Fact sheet: Jupiter Strategic Bond

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.
STERLING BONDS
Sector
UT Sterling Strategic Bond
Fund type
Unit Trust
Primary aim
INCOME
Why Money Observer Rates Jupiter Strategic Bond

Rated Fund 2013-2018. A flexible 'go anywhere' fund

Jupiter Strategic Bond was highly commended in the Best Sterling Bond Fund category of Money Observer's 2017 fund awards. A ムgo anywhere' fund, it seeks to invest in the best opportunities globally, across a range of fixed interest securities including high-yield bonds, investment-grade bonds, government bonds and convertibles. It can also use derivatives to mitigate the risk of falling bond prices. It yields 3.5 per cent and pays income quarterly.

Lead manager and Jupiter veteran Ariel Bezalel has been at the helm of the strategy since its inception in 2008. The team picks investments based on their view of the global economy, working out how much risk is appropriate to take, and which sectors and countries offer the best opportunities taking into account factors such as inflation, interest rates and economic growth.

When the team is feeling more risk-averse, Bezalel will typically have more investment-grade bonds in the portfolio. At the end of 2017, almost a quarter of assets were in AAA-rated bonds ヨ the highest quality. Avoiding losses is a top priority, so when investing in high-yield bonds he prefers the most senior bonds in a company's capital structure.

Whitechurch Securities has backed this fund since launch and likes its flexible mandate. ムThe freedom has allowed Bezalel to successfully navigate bond markets, unlocking value and identifying opportunities across the years.'<\p>

3 Year Performance
Fund Performance9.8%
Average of Rated Funds Group15.8%
Sector Performance8.8%
Fund information
Fund name
Jupiter Strategic Bond I Acc
Fund manager company
Jupiter Unit Trust Mgrs Ltd
Fund type
Unit Trust
Fund manager
  • Ariel Bezalelsince 02/06/2008
Accolades
Highly Commended - Large Fund - UK Bonds
Fund objective
The Fund aims to achieve a high income with the prospect of capital growth by seeking out the best opportunities within the fixed interest universe globally. The Fund invests in higher yielding assets including high yield bonds, investment grade bonds, government bonds, preference shares, convertible bonds and other bonds. The Fund may invest in derivatives and forward transactions for investment purposes (including, but not limited to, forward currency transactions to hedge exposure in Euro denominated bonds back into Sterling).
Benchmark
  • iBoxx Sterling Non Gilts All Maturities Index
Investment style
Strategic Investment
Investment method
Fixed Interest
Quick stats
1 Year return
-0.1%
1 Year rank in sector
44/81
Sector
UT Sterling Strategic Bond
Yield
3.6%
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.
0.73%
Fund size
£3,882m (£3,661m 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.
17
Top in this sector
Fund name1 Year
GAM Credit Opportunities GBP4.8%
Artemis High Income4.2%
Schroder Strategic Bond4.2%
AXA Framlington Mgd Inc4%
EdenTree Amity Sterling Bd3.6%
...more in UT Sterling Strategic Bond

