Jupiter Global Financial Innovation I

  • 146.52p
    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.

  • -
    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?

  • 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!

  • 0.75%
    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).

  • 1.08%
    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.

  • 0.00%
    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 09 April 2021

The fund seeks to achieve long term capital growth principally through investment worldwide in the equities of financial sector companies. The objectives and strategies are similar to the manager's existing long only Jupiter Financial Opportunities fund with a notable difference being that Financial Opportunities has to be 50% invested at all times. The International Financials fund may also use derivatives more extensively rather than simply for hedging purposes. The new fund also has a 15% performance fee.

Fund summary

Sector Specialist
Structure UNIT TRUST
Launched
Size £54m
Yield 0.00%
Charging basis
Dividends paid Acc units only

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Annual management charge 0.75%
Ongoing charges figure 1.08%

Allocation

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Investment process

The Fund invests in a global portfolio of equities, equity related securities (including derivatives), cash, near cash, fixed interest securities, currency exchange transactions, index linked securities, money market instruments (MMIs) and deposits. At times the portfolio may be concentrated in any one or a combination of such assets and, as well as holding physical long positions the manager may create synthetic long and short positions through derivatives. The manager's intention is that returns will be less volatile than stock market indices, although this cannot be guaranteed. The ability to short using derivatives means that the manager can take advantage of perceived over-valuations and aim to protect capital when financial stocks are falling. It is hoped that the smaller size of the Financial Opportunities fund should provide more flexibility to deal in smaller cap financials. The manager performs company research and analysis, focusing on quality of earnings. Concentrated portfolios are often formed with the manager reducing position size as shares approach fair value. Positions will generally be in large and mid-cap companies. Ideas are generated from 1) Company meetings 2) Internal Jupiter analysts 3) Other fund managers 4) Stockbroker sales & research 5) Media & conferences. The manager applies a top-down approach firstly identifying macro themes with stocks then being found to fit these themes. The manager has significant investments in the absolute return vehicles.

The manager has one of strongest long term track records across the industry. Whilst managing his previous Financial Opportunities mandate he made some astute asset allocation decisions which successfully protected investors capital going into the credit crisis and subsequently captured part of the rebound in prices.

Manager research

Average monthly relative returns

  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%
  • 19/20 0.00%
  • 20/21 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

Absolute 0.00% ()
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

Software 43.00%
Financial Services 32.00%
Support Services 21.00%
Retailers - General 10.00%
Property Shares 6.00%
Banks 5.00%
Insurance 4.00%
Hardware 2.00%

Portfolio

Sector exposure is expected to concentrate in the banking sector although positions may be taken in other sectors when the manager considers it appropriate for market conditions.

Key Investor Information

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