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Jpmorgan Investment Funds Société D’Investissement À Capital Variable, Luxembourg PT Relatório de contas Anual Auditado JPMorgan Investment Funds Société d’Investissement à Capital Variable, Luxembourg 31 de Dezembro de 2008 JPM Investment Funds_AR_FULL.indd 17 19.3.2009 8:20:25 Uhr JPMorgan Investment Funds Relatório de Contas Anual Auditado Em 31 de Dezembro de 2008 Índice Conselho de Administração 1 Gestão e Administração 2 Relatório do Conselho de Administração 3 Relatório dos Gestores de Investimento 4 Relatório de Auditoria 5 Demonstrações Financeiras e Informações Estatísticas DemonstraçãocombinadadeAtivosLíquidos 7-11 DemonstraçãoCombinadadeOperaçõeseAlteraçõesnosAtivosLíquidos 13-18 DemonstraçãodeAlteraçõesnoNúmerodeAções 19-23 InformaçõesEstatísticas 24-28 Notas às Demonstrações Financeiras 29-35 Lista de Investimentos JPMorganInvestmentFunds-BlueandGreenFund 36 JPMorganInvestmentFunds-EuroLiquidMarketFund 40 JPMorganInvestmentFunds-EuropeBondFund 42 JPMorganInvestmentFunds-EuropeRecoveryFund 46 JPMorganInvestmentFunds-EuropeSelectEquityFund 47 JPMorganInvestmentFunds-EuropeSelectMegaCapFund 50 JPMorganInvestmentFunds-EuropeShortDurationFund 53 JPMorganInvestmentFunds-EuropeStrategicDividendFund 55 JPMorganInvestmentFunds-GlobalBalancedFund(EUR) 59 JPMorganInvestmentFunds-GlobalBalancedFund(USD) 62 JPMorganInvestmentFunds-GlobalBondFund(EUR) 70 JPMorganInvestmentFunds-GlobalBondFund(USD) 75 JPMorganInvestmentFunds-GlobalCapitalAppreciationFund 80 JPMorganInvestmentFunds-GlobalCapitalPreservationFund(EUR) 86 JPMorganInvestmentFunds-GlobalCapitalPreservationFund(USD) 91 JPMorganInvestmentFunds-GlobalConvertiblesFund(USD) 95 JPMorganInvestmentFunds-GlobalDividendFund 99 JPMorganInvestmentFunds-GlobalEnhancedBondFund 102 JPMorganInvestmentFunds-Globalex-USSelectSmallCapFund 107 JPMorganInvestmentFunds-GlobalFinancialsFund 109 JPMorganInvestmentFunds-GlobalHealthtechFund 112 JPMorganInvestmentFunds-GlobalHighYieldBondFund 114 JPMorganInvestmentFunds-GlobalIncomeFund 117 JPMorganInvestmentFunds-GlobalSelect130/30Fund 121 JPMorganInvestmentFunds-GlobalSelectEquityFund 124 JPMorganInvestmentFunds-GlobalShortDurationFund 127 JPMorganInvestmentFunds-GlobalTeletechFund 129 JPMorganInvestmentFunds-GlobalTotalReturnFund 131 JPMorganInvestmentFunds-HighbridgeStatisticalMarketNeutralFund 134 JPMorganInvestmentFunds-IncomeOpportunityFund 137 JPMorganInvestmentFunds-Japan50EquityFund 142 JPMorganInvestmentFunds-JapanBehaviouralFinanceEquityFund 144 JPMorganInvestmentFunds-JapanFocusFund 146 JPMorganInvestmentFunds-JapanSelectEquityFund 148 JPMorganInvestmentFunds-JapanStrategicValueFund 151 JPMorganInvestmentFunds-JFAsiaex-JapanFund 153 JPMorganInvestmentFunds-USBondFund 154 JPMorganInvestmentFunds-USDisciplinedEquityFund 160 JPMorganInvestmentFunds-USDynamicSmallCapFund 163 JPMorganInvestmentFunds-USEquityFund 167 JPMorganInvestmentFunds-USMarketNeutralFund 170 JPMorganInvestmentFunds-USSelectEquityFund 172 Anexo: Informações Adicionais Não Auditadas QuocientedeDespesadoFundoeQuocientedeDespesaLimitada 175 ResumodosObjetivosdeInvestimentodosSubfundos 182 RendimentoeVolatilidade 185 TaxadeJurosRecebida/(Cobrada)sobreasContasBancárias 192 