies of the Insured. Failing to give the required
notice shall result in termination of coverage of
this bond, effective upon the date of stock transfer for
any loss in which any transferee is concerned or implicated.
Such notice is not required to be given in the case of an
Insured which is an Investment Company.
SECTION 18. CHANGE OR MODIFICATION
This bond or any instrument amending or effecting same
may not be changed or modified orally. No changes in or
modification thereof shall be effective unless made by
written endorsement issued to form a part hereof over
the signature of the Underwriter's Authorized Representative.
When a bond covers only one Investment Company no change or
modification which would adversely affect the rights of the
Investment Company shall be effective prior to 60 days after
written notification has been furnished to the Securities and
Exchange Commission, Washington, D.C., by the Insured or by the
Underwriter. If more than one Investment Company is named as
the Insured herein, the Underwriter shall give written notice
to each Investment Company and to the Securities and Exchange
Commission, Washington, D.C., not less than 60 days prior to
the effective date of any change or modification
which would adversely affect the rights of such Investment
Company.
ENDORSEMENT OR RIDER THIS ENDORSEMENT CHANGES THE POLICY.
PLEASE READ IT CAREFULLY.
The following spaces proceeded by an (*) need not be
completed if this endorsement or rider and the Bond or
Policy have the same inception date.
Attached to and Forming Part Date Endorsement or Rider
* Effective Date of Endorsement or Rider of Bond Or
Policy No. Executed 12:01 A.M. Standard Time as
Specified in the Bond or Policy
490PB2851 03/01/2011
*ISSUED TO
JPMORGAN FUNDS
Named Insured Endorsement
It is agreed that:
1. From and after the time this rider becomes effective
the Insured under the attached bond are:
JPMorgan Trust I including:
Highbridge Dynamic Commodities Strategy Fund
Highbridge Statistical Market Neutral Fund
JPMorgan 100% U.S. Treasury Securities Money Market Fund
JPMorgan Access Balanced Fund
JPMorgan Access Growth Fund
JPMorgan Alternative Strategies Fund
JPMorgan Asia Equity Fund
JPMorgan California Municipal Money Market Fund
JPMorgan California Tax Free Bond Fund
JPMorgan China Region Fund
JPMorgan Credit Opportunities Credit Fund
JPMorgan Current Yield Money Market Fund
JPMorgan Disciplined Equity Fund
JPMorgan Diversified Fund
JPMorgan Dynamic Growth Fund
JPMorgan Dynamic Small Cap Growth Fund
JPMorgan Emerging Economies Fund
JPMorgan Emerging Markets Debt Fund
JPMorgan Emerging Markets Equity Fund
JPMorgan Federal Money Market Fund
JPMorgan Global Focus Fund
JPMorgan Global Natural Resources Fund
JPMorgan Growth and Income Fund
JPMorgan Growth Long/Short Fund
JPMorgan Income Builder Fund
JPMorgan India Fund
JPMorgan Inflation Managed Bond Fund
JPMorgan Intermediate Tax Free Bond Fund
JPMorgan International Currency Income Fund
JPMorgan International Equity Fund
JPMorgan International Opportunities Fund
JPMorgan International Opportunities Plus Fund
JPMorgan International Realty Fund
JPMorgan International Value Fund
JPMorgan International Value SMA Fund
JPMorgan Intrepid America Fund
JPMorgan Intrepid European Fund
JPMorgan Intrepid Growth Fund
JPMorgan Intrepid International Fund
JPMorgan Intrepid Multi Cap Fund
JPMorgan Intrepid Value Fund
JPMorgan Latin America Fund
JPMorgan Managed Income Fund
JPMorgan Mid Cap Core Fund
JPMorgan Mid Cap Equity Fund
JPMorgan Multi-Cap Long/Short Fund
JPMorgan Multi-Sector Income Fund
JPMorgan New York Municipal Money Market Fund
JPMorgan New York Tax Free Bond Fund
JPMorgan Prime Money Market Fund
JPMorgan Real Return Fund
JPMorgan Research Equity Long/Short Fund
JPMorgan Research Market Neutral Fund
JPMorgan Russia Fund
JPMorgan Small Cap Core Fund
JPMorgan Small Cap Equity Fund
JPMorgan SmartRetirement 2010 Fund
JPMorgan SmartRetirement 2015 Fund
JPMorgan SmartRetirement 2020 Fund
JPMorgan SmartRetirement 2025 Fund
JPMorgan SmartRetirement 2030 Fund
JPMorgan SmartRetirement 2035 Fund
JPMorgan SmartRetirement 2040 Fund
JPMorgan SmartRetirement 2045 Fund
JPMorgan SmartRetirement 2050 Fund
JPMorgan SmartRetirement Income Fund
JPMorgan Strategic Income Opportunities Fund
JPMorgan Strategic Preservation Fund
JPMorgan Tax Aware Equity Fund
JPMorgan Tax Aware High Income Fund
JPMorgan Tax Aware Real Return Fund
JPMorgan Tax Aware Real Return SMA Fund
JPMorgan Tax Aware U.S. Equity Fund
JPMorgan Total Return Fund
JPMorgan U.S. Dynamic Plus Fund
JPMorgan U.S. Equity Fund
JPMorgan U.S Large Cap Core Plus Fund
JPMorgan U.S. Large Cap Value Plus Fund
JPMorgan U.S. Research Equity Plus Fund
JPMorgan U.S. Small Company Fund
JPMorgan Value Advantage Fund
JPMorgan Value Discovery Fund
JPMorgan Trust II including:
JPMorgan Arizona Municipal Bond Fund
JPMorgan Core Bond Fund
JPMorgan Core Plus Bond Fund
JPMorgan Mid Cap Growth Fund
JPMorgan Equity Income Fund
JPMorgan Equity Index Fund
JPMorgan Government Bond Fund
JPMorgan High Yield Fund
JPMorgan International Equity Index Fund
JPMorgan Intrepid Mid Cap Fund
JPMorgan Investor Balanced Fund
JPMorgan Investor Conservative Growth Fund
JPMorgan Investor Growth & Income Fund
JPMorgan Investor Growth Fund
JPMorgan Large Cap Growth Fund
JPMorgan Large Cap Value Fund
JPMorgan Liquid Assets Money Market Fund
JPMorgan Market Expansion Index Fund
JPMorgan Michigan Municipal Bond Fund
JPMorgan Michigan Municipal Money Market Fund
JPMorgan Mortgage-Backed Securities Fund
JPMorgan Multi-Cap Market Neutral Fund
JPMorgan Municipal Income Fund
JPMorgan Municipal Money Market Fund
JPMorgan Ohio Municipal Bond Fund
JPMorgan Ohio Municipal Money Market Fund
JPMorgan Short Duration Bond Fund
JPMorgan Short- Intermediate Municipal Bond Fund
JPMorgan Small Cap Growth Fund
JPMorgan Small Cap Value Fund
JPMorgan Tax Free Bond Fund
JPMorgan Treasury & Agency Fund
JPMorgan U.S. Government Money Market Fund
JPMorgan U.S. Real Estate Fund
JPMorgan U.S. Treasury Plus Money Market Fund
JPMorgan Limited Duration Bond Fund
Undiscovered Managers Funds including:
JPMorgan Realty Income Fund
Undiscovered Managers Behavioral Growth Fund
Undiscovered Managers Behavioral Value Fund
J.P. Morgan Mutual Fund Group including:
JPMorgan Short Term Bond Fund II
J.P. Morgan Fleming Mutual Fund Group, Inc. including:
JPMorgan Mid Cap Value Fund
J.P. Morgan Mutual Fund Investment Trust including:
JPMorgan Growth Advantage Fund
JPMorgan Insurance Trust including:
JPMorgan Insurance Trust Core Bond Portfolio
JPMorgan Insurance Trust Mid Cap Growth Portfolio
JPMorgan Insurance Mid Cap Value Portfolio
JPMorgan Insurance Trust Equity Index Portfolio
JPMorgan Insurance Trust International Equity Portfolio
JPMorgan Insurance Trust Intrepid Growth Portfolio
JPMorgan Insurance Trust Intrepid Mid Cap Portfolio
JPMorgan Insurance Trust Small Cap Core Portfolio
JPMorgan Insurance Trust U.S. Equity Portfolio
JPMorgan Institutional Trust including:
JPMorgan Core Bond Trust
JPMorgan Equity Index Trust
JPMorgan Intermediate Bond Trust
Pacholder High Yield Fund, Inc. including:
Pacholder High Yield Fund, Inc.
