Research_strapline

Are you an:

Don't let the labels put you off!
If you're not an investor, but you want to learn, you can select investor

×

Register for FundCalibre!

We just need to know
if you are an:

Don't let the labels put you off!
If you're not an investor, but you want to learn, you can select investor

×

Jupiter UK Growth

Elite Rated by FundCalibre

Offers investors exposure to a concentrated portfolio (30-40 stocks) of predominantly, but not exclusively, UK large-cap stocks. The process is focused on stock selection and not overly stylistic, with the manager adopting a pragmatic approach to populate the portfolio with both growth and recovery stock ideas.

Company Description

Founded in 1985, Jupiter Asset Management has grown from a specialist investment boutique to a global fund management company. It provides a range of products from bond and equity funds to multi-asset strategies for both retail and institutional clients.

Factsheet_jupiter_4_colour

Fund Manager

Steve Davies joined Jupiter in July 2007, following 14 years of analyst experience, to work on the UK Growth fund, becoming co-manager in 2013. In 2015 Steve became sole manager.

Factsheet_steve_davies_148x100

My wife is invested in the fund, she would be the first person to let me know if performance wasn’t up to scratch.

Steve Davies - Fund Manager

The Investment Process

Stocks fall into two buckets, either recovery or growth. Recovery stocks are companies that have suffered a collapse in earnings, but where a catalyst for a change in fortune is apparent, such as change in management or a cyclical recovery. Growth companies have strong organic sales growth, having pricing power and trade on reasonable valuations. The relative proportions of these buckets will vary according to where the managers find their ideas. They also have a strict sell discipline, so they don’t become overly attached to portfolio stocks.

Risk

The fund, given its concentrated nature, and allocation to mid-caps (typically 30%), is slightly more volatile than the FTSE 100. The manager does have a preference for cheap stocks, which may provide an element of safety in tough markets. He does occasionally invest overseas, which adds to risk a little.

Our Opinion

The process is remarkably simple, with the manager identifying both growth and recovery stocks through fundamental analysis, and then populating a concentrated portfolio with his best ideas. However, over time Steve has stripped away parts of the process that were less successful, and the result is a fund that has performed well in a wide range of market conditions.

  • Fund
  • Sector

©2014 FundCalibre Limited. All Rights Reserved. The information, data, analyses, and opinions contained herein (1) include the proprietary information of FundCalibre, (2) may not be copied or redistributed without prior permission, (3) do not constitute investment advice offered by FundCalibre, (4) are provided solely for informational purposes and therefore are not an offer to buy or sell a fund, and (5) are not warranted to be correct, complete, or accurate. FundCalibre shall not be responsible for any trading decisions, damages, or other losses resulting from, or related to, this information, data, analyses, or opinions or their use. The Elite Fund rating is subjective in nature and reflects FundCalibre’s current expectations of future events/behaviour as they relate to a particular fund. Because such events/behaviour may turn out to be different than expected, FundCalibre does not ,guarantee that a fund will perform in line with its FundCalibre benchmark. Likewise, the Elite Fund rating should not be seen as any sort of guarantee or assessment of the creditworthiness of a fund or of its underlying securities and should not be used as the sole basis for making any investment decision. FundCalibre disclaims any responsibility for trading decisions, damages or other losses resulting from any use of the Elite Fund rating.