Last Word
Perspective
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Fund Manager
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strategy directly from the fund manager himself.
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research and market views together with an explanation of the
The Jupiter Distribution Fund is a well-established multi-asset proposition, investing quite simply in equities, bonds and cash. Aimed at cautious investors, it has twin objectives of providing capital growth alongside a sustainable level of income.
Axis analyses the fund from four perspectives to bring you insight,
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Review By Gary Corcoran
COMPANY_ Last Word
The Jupiter Distribution Fund is as straightforward a multi-asset fund as it comes - a long-only unit trust that invests in fixed interest securities, direct equities and cash. Its mandate is to provide both capital growth as well as not just income but a sustainable level of income.
Scroll down to read more...
“The two managers are effectively paid to manage risk, so their starting point is a risk framework for growth in the fund from which comes an optimal level of income”
JOB TITLE_ Director
YEARS IN INDUSTRY_ 25+
LOCATION_ London
G
at Last Word
GA_
GAR_
GARY_
GARY C_
GARY CO_
GARY COR_
GARY CORC_
GARY CORCO_
GARY CORCOR_
GARY CORCORA_
GARY CORCORAN_
GARY CORCORAN
Appealing straightforward approach
COMPANY_ Square Mile Investment
To view Square Mile Investment Consulting and Research Ltd's disclosure on their involvement on this site, please click here.
JOB TITLE_ Head of risk-based solutions research
A_
“The success of the Jupiter Distribution Fund hinges on the managers’ ability to select the right types of securities at the right time and we believe they can continue to successfully do this.”
In a universe which now consists of some complicated, and in some cases opaque multi-asset products, the Jupiter Distribution Fund has a very straightforward approach and is likely to appeal to a number of investors.
Scroll down to read more...
YEARS IN INDUSTRY_ 18
AL_
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ALEX F_
ALEX FA_
ALEX FAR_
ALEX FARL_
ALEX FARLO_
ALEX FARLOW_
ALEX FARLOW
Last Word
Perspective
Multi-asset funds cover all manner of designs, structures and propositions. At one end, there are those that invest in equities, bonds, property and cash - the traditional cautious managed fund approach. At the other, you will find those run with a far wider remit, using more complex structures, including real and synthetic assets to reproduce multiple market positions.
What they largely share is a common goal of targeting positive returns in all market conditions over a specified timeframe.
The Jupiter Distribution Fund is one of a small group that offers the most simple structure of all multi-asset propositions, investing as it does in equities, bonds and cash. It is a long-only, high conviction fund that invests in the full spectrum of fixed interest securities and direct equities under, since 2010, the management of Rhys Petheram (the bond expert) and Alastair Gunn (his equities counterpart).
To avoid conflict, the Jupiter Distribution Fund has a primary objective to deliver risk-adjusted returns with a secondary objective of providing an income. The two managers are effectively paid to manage risk so their start point is a risk framework for growth in the fund from which comes an optimal level of income, yielding around 3% p.a.
The expertise of Petheram, Gunn and their teams means the end result is a fund that usually invests around two thirds in bonds - from high yield to investment grade (the core of its allocation) and government bonds - and one third in equities, mainly UK equities. The bond element is more global but they endeavour to hedge out any overseas currency risk.
They do not take large asset allocation bets so this may move but only by +/-5% over time, from between 28% and 33% as a guide over the past seven years.
This Distribution Fund is one of three funds that make up the broader multi-asset Jupiter Distribution Fund Range and sits at the lower, more cautious end of the risk spectrum. The Jupiter Distribution Fund typically has around 30% in equities and high yield bonds, 65% in other bonds and 5% in cash; moving up the risk scale will see an allocation of around 60% in equities and high yield bonds in the Jupiter Enhanced Distribution Fund; with around 80% in the Jupiter Distribution and Growth Fund.