J.P. Morgan Access Multi-Strategy Fund, L.L.C. including:
J.P. Morgan Access Multi-Strategy Fund, L.L.C.
The first named Insured shall act for itself and
for each and all of the Insured for all the
purposes of the attached bond. Knowledge possessed
or discovery made by any Insured or by any partner or
officer thereof shall for all the purposes of the
attached bond constitute knowledge or discovery by
all the Insured. If, prior to the termination of the
attached bond in its entirety, the attached bond is
terminated as to any Insured, there shall be no
liability for any loss sustained by such Insured
unless discovered before the time such
termination as to such Insured becomes effective.
The liability of the Underwriter for loss or losses
sustained by any or all of the Insured shall not
exceed the amount for which the Underwriter would be
Liable had all such loss or losses been sustained by
any one of the Insured. Payment by the Underwriter to
the first named Insured of loss sustained by any
Insured shall fully release the Underwriter on
account of such loss. If the first named Insured ceases
for any reason to be covered under the
attached bond, then the Insured next named shall
thereafter be considered as the first named Insured
for all the purposes of the attached bond.
Nothing herein contained shall be held to vary,
alter, waive, or extend any of the terms, conditions,
provisions, agreements or limitations of the above
mentioned Bond or Policy, other than as above stated.
Authorized Representative
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT
CAREFULLY. The following spaces preceded by an (*)
need not be completed if this endorsement or rider
and the Bond or Policy have the same inception date.
490PB2851 ATTACHED TO AND FORMING PART OF BOND
OR POLICY NO. 03/22/11 DATE ENDORSEMENT OR RIDER
EXECUTED 03/01/11 * EFFECTIVE DATE OF ENDORSEMENT OR
RIDER 12:01 A.M. LOCAL TIME AS SPECIFIED IN THE BOND OR POLICY
* ISSUED TO
JPMORGAN FUNDS
COMPUTER SYSTEMS
It is agreed that:
1. The attached bond is amended by adding an additional Insuring
Agreement as follows:
INSURING AGREEMENT K COMPUTER SYSTEMS
Loss resulting directly from a fraudulent
(1)
entry of data into, or
(2)
change of data elements or program within, a Computer
System listed in the SCHEDULE below, provided the
fraudulent entry or change causes Property to be
transferred, paid or delivered,
(b)
an account of the Insured, or of its customer, to be added,
deleted, debited or credited, or
(c)
an unauthorized account or a fictitious account to be
debited or credited, and provided further, the fraudulent entry
or change is made or caused by an individual acting with the
manifest intent to cause the Insured to sustain a loss, and
(ii)
obtain financial benefit for that individual or for other
persons intended by that individual to receive financial benefit.
SCHEDULE
2. As used in this Rider, Computer System means
(a)
computers with related peripheral components, including
storage components, wherever located, systems and applications
software, terminal devices, and related communication networks
by which data are electronically collected, transmitted,
processed, stored and retrieved.
3. In addition to the exclusions in the attached bond, the
following exclusions are applicable to the Computer
Systems Insuring Agreement:
(a)
loss resulting directly or indirectly from the theft
of confidential information, material or data; and
(b)
loss resulting directly or indirectly from entries or
changes made by an individual authorized to have access to
a Computer System who acts in good faith on instructions,
unless such instructions are given to that individual
by a software contractor (or by a partner, officer or
employee thereof) authorized by
the Insured to design, develop, prepare, supply, service,
write or implement programs for the Insured's Computer
System; and
(c)
loss discovered by the Insured before this Rider is
executed or after coverage under this Rider terminates.
4. Solely with respect to the Computer Systems Insuring
Agreement, the following replaces SECTION 9,
NONREDUCTION AND NON-ACCUMULATION OF LIABILITY AND TOTAL
LIABILITY, (a) - (e), of the CONDITIONS AND LIMITATIONS:
(a)
all fraudulent activity of any one person, or in which
any one person is implicated, whether or not that person
is specifically identified, shall be deemed to be one
loss, or
(b)
a series of losses involving unidentified persons but
arising from the same method of operation shall be deemed
to be one loss, and
5. The following is added to the OPTIONAL COVERAGE ADDED
BY RIDER section of Item 3. of the DECLARATIONS:
Limit of Liability Deductible Amount Insuring Agreement
K Computer Systems $14,350,000 $25,000
6. The following is added to the CONDITIONS AND
LIMITATIONS:
If any loss is covered under the Computer Systems Insuring
Agreement and any other Insuring Agreement or Coverage,
the maximum amount payable for such loss shall not
exceed the largest amount available under any one such
Insuring Agreement or Coverage.
7. The following is added to SECTION 13. TERMINATION of
the CONDITIONS AND LIMITATIONS:
Coverage under this Rider may also be terminated or
canceled without canceling the bond as an entirety
(a)
60 days after receipt by the Insured of written
notice from the Underwriter of its desire to terminate or
cancel coverage under this Rider, or
(b)
immediately upon receipt by the Underwriter of a written
request from the Insured to terminate or cancel coverage
under this Rider. The Underwriter shall refund to the
Insured the unearned premium for the coverage under this
Rider. The refund shall be computed at short rates if this
Rider be terminated or canceled or reduced by notice from,
or at the instance of, the Insured. Nothing herein
contained shall be held to vary, alter, waive, or
extend any of the terms, conditions, provisions, agreements
or limitations of the above mentioned Bond or Policy,
other than as above stated.
