Jupiter International Financials Fund I Acc

Specialist

Rated Fund 2014-19. A flexible approach to trends and themes in financials

After years of balance sheet repair and tightened regulations, banks are cheaply valued, paying dividends and offering an attractive investment opportunity. Throw into the mix tightening monetary policy leading to a rising interest rate environment and this appears to be a conducive backdrop for financial assets.

Although most people only think of banks when they think of financial companies, there are several subsectors such as insurance, financial technology and payment-processing that also fall into this area. This gives Jupiter International Financials fund useful flexibility.

It has been managed since the beginning of 2015 by Guy de Blonay. He was the deputy manager from 2011 and has focused on financial stocks for many years. The fund reflects 50 of his best ideas globally, comprising companies that he believes are undervalued by the market.

De Blonay aims to identify major structural trends and themes in financial services and then look for companies with prices that do not yet reflect these longer-term trends. He believes that an opportunistic approach is required in order to be able to profit from these themes. So he is prepared to invest in companies of different sizes, at different stages of development and in different countries. He believes the fund’s global investment universe and ability to diversify across subsectors provides him with the flexibility to adapt the portfolio to take account of different market conditions.

At the end of 2018, the fund’s largest allocation was to financial services at 36.5%, banks at 23% and support services at 22%.

Narrative and ratings content all as of 01 January 2019.

See all Money Observer rated funds
Name
Jupiter International Financials Fund I Acc
Manager
Jupiter Unit Trust Managers Ltd
Type
Unit Trust
ISIN
GB00B58D9P37
Sector
Specialist
Launched
19/09/2011
OCF
1.16 %
Risk Rating
3
3 Year Sharpe
0.95
3 Year Alpha
3.38
Yield
0.4 %
Benchmark
MSCI ACWI/Financials GR USD
The fund seeks to achieve long term capital growth principally through investment in equities and equity related securities of financial sector companies on an international basis, but with the power to invest in other asset types when the Manager considers it appropriate for market conditions. The Fund invests in a global portfolio of equities, equity related securities (including derivatives), cash, near cash, fixed interest securities, currency exchange transactions, index linked securities, money market instruments (MMIs) and deposits. At times the portfolio may be concentrated in any one or a combination of such assets and, as well as holding physical long positions the Manager may create synthetic long and short positions through derivatives.
Holding %
Northern Trust Global US Dollar D 9.77 %
CME Group Inc Class A 4.82 %
JPMorgan Chase & Co 4.73 %
Citigroup Inc 4.48 %
Wirecard AG 4.28 %
Global Payments Inc 4.16 %
Partners Group Holding AG 3.93 %
Visa Inc Class A 3.76 %
Mastercard Inc A 3.57 %
Amadeus IT Group SA A 3.16 %
Region %
United States 66.45 %
United Kingdom 14.88 %
Eurozone 10.25 %
Sector %
Financial Services 56.93 %
Technology 25.72 %
Industrials 15.97 %
Name
Jupiter Unit Trust Managers Ltd
Address
SW1E 6SQ, London, United Kingdom
UCITS
Yes
Legal Structure
Unit Trust

Managers

Robert Mumby
Joined 10/18/2011

Robert Mumby hasmore than 25 years experience in the financial service sector, including 12 years as an investment analyst. He joined Jupiter in January 2006 to assist with the management of the Jupiter Financial Opportunities Fund. He is also Fund Manager of the financials segment of the Jupiter Global Managed Fund.

Guy de Blonay
Joined 10/18/2011

Guy de Blonay joined Jupiter in January 2010. He is a member of the Financials team. Guy co-manages the Jupiter Financial Opportunities Fund (Unit Trust) with Philip Gibbs and is the Lead Manager of the Jupiter Hyde Park Hedge Fund. Previously, Guy worked at New Star/Henderson for eight years managing the Henderson New Star Global Financials Fund, New Star Financial Opportunities Investment Trust and New Star Financials Hedge Fund. Prior to this, he worked for six years as an Analyst at Jupiter.

Data provided by Morningstar.

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