ClassesdeAçõesdosSubfundossujeitasaumataxed’abonnementde0,01% 192 ClassesdeAçõesdosSubfundosIsentasdetaxed’abonnement 192 ÍndicedeMovimentaçãodaCarteiradeInvestimento 193 DemonstraçõesHistóricasdeAlteraçõesnoNúmerodeAções 194 Para obter informações adicionais consulte www.jpmorganassetmanagement.com Não podem ser aceites subscrições com base exclusiva neste relatório. As subscrições apenas são válidas quando efetuadas com base no prospecto em vigor, o prospecto atual simplificado, acompanhado pelo último relatório anual auditado e pelo último relatório semestral não auditado, caso este tenha sido publicado posteriormente. O prospecto actual, o prospecto actual simplificado, o relatório e contas semestrais não auditados, assim como o relatório anual auditado, podem ser obtidos gratuitamente mediante pedido à sede social da SICAV e aos agentes pagadores. JPMorgan Investment Funds Conselho de Administração Presidente Vice-Presidente Iain O.S. Saunders Pierre Jaans Banqueiro Economista Duine, Ardfern 3, rue de Kahler Argyll PA31 8QN L-8356 Garnich Reino Unido Grão-Ducado de Luxemburgo Directores André Elvinger (até 31 de Dezembro de 2008) Jacques Elvinger (a partir de 1 de Janeiro de 2009) Sócio Sócio Elvinger, Hoss & Prussen Elvinger, Hoss & Prussen 2, Place Winston Churchill 2, place Winston Churchill L-2014 Luxembourg L-2014 Luxembourg Grão-Ducado de Luxemburgo Grão-Ducado de Luxemburgo Jean Frijns Andrea L. Hazen Professor de Finanças e Investimento Director Executivo Antigonelaan 2 JPMorgan Asset Management (UK) Limited NL-5631 LR Eindhoven 20 Finsbury Street Países Baixos London EC2Y 9AQ Reino Unido Berndt May Director Executivo Robert Van der Meer JPMorgan Asset Management (Europe) S.à r.l. Professor de Finanças Austrian Branch 9A Lange Vijverberg Führichgasse 8 NL-2513 AC The Hague A-1010 Vienna Países Baixos Áustria Mudanças na Composição do Conselho de Administração No dia 31 de Dezembro de 2008, o Sr. André Elvinger pediu demissão do Conselho de Administração. Em seu lugar foi cooptado o Sr. Jacques Elvinger, como Diretor, em 1° de Janeiro de 2009. Sede Social European Bank & Business Centre 6, route de Trèves L-2633 Senningerberg Grão-Ducado de Luxemburgo 1 JPMorgan Investment Funds Gestão e Administração Em 31 de Dezembro de 2008 Empresa Gestora, Agente de Registo e Transferências, Distribuidor Mundial e Agente Domiciliário: JPMorgan Asset Management (Europe) S.à r.l. European Bank & Business Centre 6, route de Trèves L-2633 Senningerberg Grão-Ducado de Luxemburgo Gestores de Investimento J.P. Morgan Investment Management Inc. 245 Park Avenue New York, NY 10167 Estados Unidos da América JPMorgan Asset Management (Japan) Limited Tokyo Building 7-3 Marunouchi 2-Chome Chiyoda-Ku Tokyo 100-6432, Japão JPMorgan Asset Management (UK) Limited 20 Finsbury Street London EC2Y 9AQ Reino Unido JF Asset Management Limited 21st floor, Chater House 8 Connaught Road Central, Hong Kong Highbridge Capital Management LLC, 9 West 57th Street New York, NY 10019 Estados Unidos da América American Century Global Investment Management Inc. 666 Third Avenue New York, NY 10017 Estados Unidos da América JF Asset Management (Singapore) Limited 168 Robinson Road 17th Floor, Capital Tower Cingapura 068912 Depositário, Agente Empresarial e Agente Administrativo J.P. Morgan Bank Luxembourg S.A. European Bank & Business Centre 6, route de Trèves L-2633 Senningerberg Grão-Ducado de Luxemburgo Auditores Independentes PricewaterhouseCoopers S.