fund
Jupiter UK Smaller Companies U1
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223.10p
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.
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225.50p
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?
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0.00%
Initial chargeSome 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!
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0.94%
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).
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0.94%
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.
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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…
The fund invests predominantly in the Numis Smaller Companies universe including AIM and is managed by a respected UK small cap team. The investment process combines a macro-economic overlay with detailed bottom up company analysis, seeking under-researched assets with extensive growth prospects. The fund is style-agnostic and will seek to outperform across all market conditions. Smaller companies’ shares can be more volatile and less liquid than larger company shares, so smaller companies funds can carry more risk.
Fund summary
| Sector | UK Smaller Companies |
| Structure | OEIC |
| Launched | |
| Size | £1,305m |
| 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 | 0.94% |
| Ongoing charges figure | 0.94% |
Allocation
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Investment process
The investment philosophy is a balance of top down and bottom up inputs, with a flexible approach to value and growth tilts, depending on the macro view taken. Top down analysis factors are economic growth, interest rate cycle, industry trends. Bottom up factors include management, earnings growth, re-rating potential and financial stability. Weekly stock selection meetings led by Nickols are held with each analyst in the team covering their own sectors. Internal conclusions are then compared to sell-side analyst forecasts. The team adopts a screening process to identify potential stock specific opportunities. The emphasis will be on companies that have the ability to grow profits faster than the market over a sustained period, a higher probability of producing an earnings surprise or the potential for a re-rating.
This is a steady and consistent small company performer across all market cycles. This fund was downgraded to a two-star rating in July 2015, siting growing assets under management as a cause of portfolio dilution and therefore reducing the impact of the team's strong stock selection. The portfolio will tend to have some overlap with its sister fund, the Old Mutual UK Mid Cap.
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
| Financials | 26.00% |
| Industrials | 24.00% |
| Consumer Services | 19.00% |
| Technology | 10.00% |
| Consumer Goods | 5.00% |
| Unquoted Investments | 4.00% |
| Telecommunications | 3.00% |
| Health Care | 3.00% |
| Basic Materials | 3.00% |
| Money Market | 2.00% |
Portfolio
Typically 80-100 stocks. Position sizes 0.5-2.5%.