Performance snapshot

Holdings snapshot

  • North America51.2%
    UK48.2%
    Asia Pacific ex Japan41.5%
    Europe ex UK15.8%
    European Emerging Markets10.4%
  • AAA59.2%
    BB41.7%
    B33.9%
    Non-Rated31.8%
    BBB21.5%
  • Global Corporate Fixed Interest52.7%
    Global Government Fixed Interest36.6%
    Money Market5.7%
    Convertibles3%
    Others0.5%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.5%-0.8%-1.7%-0.1%9.8%18.9%
Sector-0.4%-0.4%-0.8%0.3%8.8%17.4%
Rank within sector60 / 8566 / 8571 / 8444 / 8142 / 7537 / 70
Quartile3rd4th4th3rd3rd3rd
Calendar performance
 YTD - 20182017201620152014
Fund-1.7%4.4%7.4%1.2%4.3%
Sector-1.5%4.9%7.3%-0.3%6.8%
Rank within sector53 / 8551 / 8140 / 7617 / 7358 / 72
Quartile3rd3rd3rd1st4th
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.
1.11
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.
0.63
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
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%.
2.51
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.
1.87
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
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.
0.66
Price movement
52 week high102.87
52 week low100.59
Current bid price-
Current offer price-
Current mid price100.73
Region
1North America51.17%
2UK48.17%
3Asia Pacific ex Japan41.48%
4Europe ex UK15.79%
5European Emerging Markets10.41%
6Latin America7.36%
7Japan5.4%
8Middle East3.59%
9Africa1.49%
Industry sector
1AAA59.21%
2BB41.71%
3B33.87%
4Non-Rated31.77%
5BBB21.51%
6CCC5.81%
7AA5.79%
8A3.45%
9CC0.41%
Asset type
1Global Corporate Fixed Interest52.67%
2Global Government Fixed Interest36.63%
3Money Market5.65%
4Convertibles3%
5Others0.5%
6International Equities0.01%
7Futures-2.67%
8Alternative Investment Strategies-8.14%
Individual holdings
1UNITED STATES OF AMER TREAS BILLS 3% BDS 15/02/47 USD10010.02%
2UNITED STATES OF AMER TREAS NOTES 2.25% BDS 15/02/27 USD10007.68%
3AUSTRALIAN GOVT LOANS(CMNWLTH OF) 3.75% LN STK 21/04/37 AUD1007.22%
4US TREASURY 2.75% 28/02/256.42%
5US TREASURY 2.00% 15/11/265.5%
6UNITED STATES OF AMER TREAS BONDS 2.25% BDS 15/08/46 USD1005.35%
7AUSTRALIAN GOVT LOANS(CMNWLTH OF) 4.25% LN STK 21/04/26 AUD1004.98%
8SOFTBANK GROUP CORP 4.625% BDS 15/04/20 EUR1000002.82%
9AUSTRALIA(COMMONWEALTH OF) 3.25% BDS 21/06/39 AUD10002.24%
Management
Fund manager group
Jupiter
Fund manager company
Jupiter Unit Trust Mgrs Ltd
Fund type
Unit Trust
Fund objective
The Fund aims to achieve a high income with the prospect of capital growth by seeking out the best opportunities within the fixed interest universe globally. The Fund invests in higher yielding assets including high yield bonds, investment grade bonds, government bonds, preference shares, convertible bonds and other bonds. The Fund may invest in derivatives and forward transactions for investment purposes (including, but not limited to, forward currency transactions to hedge exposure in Euro denominated bonds back into Sterling).
Benchmark
  • iBoxx Sterling Non Gilts All Maturities Index
Investment style
Strategic Investment
Investment method
Fixed Interest
Fund manager
NameSinceBiography
Ariel Bezalel02/06/2008Ariel Bezalel started his career at Jupiter and has been a member of the Fixed Interest & Multi-Asset Team since 1998 and a fund manager since 2000. He currently manages the Jupiter Strategic Bond Fund (Unit Trust) and the Jupiter Dynamic Bond fund (SICAV). Ariel has a degree in Economics from Middlesex University.
Compliance
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
Jupiter Strategic Bond Acc
Initial charge-
Annual charge1.25%
Min single investment£500
Min regular saving£50
Available in ISAYes
Ongoing charge (OCF)1.48%
Total expense ratio (TER)1.51%
Bid price-
Offer price-
Mid price96.8
CurrencyGBX
Price updated21/05/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeBUF6
Jupiter Strategic Bond I Acc
Initial charge-
Annual charge0.5%
Min single investment£5,000,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.73%
Total expense ratio (TER)0.76%
Bid price-
Offer price-
Mid price100.73
CurrencyGBX
Price updated21/05/2018
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code09Q3
Jupiter Strategic Bond I Inc
Initial charge-
Annual charge0.5%
Min single investment£5,000,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)0.73%
Total expense ratio (TER)0.76%
Bid price-
Offer price-
Mid price63.9
CurrencyGBX
Price updated21/05/2018
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi code09Q4
Jupiter Strategic Bond Inc
Initial charge-
Annual charge1.25%
Min single investment£500
Min regular saving£50
Available in ISAYes
Ongoing charge (OCF)1.48%
Total expense ratio (TER)1.51%
Bid price-
Offer price-
Mid price63.58
CurrencyGBX
Price updated21/05/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeBUF7
Jupiter Strategic Bond Z Acc
Initial charge-
Annual charge0.48%
Min single investment£125,000,000
Min regular saving£250,000
Available in ISANo
Ongoing charge (OCF)0.71%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price100.75
CurrencyGBX
Price updated21/05/2018
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeKK2H
Jupiter Strategic Bond Z Inc
Initial charge-
Annual charge0.48%
Min single investment£125,000,000
Min regular saving£250,000
Available in ISANo
Ongoing charge (OCF)0.71%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price63.91
CurrencyGBX
Price updated21/05/2018
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeKK2G
Data provided by

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