Authorized Representative
INSURED
ENDORSEMENT OR RIDER NO. THIS ENDORSEMENT CHANGES THE POLICY.
PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be completed
if this endorsement or rider and the Bond or Policy have the
same inception date. The hard copy of the bond issued by the
Underwriter will be referenced in the event of a loss.
ATTACHED TO AND FORMING PART OF DATE ENDORSEMENT * EFFECTIVE
DATE OF ENDORSEMENT OR RIDER BOND OR POLICY NO. OR RIDER
EXECUTED 12:01 A.M. STANDARD TIME AS SPECIFIED IN THE
BOND OR POLICY 490PB2851 03/22/11 03/01/11
* ISSUED TO
JPMORGAN FUNDS
UNAUTHORIZED SIGNATURES
It is agreed that:
1. The attached bond is amended by inserting an additional
Insuring Agreement as follows:
INSURING AGREEMENT J UNAUTHORIZED SIGNATURE
(A)
Loss resulting directly from the Insured having accepted,
paid or cashed any check or withdrawal order, draft, made
or drawn on a customer's account which bears the signature
or endorsement of one other than a person whose name and
signature is on the application on file with the Insured
as a signatory on such account.
(B)
It shall be a condition precedent to the Insured's right
of recovery under this Rider that the Insured shall have
on file signatures of all persons who are authorized
signatories on such account.
2. The total liability of the Underwriter under Insuring
Agreement J is limited to the sum of Fifty Thousand
Dollars ($50,000 ), it being understood, however, that
such liability shall be part of and not in addition to
the Limit of Liability stated in Item 3 of the Declarations
of the attached bond or amendment thereof.
3. With respect to coverage afforded under this
Rider, the Deductible Amount shall be Five Thousand
Dollars ($5,000 ). Nothing herein contained shall be
held to vary, alter, waive, or extend any of
the terms, conditions, provisions, agreements or
limitations of the above mentioned Bond or Policy,
other than as above stated.
Authorized Representative
INSURED
ENDORSEMENT OR RIDER NO. THIS ENDORSEMENT CHANGES THE
POLICY. PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be completed
if this endorsement or rider and the Bond or Policy have the
same inception date. The hard copy of the bond issued by the
Underwriter will be referenced in the event of a loss.
ATTACHED TO AND FORMING PART OF DATE ENDORSEMENT *
EFFECTIVE DATE OF ENDORSEMENT OR RIDER
BOND OR POLICY NO. OR RIDER EXECUTED 12:01 A.M.
STANDARD TIME AS SPECIFIED IN THE BOND OR POLICY
490PB2851 03/22/11 03/01/11
* ISSUED TO
JPMORGAN FUNDS
TELEFACSIMILE TRANSACTIONS
It is agreed that:
1. The attached Bond is amended by adding an additional
Insuring Agreement as follows:
INSURING AGREEMENT M TELEFACSIMILE TRANSACTIONS
Loss caused by a Telefacsimile Transaction, where the
request for such Telefacsimile Transaction is unauthorized
or fraudulent and is made with the manifest intent to
deceive; provided, that the entity which receives such
request generally maintains and follows during the Bond
Period all Designated Fax Procedures with respect to
Telefacsimile Transactions. The isolated failure
of such entity to maintain and follow a particular
Designated Fax Procedure in a particular instance will not
preclude coverage under this Insuring Agreement,
subject to the exclusions herein and in the Bond.
2. Definitions. The following terms used in this
Insuring Agreement shall have the following meanings:
a. "Telefacsimile System" means a system of
transmitting and reproducing fixed graphic material
(as, for example, printing) by means of signals
transmitted over telephone lines.
b. "Telefacsimile Transaction" means any Fax
Redemption, Fax Election, Fax Exchange, or Fax Purchase.
c. "Fax Redemption" means any redemption of shares
issued by an Investment Company which is requested through
a Telefacsimile System.
d. "Fax Election" means any election concerning
dividend options available to Fund shareholders which is
requested through a Telefacsimile System.
e. "Fax Exchange" means any exchange of shares in a
registered account of one Fund into shares in an identically
registered account of another Fund in the same complex
pursuant to exchange privileges of the two Funds, which
exchange is requested through a Telefacsimile System.
f. "Fax Purchase" means any purchase of shares
issued by an Investment Company which is requested through a
Telefacsimile System.
g. "Designated Fax Procedures" means the following
procedures:
(1) Retention: All Telefacsimile Transaction requests
shall be retained for at least six (6) months. Requests shall
be capable of being retrieved and produced in legible form
within a reasonable time after retrieval is requested.
(2) Identity Test: The identity of the sender in
any request for a Telefacsimile Transaction shall be tested
before executing that Telefacsimile Transaction, either by
requiring the sender to include on the face of the request
a unique identification number or to include key
specific account information. Requests of Dealers must be
on company letterhead and be signed by an authorized
representative. Transactions by occasional users are to
be verified by telephone confirmation.
(3)
Contents: A Telefacsimile Transaction shall not be executed
unless the request for such Telefacsimile Transaction is
dated and purports to have been signed by (a) any shareholder
or subscriber to shares issued by a Fund, or (b) any
financial or banking institution or stockbroker.
(4)
Written Confirmation: A written confirmation of each
Telefacsimile Transaction shall be sent to the shareholder(s)
to whose account such Telefacsimile Transaction relates,
at the record address, by the end of the Insured's next
regular processing cycle, but no later than five (5) business
days following such Telefacsimile Transaction.
i.
"Designated" means or refers to a written designation
signed by a shareholder of record of a Fund, either in such
shareholder's initial application for the purchase of Fund
shares, with or without a Signature Guarantee, or in another
document with a Signature Guarantee.
j.
"Signature Guarantee" means a written guarantee of a
signature, which guarantee is made by an Eligible Guarantor
Institution as defined in Rule 17Ad-15(a)(2) under the
Securities Exchange Act of 1934.
3. Exclusions. It is further understood and agreed that
this Insuring Agreement shall not cover:
a.
Any loss covered under Insuring Agreement A, "Fidelity,"
of this Bond; and
b.
Any loss resulting from:
(1)
Any Fax Redemption, where the proceeds of such redemption
were requested to be paid or made payable to other than (a)
the shareholder of record, or (b) a person Designated in
the initial application or in writing at least one (1) day
prior to such redemption to receive redemption proceeds, or
(c) a bank account Designated in the initial application or
in writing at least one (1) day prior to such redemption to
receive redemption proceeds;
or
(2)
Any Fax Redemption of Fund shares which had been improperly
credited to a shareholder's account, where such shareholder
(a) did not cause, directly or indirectly, such shares to be
credited to such account, and (b) directly or indirectly
received any proceeds or other benefit from such redemption; or
(3)
Any Fax Redemption from any account, where the proceeds of
such redemption were requested to be sent to any address other
than the record address or another address for such account
which was designated (a) over the telephone or by telefacsimile
at least fifteen (15) days prior to such redemption, or (b)
in the initial application or in writing at least one (1) day
prior to such redemption; or
(4)
The intentional failure to adhere to one or more Designated Fax
Procedures; or
(5)
The failure to pay for shares attempted to be purchased.
