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JUPITER JAPAN INCOME - Fund overview

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Overview of JUPITER JAPAN INCOME

Despite the misleading name the manager is not specifically targeting companies with a high dividend yield; this fund aims to beat the total return of the Topix 1000. However, Simon Somerville does specifically target companies that generate high and increasing levels of cashflow. Typically this occurs where companies are in a growth phase. The manager has a good long term track record and his growth bias makes him distinctive from most other managers that UK investors can access.

Standard Initial Charge

5.25% 0.00%

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Fund summary

Sector  Japan
Product type  UNIT TRUST
Launched  September, 2005
Size  £491m
Yield 2.6%
Charging basis  Capital
Dividends paid  –
Bid price(inc) 46.33p
Bid price(acc) 52.37p

Fund Charges

Standard Initial charge 5.25%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.29%
Annual management charge 1.50%
Total expense ratio 1.76%
Reduction in yield (10yr) 1.79%

Bestinvest says


No information available.

Portfolio

jupiter japan income  asset allocation illustration
Allocation Proportion
Equity 98%
High yield bonds 0%
Quality bonds 0%
Property 0%
Commodities 0%
Hedge 0%
Fund cash 2%
jupiter japan income  equity geographic illustration
Allocation Proportion
UK 0%
Europe 0%
Nth America 0%
Japan 100%
Pacific 0%
Other Equity 0%
jupiter japan income  equity capitalisation illustration
Allocation Proportion
Large Caps 64%
Mid Caps 23%
Small Caps 13%

Investment process


The manager uses a quantitative screen called HOLT to screen for stocks which have the attributes for which he is searching. These includes, cash flow generation, earnings revisions and price momentum. The manager uses consensus earnings numbers.
After this Somerville interviews the management, he places great emphasis on their outlook regarding shareholders as Japanese companies are notoriously dismissive of shareholder priorities. Somerville also uses technical analysis to time investment decisions.
Despite the word 'Income' in the name of the fund Somerville does not specifically target a yield but his investment style is likely to produce one. His HOLT screen will identify companies with a high free cash flow whilst the emphasis on shareholder friendly management means that the company is more likely to pay a dividend. Japanese companies are infamous for not valuing shareholder wishes.

The value of your investments and the income from them can go down as well as up, and you can get back less than you originally invested. Past performance or any yields quoted should not be considered reliable indicators of future returns. Before investing in funds please check the specific risk factors on the key features document or refer to our risk warning notice as some funds can be high risk or complex; they may also have risks relating to the geographical area, industry sector and/or underlying assets in which they invest. Prevailing tax rates and relief are dependent on your individual circumstances and are subject to change.

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