Factsheet: Jupiter Monthly Income I Acc

Mixed Asset 0-40% Equity

Rated Fund 2017-2018. Trusts investment trusts for regular income

Jupiter Monthly Income aims to achieve a high level of sustainable income, with the prospect of capital growth. It yields 4.6 per cent and pays income monthly. To achieve this, it takes a somewhat different approach from its peers. It is essentially a fund of investment trusts, but the portfolio also has some exposure to high-yield bonds to help supplement the income.Richard Curling has managed the fund since 2012. He is mainly responsible for the investment trust portion of the fund, while the fixed income portion is run as a 'best ideas' portfolio by Jupiter's team of credit analysts.Curling also runs the Jupiter Fund of Investment Trusts, so he is well-versed in looking for investment trust managers that have consistently outperformed their benchmarks. When selecting an investment trust, he considers track record, investment process and consistency of returns. Share price discounts to net asset value represent an additional opportunity but are never the sole driving force in making an investment. Curling achieves a mix of equity funds and 'alternative' funds, which help generate a higher and more consistent income and provide a degree of diversification away from equity markets, as well as lower volatility.The fund is highly diversified. It has more than 100 holdings and the trusts it holds themselves invest in hundreds of underlying holdings. It also has international exposure. Among its top holdings at the end of 2017 were European Assets, Schroder Oriental Income and Jupiter Emerging and Frontier Income Trust. Private equity fund Apax Global Alpha and 'catastrophe bonds' fund Catco Reinsurance Opportunities were also among its largest holdings.The fund's ongoing charges are 0.95 per cent.

Narrative and ratings content all as of 01 January 2018.

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Name
Jupiter Monthly Income I Acc
Manager
Jupiter Unit Trust Managers Ltd
Type
Unit Trust
ISIN
GB00B4WLF922
Sector
UK Equity And Bond Income
Launched
19/09/2011
OCF
0.97 %
Risk Rating
3
3 Year Sharpe
1.23
Yield
4.4 %
Benchmark
IA UK Equity and Bond Income
The fund seeks to achieve a high level of sustainable income with prospects of capital growth. It is to attain the objective by investing principally in the UK, principally in equities via various classes of Investment Trust securities with some exposure to fixed interest securities.
Holding %
European Assets Ord 4.45 %
F&C UK High Income Ord 3.63 %
Schroder Oriental Income Ord 3.31 %
Diverse Income Trust Ord 2.13 %
Aberforth Split Level Income Ord/Inc 1.96 %
Henderson High Income Ord 1.93 %
Jupiter Emerging & Frontier Income Ord 1.93 %
Apax Global Alpha Ord 1.91 %
Aberdeen Asian Income Ord 1.89 %
Tritax Big Box 1.81 %
Region %
United Kingdom 47.73 %
Eurozone 15.47 %
Asia - Developed 9.74 %
Europe - ex Euro 6.95 %
Asia - Emerging 5.20 %
Sector %
Financial Services 20.35 %
Real Estate 14.61 %
Consumer Cyclical 14.52 %
Industrials 12.35 %
Basic materials 9.49 %
Technology 7.94 %
Consumer Defensive 7.42 %
Name
Jupiter Unit Trust Managers Ltd
Address
SW1E 6SQ, London, United Kingdom
UCITS
Yes
Legal Structure
Unit Trust

Managers

Richard Curling
Joined 01/30/2012

Richard Curling joined Jupiter in 2006 and manages the Jupiter UK Smaller Companies Fund (Unit Trust), the Jupiter Primadona Growth Investment Trust and institutional monies. Prior to joining Jupiter, Richard worked for Morgan Grenfell as Manager of the UK pensions and Income Funds before moving to Deutsche Bank where he was appointed Managing Director and Head of Small Cap. In this position, which he held for more than ten years, Richard was responsible for managing the UK and European Small Cap team and running Small Cap equity mandates. Between 1996 and 2003, he was also Head of Global Small Cap and responsible for the Global/EAFE Small Cap product. Richard has a Bachelor of Commerce (Hons) from Edinburgh University and is an Associate of the Society of Investment Analysts.

Data provided by Morningstar.

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