Jupiter Monthly Alternative Income

Fund of investment trusts targeting a high level of income.

  • 28.27p
    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.

  • 118.99p
    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).

  • 1.72%
    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.

  • 4.60%
    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 21 September 2020, fund data last updated 01 October 2003

Fund summary

Sector Specialist
Structure UNIT TRUST
Launched March, 2000
Size £209m
Yield 4.60%
Charging basis Capital
Dividends paid 27th day of each month

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 1.72%

Allocation

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Investment process

The objective of the Fund is to achieve a high level of sustainable income with prospects of capital growth. The Fund’s investment policy is to attain the objective by investing principally in UK equities via various classes of investment trust securities, with some exposure to fixed interest securities. Holdings in investment trust securities comprise mainly ordinary income shares of split capital investment trusts and attention is drawn to the risks with such securities.

Manager research

Average monthly relative returns

  • 15/16 0.41%
  • 16/17 0.35%
  • 17/18 -1.19%
  • 18/19 -0.40%
  • 19/20 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.16%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 96.10%

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

Richard Curling

Curling joined Jupiter in March 2006. Previously he was managing director and Head of Small Cap at Deutsche Asset Management. In this position, which he held for more than ten years, he was responsible for managing the UK and European Small Cap team and running small cap equity mandates. Between 1996 and 2003, he was also Head of Global Small Cap, with responsibility for the global/EAFE Small Cap product. Curling is a Bachelor of Commerce from Edinburgh University and is an Associate of the Society of Investment Analysis.

Track record

Richard Curling has 22.7 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.16%. During the worst period of relative performance (from August 2000 - January 2003) there was a decline of 37% relative to the index. The worst absolute loss has been 67%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 96%.

Periods of worst performance

Absolute -67.00% (August 2000 - January 2003)
Relative -37.00% (August 2000 - January 2003)

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 31 July 2020

4.3755% Supermarket Income Reit
4.196% Biopharma Credit
3.9196% Hipgnosis Songs Limited C Npv
3.6619% Sequoia Economic Infrastructure Income
3.1582%3 i Infrastructure Plc
2.9909% Apax Global Alpha Limited Ord Npv
2.9638% Target Healthcare Reit Ltd
2.8822% Renewables Infrastructure Grp(The)
2.8626% Primary Health Properties
2.8046% Greencoat Uk Wind Plc
Source: Trustnet

Sector breakdown

Financials 92.00%
Money Market 2.00%
Consumer Discretionary 2.00%
Consumer Staples 2.00%
Others 1.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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