Valuation-driven security selection focussed on equities, bonds and cash
AUTHOR_ GARY CORCORAN
The Jupiter Distribution Fund is aimed at the more cautious investor so the income element is focussed on the sustainability of the amount of income to be paid, paying out a monthly distribution that is smoothed during the course of the year to provide the predictability these investors need.
Given they are specifically targeting cautious investors the managers are very conscious of managing downside risk and attempting to avoid large capital losses. In very broad terms, equities provide a lot of the growth; bonds cushion the portfolio against periods of serious market stress; both provide an income.
They are not big asset allocators and their main driver of value is bottom-up stock selection with the integration of equity and bond security selection at the core of their process. Even though Petheram and Gunn approach the analysis of a company from the point of view of a different asset class, they both understand that most of the value in understanding a security is in that company’s fundamentals. In theory, they can own the equity and bond from the same company and they have done in practice in the past. It all comes down to valuation and, usually, whichever of the two has the greatest conviction gets to invest the cash.
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Kames Global Diversified Income Fund
Fund
Vincent McEntegart has been managing the Kames Global Diversified Income Fund for six years and is well-versed to the changeable financial climate. Curabitur blandit tempus porttitor. Aenean lacinia bibendum nulla sed consectetur.
Manager
Vincent McEntegart
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Investors should be aware that compared to other funds which have a similar objective the Jupiter Distribution Fund has a relatively narrow remit and will predominantly be composed of high quality bonds and high yielding UK equities. In addition, as a general rule the Jupiter Distribution Fund will endeavour to be fully hedged to sterling and therefore is likely to miss out on any currency diversification benefits which these overseas assets can bring. While acknowledging the straight-forward approach, investors should not necessarily see this as a drawback and we firmly believe in playing to your strengths, which this fund certainly does. The simple structure and the exposure to direct securities means that the ongoing charge figure for the Jupiter Distribution Fund is competitive compared to many peers. For investors concerned about liquidity the Jupiter Distribution Fund should have appeal as the managers choose not to hold more esoteric investments.
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AUTHOR_ ALEX FARLOW
“The dual manager approach means that the Jupiter Distribution Fund benefits from experts in both equities and fixed income and allows the managers to build a diversified portfolio capable of producing a competitive total return in a low-risk fashion. The Jupiter Distribution Fund also benefits from the wider fixed income and equity resources at Jupiter and offers good value for money compared to many peers.”
The bond portfolio, which Petheram has responsibility for, and which will represent the largest part of the Jupiter Distribution Fund, is focused on providing stability. He is cautious by nature and therefore ideally suited to ensure his fixed income holdings and positions provide the ballast to counteract the higher risk part of the portfolio. His focus on investing in the debt of reliable companies which have sensible long-term business models, and where he feels comfortable holding each issue to maturity, has served the fund well. The long-term growth of the Jupiter Distribution Fund will be driven by Gunn, and his equity security selection. He has very clear views and can articulate in a detailed manner why he has invested in a particular company and what his expectations are for it over the medium term. The clarity with which he presents his rationale, for purchases and sales, and the depth in which he knows his companies are impressive. His investment process allows him the scope to invest in a diverse range of businesses, however the valuation discipline and the focus on dividend-paying companies should provide some downside protection and is a good complement for the bond portfolio.
The Jupiter Distribution Fund offers a simple and transparent solution which has its foundations firmly grounded in traditional equities and bonds. The success of the Jupiter Distribution Fund hinges on the managers’ ability to select the right securities at the right time and we believe they can continue to successfully do this. The managers have a proven track record of providing good risk-adjusted returns without having a broad investment remit and without the use of alternative assets. We believe the Jupiter Distribution Fund represents an attractive proposition for investors who require growth but who are not willing to take on a high level of risk, and a level which is significantly below that of equities. The awareness of the managers with their investor base and their understanding of the need to avoid permanent loss of capital is a key tenet of the strategy.
