JPMorgan SmartRetirement Blend 2045 Fund Class R6
JMYAX
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USD
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Capital Structure
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- JPMorgan Trust I DE United States of America
- IPO Date
- Jul 2, 2012
- CIK
- 0001217286
- Website
- am.jpmorgan.com
- Similar Companies
- Business
- JPMorgan SmartRetirement Blend 2045 Fund Class R6 (JMYAX) is a target-date mutual fund managed by J.P. Morgan Asset Management that seeks high total return through a professionally managed, diversified portfolio, shifting toward current income and capital appreciation as it approaches and passes the 2045 target retirement date around which investors plan to retire and subsequently withdraw funds. The fund operates as a fund-of-funds, providing exposure to equity, fixed income, and cash/cash equivalent asset classes via underlying JPMorgan mutual funds and exchange-traded funds (ETFs), including limited passive ETFs from unaffiliated managers and/or direct securities; its strategic allocation as of March 31, 2025, features approximately 46.2% U.S. large cap equity, 21.9% international developed equity, 8.1% emerging markets equity, 10.8% U.S. fixed income, 1.4% high yield, 0.4% emerging markets debt, 1.8% REITs, 3.3% U.S. small cap equity, 6.1% U.S. mid cap equity, and minimal cash equivalents, implemented through target asset allocation, manager selection, and active tactical adjustments overseen by a multi-asset solutions team with portfolio managers including Ove Fladberg, Silvia Trillo, Daniel Oldroyd, Jeffrey Geller, and Anshul Mohan. Launched on July 2, 2012, with R6 shares (CUSIP 46636U264) carrying a net expense ratio of 0.17% (gross 0.35%, with waivers through at least October 31, 2025) and a minimum initial investment of $15 million, the fund maintains total assets of approximately $2.35-$2.9 billion, low turnover of 13-18%, and a Morningstar Bronze Medalist Rating and 3-star overall rating as of early 2025; it follows a glide path that annually reviews and adjusts allocations to become more conservative, targeting 40% equities at retirement (underweight peers by about 4 percentage points for risk reduction) and maintaining that level five years post-retirement, with a savings-phase emphasis on equities up to 94% for younger investors. Headquartered at 270 Park Avenue, New York, NY, under J.P. Morgan Funds distributed by JPMorgan Distribution Services, Inc., the fund serves retirement plan participants and institutional investors globally through multi-asset strategies leveraging J.P. Morgan's research, including participant data from JPMorgan Chase Bank. Recent developments include a 2024 equity trim of 2 percentage points across SmartRetirement portfolios dated 2035 or later (including 2045), based on research indicating reduced risk needed to meet goals while remaining overweight equities pre-retirement versus peers; integration of the SmartSpending program since 2021-22 to address volatile early-retirement spending patterns and extend funding to age 100; and ongoing tactical asset allocation deviations of plus or minus 4% from the glide path amid 2024-2025 market conditions like sustained high interest rates.