JPMorgan Emerging Markets Local Currency Debt Fund to launch Monday

By Toni Weeks

San Diego, June 21 - The JPMorgan Emerging Markets Local Currency Debt Fund will launch on Monday, JPMorgan Trust I said in an N-1A filing with the Securities and Exchange Commission.

The fund offers class A, class C and select class shares. The shares trade under the symbols "JECAX," "JECCX" and "JECSX," respectively.

The fund seeks to provide total return by investing at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in debt securities of issuers located in or tied economically to emerging markets and denominated in emerging markets currencies as well as in derivatives or other instruments that are used as substitutes for local currency debt securities.

The fund may invest all or substantially all of its assets in sovereign debt securities and may invest, to a lesser extent, in debt securities issued or guaranteed by foreign corporations and foreign financial institutions.

Pierre-Yves Bareau and Didier Lambert are the portfolio managers.

Class A shares will be subject to a 3.75% maximum sales charge, and class C shares will incur a 1% maximum deferred sales charge.

Management fees will be 0.7% for each share class. A fee waiver agreement between the fund and its service providers will limit total annual fund operating expenses to 1.25% for class A, 1.75% for class C and 1% for select class shares.

New York-based J.P. Morgan Investment Management Inc. is the fund's investment adviser.

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