Co-managers Alastair Gunn and Rhys Petheram have over 40 years combined industry experience and each has responsibility for his own part of the portfolio and a defined investment process. Having a dual perspective on each stock, i.e. one from the bond side and one from the equity side, helps to build a clear picture of the expectations for a business, and we think gives the pair an edge. The multi-dimensional and integrated approach of the managers allows them to select where in the capital structure they wish to allocate investors’ money. For example, the portfolio has a low exposure to bank debt, as the preference is to take exposure to this area of the market through equities. This collaborative way of working and the managers’ collective knowledge of each position in the fund we believe leads to a strong understanding of overall fund risks.
Simplicity is the watchword for this cautious multi-asset proposition
Victoria Hasler, Head of Research, Square Mile Investment Consulting and Research Limited
Square Mile
Perspective
Fund buyers' perspective
As well as being aimed at cautious investors, the Jupiter Distribution Fund is a multi-asset fund that also satisfies the need for those looking to dip their fixed income feet into equity waters.
Market Reaction
Next
Jonathan Woo_ investment research_ Santander Asset Management
×
“There has been considerable structural reform in giant markets like India, China and the Pacific Tiger economies. It’s a time of change from investment in infrastructure to innovation. Baillie Gifford looks for superior growth, meaning its style is suited to this change. They make some debatable valuations but are valiant investors and can spot businesses with great fundamentals early. They are picking the sort of businesses that have the potential to steam ahead and accrue multiple years of earnings growth for investors.”
Scott Spencer_ Investment Manager_ F&C Multi-manager solutions, BMO Global Asset Management
“The key rationale behind Income Maximiser is the delivery of a 7% yield. The use of derivatives in the portfolio means the upside is therefore limited but we find the fund is a lower beta way of getting equity exposure as well as some downside protection.”
“The fund managers of Schroder Income [Nick Kirrage and Kevin Murphy] pick the stocks, and the derivatives for Income Maximiser are then written accordingly. We like the fact that derivatives provide a diversification element and we have a great deal of confidence that the derivatives are run by a separate team. It is a very different skill set and is a USP of theirs.”
Richard Philbin_ CIO_ Wellian Investment Solutions
Mona Shah_ head of collectives_ Rathbones
“After years of lacklustre performance, Asia and the emerging world experienced a resurgence last year, driven by rising commodity prices and a fundamental shift in favour of more cyclical sectors like financials, energy and materials. But many of the fortunes of Asia and emerging markets are driven by sentiment from the West, which was negatively affected by the US election in November. While markets have regained their initial losses, we’ve had no more clarity on what Donald Trump’s policies will mean with regards to global trade and protectionism. For this reason, we believe that diversification should offer benefits in a period where markets are likely to be volatile. In addition, the economies in Asia-Pacific are showing increasing dependence on domestic demand, and we believe funds exposed to growing demand from consumers in China, for example, may be better placed to withstand headwinds from the US.”
Robert Shepherd_ Director_ Bright & Co.
We were on the lookout for something different and, let’s face it, 4% or lower is the norm in this environment. So this is attractive”
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Achievable, sustainable, reliable
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Fund
Manager
Perspective
Fund Buyer
Perspective
This demo version has been optimised for desktop, laptop and tablet. Smartphones, iPhones will be supported in the next version.
to bring you insight, research and market views
together with an explanation of the strategy
directly from the fund manager himself.
Axis analyses the fund from four perspectives
Jupiter
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Di
Jupiter
Dis
Jupiter
Dist
Jupiter
Distr
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Distri
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Distrib
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Distributi
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Distribution Fund
“The two managers are effectively paid to manage risk, so their starting point is a risk framework for growth in the fund from which comes an optimal level of income.”
The expertise of Petheram, Gunn and their teams means the end result is a fund that usually invests around two thirds in bonds - from high yield to investment grade (the core of its allocation) and government bonds - and one third in equities, mainly UK equities. The bond element is more global but they endeavour to hedge out any overseas currency risk.
They do not take large asset allocation bets so this may move but only by +/-5% over time, from between 28% and 33% as a guide over the past seven years.
