Jupiter Distribution

  • 56.57p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • 103.48p
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 4.50% 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 1.25%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 1.39%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 2.30%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 22 September 2020, fund data last updated 19 February 2009

Invests in both fixed interest and equities with the objective of achieving a sustainable income with capital growth over the long-term. Management responsibilities are split between John Hamilton for fixed interest, accounting for circa 60%-65% of the fund and Anthony Nutt for equity investments. With regards the equity portion a pragmatic view to stockpicking is taken, typically focusing on growth stocks with strong fundamentals.

Fund summary

Sector Mixed Investment 0-35% Shares
Structure UNIT TRUST
Launched
Size £595m
Yield 2.30%
Charging basis Capital
Dividends paid 27th day of each month

Charges

Standard initial charge 4.50%
Initial charge via Bestinvest 0.00%
Annual management charge 1.25%
Ongoing charges figure 1.39%

Allocation

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Investment process

The corporate bonds elimant of the fund provides the majority of the income while the UK equity holdings are intended to provide some yield and the majority of capital growth. John Hamilton manages the corporate bond portion, which is dominated with UK issues, although there are some European and North American holdings. He targets relative value anomalies and prefers a broadly diversified portfolio. Anthony Nutt takes a pragmatic view to stock picking, focusing upon fundamentals and could be considered as a Growth At a Reasonable Price (GARP) investor. He targets companies with sustainable business models, which generally tend to be larger cap stocks.

This fund is an alternative to an equity income portfolio and follows a more balanced approach towards enhancing income, whilst aiming to reduce the volatility of underlying capital. The fund is suitable for those looking for above average income, with some growth potential and benefits from the experience of two highly respected managers. However, our favoured fund in this space is Invesco Perpetual Distribution.

Manager research

Average monthly relative returns

  • 15/16 0.00%
  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%
  • 19/20 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Track record

Periods of worst performance

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Relative 0.00% ()

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

Allocation

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Sector breakdown

Others 73.00%
Money Market 5.00%
Health Care 5.00%
Financials 4.00%
Consumer Services 3.00%
Industrials 3.00%
Consumer Goods 2.00%
Oil & Gas 2.00%
Basic Materials 2.00%
Technology 1.00%

Portfolio

Approximately 65% of the fund invests within corporate bonds, convertibles and other fixed interest securities. The remaining 35% is invested largely within high yielding UK equities.

Key Investor Information - Income

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Key Investor Information - Accumulation

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