4. The Single Loss Limit of Liability under Insuring Agreement
M is limited to the sum of Fourteen Million Three Hundred Fifty
Thousand Dollars ($14,350,000 ) it being understood, however,
that such liability shall be part of and not in addition to the
Limit of Liability stated in Item 3 of the Declarations of the
attached Bond or amendments thereof.
5. With respect to coverage afforded under this Rider the
applicable Single loss Deductible Amount is Twenty Five Thousand
Dollars ($25,000 ). Nothing herein contained shall be held to
vary, alter, waive, or extend any of the terms, conditions,
provisions, agreements or limitations of the above
mentioned Bond or Policy, other than as above stated.
Authorized Representative
INSURED ENDORSEMENT OR RIDER NO. THIS ENDORSEMENT CHANGES THE
POLICY. PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be completed
if this endorsement or rider and the Bond or Policy have the same
inception date. The hard copy of the bond issued by the
Underwriter will be referenced in the event of a loss.
ATTACHED TO AND FORMING PART OF DATE ENDORSEMENT *
EFFECTIVE DATE OF ENDORSEMENT OR RIDER BOND OR
POLICY NO. OR RIDER
EXECUTED 12:01 A.M. STANDARD TIME AS
SPECIFIED IN THE BOND OR POLICY
490PB2851 03/22/11 03/01/11
* ISSUED TO
JPMORGAN FUNDS
VOICE INITIATED TRANSACTIONS
It is agreed that:
1. The attached bond is amended by inserting an additional
Insuring Agreement as
follows:
INSURING AGREEMENT L -VOICE-INITIATED TRANSACTIONS
Loss caused by a Voice-initiated Transaction, where the
request for such Voice-initiated Transaction is unauthorized
or fraudulent and is made with the manifest intent to
deceive; provided, that the entity which receives such
request generally maintains and follows during the Bond
Period all Designated Procedures with respect to
Voice-initiated Redemptions and the Designated Procedures
described in paragraph 2f (1) and (3) of this Rider with
respect to all other Voice-initiated Transactions. The
isolated failure of such entity to maintain and follow a
particular Designated Procedure in a particular instance
will not preclude coverage under this Insuring Agreement,
subject to the specific exclusions herein and in the Bond.
2. Definitions. The following terms used in this
Insuring Agreement shall have the following meanings:
a. "Voice-initiated Transaction" means any Voice-initiated
Redemption, Voice-initiated Election, Voice-initiated Exchange,
or Voice-initiated Purchase.
b. "Voice-initiated Redemption" means any redemption of
shares issued by an Investment Company which is requested
by voice over the telephone.
c. "Voice-initiated Election" means any election concerning
dividend options available to Fund shareholders which is
requested by voice over the telephone.
d. "Voice-initiated Exchange" means any exchange of
shares in a registered account of one Fund into shares
in an identically registered account of another Fund in
the same complex pursuant to exchange privileges of the
two Funds, which exchange is requested by voice over the
telephone.
e. "Voice-initiated Purchase" means any purchase of
shares issued by an Investment Company which is requested
by voice over the telephone.
f. "Designated Procedures" means the following procedures:
(1) Recordings: All Voice-initiated Transaction requests
shall be recorded, and the recordings shall be retained for
at least six (6) months. Information contained on the
recordings shall be capable of being retrieved and
produced within a reasonable time after retrieval of
specific information is requested, at a success rate of
no less than 85%.
(2) Identity Test: The identity of the caller in any
request for a Voice-initiated Redemption shall be tested
before executing that Voice-initiated Redemption, either
by requesting the caller to state a unique identification
number or to furnish key specific account information.
(3) Written Confirmation: A written confirmation of
each Voice-initiated Transaction and of each change
of the record address of a Fund shareholder requested
by voice over the telephone shall be mailed to the
shareholder(s) to whose account such Voice-initiated
Transaction or change of address relates, at the
original record address (and, in the case of such
change of address, at the changed record address) by the
end of the Insured's next regular processing cycle, but
no later than five (5)
business days following such Voice-initiated
Transaction or change of
address.
g.
"Investment Company" or "Fund" means an investment
company registered under the Investment Company Act of 1940.
h.
"Officially Designated" means or refers to a written
designation signed by a shareholder of record of a Fund,
either in such shareholder's initial application for the
purchase of Fund shares, with or without a Signature
Guarantee, or in another document with a Signature Guarantee.
i.
"Signature Guarantee" means a written guarantee of a
signature, which guarantee is made by a financial or
banking institution whose deposits are insured by the
Federal Deposit Insurance Corporation or by a broker which
is a member of any national securities exchange registered
under the Securities Exchange Act of 1934.
3. Exclusions. It is further understood and agreed that this
Insuring Agreement shall not cover:
a.
Any loss covered under Insuring Agreement A, "Fidelity, "
of this Bond; and
b.
Any loss resulting from:
(1)
Any Voice-initiated Redemption, where the proceeds
of such redemption were requested to be paid or made
payable to other than (a) the shareholder of
record, or (b) a person Officially Designated to
receive redemption proceeds, or (c) a bank account
Officially Designated to receive redemption proceeds; or
(2)
Any Voice-initiated Redemption of Fund shares which had
been improperly credited to a shareholder's account, where
such shareholder (a) did not cause, directly or indirectly,
such shares to be credited to such account, and (b) directly
or indirectly received any proceeds or other benefit from
such redemption; or
(3)
Any Voice-initiated Redemption from any account, where
the proceeds of such redemption were requested to be
sent (a) to any address other than the record address for
such account, or (b) to a record address for such
account which was either (i) designated over the telephone
fewer than thirty (30) days prior to such redemption, or
(ii) designated in writing less than on (1) day prior to
such redemption; or
(4)
The intentional failure to adhere to one or more
Designated Procedures; or
(5)
The failure to pay for shares attempted to be purchased; or
(6)
Any Voice-initiated Transaction requested by voice over
the telephone and received by an automated system which
receives and converts such request to executable instructions.
4. The total liability of the Underwriter under Insuring
Agreement L is limited to the sum of Fourteen Million Three Hundred
Fifty Thousand Dollars ($14,350,000), it being understood,
however, that such liability shall be part of and not in
addition to the Limit of Liability stated in Item 3 of the
Declarations of the attached bond or amendment thereof.
5. With respect to coverage afforded under this Rider the
applicable Deductible Amount is Twenty Five Thousand
Dollars ($25,000 ). Nothing herein contained shall be held
to vary, alter, waive, or extend any of the terms, conditions,
provisions, agreements or limitations of the above
mentioned Bond or Policy, other than as above stated.
