Holiday Date closedMoney Market Mutual Funds

Fixed Income Mutual Funds

New Years Day Wednesday, January 01, 2014 l l

Dr. Martin Luther King, Jr. Day Monday, January 20, 2014 l l

President's Day Monday, February 17, 2014 l l

Good Friday Friday, April 18, 2014 l l

Memorial Day Monday, May 26, 2014 l l

Independence Day Friday, July 04, 2014 l l

Labor Day Monday, September 01, 2014 l l

Columbus Day Monday, October 13, 2014 l

Veterans Day Tuesday, November 11, 2014 l

Thanksgiving Day Thursday, November 27, 2014 l l

Christmas Thursday, December 25, 2014 l l

2014 Holiday Calendar | J.P. Morgan Global Liquidity

J.P. Morgan Mutual Funds will be closed for trading on the following days:

FOR INSTITUTIONAL/WHOLESALE OR PROFESSIONAL INVESTOR USE ONLY | NOT FOR RETAIL USE OR DISTRIBUTION

l = Closed for tradingU.S. holiday schedule is subject to change.

Business day: For Sub-Funds with a Reference Currency of Euro, a Business Day is everyday which is not designated as a Target closing day by the European Central Bank and any additional day determined by the Management Company. For Sub-Funds with a Reference Currency of U.S. Dollar, a Business Day is every day the Federal Reserve Bank of New York and the New York Stock Exchange are open and any additional day determined by the Management Company. For Sub-Funds with a Reference Currency of Sterling, a Business Day is is every day the Bank of England and the London Stock Exchange are open and any additional day determined by the Management Company. For Sub-Funds with a Reference Currency of Australian Dollars, a Business Day is every day other than a Saturday or Sunday on which banks are open for general banking business in Sydney and any additional day determined by the Management Company. For Sub-Funds with a Reference Currency of Singapore Dollars, a Business Day is every day on which the Monetary Authority of Singapore is open and any additional day determined by the Management Company. Any additional day determined by the Management Company to be a Business Day in respect of any Sub-Fund will be notified to Shareholders in the relevant Sub-Fund by an announcement published on the Luxembourg Stock Exchance, by publication on the JPMorgan Global Cash Portal website (www.jpmorgan.com/assetmanagement/globalcash) and by e-mail communication to all Shareholders appearing on a current distribution list maintained on the Register of Shareholders at least forty eight (48) hours in advance of such day. Information will also by available during normal office hours from the Registered Office of the Fund.Trading hours may be restricted on days preceding or following these holidays, as well as on days when securities markets close early. Please contact J.P. Morgan Funds Services at 1-800-766-7722 or 1-302-634-2960 to confirm early fund closings, or visit our Web site, www.jpmgloballiquidity.com. J.P. Morgan Funds Services Representatives are available 8:00 a.m. to 6:00 p.m. (EST) on fund business days.Contact J.P. Morgan Distribution Services at 1-800-766-7722 for a fund prospectus. You can also visit us at www.jpmorganfunds.com. Investors should carefully consider the investment objectives and risks as well as charges and expenses of the mutual fund before investing. The prospectus contains this and other information about the mutual fund. Read the prospectus carefully before investing.An investment in a money market fund is not insured by the FDIC or any other government agency. Although money market funds strive to preserve the value of the investment at $1.00 per share, it is possible to lose money by investing in a money market fund.

NOT FOR RETAIL DISTRIBUTION: This communication has been prepared exclusively for Institutional/Wholesale Investors as well as Professional Clients as defined by local laws and regulation. This material is not intended to represent an offer or solicitation of any financial instrument. It shall not be reproduced or distributed to any person other than an intended recipient unless done with JPMAM’s prior, written consent.

Information herein is believed to be reliable but J.P. Morgan Asset Management does not warrant its completeness or accuracy. The material is not intended to provide, and should not be relied on for, accounting, legal or tax advice, or investment recommendations. Changes in rates of exchange may have an adverse effect on the value, price or income of investments.

J.P. Morgan Asset Management is the brand for the asset management business of JPMorgan Chase & Co. and its affiliates worldwide. This communication is issued by the following entities: in the United Kingdom by JPMorgan Asset Management (UK) Limited, which is authorized and regulated by the Financial Conduct Authority (FCA); in other EU jurisdictions by JPMorgan Asset Management (Europe) S.à r.l.; in Switzerland by J.P. Morgan (Suisse) SA, which is regulated by the Swiss Financial Market Supervisory Authority FINMA; in Hong Kong by JF Asset Management Limited, or JPMorgan Funds (Asia) Limited, or JPMorgan Asset Management Real Assets (Asia) Limited, all of which are regulated by the Securities and Futures Commission; in India by JPMorgan Asset Management India Private Limited which is regulated by the Securities & Exchange Board of India; in Singapore by JPMorgan Asset Management (Singapore) Limited, which is regulated by the Monetary Authority of Singapore; in Japan by JPMorgan Securities Japan Limited, which is regulated by the Financial Services Agency; in Australia by JPMorgan Asset Management (Australia) Limited, which is regulated by the Australian Securities and Investments Commission; in Brazil by Banco J.P. Morgan S.A. (Brazil) which is regulated by The Brazilian Securities and Exchange Commission (CVM) and Brazilian Central Bank (Bacen); and in Canada by JPMorgan Asset Management (Canada) Inc., which is a registered Portfolio Manager and Exempt Market Dealer in all Canadian provinces and territories except the Yukon and is also registered as an Investment Fund Manager in British Columbia, Ontario, Quebec and Newfoundland and Labrador. This communication is issued in the United States by J.P. Morgan Investment Management Inc., which is regulated by the Securities and Exchange Commission. Accordingly this document should not be circulated or presented to persons other than to professional, institutional or wholesale investors as defined in the relevant local regulations. The value of investments and the income from them may fall as well as rise and investors may not get back the full amount invested. For U.S. registered mutual funds, J.P. Morgan Institutional Investments Inc., member FINRA/SIPC.

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE © JPMorgan Chase & Co., October 2013

FOR INSTITUTIONAL/WHOLESALE OR PROFESSIONAL INVESTOR USE ONLY | NOT FOR RETAIL USE OR DISTRIBUTION

2014 Holiday Calendar | J.P. Morgan Global Liquidity