Fact sheet: Jupiter Income

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.
UK EQUITY INCOME
Sector
UT UK Equity Income
Fund type
Unit Trust
Primary aim
No data available.
Why Money Observer Rates Jupiter Income

New for 2017. Contrarian approach pays off

This fund has seen a return to form since Ben Whitmore took over as lead manager in January 2013. It has a yield of 3.7 per cent and pays income half yearly. Whitmore takes a bottom-up, stock-picking, value-based investment approach.

On the basis that any weakness is only temporary, he aims to buy out-of-favour and lowly priced shares in companies that are nevertheless well-run and have a sound balance sheet. His team tends to focus its attention on the biggest 400 UK companies.

He believes that investors' emotions can get in the way of making the best possible investment decisions. So he and his team, in order to avoid emotional pitfalls, use two stock screens to look for ideas.

The first screen looks for shares that are lowly valued on their earnings power across an economic cycle and the second looks for shares that are both lowly rated and have high returns.

Having narrowed down the investable universe, he looks for companies with a sound franchise, a reasonable balance sheet, a conversion of profits into cash and capital discipline.

He is not a great believer in meeting company managements unless a new management team is in place, which means he is far more likely to get a balanced picture of the company. While the fund may experience some periods of volatile performance due to Whitmore's contrarian approach, it should do well in the long term.

3 Year Performance
Fund Performance23.2%
Average of Rated Funds Group22.3%
Sector Performance16%
Fund information
Fund name
Jupiter Income Trust I Acc
Fund manager company
Jupiter Unit Trust Mgrs Ltd
Fund type
Unit Trust
Fund managers
  • Ben Whitmoresince 01/01/2013
Accolades
Fund objective
The Fund's objective is to produce a high income increasing at least in line with inflation, from a managed portfolio chiefly invested in UK equities and fixed interest stocks, although it may have some overseas exposure.
Benchmark
  • FTSE All Share
Investment style
None
Investment method
Shares
Quick stats
1 Year return
3%
1 Year rank in sector
50/94
Sector
UT UK Equity Income
Yield
3.9%
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.
0.94%
Fund size
£2,439m (£2,230m last year)
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.
91
Top in this sector
Fund name1 Year
Man GLG UK Income15.7%
MI Chelverton UK Eq Inc13.1%
LF Miton UK Multi Cap Inc10.4%
MI DowningMthlyInc10.3%
Courtiers UK Equity Income9.8%
...more in UT UK Equity Income

Performance snapshot

Holdings snapshot

  • UK95.5%
    Money Market4.5%
  • Financials22.2%
    Consumer Services20.4%
    Industrials10.2%
    Oil & Gas8.2%
    Technology7.7%
  • UK Equities95.5%
    Money Market4.5%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-7.1%-0.2%-0.2%3%23.2%60.3%
Sector-6.2%-1.8%-1.7%3.3%16%45.3%
Rank within sector81 / 9918 / 9828 / 9750 / 9411 / 8414 / 78
Quartile4th1st2nd3rd1st1st
Calendar performance
 YTD - 20182017201620152014
Fund-4.2%10.1%19.6%2.4%3.9%
Sector-4.9%11.2%9.1%4.9%2.8%
Rank within sector26 / 9956 / 945 / 8971 / 8438 / 82
Quartile2nd3rd1st4th2nd
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.
2.13
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.
0.89
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.
0.58
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%.
8.64
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.
4.74
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.
0.27
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.
0.72
Price movement
52 week high805.35
52 week low720.08
Current bid price-
Current offer price-
Current mid price748.14
Region
1UK95.46%
2Money Market4.54%
Industry sector
1Financials22.25%
2Consumer Services20.45%
3Industrials10.16%
4Oil & Gas8.22%
5Technology7.69%
6Consumer Goods6.66%
7Health Care6.19%
8Telecommunications5.55%
9Basic Materials5.45%
Asset type
1UK Equities95.46%
2Money Market4.54%
Individual holdings
1BP6.23%
2HSBC HLDGS5.19%
3AVIVA4.42%
4PEARSON4.1%
5CISCO SYSTEMS INC3.54%
6SMITHS GROUP3.44%
7ERICSSON NIKOLA TESLA3.21%
8GLAXOSMITHKLINE3.15%
9STANDARD CHARTERED3.1%
Management
Fund manager group
Jupiter
Fund manager company
Jupiter Unit Trust Mgrs Ltd
Fund type
Unit Trust
Fund objective
The Fund's objective is to produce a high income increasing at least in line with inflation, from a managed portfolio chiefly invested in UK equities and fixed interest stocks, although it may have some overseas exposure.
Benchmark
  • FTSE All Share
Investment style
None
Investment method
Shares
Fund managers
NameSinceBiography
Ben Whitmore01/01/2013Ben joined Jupiter in 2006 and is currently Head of Strategy, UK Value. Ben manages the Jupiter UK Special Situations Fund and the Jupiter Income Trust (Unit Trusts), as well as co-managing the Jupiter Global Equities fund (SICAV) alongside Dermot Murphy. Before joining Jupiter, Ben worked at Schroders, managing both retail and institutional portfolios and around £2 billion of assets. Ben has a degree in Geography from Cambridge University.
Compliance
Transparent for Swiss Tax, IA Recognised, UCITS IV Compliant, UCITS V Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
Jupiter Income Trust Acc
Initial charge-
Annual charge1.5%
Min single investment£500
Min regular saving£250
Available in ISANo
Ongoing charge (OCF)1.69%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price545.54
CurrencyGBX
Price updated15/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeOAJ4
Jupiter Income Trust I Acc
Initial charge-
Annual charge0.75%
Min single investment£5,000,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.94%
Total expense ratio (TER)0.94%
Bid price-
Offer price-
Mid price748.14
CurrencyGBX
Price updated15/02/2018
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code09PU
Jupiter Income Trust I Inc
Initial charge-
Annual charge0.75%
Min single investment£5,000,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.94%
Total expense ratio (TER)0.94%
Bid price-
Offer price-
Mid price579.47
CurrencyGBX
Price updated15/02/2018
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi code09PV
Jupiter Income Trust Inc
Initial charge-
Annual charge1.5%
Min single investment£500
Min regular saving£50
Available in ISAYes
Ongoing charge (OCF)1.69%
Total expense ratio (TER)1.69%
Bid price-
Offer price-
Mid price545.54
CurrencyGBX
Price updated15/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeJU01
Jupiter Income Trust Z Acc
Initial charge-
Annual charge0.65%
Min single investment£125,000,000
Min regular saving£250,000
Available in ISANo
Ongoing charge (OCF)0.84%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price750.71
CurrencyGBX
Price updated15/02/2018
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeKTMT
Jupiter Income Trust Z Inc
Initial charge-
Annual charge0.65%
Min single investment£125,000,000
Min regular saving£250,000
Available in ISANo
Ongoing charge (OCF)0.84%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price581.13
CurrencyGBX
Price updated15/02/2018
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeKTMS
Data provided by

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