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  "authorName": "J.P. Morgan Asset Management",
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  "notes": "The slide uses a combination of bar charts and a data table to demonstrate investment performance consistency.",
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      "kind": "callout",
      "text": "The consistency of outperformance over cycles has resulted in top decile excess and risk adjusted returns since inception.",
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      "text": "Gross Excess Return",
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      "text": "Information Ratio",
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      "text": "Source: J.P. Morgan Asset Management; Frank Russell Company, Morningstar. Data as of 9/30/25. Rank vs. LCG SMA Morningstar Category. Past performance is not indicative of future returns.",
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      "text": "Consistency metrics for 5YR Rolling Excess Returns and Information Ratio",
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      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
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