JPMorgan Liquidity Funds - USD Standard Money Market VNAV Fund Capital (acc)/  LU1458492177  /

The Sub-Fund seeks to achieve a return in the Reference Currency in excess of USD money market rates whilst aiming to preserve capital consistent with prevailing money market rates and to maintain a high degree of liquidity. The Sub-Fund will invest its assets in Debt Securities and deposits with credit institutions. The Sub-Fund may have exposure to investments with zero or negative yields in adverse market conditions. The weighted average maturity of the Sub-Fund's investments will not exceed 6 months and the initial or remaining maturity of each Debt Security will not exceed 2 years with a 397 day reset at the time of purchase. In addition to receiving a favourable assessment of their credit quality pursuant to the Management Company's Internal Credit Procedures, Debt Securities with a long-term rating will be rated at least "BBB" and Debt Securities with a short-term rating will be rated at least "A-2" by Standard & Poor's or otherwise similarly rated by another independent rating agency.

The Sub-Fund seeks to achieve a return in the Reference Currency in excess of USD money market rates whilst aiming to preserve capital consistent with prevailing money market rates and to maintain a high degree of liquidity.