This Distribution Fund is one of three funds that make up the broader multi-asset Jupiter Distribution Fund Range and sits at the lower, more cautious end of the risk spectrum. The Jupiter Distribution Fund typically has around 30% in equities and high yield bonds, 65% in other bonds and 5% in cash; moving up the risk scale will see an allocation of around 60% in equities and high yield bonds in the Jupiter Enhanced Distribution Fund; with around 80% in the Jupiter Distribution and Growth Fund.
Multi-asset funds cover all manner of designs, structures and propositions. At one end, there are those that invest in equities, bonds, property and cash - the traditional cautious managed fund approach. At the other, you will find those run with a far wider remit, using more complex structures, including real and synthetic assets to reproduce multiple market positions.
What they largely share is a common goal of targeting positive returns in all market conditions over a specified timeframe.
The Jupiter Distribution Fund is one of a small group that offers the most simple structure of all multi-asset propositions, investing as it does in equities, bonds and cash. It is a long-only, high conviction fund that invests in the full spectrum of fixed interest securities and direct equities under, since 2010, the management of Rhys Petheram (the bond expert) and Alastair Gunn (his equities counterpart).
To avoid conflict, the Jupiter Distribution Fund has a primary objective to deliver risk-adjusted returns with a secondary objective of providing an income. The two managers are effectively paid to manage risk so their start point is a risk framework for growth in the fund from which comes an optimal level of income, yielding around 3% p.a..
Multi-asset funds cover all manner of designs, structures and propositions. At one end, there are those that invest in equities, bonds, property and cash - the traditional cautious managed fund approach. At the other, you will find those run with a far wider remit, using more complex structures, including real and synthetic assets to reproduce multiple market positions.
What they largely share is a common goal of targeting positive returns in all market conditions over a specified timeframe.
The Jupiter Distribution Fund is one of a small group that offers the most simple structure of all multi-asset propositions, investing as it does in equities, bonds and cash. It is a long-only, high conviction fund that invests in the full spectrum of fixed interest securities and direct equities under, since 2010, the management of Rhys Petheram (the bond expert) and Alastair Gunn (his equities counterpart).
To avoid conflict, the Jupiter Distribution Fund has a primary objective to deliver risk-adjusted returns with a secondary objective of providing an income. The two managers are effectively paid to manage risk so their start point is a risk framework for growth in the fund from which comes an optimal level of income, yielding around 3% p.a..
-
Income
target_
Size of
fund in £_
m
Launch date_25/02/2014
Performance
year to date_
Number of
holdings_
%
.
Kames Diversified Monthly Income Fund
pa paid monthly
Performance
since launch_
Total return
target_
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Alastair has been at Jupiter since 2007 and is a fund manager in the Value Equities team. Alastair co-manages a number of funds in Jupiter’s Distribution Range, and also manages the Jupiter Growth & Income Fund.
Rhys Petheram
Fund Manager, Jupiter Distribution Fund
Rhys joined Jupiter in 2006 and is a fund manager in the Fixed Income Team. In addition to co-managing the Jupiter Distribution Fund, Rhys manages a number of other funds including co-managing the Jupiter Enhanced Distribution Fund and the Jupiter Distribution and Growth Fund that make up the Jupiter Distribution Fund Range.
Alastair Gunn
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Alastair has been at Jupiter since 2007 and is a fund manager in the Value Equities team. Alastair co-manages a number of funds in Jupiter’s Distribution range, and also manages the Jupiter Growth & Income Fund.
JOB TITLE_ Head of risk-based
solutions research
In a universe which now consists of some complicated, and in some cases opaque multi-asset products, the Jupiter Distribution Fund has a very straightforward approach and is likely to appeal to a number of investors.Scroll down to read more...
