A news release said the Class R6 Shares are designed for employer sponsored retirement plans that wish to separately report their mutual fund expenses, such as investment management fees, from their plan-level recordkeeping and other administrative and marketing fees. Previously, eight of the funds were designated as Ultra shares.

The Class R6 Shares will have an investment advisory fee and other traditional fund expenses, but will not have Rule 12b-1 or shareholder servicing fees.  “Because the new Class R6 Shares will allow for individual reporting of fund level and plan-level service fees, plan sponsors will have the ability to simplify participant communication through separate disclosure of the applicable fees,” said David Musto, Head of J.P. Morgan’s Defined Contribution Investment Solutions business, in the announcement.

Those eligible for the Class R6 Shares will include defined contribution and defined benefit plans, Section 529 plans, and certain direct investors and discretionary investment management accounts within J.P. Morgan Investment Management and its affiliates, if such investors meet applicable minimum and eligibility requirements.