Jupiter UK Mid Cap R

  • 299.60p
    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.

  • 384.40p
    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!

  • 0.85%
    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).

  • 0.85%
    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.

  • 0.30%
    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 09 April 2021

The fund targets capital growth from a portfolio of medium-sized UK equities. Manager Richard Watts uses a combination of top down and bottom up research to find what he believes to be under-researched, and therefore mis-priced, companies, principally from the FTSE 250 index. Stock selection usually highlights above-average earnings growth, revisions in earnings or potential for re-rating, and the overall portfolio typically has a bias to growth stocks.

Fund summary

Sector UK All Companies
Structure OEIC
Launched
Size £3,361m
Yield 0.30%
Charging basis Income
Dividends paid 30 Sep

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Annual management charge 0.85%
Ongoing charges figure 0.85%

Allocation

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Investment process

The fund seeks capital growth from investment primarily in medium sized UK companies. The managers believe these are less well researched than large companies, creating price inefficiencies which they aim to exploit using a combination of top-down and bottom-up analysis. The managers use a range of economic indicators to guide the overall portfolio balance. The managers believe no one style works consistently so both growth and value stocks will be held, dependant on the state of the economic cycle. The bottom-up analysis focuses on stocks with at least one of the following attributes: (i) Consistently superior earnings growth; (ii) Likelihood of positive earnings revisions; (iii) Potential for a re-rating. In identifying these, stocks are initially put through a valuation filter before qualitative issues are considered such as market positioning, economic sensitivity, management quality and financial stability.

Whilst we still view Old Mutual's small / mid-cap team in high regard, its assets under management are high which may make it difficult for the fund to recapture its past success. The portfolio's concentration contributes to its relatively high volatility compared to the benchmark.

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

Consumer Services 42.00%
Financials 24.00%
Industrials 13.00%
Consumer Goods 7.00%
Unquoted Investments 6.00%
Technology 4.00%
Basic Materials 2.00%
Money Market 2.00%
Telecommunications 1.00%
Utilities 1.00%

Portfolio

The portfolio currently holds 45 stocks with typical position sizes ranging from 5% (core stocks) to 1% (higher risk stocks).

Key Investor Information - Income

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Key Investor Information - Accumulation

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