Investors should be aware that compared to other funds which have a similar objective the Jupiter Distribution Fund has a relatively narrow remit and will predominantly be composed of high quality bonds and high yielding UK equities. In addition, as a general rule the Jupiter Distribution Fund will endeavour to be fully hedged to sterling and therefore is likely to miss out on any currency diversification benefits which these overseas assets can bring. While acknowledging the straight-forward approach, investors should not necessarily see this as a drawback and we firmly believe in playing to your strengths, which this fund certainly does. The simple structure and the exposure to direct securities means that the ongoing charge figure for the Jupiter Distribution Fund is competitive compared to many peers. For investors concerned about liquidity the Jupiter Distribution Fund should have appeal as the managers choose not to hold more esoteric investments.
The Jupiter Distribution Fund offers a simple and transparent solution which has its foundations firmly grounded in traditional equities and bonds. The success of the Jupiter Distribution Fund hinges on the managers’ ability to select the right securities at the right time and we believe they can continue to successfully do this. The managers have a proven track record of providing good risk-adjusted returns without having a broad investment remit and without the use of alternative assets. We believe the Jupiter Distribution Fund represents an attractive proposition for investors who require growth but who are not willing to take on a high level of risk, and a level which is significantly below that of equities. The awareness of the managers with their investor base and their understanding of the need to avoid permanent loss of capital is a key tenet of the strategy.
Co-managers Alastair Gunn and Rhys Petheram have over 40 years combined industry experience and each has responsibility for his own part of the portfolio and a defined investment process. Having a dual perspective on each stock, i.e. one from the bond side and one from the equity side, helps to build a clear picture of the expectations for a business, and we think gives the pair an edge. The multi-dimensional and integrated approach of the managers allows them to select where in the capital structure they wish to allocate investors’ money. For example, the portfolio has a low exposure to bank debt, as the preference is to take exposure to this area of the market through equities. This collaborative way of working and the managers’ collective knowledge of each position in the fund we believe leads to a strong understanding of overall fund risks.
Victoria Hasler, Head of Research,
Square Mile Investment Consulting and Research Limited
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market viewpoints, together with the
to bring you incisive analysis, research and
Fund Manager’s own investment strategy.
Axis interrogates the fund from four perspectives
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The Jupiter Distribution Fund is as straightforward a multi-asset fund as it comes - a long-only unit trust that invests in fixed interest securities, direct equities and cash. Its mandate is to provide both capital growth as well as not just income but a sustainable level of income.
Review By Gary Corcoran at Last Word
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Rhys Petheram is a fund manager in the Fixed Income Team. In addition to co-managing the Jupiter Distribution Fund, Rhys manages a number of other funds including co-managing the Jupiter Enhanced Distribution Fund and the Jupiter Distribution and Growth Fund that make up the Jupiter Distribution Fund Range.
Alastair Gunn is a fund manager in the Value Equities team. He co-manages a number of funds in Jupiter’s Distribution range, and also manages the Jupiter Growth & Income Fund.
In a universe which now consists of some complicated, and in some cases opaque multi-asset products, the Jupiter Distribution Fund has a very straightforward approach and is likely to appeal to a number of investors. Disclaimer »
"The dual manager approach means that the Jupiter Distribution Fund benefits from experts in both equities and fixed income and allows the managers to build a diversified portfolio capable of producing a competitive total return in a low-risk fashion. The Jupiter Distribution Fund also benefits from the wider fixed income and equity resources at Jupiter and offers good value for money compared to many peers."
“A prerequisite to good investor outcomes is diversification, both via asset allocation and security selection. We prefer multi-asset funds that focus on specific investment outcomes such as cash-plus or inflation plus objectives. The use of traditional benchmarks is not always consistent with good investor outcomes. Every asset held within a fund should be there because it will generate good risk-adjusted returns, rather than because it appears in a benchmark against which money is run.”
Ross Brookes_ head of collective research_ Charles Stanley
Juliet Schooling Latter_ director_ FundCalibre
“The Jupiter Distribution Fund is at the more cautious end of the spectrum. The two experienced managers at the helm meet companies together to analyse whether the best investment opportunities lie in their equity or debt structure. For those seeking income, this fund helpfully pays out on a monthly basis. It offers a cautious and diversified investment and the fund has a record of consistently outperforming the sector average.”