Authorized Representative
INSURED
ENDORSEMENT OR RIDER NO. THIS ENDORSEMENT CHANGES THE
POLICY. PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be completed if
this endorsement or rider and the Bond or Policy have the same
inception date. The hard copy of the bond issued by the
Underwriter will be referenced in the event of a loss.
ATTACHED TO AND FORMING PART OF DATE ENDORSEMENT * EFFECTIVE
DATE OF ENDORSEMENT OR RIDER
BOND OR POLICY NO. OR RIDER EXECUTED 12:01 A.M. STANDARD TIME AS
SPECIFIED IN THE BOND OR POLICY
490PB2851 03/22/11 03/01/11
* ISSUED TO
JPMORGAN FUNDS
Amend Definition of Employee (Exclude EDP Coverage for Computer
Software or Programs)
It is agreed that:
1. Sub-section 7 of Section 1(a) in the Definition of Employee,
is deleted and replaced by the following:
(7) "each natural person, partnership or corporation
authorized by written agreement with the Insured to
perform services as electronic data processor of
checks or other accounting records of the Insured
(does not include the creating, preparing, modifying
or maintaining the Insured's computer software or programs),
but excluding any such processor who acts as transfer agent or
in any other agency capacity in issuing checks, drafts or
securities for the Insured, unless included under sub-section
(9) hereof, and" Nothing herein contained shall be held to vary,
alter, waive, or extend any of the terms, conditions, provisions,
agreements or limitations of the above mentioned Bond or Policy,
other than as above stated.
Authorized Representative
INSURED ENDORSEMENT OR RIDER NO. THIS ENDORSEMENT
CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be
completed if this endorsement or rider and the Bond or
Policy have the same inception date. The hard copy of
the bond issued by the Underwriter will be referenced
in the event of a loss.
ATTACHED TO AND FORMING PART OF DATE ENDORSEMENT
* EFFECTIVE DATE OF ENDORSEMENT OR RIDER
BOND OR POLICY NO. OR RIDER EXECUTED 12:01 A.M.
STANDARD TIME AS SPECIFIED IN THE BOND OR POLICY
490PB2851 03/22/11 03/01/11
* ISSUED TO
JPMORGAN FUNDS
DEFINITION OF INVESTMENT COMPANY
It is agreed that:
1. Section 1, Definitions, under General Agreements is
amended to include the following paragraph:
(f) Investment Company means an investment company registered
under the Investment Company Act of 1940 and as listed under
the names of Insureds on the Declarations.
Nothing herein contained shall be held to vary, alter,
waive, or extend any of the terms, conditions, provisions,
agreements or limitations of the above mentioned Bond or
Policy, other than as above stated.
Authorized Representative
INSURED ENDORSEMENT OR RIDER NO. THIS ENDORSEMENT CHANGES
THE POLICY. PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be
completed if this endorsement or rider and the Bond or
Policy have the same inception date. The hard copy of the
bond issued by the Underwriter will be referenced in the
event of a loss.
ATTACHED TO AND FORMING PART OF DATE ENDORSEMENT
* EFFECTIVE DATE OF ENDORSEMENT OR RIDER
BOND OR POLICY NO. OR RIDER
EXECUTED 12:01 A.M. STANDARD TIME AS
SPECIFIED IN THE BOND OR POLICY
490PB2851 03/22/11 03/01/11
* ISSUED TO
JPMORGAN FUNDS
ADD EXCLUSIONS (N) & (O)
It is agreed that:
1. Section 2, Exclusions, under General Agreements, is amended to
include the following sub-sections:
(n)
loss from the use of credit, debit, charge, access,
convenience, identification, cash management or other cards,
whether such cards were issued or purport to have been issued by
the Insured or by anyone else, unless such
loss is otherwise covered under Insuring Agreement A.
(o)
the underwriter shall not be liable under the attached bond for
loss due to liability imposed upon the Insured as a result of
the unlawful disclosure of non-public material information by
the Insured or any Employee, or as a result of any Employee
acting upon such information, whether authorized or
unauthorized. Nothing herein contained shall be held to vary,
alter, waive, or extend any of the terms, conditions,
provisions, agreements or limitations of the above
mentioned Bond or Policy, other than as above stated.
Authorized Representative
INSURED
The following spaces preceded by an (*) need not be
completed if this endorsement or rider and the Bond
or Policy have the same inception date.
490PB2851
ATTACHED TO AND FORMING PART OF BOND OR
POLICY NO. 03/22/11 DATE ENDORSEMENT OR RIDER
EXECUTED 03/01/11 * EFFECTIVE DATE OF ENDORSEMENT OR
RIDER 12:01 A.M. LOCAL TIME AS SPECIFIED IN THE BOND OR POLICY
* ISSUED TO
JPMORGAN FUNDS
ADD THEFT AND FALSE PRETENSES TO INSURING AGREEMENT C - IN
TRANSIT For use with Form 25 MEL3724 Ed. 11/05
It is agreed that:
1. Insuring Agreement C - In Transit - is deleted and replaced
by the following:
IN TRANSIT
(C) Loss of Property resulting directly from robbery,
common-law or statutory larceny, theft, false pretenses,
misplacement, mysterious unexplainable disappearance, being
lost or made away with, and damage thereto or destruction
thereof, while the Property is in transit anywhere in the
custody of:
(a)
a natural person acting as a messenger of the Insured
(or another natural person acting as messenger or custodian
during an emergency arising from the
incapacity of the original messenger), or
(b)
a Transportation Company and being transported in an armored
motor vehicle, or
(c)
a Transportation Company and being transported in a conveyance
other than a armored motor vehicle provided that covered
Property transported in such manner is limited to the following:
(i)
records, whether recorded in writing or electronically, and
(ii)
Certificated Securities issued in registered form and not
endorsed, or with restrictive endorsements, and
(iii) Negotiable Instruments not payable to bearer, or not
endorsed, or with restrictive endorsements.
Coverage under this Insuring Agreement begins immediately
upon the receipt of such Property by the natural person or
Transportation Company and ends immediately upon delivery
to the designated recipient or its agent.
Nothing herein contained shall be held to vary, alter, waive,
or extend any of the terms, conditions, provisions, agreements
or limitations of the above mentioned Bond or Policy, other
than as above stated.
By
Authorized Representative
INSURED
The following spaces preceded by an (*) need not be completed if
this endorsement or rider and the Bond or Policy have the same
inception date.
490PB2851 ATTACHED TO AND FORMING PART OF BOND OR
POLICY NO. 03/22/11 DATE ENDORSEMENT OR RIDER EXECUTED
03/01/11 * EFFECTIVE DATE OF ENDORSEMENT OR
RIDER 12:01 A.M. LOCAL TIME AS SPECIFIED IN THE BOND OR POLICY
* ISSUED TO
JPMORGAN FUNDS
The hard copy of the bond issued by the Underwriter will be
referenced in the event of a loss.
