JPMorgan Floating Rate Income Fund adds portfolio manager Engelbert

By Toni Weeks

San Luis Obispo, Calif., Feb. 11 - J.P. Morgan Funds announced that Chad A. Engelbert has joined the portfolio management team for the JPMorgan Floating Rate Income Fund, according to a 497 filing with the Securities and Exchange Commission.

Engelbert joins existing portfolio managers William J. Morgan and James P. Shanahan Jr. in the day-to-day management of the fund. An employee of J.P. Morgan Investment Management Inc. or its predecessor firms since 2000, Engelbert has 17 years of investment experience and is a high-yield credit analyst currently covering the utility, textiles, pipelines, distributors and retail industries.

Cory Pollock is no longer part of the portfolio management team.

The fund seeks to provide current income with a secondary objective of capital appreciation. Under normal circumstances, it will invest at least 80% of its assets in floating-rate instruments, with up to 100% of its total assets invested in high-yield or unrated securities.

New York-based J.P. Morgan Investment Management is the investment adviser to the fund.

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