Tom Watts_ investment analyst_ Cumberland Place
“Multi-asset funds offer a one-stop solution to access a variety of underlying assets in a cost-efficient manner. They provide clients with a high level of asset diversification, and the asset split will be continuously monitored and adjusted on an active basis by the fund manager. The simplicity of funds such as the Jupiter Distribution Fund can suit investors who only want exposure to traditional asset classes and an air of straightforwardness to their portfolios.”
Jordan Sriharan_ head of fund research_ Thomas Miller Investments
“Rather than investing in multi-asset funds of differing risk profiles, we use total return-focused strategies because of the transparency around their performance target. For the time-constrained investor, the Jupiter Distribution Fund may offer an option given the fund sits within the IA Mixed Investment 0-35% shares, where the parameters limit how much risk is taken in the fund. We believe that simpler investment approaches to multi-asset funds have just as much place in a portfolio as their more complex peers. Again, the transparency around a simpler approach allows for greater confidence in the position sizing for investment."
Jupiter Distribution Fund
and market views together
Axis analyses the fund
strategy directly from the
from four perspectives to
bring you insight, research
fund manager himself.
with an explanation of the
The expertise of Petheram, Gunn and their teams means the end result is a fund that usually invests around two thirds in bonds - from high yield to investment grade (the core of its allocation) and government bonds - and one third in equities, mainly UK equities. The bond element is more global but they endeavour to hedge out any overseas currency risk.
They do not take large asset allocation bets so this may move but only by +/-5% over time, from between 28% and 33% as a guide over the past seven years.
This Distribution Fund is one of three funds that make up the broader multi-asset Jupiter Distribution Fund Range and sits at the lower, more cautious end of the risk spectrum. The Jupiter Distribution Fund typically has around 30% in equities and high yield bonds, 65% in other bonds and 5% in cash; moving up the risk scale will see an allocation of around 60% in equities and high yield bonds in the Jupiter Enhanced Distribution Fund; with around 80% in the Jupiter Distribution and Growth Fund.
The Jupiter Distribution Fund is aimed at the more cautious investor so the income element is focussed on the sustainability of the amount of income to be paid, paying out a monthly distribution that is smoothed during the course of the year to provide the predictability these investors need.
Given they are specifically targeting cautious investors the managers are very conscious of managing downside risk and attempting to avoid large capital losses. In very broad terms, equities provide a lot of the growth; bonds cushion the portfolio against periods of serious market stress; both provide an income.
They are not big asset allocators and their main driver of value is bottom-up stock selection with the integration of equity and bond security selection at the core of their process. Even though Petheram and Gunn approach the analysis of a company from the point of view of a different asset class, they both understand that most of the value in understanding a security is in that company’s fundamentals. In theory, they can own the equity and bond from the same company and they have done in practice in the past. It all comes down to valuation and, usually, whichever of the two has the greatest conviction gets to invest the cash.
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Alastair Gunn is a fund manager in the Value Equities team. He co-manages a number of funds in Jupiter’s Distribution Range, and also manages the Jupiter Growth & Income Fund.