AUTOMATIC INCREASE IN LIMITS MEL4734 Ed. 11-06 - For use with
ICB005 Ed. 7-04 It is agreed that:
1. Section 10., Limit of Liability, is amended to include the
following paragraph:
If the Insured shall, while this bond is in force, require an
increase in limits to comply with SEC Reg. 17g-1, due to an
increase in asset size of current Investment Companies insured
under the bond or the addition of new Investment
Companies, the Limit of Liability of this Bond shall automatically
be increased to comply with this regulation without the payment
of additional premium for the remainder of the premium period.
Nothing herein contained shall be held to vary, alter, waive,
or extend any of the terms, conditions, provisions, agreements
or limitations of the above mentioned Bond or Policy, other
than as above stated.
By
Authorized Representative
INSURED
EX-1
2
Endorsement_all.txt
RIDER FOR 2011-2012 FIDELITY BOND
ENDORSEMENT OR RIDER NO.
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
The following spaces preceded by an (*) need not be completed if this
endorsement or rider and the Bond or Policy have the same inception date.
ATTACHED TO AND FORMING PART OF BOND OR POLICY NO. 490PB2851
DATE ENDORSEMENT OR RIDER EXECUTED 01/05/12
* EFFECTIVE DATE OF ENDORSEMENT OR RIDER 12:01 A.M.
STANDARD TIME AS 01/01/12 SPECIFIED IN THE BOND OR POLICY
* ISSUED TO
JPMORGAN FUNDS
AMEND DECLARATIONS
It is agreed that: The following checked items are amended on the Declarations
Page:
Item 1. Name of Insured / Principal Address: From:
To:
Item 2. Bond Period: From: 12:01 a.m. on to 12:01 a.m. on the effective
date of the termination or cancellation of the bond, standard time at the
Principal Address as to each of saiddates.
Item 3. Limit of Liability is hereby amended to read as follows:
Limit of Liability Deductible Amount
Insuring Agreement A-FIDELITY $15,525,000 $0
Insuring Agreement B-AUDIT EXPENSE $50,000 $0
Insuring Agreement C-PREMISES $15,525,000 $25,000
Insuring Agreement D - TRANSIT $15,525,000 $25,000
Insuring Agreement E-FORGERY OR ALTERATION
$15,525,000 $25,000
Insuring Agreement F-SECURITIES $15,525,000 $25,000
Insuring Agreement G-COUNTERFEIT CURRENCY
$15,525,000 $25,000
Insuring Agreement H-STOP PAYMENT $50,000 $5,000
Insuring Agreement I-UNCOLLECTIBLE ITEMS OF DEPOSIT
$50,000 $5,000
OPTIONAL COVERAGES ADDED BY RIDER:
(J) Unauthorized Signatures $50,000 $5,000
(K) Computer Systems $15,525,000 $25,000
(L) Voice-Initiated Transactions
$15,525,000 $25,000
(M) Telefacsimile Transactions$15,525,000 $25,000
Item 4. Offices or Premises Covered: The following offices or premises
are added:
This endorsement applies to loss sustained at any time but discovered on or
after the date this endorsement becomes effective.
Nothing herein contained shall be held to vary, alter, waive, or extend any of
the terms, conditions, provisions, agreements or limitations of the above
mentioned Bond or Policy, other than as above stated.
By
Authorized Representative
INSURED
ICB028 Ed. 7-04 a 2004 The Travelers Indemnity Company. All rights reserved.
ENDORSEMENT OR RIDER
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
The following spaces proceeded by an (*) need not be completed if this
endorsement or rider and the Bond or Policy have the same inception date.
Attached to and Forming Part of Bond Or Policy No. 490PB2851
Date Endorsement or Rider Executed 01/20/2012
* Effective Date of Endorsement or Rider 12:01 A.M.
Standard Time as Specified in the Bond or Policy 01/01/2012
*ISSUED TO JPMORGAN FUNDS
Named Insured Endorsement
It is agreed that:
1. From and after the time this rider becomes effective the Insured under the
attached bond are:
JPMorgan Trust I including:
Highbridge Dynamic Commodities Strategy Fund
Highbridge Statistical Market Neutral Fund
JPMorgan 100% U.S. Treasury Securities Money Market Fund
JPMorgan Access Balanced Fund
JPMorgan Access Growth Fund
JPMorgan Alternative Strategies Fund
JPMorgan Asia Equity Fund
JPMorgan Asia Pacific Focus Fund
JPMorgan California Municipal Money Market Fund
JPMorgan California Tax Free Bond Fund
JPMorgan China Region Fund
JPMorgan Credit Opportunities Fund
JPMorgan Current Income Fund
JPMorgan Current Yield Money Market Fund
JPMorgan Disciplined Equity Fund
JPMorgan Diversified Fund
JPMorgan Diversified Real Return Fund
JPMorgan Dynamic Growth Fund
JPMorgan Dynamic Small Cap Growth Fund
JPMorgan Emerging Economies Fund
JPMorgan Emerging Markets Debt Fund
JPMorgan Emerging Markets Equity Fund
JPMorgan Emerging Markets Local Currency Debt Fund
JPMorgan Equity Focus Fund
JPMorgan Ex-G4 Currency Strategies Fund
JPMorgan Federal Money Market Fund
JPMorgan Floating Rate Income Fund
JPMorgan Global Allocation Fund
JPMorgan Global Equity Income Fund
JPMorgan Global Opportunities Fund
JPMorgan Global Natural Resources Fund
JPMorgan Global Unconstrained Equity Fund
JPMorgan Growth and Income Fund
JPMorgan Growth Long/Short Fund
JPMorgan Income Builder Fund
JPMorgan India Fund
JPMorgan Inflation Managed Bond Fund
JPMorgan Intermediate Tax Free Bond Fund
JPMorgan International Currency Income Fund
JPMorgan International Equity Fund
JPMorgan International Opportunities Fund
JPMorgan International Opportunities Plus Fund
JPMorgan International Realty Fund
JPMorgan International Unconstrained Equity Fund
JPMorgan International Value Fund
JPMorgan International Value SMA Fund
JPMorgan Intrepid America Fund
JPMorgan Intrepid European Fund
JPMorgan Intrepid Growth Fund
JPMorgan Intrepid International Fund
JPMorgan Intrepid Multi Cap Fund
JPMorgan Intrepid Value Fund
JPMorgan Latin America Fund
JPMorgan Managed Income Fund
JPMorgan Mid Cap Core Fund
JPMorgan Mid Cap Equity Fund
JPMorgan Multi-Cap Long/Short Fund
JPMorgan Multi-Sector Income Fund
JPMorgan New York Municipal Money Market Fund
JPMorgan New York Tax Free Bond Fund
JPMorgan Prime Money Market Fund
JPMorgan Real Return Fund
JPMorgan Research Equity Long/Short Fund
JPMorgan Research Market Neutral Fund
JPMorgan Russia Fund
JPMorgan Small Cap Core Fund
JPMorgan Small Cap Equity Fund
JPMorgan SmartRetirement 2010 Fund
JPMorgan SmartRetirement 2015 Fund
JPMorgan SmartRetirement 2020 Fund
