Jupiter UK Smaller Companies Fund I

UK Smaller Companies

Update: April 2019: Jupiter UK Smaller Companies placed under review

The Money Observer Rated Investment Team has moved to put Jupiter UK Smaller Companies under review. Full details regarding why we have taken this decision can be found here.

 

New for 2019. Favours owner-operated firms

Consistently strong performance for Jupiter UK Smaller Companies saw it clinch the title of Best UK Smaller/Mid Cap Equity Fund in Money Observer’s 2018 awards. In recognition of this, it merits Rated Fund status.

­The fund’s performance has been revitalised under James Zimmerman, who rejoined Jupiter Asset Management in 2014, having previously worked for the company as an equity analyst, to run this fund. His performance over the past three years puts the fund in the top two in its sector. Over five, it is the third best performer.

In running the £390 million fund, Zimmerman starts with a simple premise: companies where management own a significant part of the business should be able to deliver superior long-term returns for shareholders. Managers who own a meaningful chunk of their business are far less likely to jeopardise the long-term health of the company and will be more motivated to develop wealth through steady share price growth as the business grows profitably over time. At the end of 2018, the portfolio had 56 holdings, predominantly owner-operated companies.

FundCalibre, the fund ratings and research provider, points to Zimmerman’s “excellent” stockpicking and rising star status in the industry. “­ e fund has grown a lot in size recently due to people noticing James’ track record,” says managing director Darius McDermott.

“My only word of caution would be that he has yet to be tested in a bear market, but the fund held up reasonably well in the October [2018] falls – it was pretty much in line with peers. It may suit investors wanting long-term exposure to the growth opportunities in the UK smaller companies space.”

Narrative and ratings content all as of 01 January 2019.

See all Money Observer rated funds
Name
Jupiter UK Smaller Companies Fund I
Manager
Jupiter Unit Trust Managers Ltd
Type
Unit Trust
ISIN
GB00B3LRRF45
Sector
UK Smaller Companies
Launched
17/09/2012
OCF
1.01 %
Risk Rating
4
3 Year Sharpe
1.76
3 Year Alpha
15.17
Yield
0.6 %
Benchmark
Numis SC Plus AIM Ex Invt Com TR GBP
The fund seeks to achieve long term capital growth by investing primarily in UK Smaller Companies. To obtain the objective by investing in high quality smaller companies which the Manager believes to have significant growth potential over the medium to long term. Particular care is taken over stock selection and the Manager places a strong emphasis on the quality of a company’s management.
Holding %
Ocado Group PLC 4.85 %
Games Workshop Group PLC 3.45 %
JD Sports Fashion PLC 3.13 %
Gym Group (The) PLC 2.92 %
Dart Group PLC 2.90 %
Wizz Air Holdings PLC 2.57 %
Applegreen PLC 2.37 %
RHI Magnesita NV Ordinary Shares 2.21 %
Wetherspoon (J D) PLC 2.16 %
Integrated Diagnostics Holdings PLC 2.15 %
Region %
United Kingdom 79.33 %
Eurozone 7.63 %
United States 5.92 %
Sector %
Consumer Cyclical 23.23 %
Technology 18.58 %
Industrials 17.45 %
Financial Services 15.96 %
Consumer Defensive 10.60 %
Basic materials 6.70 %
Healthcare 5.66 %
Name
Jupiter Unit Trust Managers Ltd
Address
SW1E 6SQ, London, United Kingdom
UCITS
Yes
Legal Structure
Unit Trust

Managers

Richard Curling
Joined 04/01/2019

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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You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.