JP Morgan Chase 2015 Annual Report Download - page 70

Data as of 12/31/15. Percentage outperformance vs. benchmark based on rolling 5-year monthly periods going back 10 years (or since fund inception in 2006 for SmartRetirement 2030). All excess returns
calculated vs. primary prospectus benchmarks. Category percentile ranks are calculated vs. respective Morningstar categories. Institutional share classes used for Disciplined Equity and SmartRetirement 2030.
Select share class used for Core Bond. All performance is net of fees.
For additional important information, please refer to the Investor Day presentation’s notes appendix beginning on slide 23.
Disciplined Equity Fund
10-year average alpha 40 bps (11th percentile)
Core Bond Fund
10-year average alpha 27 bps (28th percentile)
SmartRetirement 2030 Fund
Average alpha 83 bps since inception (1st percentile)
2010—2015 rolling 5-year periods 2010—2015 rolling 5-year periods 2011—2015 rolling 5-year periods 
Outperformed benchmark 97% of the time Outperformed benchmark 98% of the time Outperformed benchmark 100% of the time
Investment Process Has Led to Strong Results vs. Benchmark and Peers
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about how to capitalize on market
opportunities for our clients – a group
that includes 60% of the world’s larg-
est pension funds, sovereign wealth
funds and central banks.
At the end of 2015, 84% of our
10-year, long-term mutual fund assets
under management (AUM) ranked in
the top two quartiles. That collective
performance is complemented by
equally strong asset class performance
in Equity (87%), Fixed Income (77%)
and Multi-Asset Solutions (84%),
resulting in a record 231 of our mutual
funds earning a four- or five-star rat-
ing and positive client asset flows
every year since 2004.
In addition to our existing suite of
mutual funds, we remain focused on
product innovation. In 2015, we intro-
duced 40 new funds. At the same
time, we closed down or merged 37 to
help ensure that we are oering an
optimized portfolio of products to our
clients and that they are benefiting
from our best performance.
Strong financial performance
Our consistently strong investment
performance is one of the primary
reasons we have been able to con-
tinue to produce strong financial
results for shareholders. In 2015,
Asset Management generated
record revenue of $12.1 billion in
a challenging environment.
It also is the reason we have been
able to grow our AUM and client
assets consistently. Since 2010, our
assets under management have
increased by an annual rate of 6% to
$1.7 trillion, and our client assets have
grown 5% annually to $2.4 trillion.
The credit side of our business con-
tinues to be an important driver of
our growth, with both loan balances
(excluding mortgages) and mortgage
balances reaching record levels of
$84 billion and $27 billion, respec-
tively, in 2015.
Investing in talent and technology
Talent and technology continue to be
at the center of our success, both
today and in the future. We need to
have the best people on the ground
and ready to work with clients
wherever they need our solutions
and expertise. And those people need
to be armed with technology tools
that enable them to serve clients
eciently and eectively.
Training top advisors
As a business, we are constantly edu-
cating our advisors to ensure that
they are at the forefront of industry
trends and important compliance
and controls issues. Last year, over
850,000 hours of training were com-
pleted across more than 750 Asset
Management programs. This compre-
hensive curriculum covers topics rang-
ing from markets and economy to
product innovation to understanding
cybersecurity to regulatory changes
and additional advisory skills.
Improving the client experience
Technology is playing a critical role in
improving the client experience. For
example, Global Wealth Management
(GWM) is developing a digital strat-
egy that will enable clients to engage
with us how and when they want,
using the channels they want. Our
goal is to complement the advice and
solutions our people oer with tools
for clients that want to interact or
consume our thought leadership in
new ways.
Increasing eciency
Technology also enables us to be
more ecient across our business,