Jupiter Distribution and Growth

Invests primarily in UK equities, with some bond and convertible exposure.

  • 114.08p
    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.

  • 124.45p
    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?

  • 5.25% 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!

  • 1.50%
    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).

  • 1.80%
    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.

  • 3.70%
    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 13 December 2019, fund data last updated 16 October 2012

The objective of the fund is to achieve a high and rising income with capital growth. To achieve this the manager invests primarily in UK equities, though some convertible securities and bonds are also included. The latter make up around 20% of the portfolio and are chosen in conjunction with Jupiter’s fixed interest team – their inclusion enables the fund to hold some lower yielding equities whilst still meeting its overall income target.

Fund summary

Sector Mixed Investment 40-85% Shares
Structure UNIT TRUST
Launched February, 1996
Size £327m
Yield 3.70%
Charging basis Capital
Dividends paid 31 May, 30 Nov

Charges

Standard initial charge 5.25%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.80%

Allocation

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Investment process

This fund was once rated 3 stars by Bestinvest but was downgraded to a sell rating following a deterioration in performance. This rating was suspended following the announcement of the forthcoming retirement of manager Tony Nutt, who relinquished the fund in July 2013.

Manager research

Average monthly relative returns

  • 14/15 0.00%
  • 15/16 0.00%
  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career -0.08%
  • 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.

Alastair Gunn

Gunn joined Jupiter in 2007 as an analyst for the UK Equities Team. He is currently manager of the Jupiter High Income Fund and co-manager of the Jupiter Distribution Fund. Before joining Jupiter, he was Managing Director of equity research for Bear Stearns International, prior to moving on to become a director of equity research at Arbuthnot Securities in 2003. Gunn is a registered representative of the London Stock Exchange.

Track record

The track record of Alastair Gunn in managing mutual funds in this sector is still too short for us to draw any meaningful conclusions and so our assessment is based largely on qualitative aspects.

Periods of worst performance

Absolute -3.00% (February 2014 - March 2014)
Relative -3.00% (February 2014 - August 2014)

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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Top 10 holdings

Data accurate as at 30 August 2019

6.9501% Bp
5.6488% Royal Dutch Shell
5.0474% Glaxosmithkline
3.888% Hsbc Hldgs
3.1151% Bae Systems
2.4016% Astrazeneca Plc
2.3606% British American Tobacco
2.208% Legal & General Group
2.1928% Crest Nicholson Hldgs Plc
2.1294% Blackstone Group Lp
Source: Trustnet

Sector breakdown

Others 23.00%
Financials 17.00%
Oil & Gas 13.00%
Health Care 12.00%
Consumer Services 8.00%
Consumer Goods 8.00%
Industrials 7.00%
Technology 4.00%
Money Market 3.00%
Basic Materials 3.00%

Constraints

There are no formal constraints placed upon the fund by the group.

Key Investor Information - Income

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Key Investor Information - Accumulation

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