JPMorgan SmartRetirement 2025 Fund
JPMorgan SmartRetirement 2030 Fund
JPMorgan SmartRetirement 2035 Fund
JPMorgan SmartRetirement 2040 Fund
JPMorgan SmartRetirement 2045 Fund
JPMorgan SmartRetirement 2050 Fund
JPMorgan SmartRetirement 2055 Fund
JPMorgan SmartRetirement Income Fund
JPMorgan Strategic Income Opportunities Fund
JPMorgan Strategic Preservation Fund
JPMorgan Tax Aware Equity Fund
JPMorgan Tax Aware High Income Fund
JPMorgan Tax Aware Income Opportunities Fund
JPMorgan Tax Aware Real Return Fund
JPMorgan Tax Aware Real Return SMA Fund
JPMorgan Tax Free Money Market Fund
JPMorgan Total Emerging Markets Fund
JPMorgan Total Return Fund
JPMorgan U.S. Dynamic Plus Fund
JPMorgan U.S. Equity Fund
JPMorgan U.S Large Cap Core Plus Fund
JPMorgan U.S. Large Cap Core Plus Fund II
JPMorgan U.S. Large Cap Value Plus Fund
JPMorgan U.S. Research Equity Plus Fund
JPMorgan U.S. Small Company Fund
JPMorgan Value Advantage Fund
Security Capital U.S. Core Real Estate Securities Fund
JPMorgan Trust II including:
JPMorgan Arizona Municipal Bond Fund
JPMorgan Core Bond Fund
JPMorgan Core Plus Bond Fund
JPMorgan Mid Cap Growth Fund
JPMorgan Equity Income Fund
JPMorgan Equity Index Fund
JPMorgan Government Bond Fund
JPMorgan High Yield Fund
JPMorgan International Equity Index Fund
JPMorgan Intrepid Mid Cap Fund
JPMorgan Investor Balanced Fund
JPMorgan Investor Conservative Growth Fund
JPMorgan Investor Growth & Income Fund
JPMorgan Investor Growth Fund
JPMorgan Large Cap Growth Fund
JPMorgan Large Cap Value Fund
JPMorgan Liquid Assets Money Market Fund
JPMorgan Market Expansion Index Fund
JPMorgan Michigan Municipal Bond Fund
JPMorgan Michigan Municipal Money Market Fund
JPMorgan Mortgage-Backed Securities Fund
JPMorgan Multi-Cap Market Neutral Fund
JPMorgan Municipal Income Fund
JPMorgan Municipal Money Market Fund
JPMorgan Ohio Municipal Bond Fund
JPMorgan Ohio Municipal Money Market Fund
JPMorgan Short Duration Bond Fund
JPMorgan Short- Intermediate Municipal Bond Fund
JPMorgan Small Cap Growth Fund
JPMorgan Small Cap Value Fund
JPMorgan Tax Free Bond Fund
JPMorgan Treasury & Agency Fund
JPMorgan U.S. Government Money Market Fund
JPMorgan U.S. Real Estate Fund
JPMorgan U.S. Treasury Plus Money Market Fund
JPMorgan Limited Duration Bond Fund
Undiscovered Managers Funds including:
JPMorgan Realty Income Fund
Undiscovered Managers Behavioral Growth Fund
Undiscovered Managers Behavioral Value Fund
J.P. Morgan Mutual Fund Group including:
JPMorgan Short Term Bond Fund II
J.P. Morgan Fleming Mutual Fund Group, Inc. including:
JPMorgan Mid Cap Value Fund
J.P. Morgan Mutual Fund Investment Trust including:
JPMorgan Growth Advantage Fund
JPMorgan Insurance Trust including:
JPMorgan Insurance Trust Core Bond Portfolio
JPMorgan Insurance Trust Mid Cap Growth Portfolio
JPMorgan Insurance Trust Mid Cap Value Portfolio
JPMorgan Insurance Trust Equity Index Portfolio
JPMorgan Insurance Trust International Equity Portfolio
JPMorgan Insurance Trust Intrepid Growth Portfolio
JPMorgan Insurance Trust Intrepid Mid Cap Portfolio
JPMorgan Insurance Trust Small Cap Core Portfolio
JPMorgan Insurance Trust U.S. Equity Portfolio
JPMorgan Institutional Trust including:
JPMorgan Core Bond Trust
JPMorgan Equity Index Trust
JPMorgan Intermediate Bond Trust
Pacholder High Yield Fund, Inc. including:
Pacholder High Yield Fund, Inc.
J.P. Morgan Access Multi-Strategy Fund, L.L.C. including:
J.P. Morgan Access Multi-Strategy Fund, L.L.C.
J.P. Morgan Access Multi-Strategy Fund II
J.P. Morgan Access Multi-Strategy Fund II
2.The first named Insured shall act for itself and for each and all of the
Insured for all the purposes of the attached bond.
3.Knowledge possessed or discovery made by any Insured or by any partner or
officer thereof shall for all the purposes of the attached bond constitute
knowledge or discovery by all the Insured.
4.If, prior to the termination of the attached bond in its entirety, the
attached bond is terminated as to any Insured, there shall be no liability
for any loss sustained by such Insured unless discovered before the time
such termination as to such Insured becomes effective.
5. The liability of the Underwriter for loss or losses sustained by any or all
of the Insured shall not exceed the amount for which the Underwriter would
be liable had all such loss or losses been sustained by any one of the
Insured. Payment by the Underwriter to the first named Insured of loss
sustained by any Insured shall fully release the Underwriter on account of
such loss.
6. If the first named Insured ceases for any reason to be covered under the
attached bond, then the Insured next named shall thereafter be considered
as the first named Insured for all the purposes of the attached bond.
Nothing herein contained shall be held to vary, alter, waive, or extend
any of the terms, conditions, provisions, agreements or limitations of
the above mentioned Bond or Policy, other than as above stated.
By
Authorized Representative
EX-2
3
Secretary_Certificate.txt
SECRETARY CERTIFICATE
JPMORGAN TRUST I
JPMORGAN TRUST II
UNDISCOVERED MANAGERS FUNDS
JPMORGAN INSURANCE TRUST
J.P. MORGAN FLEMING MUTUAL FUND GROUP, INC.
J.P. MORGAN MUTUAL FUND GROUP
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 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 unanimous written
consent 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, as amended) on the 19th day of January,
2012, and that said resolutions are in full force and effect:
WHEREAS, at the June 2011 meeting, the Board of Trustees approved
the addition of J.P. Morgan Access Multi-Strategy Fund II to the Fidelity
Bond written by St. Paul Fire and Marine Insurance Company (the "Bond")
covering JPMorgan Trust I, JPMorgan Trust II, Undiscovered Managers Funds,
JPMorgan Insurance Trust, J.P. Morgan Fleming Mutual Fund Group, Inc.,
J.P. Morgan Mutual Fund Group, J.P. Morgan Mutual Fund Investment Trust,
JPMorgan Institutional Trust, J.P. Morgan Access Multi-Strategy
Fund, L.L.C. and Pacholder High Yield Fund, Inc. in the amount of
$14,350,000;
WHEREAS, based on the assets of the JPMorgan Trust I, JPMorgan
Trust II, Undiscovered Managers Funds, JPMorgan Insurance Trust, J.P.
