# EDGAR Filing Document

**Accession Number:** 0001217286
**File Stem:** 0001193125-25-168010
**Filing Date:** 2025-7
**Character Count:** 10949
**Document Hash:** 5b2f77bcd747ce2e74a6b4da90af92b3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-168010.hdr.sgml**: 20250729

**ACCESSION NUMBER**: 0001193125-25-168010

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250729

**DATE AS OF CHANGE**: 20250729

**EFFECTIVENESS DATE**: 20250729

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JPMorgan Trust I
- **CENTRAL INDEX KEY:** 0001217286

**ORGANIZATION NAME:**
- **EIN:** 331043149
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-103022
- **FILM NUMBER:** 251162080

**BUSINESS ADDRESS:**
- **STREET 1:** 277 PARK AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10172
- **BUSINESS PHONE:** 800-480-4111

**MAIL ADDRESS:**
- **STREET 1:** 277 PARK AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10172

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** JP MORGAN MUTUAL FUND SERIES
- **DATE OF NAME CHANGE:** 20030204

## Series and Classes Contracts Data

### JPMorgan Research Market Neutral Fund (Series ID: S000002614)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | JMNAX         | C000007189 |
| Class C    | JMNCX         | C000081099 |
| Class I    | JMNSX         | C000081100 |

---

## Series and Classes Contracts Data

### JPMorgan Research Market Neutral Fund (Series ID: S000002614)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000007189 | Class A      | JMNAX           |
| C000081099 | Class C      | JMNCX           |
| C000081100 | Class I      | JMNSX           |

**J.P. MORGAN SPECIALTY FUNDS** 

**JPMORGAN TRUST I** 

JPMorgan Research Market Neutral Fund

*(All Share Classes)* 

*(the "Fund")* 

**Supplement dated July 29, 2025** 

**to the current Summary Prospectuses, Prospectus,** 

**and Statement of Additional Information, as supplemented** 

**Portfolio Manager Retirement during the third quarter of 2026.** Steven Lee has announced his retirement from J.P. Morgan Investment Management Inc. during the third quarter of 2026. Mr. Lee will continue to serve on the portfolio management team of the JPMorgan Research Market Neutral Fund until his retirement. In anticipation of Mr. Lee's retirement, effective immediately, Susan Bao, Timothy Woodhouse and Andrew Stern are added as portfolio managers for the Fund, and upon Mr. Lee's retirement the current portfolio managers, David Small, Danielle Hines, Susan Bao, Timothy Woodhouse and Andrew Stern will continue to be responsible for the day-to-day management of the Fund.

Effective immediately, the portfolio manager information in the **"Risk/Return Summary — Management"** section of the Fund's Summary Prospectuses and Prospectus is deleted in its entirety and replaced with the following:

**Management** 

J.P. Morgan Investment Management Inc. (the adviser)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Portfolio Manager** | **Managed the<br>Fund Since** | **Primary Title with<br>Investment Adviser** |
| &nbsp;&nbsp;&nbsp;Steven Lee\* | 2014 | Managing Director |
| &nbsp;&nbsp;&nbsp;David Small | 2023 | Managing Director |
| &nbsp;&nbsp;&nbsp;Danielle Hines | 2023 | Managing Director |
| &nbsp;&nbsp;&nbsp;Susan Bao | 2025 | Managing Director |
| &nbsp;&nbsp;&nbsp;Timothy Woodhouse | 2025 | Managing Director |
| &nbsp;&nbsp;&nbsp;Andrew Stern | 2025 | Executive Director |

---

\* Mr. Lee has announced his retirement from the adviser during the third quarter of 2026. Mr. Lee will continue to serve on the portfolio management team of the Fund until his retirement, and upon his retirement the current portfolio managers, Mr. Small, Ms. Hines, Ms. Bao, Mr. Woodhouse and Mr. Stern will continue to be responsible for the day-to-day management of the Fund. 

In addition, the **"The Funds' Management and Administration — The Portfolio Managers"** section of the Prospectus is deleted in its entirety and replaced with the following:

In their capacity as portfolio managers, Steven G. Lee, Managing Director of JPMIM, David Small, Managing Director of JPMIM, Danielle Hines, Managing Director of JPMIM and CFA charterholder, Susan Bao, Managing director of JPMIM and CFA charterholder, Timothy Woodhouse, Managing Director of JPMIM and CFA charterholder, and Andrew Stern, Executive Director of JPMIM and CFA charterholder, work with the U.S. Equity Group to manage the portfolio construction processes for the Fund. Mr. Lee has been a portfolio manager since 2014 and prior to that time he was a research analyst in the U.S. Equity Research Group. Mr. Lee has been an employee of JPMIM or one of its affiliates (or one of their predecessors) since 2004. Mr. Small has been a portfolio manager in the U.S. Equity Group since July 2016 and is the Director of U.S. Equity Research at J.P. Morgan Asset Management. Mr. Small has been an employee of JPMIM or its affiliates (or one of their predecessors) since 2005. Ms. Hines has been a portfolio manager in the U.S. Equity Group since December 2023 and is the Associate Director of U.S. Equity Research at J.P. Morgan Asset Management. Ms. Hines has been an employee of JPMIM or its affiliates (or one of their predecessors) since 2011. Ms. Bao has been a portfolio manager in the U.S. Equity Group since 2001 and has been employed by the firm since 1997. Mr. Stern is a portfolio manager in the U.S. Equity Group and has been an employee of JPMIM or its affiliates (or one of its predecessors) since 2008. Mr. Woodhouse, is a portfolio manager within the J.P. Morgan Asset Management Global Equity Group and has been an employee of JPMIM or its affiliates (or one of its predecessors) since 2008.