In a universe which now consists of some complicated, and in some cases opaque multi-asset products, the Jupiter Distribution Fund has a very straightforward approach and is likely to appeal to a number of investors. Disclaimer »
Simplicity is the watchword for this cautious multi-asset proposition
“The dual manager approach means that the Jupiter Distribution Fund benefits from experts in both equities and fixed income and allows the managers to build a diversified portfolio capable of producing a competitive total return in a low-risk fashion. The Jupiter Distribution Fund also benefits from the wider fixed income and equity resources at Jupiter and offers good value for money compared to many peers”
Victoria Hasler, Head of Research,
Square Mile Investment Consulting
and Research Limited
The bond portfolio, which Petheram has responsibility for, and which will represent the largest part of the Jupiter Distribution Fund, is focused on providing stability. He is cautious by nature and therefore ideally suited to ensure his fixed income holdings and positions provide the ballast to counteract the higher risk part of the portfolio. His focus on investing in the debt of reliable companies which have sensible long-term business models, and where he feels comfortable holding each issue to maturity, has served the fund well. The long-term growth of the Jupiter Distribution Fund will be driven by Gunn, and his equity security selection. He has very clear views and can articulate in a detailed manner why he has invested in a particular company and what his expectations are for it over the medium term. The clarity with which he presents his rationale, for purchases and sales, and the depth in which he knows his companies are impressive. His investment process allows him the scope to invest in a diverse range of businesses, however the valuation discipline and the focus on dividend-paying companies should provide some downside protection and is a good complement for the bond portfolio.
Ross Brookes_ head of collective research_
Charles Stanley
Jordan Sriharan_ head of fund research_
Thomas Miller Investments
“Rather than investing in multi-asset funds of differing risk profiles, we use total return-focused strategies because of the transparency around their performance target. For the time-constrained investor, the Jupiter Distribution Fund may offer an option given the fund sits within the IA Mixed Investment 0-35% shares, where the parameters limit how much risk is taken in the fund. We believe that simpler investment approaches to multi-asset funds have just as much place in a portfolio as their more complex peers. Again, the transparency around a simpler approach allows for greater confidence in the position sizing for investment.”
The Jupiter Distribution Fund is a well-established multi-asset proposition, investing quite simply in equities, bonds and cash. Aimed at cautious investors, it has twin objectives of providing capital growth alongside a sustainable level of income.
The Jupiter Distribution Fund is as straightforward a multi-asset fund as it comes - a long-only unit trust that invests in fixed interest securities, direct equities and cash. Its mandate is to provide both capital growth as well as not just income but a sustainable level of income.
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Rhys joined Jupiter in 2006 and is a fund manager in the Fixed Income Team. In addition to co-managing the Jupiter Distribution Fund, Rhys manages a number of other funds including co-managing the Jupiter Enhanced Distribution Fund and the Jupiter Distribution and Growth Fund that make up the Jupiter Distribution Fund Range.
Alastair has been at Jupiter since 2007 and is a fund manager in the Value Equities team. Alastair co-manages a number of funds in Jupiter’s Distribution range, and also manages the Jupiter Growth & Income Fund.
In a universe which now consists of some complicated, and in some cases opaque multi-asset products, the Jupiter Distribution Fund has a very straightforward approach and is likely to appeal to a number of investors.
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JOB TITLE_ Head of risk-based
solutions research
Performance
YTD_
Data correct as at 30.09.2017
Distribution
yield_
bn
Size of
fund (£)_
Ongoing charge
figure_
% p.a
Performance
since launch_
1
2
3
4
5
6
7
8
9
0
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Juliet Schooling Latter_ director_ FundCalibre
Source: FE Analytics, Square Mile. Data from Jun ‘13 to Sep ‘17.
Notes: Max drawdown based on rolling 1-year figures; I Acc in GB
Max drawdown - Jupiter Distribution Fund
Dec ‘13
Dec ‘15
Jun ‘14
-1.0
Jun ‘17
-3.5
Percentage (%)
Jun ‘15
Dec ‘16
Max drawdown
-0.5
-2.5
Jun ‘13
-1.5
Jun ‘16
-3.0
Dec ‘14
-2.0
10
50
IA Mixed Investment 0-35% Shares
60
40
20
Jun ‘11
70
30
Jun ‘10
Jun ‘12
Source: FE Analytics. Data from 30 Jun ‘10 - 30 Sep ‘17
Notes: Petheram and Gunn have managed the fund w.e.f. Jul ‘10
Jupiter Distribution Fund
Performance under Petheram and Gunn
Dec ‘14
Dec ‘16