Morgan Fleming Mutual Fund Group, Inc., J.P. Morgan Mutual Fund Group,
J.P. Morgan Mutual Fund Investment Trust, JPMorgan Institutional Trust,
J.P. Morgan Access Multi-Strategy Fund, L.L.C, J.P. Morgan Access
Multi-Strategy Fund II, and Pacholder High Yield Fund, Inc. (collectively,
the "Trusts") as of December 29, 2011, the officers of the Trusts have
determined that the amount of the Bond should be increased to
$15,525,000; and
WHEREAS, the Trustees desire to approve and ratify the Bond
provided by St. Paul Fire and Marine Insurance Company on January 5, 2012
in the amount of $15,525,000 and authorize the filing of the Bond with
the Securities and Exchange Commission;
RESOLVED, that it is the finding of the Trustees of the Trusts and
separately the finding of the Independent Trustees that the Bond in the
aggregate amount of $15,525,000, 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 26th day of January, 2012
/s/ Frank J. Nasta
________________
Frank J Nasta
Secretary
EX-3
4
statement_1.txt
STATEMENT OF SINGLE INSURED BOND
Rule 17g-1-Bonding of Officers and Employees of
Registered Management Investment Companies
17g-1(g)(1)(ii)(c): Statement showing the amount of the single insured
bond which each investment company would have provided and maintained had
it not been named as an insured under a joint insured bond
JPMorgan Trust I
$2,500,000
JPMorgan Trust II
2,500,000
Undiscovered Managers Funds
900,000
JPMorgan Insurance Trust
1,000,000
J.P. Morgan Fleming Mutual Fund Group, Inc.
2,500,000
J.P. Morgan Mutual Fund Group 450,000
J.P. Morgan Mutual Fund Investment Trust
1,250,000
JPMorgan Institutional Trust
2,500,000
Pacholder High Yield Fund, Inc.
525,000
J.P. Morgan Access Multi-Strategy Fund, L.L.C.
1,000,000
J.P. Morgan Access Multi-Strategy Fund II
400,000
The Premium for JPMorgan Trust I, JPMorgan Trust II, Undiscovered Managers
Funds, JPMorgan Insurance Trust, J.P. Morgan Fleming Mutual Fund Group, Inc.,
J.P. Morgan Mutual Fund Group, 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 is paid for the period March 1, 2011 to March 1, 2012.
EX-4
5
amendedagreement.txt
AMENDED AGREEMENT
JOINT FIDELITY BOND AGREEMENT
AGREEMENT made effective this 19th day of January, 2012 by and
among each of the Registrants listed on Schedule A to this Agreement
(each a "Registrant" and collectively, the "Registrants")
and each an "Insured" and collectively, the "Insureds").
WHEREAS, each Registrant is a management investment company
registered under the Investment Company Act of 1940, as amended (the
"1940 Act"); and
WHEREAS, pursuant to the requirements of Rule 17g-1 under the
1940 Act, each Registrant is required to maintain a fidelity bond against
larceny and embezzlement covering certain of its officers and employees;
and
WHEREAS, Rule 17g-1 provides that a registered management investment
company may obtain a joint insured bond covering itself and other persons,
as specified in Rule 17g-1(b) under the 1940 Act, including other registered
investment companies that are managed and/or whose shares are distributed by
the same entities (or affiliates of such entities); and
WHEREAS, each series of the Registrants is managed by subsidiaries or
affiliates of JPMorgan Chase & Co. ("JPMorgan"); and
WHEREAS, the Insureds have entered into a Registered Management
Investment Company Bond issued by St. Paul Fire and Marine Insurance Company
("Bond"); and
WHEREAS, the Insureds desire to provide for: (1) the method by which the
amount of coverage provided under the Bond will be determined from time to
time; and (2) an equitable and proportionate allocation of any proceeds received
under the Bond in the event that one or more Insureds suffer loss and
consequently are entitled to recover under the Bond;
NOW THEREFORE, it is hereby agreed among the parties hereto as follows:
1. Amount of Coverage Maintained. The amount of fidelity bond
coverage under the Bond shall at all times be at least equal in amount to the
total amount of coverage which each Registrant would have been required to
provide and maintain individually pursuant to the schedule set forth in
paragraph (d) of Rule 17g-1 under the 1940 Act had each Registrant not been
a named Insured under the Bond.
2. Allocation of Recovery. In the event recovery is received under
the Bond as a result of loss sustained by more than one of the Insureds, each
such Registrant shall receive an equitable and proportionate share of the
recovery which shall be at least equal to the amount which that Registrant
would have received had it provided and maintained a single insured bond with
the minimum coverage required by Rule 17g-1(d)(1).
3. Allocation of Premiums. No premium shall be paid by a Registrant
under the Bond unless that Registrant's Board of Trustees, including majority of
those Trustees who are not "interested persons" of the Registrant as defined by
Section 2(a) (19) of the 1940 Act, shall approve the portion of the premium to
be paid by that Registrant. The premium payable on the Bond shall be allocated
among the Insureds as determined by the Registrants' Boards of Trustees.
4. Amendment. This Agreement may not be amended or modified in
any manner except by a written agreement executed by the parties. This
Agreement supersedes the Joint Fidelity Bond Agreement dated as of March 1,
2011 between JPMorgan Trust I, JPMorgan Trust II, Undiscovered Managers
Funds, JPMorgan Insurance Trust, J.P. Morgan Fleming Mutual Fund Group, Inc.,
J.P. Morgan Mutual Fund Group, J.P. Morgan Mutual Fund Investment Trust,
Pacholder High Yield Fund, Inc., JPMorgan Institutional Trust and J.P. Morgan
Access Multi-Strategy Fund, L.L.C.
5. Applicable Law. This Agreement shall be construed and the
provisions thereof interpreted under and in accordance with the laws of the
State of New York.
6. Term. The term of this Agreement shall commence on the date
hereof and shall terminate upon the termination or cancellation of the Bond.
IN WITNESS WHEREOF, each of the parties has caused this Agreement to be
executed in its name and behalf by its authorized representative effective as
of the day and year first above written.
JPMorgan Trust I
JPMorgan Trust II
Undiscovered Managers Funds
JPMorgan Insurance Trust
J.P. Morgan Fleming Mutual Fund Group, Inc.
J.P. Morgan Mutual Fund Group
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
By: /s/ Patricia A. Maleski
____________________
Name: Patricia A. Maleski
Title: President
Schedule A: Registrants
JPMorgan Trust I
JPMorgan Trust II
Undiscovered Managers Funds
JPMorgan Insurance Trust
J.P. Morgan Fleming Mutual Fund Group, Inc.
J.P. Morgan Mutual Fund Group
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