As originally communicated on July 30, 2024, the JPMorgan Research Market Neutral Fund (the “Fund”) corrected its financial statements for prior periods to account for the receipt of class action proceeds attributable to certain Fund holdings that had not been remitted to the Fund on a timely basis. J.P. Morgan Investment Management Inc. (“JPMIM”), the Fund’s investment adviser and administrator, provided notice via a supplement to the Fund’s Summary Prospectus that JPMIM was assessing the extent to which transactions in Fund shares were processed at incorrect net asset values (“NAVs”) and its intentions to remediate in accordance with the Fund’s applicable policies and procedures.

Working in consultation with SS&C (the Fund’s Transfer Agent), the independent registered public accounting firm to the Fund and a third-party forensic accountant firm engaged by Fund counsel on behalf of JPMIM, JPMIM is now implementing a remediation plan that, among other things, will compensate certain investors that were negatively impacted as a result of the Fund’s NAV being understated from April 29, 2019 through July 16, 2024 (the “Remediation Period”). JPMIM has enlisted the services of SS&C to first, determine shareholder remediation amounts by netting subscription and redemption activity at the shareholder level throughout the Remediation Period, and second, payment issuance of remediation amounts to certain impacted investors.