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JUPITER ASIAN INCOME L

Bestinvest LogoA focused large-cap Asia (ex Japan) and Australasia equity fund targeting both income and a decent total return.

PRICE (INC)

-

PRICE (ACC)

187.14p

INITIAL CHARGE

5.25%

0%

ANNUAL MANAGEMENT CHARGE

1.5%

ONGOING CHARGE

1.74%

YIELD

4.5%

1 YEAR
3.75%
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Prices as at 04 Dec 2023.

Fund commentary last updated 21 Apr 2023.

Past performance is not an indication of future performance.

Capital at risk.

To provide income together with the prospect of capital growth to achieve a return, net of fees, higher than that provided by the FTSE AW Asia Pacific Ex Japan index over the long term (at least five years). The Fund aims to provide a level of income at least 20% higher than provided by the FTSE AW Asia Pacific Ex Japan index. At least 70% of the Fund is invested in shares of companies based in the Asia Pacific region (excluding Japan but including Australia and New Zealand). Up to 30% of the Fund may be invested in other assets, including shares of companies based anywhere in the world, open-ended funds (including funds managed by Jupiter and its associates), cash and near cash.

Fund summary

SectorAsia Pacific Excluding Japan
StructureUNIT TRUST
LaunchedMarch 2016
Size£1,283m
Yield4.5%
Dividends paidFebruary, May, August, November

Charges

Standard Initial Charge5.25%
Initial Charge Via BestInvest0%
Additional Bid/Offer Spread0%
Annual Management Charge1.5%
Ongoing Charges Figure1.74%

Investment Process

The investment process combines both bottom-up and top-down economic analysis. Manager Jason Pidcock seeks between 30 and 35 highly liquid, quality companies most of which pay a dividend yield which is higher than that of the wider market. His focus is on robust companies with strong balance sheets, competitive advantages, high barriers to entry and scalable, sustainable business models. He also wants their management teams to be committed to sharing company profits with shareholders via dividends. Pidcock regularly meets with these managers and reads third-party research to build a clearer picture of a company. As part of his due diligence, he analyses companies’ balance sheets to understand how sustainable the free cash flow generation is and learns from managers how cash is deployed. Valuation is a key consideration and several metrics are used, including the price to earnings (P/E) and price to book (P/B) ratios, both relative to peers and the company’s own history. From an economic perspective, Pidcock considers the political, economic and currency drivers and risks which could negatively impact returns. This can act as a natural limit on portfolio concentration - even if the team believed that the region’s ten best companies were operating within a single sector in a single country, it is highly unlikely that they would allocate to all of them. Conviction drives position sizes, with the largest holdings capped at 7% at acquisition, and no holding likely to account for less than 1% of the portfolio, in order to preserve the concentrated approach. Most holdings have market valuations between $15billion and $60billion.

The information on this website is not intended to be advice or a recommendation to buy, sell or hold any investment mentioned. The value of investments and the income from them can go down as well as up and you may not get back the amount invested.

Past performance is not a guide to future performance. View full risk warning