Fact sheet: Jupiter European Opportunities IT

Rated Fund Information
Rated Funds Group
?Money Observer has arranged all its Rated Funds into easy to understand Rated Fund Groups, comprising funds and investment trusts.
EUROPEAN EQUITIES
Sector
IT Europe
Fund type
Investment Trust
Primary aim
GROWTH
Why Money Observer Rates Jupiter European Opportunities IT

Rated Fund 2013, 2015-2018. Concentrates on companies benefiting from change

This trust has been managed by Alexander Darwall since 2000. He can invest anywhere across Europe including in the UK, and favours a concentrated portfolio. At the end of 2017, he had more than a quarter of assets in the UK and his top 10 holdings accounted for almost three quarters of the portfolio.Darwall is highly experienced and has a strong performance record. However, with low exposure to financials and energy, this trust has been a little out of favour since 2016 and shares have therefore been available at a small discount to net asset value during 2017, whereas previously they had been trading at a premium.The manager invests in businesses of all sizes and investors can expect an eclectic collection of stocks reflecting Darwall's aim to find 'special' companies across a range of activities. He regards change and disruption as necessary ingredients for his investment strategy to work and looks for companies that stand to benefit.He pays little attention to what is happening at either the political and or the macroeconomic level, as he is more interested in finding businesses that can deliver earnings growth across a range of scenarios.When looking for shares to buy, Darwall seeks to identify companies that enjoy certain key business characteristics. The first is a strong management record and team. The second is proprietary technology and other factors that indicate a sustainable competitive advantage. The third is the reasonable expectation that demand for products or services will enjoy long-term growth. The fourth is an understanding that structural changes are likely to benefit rather than negatively impact that company's prospects.<\p>

3 Year Performance
Fund Performance41.6%
Average of Rated Funds Group47.6%
Sector Performance28.6%
Fund information
Fund name
Jupiter European Opportunities
Fund manager company
Jupiter Asset Management Ltd
Fund type
Investment Trust
Fund manager
  • Alexander Darwallsince 01/11/2000
Accolades
Highly commended - Regular savings Developed Markets
Fund objective
The objective of the company is to invest in securities of European companies and in sectors or geographical areas which are considered by the investment manager to offer good prospects for capital growth, taking into account economic trends and business development.
Benchmark
  • FTSE World Europe EX UK
Investment style
Growth
Investment method
Shares
Quick stats
1 Year return
21.3%
1 Year rank in sector
1/8
Sector
IT Europe
Yield
0.9%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
0.99%
Fund size
£836m
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
155
Mid price
747
NAV
?Net asset value. The NAV per share may be higher or lower than the share price, which in turn is trading at either a discount or a premium to NAV.
730.03
Discount/Premium
?When the market price of an investment trust’s shares is less than the net asset value (NAV) per share then it is trading at a discount to NAV. A trust’s shares are on a premium when they trade at a higher price than the NAV.
+2.32
Gearing
?Investment trusts have the ability to borrow money which they invest with the aim of generating a higher return than the cost of the loan. An ungeared trust has a figure of 100. A figure of 110 would represent a trust with 10% gearing.
104
Top in this sector
Fund name1 Year
Jupiter European Opps21.3%
BlackRock Gtr Eur IT13.7%
The European Inv Tr12.5%
Fidelity European Values PLC10.3%
JP MgnEupn IT GthSh10.2%
...more in IT Europe

Performance snapshot

Holdings snapshot

  • Germany32.8%
    UK25.2%
    Spain10.7%
    France10.2%
    Denmark9.4%
  • Industrials35.1%
    Consumer Services21%
    Health Care19.3%
    Financials12.7%
    Telecommunications4.5%
  • German Equities32.8%
    UK Equities25.2%
    Spanish Equities10.7%
    French Equities10.2%
    Danish Equities9.4%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund3.9%-4.7%5.2%21.3%41.6%98.3%
Sector-0.4%-6.7%-4.3%11.4%28.6%82.4%
Rank within sector1 / 81 / 81 / 81 / 81 / 81 / 8
Quartile1st1st1st1st1st1st
Calendar performance
 YTD - 20182017201620152014
Fund3.8%33%-7%28.7%7.5%
Sector-4.6%27.8%5.9%12.1%5.8%
Rank within sector1 / 81 / 88 / 81 / 84 / 8
Quartile1st1st4th1st2nd
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
2.29
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
1
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
0.43
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
15.95
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
9.49
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
0.2
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.62
Price movement
52 week high794
52 week low621
Current bid price744
Current offer price748
Current mid price747
Region
1Germany32.8%
2UK25.2%
3Spain10.7%
4France10.2%
5Denmark9.4%
6Netherlands8.7%
7Others2.2%
8Norway1.8%
9Belgium1.5%
Industry sector
1Industrials35.1%
2Consumer Services21%
3Health Care19.3%
4Financials12.7%
5Telecommunications4.5%
6Consumer Goods4.3%
7Technology4%
8Basic Materials2.8%
9Others-3.7%
Asset type
1German Equities32.8%
2UK Equities25.2%
3Spanish Equities10.7%
4French Equities10.2%
5Danish Equities9.4%
6Dutch Equities8.7%
7International Equities2.2%
8Norwegian Equities1.8%
9Belgian Equities1.5%
Individual holdings
1WIRE CARD AG13.9%
2NOVO NORDISK A/S8.9%
3RELX NV8.7%
4CARNIVAL CORP8.2%
5DEUTSCHE BOERSE AG7%
6AMADEUS IT GROUP SA6.9%
7GRENKE AG6.8%
8BIOMERIEUX4.6%
9EXPERIAN PLC4.5%
Management
Fund manager group
Jupiter
Fund manager company
Jupiter Asset Management Ltd
Fund type
Investment Trust
Fund objective
The objective of the company is to invest in securities of European companies and in sectors or geographical areas which are considered by the investment manager to offer good prospects for capital growth, taking into account economic trends and business development.
Benchmark
  • FTSE World Europe EX UK
Investment style
Growth
Investment method
Shares
Fund manager
NameSinceBiography
Alexander Darwall01/11/2000Alexander Darwall joined Jupiter in 1995 and is currently Head of Strategy, European Growth. He manages the Jupiter European Fund (Unit Trust), as well as the Jupiter European Opportunities Trust PLC, the Jupiter European Growth fund (SICAV) and institutional assets. Before joining Jupiter, Alexander trained as an investment analyst with de Zoete & Bevan (BZW) before moving to Enskilda Securities in Paris in 1987, where he became head of French equity research. He joined Goldman Sachs in London in 1992, where he worked as a French equity analyst. Alexander has a degree in History from Cambridge University.
Compliance
AIC Member
Domicile
No data available.
Fund for sale in
United Kingdom
Jupiter European Opportunities
Initial charge-
Annual charge0.75%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.99%
Bid price-
Offer price-
Mid price730.03
CurrencyGBX
Price updated19/04/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNJPH
Jupiter European Opportunities NAV
Initial charge-
Annual charge0.75%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)0.99%
Bid price-
Offer price-
Mid price728.22
CurrencyGBX
Price updated19/04/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi code0HGY
Data provided by

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