Jupiter Ecology

Global equity fund investing only in environmental and socially responsible companies.

  • 412.13p
    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.

  • 413.60p
    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?

  • 5.00% 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).

  • 1.69%
    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.

  • 0.20%
    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 01 March 2016

Launched in 1988, this fund was the UK's first authorised green unit trust. It invests internationally in companies that provide solutions to environmental and social challenges. The fund manager, Charlie Thomas, believes that these companies will have a long-term structural impact across three key areas: infrastructure, resource efficiency and demographics. This fund suits the portfolios of both green and ethical investors.

Fund summary

Sector Global
Structure UNIT TRUST
Launched April, 1988
Size £522m
Yield 0.20%
Charging basis Income
Dividends paid 31 May, 30 Nov

Charges

Standard initial charge 5.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 1.69%

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Investment process

The fund has a global remit and focuses on companies which provide solutions to environmental and social problems. The manager uses a bottom-up approach when selecting stocks rather than targeted asset allocation. Any weightings to the energy sector will always be investments in environmental technologies i.e. fossil free and in the alternative energy sub-sector. This leaves a universe of roughly 1,200 stocks for the manager to build the portfolio, using more traditional fund manager analysis of valuation metrics and qualitative research. Jupiter also carries out ethical screening, with the fund's exclusions including any company that derives more than 10% of its turnover from the following activities: alcohol, animal testing for cosmetic products, gambling, nuclear power, pornography, tobacco and weapons. However, given the green bias such companies would typically not enter the universe in the first place.

Manager Charlie Thomas has an impressive CV, which includes an MSc in Environmental Technology from Imperial College, London, spells as an environmental policy adviser at BP and working for the United Nations Environment Programme. He also benefits from the support of a strong environmental and sustainability team at Jupiter. Investors should be aware that the mandate of this fund means that its composition and performance are likely to differ greatly from its MSCI World benchmark. The fund has a bias towards small and mid cap companies and excludes large parts of the market from its investable universe.

Manager research

Average monthly relative returns

  • 14/15 -0.25%
  • 15/16 -0.18%
  • 16/17 0.02%
  • 17/18 -0.79%
  • 18/19 -0.14%

Bestinvest MRI

  • 3 years -0.30%
  • 5 years -0.27%
  • Career -0.11%
  • 3 years 19.80%
  • 5 years 18.90%
  • Career 43.30%

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

Charlie Thomas

Thomas joined the Jupiter Green Department in 2000, working as an analyst for a year before joining the SRI fund management team. He now runs the Jupiter Green IT, Climate Change Solutions and Jupiter Ecology Funds. Previously he spent three years at BP where he was a commercial analyst and environmental policy advisor and was involved in developing strategic environmental policies. In the past he has also worked with the UN Environment Programme and other financial institutions. Thomas has a BSc from Nottingham University and an MSc in Environmental Technology from Imperial College, London.

Track record

Charlie Thomas has 16.1 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.11%. During the worst period of relative performance (from July 2008 - August 2019) there was a decline of 41% relative to the index. The worst absolute loss has been 40%.

Periods of worst performance

Absolute -40.00% (October 2007 - February 2009)
Relative -41.00% (July 2008 - August 2019)

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

3.2999% Azbil Corp
2.9977% Orsted
2.9711% Xylem Inc
2.8755% Waste Connections Inc
2.65% Veolia Environnement
2.5981% Itron Inc
2.5548% Republic Services Inc
2.5475% Vestas Wind Systems
2.5409% Smith(A.o.)Corp
2.394% Tomra Systems Asa
Source: Trustnet

Sector breakdown

Electronic & Electrical Equipment 20.00%
Support Services 16.00%
Industrials 13.00%
Others 13.00%
Building & Construction 7.00%
Alternative & Renewable Energy 6.00%
Utilities 6.00%
Automotive 5.00%
Chemicals 5.00%
Travel 4.00%

Portfolio

The fund generally holds around 70-90 companies selected from a universe of 1,200 stocks which meet the fund's criteria.

Constraints

There are no formal constraints on theme and regional weightings. 5% msax in single stock.

Key Investor Information - Income

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Key Investor Information - Accumulation

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