JPMorgan Core Bond Fund
JCBUX
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- JPMorgan Core Bond Fund (JCBUX) is an open-end mutual fund managed by J.P. Morgan Investment Management Inc. that seeks to maximize total return through a diversified portfolio of investment-grade, intermediate- and long-term debt securities, with at least 80% of assets invested in bonds; its core holdings include U.S. Treasury obligations, agency mortgage-backed securities (such as specified pools and collateralized mortgage obligations), asset-backed securities, non-agency mortgage-backed securities, commercial mortgage-backed securities, and investment-grade corporate bonds, typically featuring 30%-60% in securitized debt, 20%-35% in corporates, and 15%-35% in Treasuries, with an average duration within 10% of the Bloomberg U.S. Aggregate Bond Index and a high-quality bias emphasizing AAA-rated bonds. The fund operates within the intermediate core bond segment, targeting institutional and retirement investors such as those meeting the $15 million minimum initial investment for R6 shares; it is domiciled in the United States, available primarily for sale in the U.S., with total net assets of approximately $51.89 billion and a net expense ratio of 0.33% as of recent data. Launched on February 22, 2005, with fund inception tracing to May 1, 1992 via predecessor share classes, the strategy is headquartered in the U.S. as part of J.P. Morgan Asset Management, a division of JPMorgan Chase & Co.; the management team, led by Richard Figuly (since September 2015) and Justin Rucker (since March 2019), was bolstered in May 2023 by the addition of securitized specialist Andrew Melchiorre and rates expert Edward Fitzpatrick, following advance planning for the March 2024 retirement of former comanager Steve Lear, which contributed to Morningstar upgrades of the fund's People and Process Pillars to High in March 2024 and a Gold Medalist Rating for its cheapest shares.