Undiscovered Managers Behavioral Value Fund - R6

The Undiscovered Managers Behavioral Value Fund - R6 (UBVFX) is an actively managed open-end mutual fund offered by JPMorgan Distribution Services, Inc., designed to seek long-term capital appreciation by investing primarily in common stocks of U.S. small-capitalization companies with value characteristics, benchmarked against the Russell 2000 Value Index. The fund distinguishes itself through its application of behavioral finance principles, seeking to capitalize on market inefficiencies driven by investor biases — specifically targeting companies exhibiting significant insider buying, stock repurchases, or evidence of overreaction that has caused undervaluation. With approximately $9.1 billion in total fund assets and a net expense ratio of 0.80%, UBVFX holds a diversified portfolio of roughly 100 equity positions, with top sector concentrations in Financial Services, Consumer Cyclical, and Industrials. The fund has earned a Morningstar Gold Medalist Rating, reflecting its strong management team, sound investment process, and a consistent track record of outperforming its category index by an annualized 2.6 percentage points over a 10-year period.