à r.l. Réviseur d’entreprises 400, route d’Esch BP 1443 L-1014 Luxembourg Grão-Ducado de Luxemburgo Consultores Jurídicos Elvinger, Hoss & Prussen 2, place Winston Churchill L-2014 Luxembourg Grão-Ducado de Luxemburgo 2 JPMorgan Investment Funds Relatório do Conselho de Administração Em 31 de Dezembro de 2008 O Conselho de Administração tem o prazer de apresentar o Relatório Anual Auditado para o ano findo em 31 de Dezembro de 2008. Estrutura e Tamanho do Fundo: O Fundo é uma empresa de investimento de capital variável com múltiplos subfundos, constituída como uma sociedade anónima ao abrigo das leis do Grão-Ducado de Luxemburgo. O Fundo é constituído como uma entidade coletiva que abriga vários subfundos, cada qual com sua própria política e restrições de investimento. Até o fim do ano, o Fundo havia emitido ações em 42 Subfundos. Durante o ano, foram lançados os seguintes Subfundos: • JPMorgan Investment Funds - Japan Focus Equity Fund • JPMorgan Investment Funds - Global Income Fund Durante o ano, os nomes dos seguintes Subfundos foram alterados: • JPMorgan Investment Funds - Global 50 Equity Fund passou a ser chamado JPMorgan Investments Funds - Global Select 130/30 Fund. • JPMorgan Investment Funds - JF Asia Diversified Fund passou a ser chamado JPMorgan Investment Funds - JF Asia ex-Japan Fund. • JPMorgan Investment Funds - Global Total Return Fund (EUR) passou a ser chamado JPMorgan Investment Funds - Global Total Return Fund. • JPMorgan Investment Funds - Highbridge Income Opportunity Fund passou a ser chamado JPMorgan Investment Funds - Income Opportunity Fund. Durante o ano, vários Subfundos foram liquidados; os dados desses subfundos constam na Nota 13 na página 35. Esta Nota também dá as datas em que foram alterados os nomes listados acima. No decurso do ano, os ativos líquidos totais do Fundo diminuíram de USD 21,4 biliões para USD 12,5 biliões no final do ano. Além disso, o Conselho de Administração do JPMorgan Investment Funds decidiu que o dia 31 de Dezembro seria um dia útil adicional para transações no Fundo. O Fundo é qualificado como um Empreendimento para Investimentos Colectivos em Valores Mobiliários Transferíveis de acordo com a Directriz emendada EC 85/611 de 20 de Dezembro de 1985 e, portanto, pode ser oferecido para venda nos Estados Membros da União Europeia, sujeito ao registro noutros países que não o Grão-Ducado de Luxemburgo. Além disso, o registro do Fundo e dos seus subfundos pode ser requerido noutros países. Atualmente, o Fundo e os subfundos estão registrados para oferta e distribuição no Grão-Ducado de Luxemburgo e nas seguintes jurisdições: Áustria, Bélgica, Chile, Dinamarca, Finlândia, França, Alemanha, Grécia, Hong Kong, Irlanda, Itália, Macau, Países Baixos, Noruega, Portugal, Cingapura, Espanha, Suécia, Suíça, Taiwan e Reino Unido. Avaliação Justa dos Ativos Na gestão dos fundos cujos preços são formados diariamente, o princípio do Conselho de Administração é de assegurar a avaliação adequada das carteiras de investimento
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