Fact sheet: Jupiter Monthly 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.
MIXED ASSET - LOWER RISK
Sector
UT UK Equity & Bond Income
Fund type
Unit Trust
Primary aim
No data available.
Why Money Observer Rates Jupiter Monthly Income

New for 2017. Looking for the best investment trusts and bonds to deliver a regular income

Jupiter Monthly Income aims to achieve a high level of sustainable income, with the prospect of capital growth. To achieve this, it takes a somewhat different approach from its peers. It is essentially a fund of investment trusts, but the portfolio is also around 10-15 per cent invested in high-yield bonds to help supplement the income.

Richard Curling has managed the fund since January 2012. He is mainly responsible for the investment trust portion of the fund, while some of the fixed income portion is run as a 'best ideas' portfolio by Jupiter's team of credit analysts.

Curling, who also runs the Jupiter Fund of Investment Trusts, looks for investment trust managers that have consistently outperformed their benchmarks. When selecting an investment company, he considers track record, investment process consistency of returns. Share price discounts to a trust's net asset value represent an additional opportunity but are never the only driving force in making an investment.

Approximately half of the portfolio is invested in equity funds, while the other half is invested in 'alternative' funds which help generate a higher and consistent income and provide a degree of diversification away from equity markets, as well as lower volatility.

The fund is highly diversified. It has around 90 holdings and the trusts it holds invest in hundreds of underlying holdings. It also has international exposure.

3 Year Performance
Fund Performance28.7%
Average of Rated Funds Group18%
Sector Performance17.5%
Fund information
Fund name
Jupiter Monthly Income I Acc
Fund manager company
Jupiter Unit Trust Mgrs Ltd
Fund type
Unit Trust
Fund managers
  • Richard Curlingsince 30/01/2012
Accolades
Fund objective
The objective of the Fund is to achieve a high level of sustainable income with prospects of capital growth. The Fund's investment policy is to attain the objective by investing principally in UK equities via various classes of investment trust securities, with some exposure to fixed interest securities.
Benchmark
  • UK Equity and Bond Income
Investment style
Aggressive,Growth
Investment method
None
Quick stats
1 Year return
6%
1 Year rank in sector
5/27
Sector
UT UK Equity & Bond Income
Yield
4.7%
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.
0.95%
Fund size
£177m (£142m 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.
43
Top in this sector
Fund name1 Year
VT Arden10.8%
First Arrow Diversified10.1%
S&W Hercules Growth7.8%
Carvetian The New Shoots6.1%
Jupiter Monthly Income6%
...more in UT UK Equity & Bond Income

Performance snapshot

Holdings snapshot

  • No data available.
  • Financials69.5%
    Money Market14.7%
    Others9.2%
    Corporate Bonds4.5%
    Basic Materials0.7%
  • UK Equities77.1%
    Money Market14.7%
    UK Fixed Interest5.2%
    Irish Equities1.1%
    Canadian Equities0.8%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-2.3%-0.7%-0.5%6%28.7%51.4%
Sector-4.6%-1.8%-0.4%3.7%17.5%40.2%
Rank within sector3 / 276 / 2714 / 275 / 272 / 244 / 22
Quartile1st1st3rd1st1st1st
Calendar performance
 YTD - 20182017201620152014
Fund-1.5%11%13.1%6.5%6.7%
Sector-3.3%9.4%11.7%2.7%5.5%
Rank within sector3 / 275 / 278 / 262 / 247 / 23
Quartile1st1st2nd1st2nd
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.
4.75
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.
0.8
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.
1.04
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%.
6.11
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.
3.26
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.
1.08
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.
0.77
Price movement
52 week high124.21
52 week low114.28
Current bid price-
Current offer price-
Current mid price121.07
Region
No data available.
Industry sector
1Financials69.46%
2Money Market14.75%
3Others9.24%
4Corporate Bonds4.5%
5Basic Materials0.67%
6Technology0.54%
7Floating Rate Notes0.49%
8Convertibles0.35%
Asset type
1UK Equities77.11%
2Money Market14.75%
3UK Fixed Interest5.22%
4Irish Equities1.06%
5Canadian Equities0.76%
6North American Equities0.57%
7Dutch Fixed Interest0.19%
8Luxembourg Fixed Interest0.18%
9Irish Fixed Interest0.12%
Individual holdings
1F&C EUROPEAN ASSETS TRUST4.47%
2F&C F&C UK HIGH INCOME TRUST PLC ORD 0.1P3.6%
3SCHRODER ORIENTAL INCOME3.27%
4ABERFORTH SPLIT LEVEL INCOME TRUST2.18%
5MITON THE DIVERSE INCOME TRUST PLC ORD 0.1P2.18%
6JANUS HENDERSON HENDERSON HIGH INCOME TRUST ORD1.98%
7APAX GLOBAL ALPHA LIMITED ORD NPV1.97%
8ASIAN INCOME ORD1.92%
9CATCO REINSURANCE OPPORTUNITIES LIMITED1.9%
Management
Fund manager group
Jupiter
Fund manager company
Jupiter Unit Trust Mgrs Ltd
Fund type
Unit Trust
Fund objective
The objective of the Fund is to achieve a high level of sustainable income with prospects of capital growth. The Fund's investment policy is to attain the objective by investing principally in UK equities via various classes of investment trust securities, with some exposure to fixed interest securities.
Benchmark
  • UK Equity and Bond Income
Investment style
Aggressive,Growth
Investment method
None
Fund managers
NameSinceBiography
Richard Curling30/01/2012Richard joined Jupiter in 2006 and is a fund manager in the UK Growth team. He manages the Jupiter Fund of Investment Trusts, the Jupiter Monthly Income Fund and the Jupiter UK Alpha Fund (all Unit Trusts). Before joining Jupiter, Richard worked originally for Morgan Grenfell as manager of the UK Pensions and Income Funds, prior to its acquisition by Deutsche Bank where he was appointed managing director and head of Small Caps. In this position, held for more than 10 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 Caps and responsible for the Global/EAFE Small Cap product. Richard has a degree from Edinburgh University and is an Associate of the Society of Investment Analysts.
Compliance
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
Jupiter Monthly Income Acc
Initial charge-
Annual charge1.5%
Min single investment£500
Min regular saving£50
Available in ISAYes
Ongoing charge (OCF)1.7%
Total expense ratio (TER)1.73%
Bid price-
Offer price-
Mid price115.41
CurrencyGBX
Price updated15/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeJU24
Jupiter Monthly Income I Acc
Initial charge-
Annual charge0.75%
Min single investment£5,000,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.95%
Total expense ratio (TER)0.98%
Bid price-
Offer price-
Mid price121.07
CurrencyGBX
Price updated15/02/2018
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code09Q1
Jupiter Monthly Income I Inc
Initial charge-
Annual charge0.75%
Min single investment£5,000,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.95%
Total expense ratio (TER)0.98%
Bid price-
Offer price-
Mid price32.63
CurrencyGBX
Price updated15/02/2018
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi code09Q2
Jupiter Monthly Income Inc
Initial charge-
Annual charge1.5%
Min single investment£5,000
Min regular saving£50
Available in ISAYes
Ongoing charge (OCF)1.7%
Total expense ratio (TER)1.73%
Bid price-
Offer price-
Mid price31.02
CurrencyGBX
Price updated15/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeJU25
Data provided by

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