Mr. Lee has announced his retirement from JPMIM during the third quarter of 2026. Mr. Lee will continue to serve on the portfolio management team of the Fund until his retirement, and upon his retirement the current

**SUP-RMN-PM-725** 

------

portfolio managers, Danielle Hines, David Small, Susan Bao, Timothy Woodhouse and Andrew Stern will assume full authority of the day-to-day management of the Fund.

Effective immediately, the table in the **"Portfolio Managers — Portfolio Managers' Other Accounts Managed"** section of the Statement of Additional Information ("SAI") with respect to the Fund is hereby deleted in its entirety and replaced with the following:

The following table shows information regarding the other accounts managed for which advisory fees are not based on the performance of the accounts that are managed by each portfolio manager of the Fund as of June 30, 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Non-Performance Based Fee Advisory Accounts** | **Non-Performance Based Fee Advisory Accounts** | **Non-Performance Based Fee Advisory Accounts** | **Non-Performance Based Fee Advisory Accounts** | **Non-Performance Based Fee Advisory Accounts** | **Non-Performance Based Fee Advisory Accounts** |
|  | **Registered Investment<br>Companies** | **Registered Investment<br>Companies** | **Other Pooled Investment<br>Vehicles** | **Other Pooled Investment<br>Vehicles** | **Other Accounts** | **Other Accounts** |
|  | **Number<br>of<br>Accounts** | **Total Assets<br>($thousands)** | **Number<br>of<br>Accounts** | **Total Assets<br>($thousands)** | **Number<br>of<br>Accounts** | **Total Assets<br>($thousands)** |
|  **Research Market Neutral Fund** |  |  |  |  |  |  |
| Steven Lee\* | 1 | 3340574 | 4 | 13119709 | 1 | 622107 |
| David Small | 2 | 11968437 | 4 | 3006711 | 19 | 8017740 |
| Danielle Hines | 2 | 11968437 | 4 | 3006711 | 19 | 8017740 |
| Susan Bao | 1 | 3340574 | 4 | 13119709 | 1377 | 2137249 |
| Timothy Woodhouse | 0 | 0 | 7 | 21782266 | 8 | 5567295 |
| Andrew Stern | 7 | 30603394 | 3 | 1869727 | 0 | 0 |

---

\* Mr. Lee has announced his retirement from JPMIM during the third quarter of 2026. Until his retirement, Mr. Lee will continue to serve on the portfolio management team.

The following table shows information regarding the other accounts managed by each portfolio manager of the Fund that have advisory fees wholly or partly based on performance as of June 30, 3025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Performance Based Fee Advisory Accounts** | **Performance Based Fee Advisory Accounts** | **Performance Based Fee Advisory Accounts** | **Performance Based Fee Advisory Accounts** | **Performance Based Fee Advisory Accounts** | **Performance Based Fee Advisory Accounts** |
|  | **Registered Investment<br>Companies** | **Registered Investment<br>Companies** | **Other Pooled Investment<br>Vehicles** | **Other Pooled Investment<br>Vehicles** | **Other Accounts** | **Other Accounts** |
|  | **Number<br>of<br>Accounts** | **Total Assets<br>($thousands)** | **Number<br>of<br>Accounts** | **Total Assets<br>($thousands)** | **Number<br>of<br>Accounts** | **Total Assets<br>($thousands)** |
|  **Research Market Neutral Fund** |  |  |  |  |  |  |
| Steven Lee\* | 0 | 0 | 0 | 0 | 1 | 1684841 |
| David Small | 0 | 0 | 0 | 0 | 6 | 5707303 |
| Danielle Hines | 0 | 0 | 0 | 0 | 6 | 5707303 |
| Susan Bao | 0 | 0 | 0 | 0 | 0 | 0 |
| Timothy Woodhouse | 0 | 0 | 0 | 0 | 0 | 0 |
| Andrew Stern | 0 | 0 | 0 | 0 | 0 | 0 |

---

\* Mr. Lee has announced his retirement from JPMIM during the third quarter of 2026. Until his retirement, Mr. Lee will continue to serve on the portfolio management team.

------

In addition, effective immediately, the table in the **"Portfolio Managers — Portfolio Managers' Ownership of Securities"** section of the SAI with respect to the Fund is hereby deleted in its entirety and replaced with the following:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Aggregate Dollar Range of Securities in the Fund** | **Aggregate Dollar Range of Securities in the Fund** | **Aggregate Dollar Range of Securities in the Fund** | **Aggregate Dollar Range of Securities in the Fund** | **Aggregate Dollar Range of Securities in the Fund** | **Aggregate Dollar Range of Securities in the Fund** | **Aggregate Dollar Range of Securities in the Fund** |
|  | **None** | **$1-<br>$10000** | **$10001-<br>$50000** | **$50001-<br>$100000** | **$100001-<br>$500000** | **$500001-<br>$1000000** | **Over<br>$1,000,000** |
|  **Research Market Neutral Fund** |  |  |  |  |  |  |  |
| Steven Lee\* | Steven Lee\* |  |  |  |  |  | X |
| David Small |  |  |  |  |  | X |  |
| Danielle Hines |  |  |  | X |  |  |  |
| Susan Bao\*\* |  |  |  |  |  |  | X |
| Timothy Woodhouse\*\* | X |  |  |  |  |  |  |
| Andrew Stern\*\* |  |  | X |  |  |  |  |

---

\* Mr. Lee has announced his retirement from JPMIM during the third quarter of 2026. Until his retirement, Mr. Lee will continue to serve on the portfolio management team.

\*\* As of 6/30/25

**INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE** 

**SUMMARY PROSPECTUSES, PROSPECTUS AND STATEMENT OF ADDITIONAL** 

**INFORMATION FOR FUTURE REFERENCE**