Executive Summary
JPMorgan Progressive Multi-Strategy Fund Limited is a newly formed closed-ended investment company with an unlimited life. The Company has been established in order to provide investors with a way to gain an investment exposure to JPMorgan Progressive Multi-Strategy Fund (\Progressive Multi-Strategy Fund\) and its underlying funds. Progressive Multi-Strategy Fund, into which the Company will invest, is a sub-fund of JPMorgan Portfolio Strategies Funds 11 (\Portfolio Strategies Umbrella Fund\), a Luxembourg investment company with variable capital, managed by JPMorgan Asset Management (UK) Limited. Progressive Multi-Strategy Fund was launched in October 2006 with total assets of approximately T
