Bestinvest says
Jupiter's fund of funds team have proven themselves to be one of the best in the industry over a long period of time. The core team members have been together for over a decade and have proven astute judges of the economic environment during that time, participating in rising markets but perhaps more importantly providing some protection for investors' capital during times of trouble. Team head John Chatfeild-Roberts became Jupiter CIO in 2010, but has since recruited additional staff to maintain team strength.
The key driver of the process is the manager's view on the direction of the economy and markets. Chatfeild-Roberts subscribes to the view that the majority of added value from fund of funds products comes from having a view as to “what will happen next” and believes it is particularly important to accurately predict key economic turning points. The team then select funds and managers they believe will benefit from the expected conditions, both from within Jupiter and from other management groups. The fund invests primarily in equity funds across a diversified geographical range, as well as using specialist sector funds. Commodity, property and bond funds may also be included, although this will be at most a small part of the portfolio. Historically the manager has moved aggressively into cash during adverse market conditions. Fund selection includes both quantitative and qualitative analysis, with around 150 fund manager meetings taking place each year. Buy and sell decisions are subject to a vote amongst the team.