A. Description of Advisory Firm This Brochure relates to the investment advisory services offered by JPMorgan Asset Management (UK) Limited (“JPMAM (UK)” or the “Adviser”). JPMAM (UK) is registered with the United States Securities and Exchange Commission (“SEC”) as an investment adviser pursuant to the Investment Advisers Act of 1940, as amended (the “Advisers Act”). JPMAM (UK) is also authorized and regulated by the Financial Conduct Authority of the United Kingdom. JPMAM (UK), together with 55I, LLC, Bear Stearns Asset Management Inc., Campbell Global, LLC, Highbridge Capital Management, LLC, J.P. Morgan Alternative Asset Management, Inc., J.P. Morgan Investment Management Inc. ("JPMIM"), JPMorgan Funds Limited, Security Capital Research & Management Incorporated, each an SEC registered investment adviser, various affiliated foreign investment advisers and the asset management division of JPMorgan Chase Bank, N.A. comprise the Asset Management ("AM") business of J.P. Morgan Asset & Wealth Management ("JPMAWM"). J.P. Morgan Asset Management ("JPMAM") is the marketing name for the AM businesses of JPMorgan Chase & Co. and its affiliates worldwide (“JPMC”). JPMC is a publicly traded global financial services firm.
JPMAM (UK) is wholly-owned by JPMorgan Asset Management International Limited, which is a subsidiary of JPMC. JPMAM (UK) was incorporated under the laws of England and Wales on February 27, 1974.
B. Description of Advisory Services The Adviser and its "Affiliates" (as defined in Key Terms) in JPMAM provide a broad range of investment strategies to meet the diverse requirements of their clients' investment needs. Information in this Brochure pertains to products and services offered to U.S. clients or marketed to U.S. investors.
The Adviser’s advisory services are offered on both a discretionary and non-discretionary basis through a variety of investment vehicles and arrangements,

depending on the strategy as further described below. Pooled Investment Vehicles The Adviser offers investment advisory services to a variety of pooled investment vehicles across its various strategies. These pooled investment vehicles generally include private funds. Investors generally invest directly in a pooled investment vehicle via a subscription agreement. Pooled investment vehicles managed by the Adviser are managed in accordance with each vehicle's investment guidelines and restrictions and are generally not tailored to the individual needs of any particular investor.
Below is a brief description of the investment strategies offered by the Adviser. The investment process may be Environmental, Social, and Governance ("ESG") integrated (as described in Item 8.A.). Major asset classes offered by the Adviser include:
•Alternatives, including European Real Estate, Infrastructure, Global Transportation, Private Capital, and Global Special Situations ("GSS") C. Availability of Customized Services for Individual Clients Where JPMAM (UK) is the investment adviser to a pooled investment vehicle, investment objectives, guidelines and any investment restrictions generally are not tailored to the needs of individual investors in those vehicles, but rather are described in the prospectus or other relevant offering document for such vehicle.
D. Wrap Fee Programs The Adviser does not participate in Wrap Fee Programs.
E. Assets Under Management As of December 31, 2023, JPMAM (UK) had assets under management in the amounts set forth below: Assets Under ManagementU.S. Dollar Amount Assets Managed on a Discretionary Basis$364,635,391,485 Assets Managed on a Non-Discretionary Basis$1,089,327,668 Total Regulatory Assets Under Management$365,724,719,153 Other Advisory Assets not included in Regulatory Assets Under Management$2,465,963,107 Total Assets Under Management$368,190,682,261