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Jupiter Absolute Return Accumulation *

Sell : 47.65p | Buy : 50.18p | down 0.07p
Last valuation as at 16-03-2010

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Overview

Initial charge 5.25%
Initial saving 5.00%
Annual charge 1.25%
Annual saving 0.100% ²
Performance charges Yes  View risks
Total Expense Ratio 1.56% ‡
Launch date 14-12-2009
Launch price £0.50
Sector Absolute Return
Fund size N/a
Number of holdings N/a
Fund type Unit Trust
Type of units Accumulation

Please read the Simplified Prospectus in addition to the information above.

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HL Research - Our view on this Fund

Mark Dampier Does this situation sound familiar? You have made your mind up to take a position in a share, bond or currency. Having thought about it for a period of time, at the final hurdle the price goes up. This puts you in a quandary. Do you go ahead or not? How many times has it deterred you, resulting in a missed profit? Similarly, many investors lament taking profits early or not selling a losing investment that has disappointed further.

Imagine if you had the foresight to move seamlessly between different types of investment. You could have held Japanese Yen in 2008, making over 70% in Sterling terms, and sailed through the worst financial crisis in living memory. You could have then put your money in the FTSE 100 at the beginning of 2009, and enjoyed a 22% increase by the end of the year. This is why we believe many investors should consider a new breed of fund that allows fund managers complete freedom to move between a comprehensive range of assets in search of the best performance. Funds of this nature can provide positive returns no matter what is happening in the economy or the market.

This approach is entirely reliant on the skill of the fund manager, as if they make the wrong decisions, the fund could lose money, even in a rising market. It is therefore vital to have a wise head at the helm. Philip Gibbs, manager of the Jupiter Absolute Return is a seasoned investor with a history of making successful calls on the stock market and the economy. His track record of timing the market is well established in the Jupiter Financial Opportunities Fund. Famously he reduced his stock market exposure at the end of 2007 and protected investors from the worst of the falls in 2008.

The fund comes equipped with a complete toolbox. This includes the capacity to 'short' and the ability to hold cash, currencies and bonds. In fact the entire armoury a fund manager might need to make money - and to shelter investors from falling asset prices too. Philip Gibbs will also not be afraid to run big cash positions should he consider it necessary. He is a manager with the experience and talent to adapt quickly to the economic landscape as it changes. However, nobody makes the correct calls all the time, and past performance is no guide to the future.

The Jupiter Absolute Return Fund aims for returns of 8 to 10% a year, placing emphasis on risk control. It is therefore suitable for more cautious investors looking for consistent returns not dependent on stock market performance. It does have a performance fee, but in this case we firmly believe it is worth paying.

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About the Fund Manager

Photo of Philip Gibbs

Philip Gibbs
Located in: London


Philip Gibbs is a graduate of Cambridge University. In 1983 he qualified as a chartered accountant with Peat Marwick Mitchell. Between 1983 and 1990 he worked for Laing and Cruickshank as a stockbroking analyst specialising in the equities of UK financial companies. Between 1990 and 1997 he performed the same role for BZW. Philip became a Director of Jupiter Asset Management in April 1997.

Philip has managed the Jupiter Financial Opportunities Fund since its launch in May 1997. He also manages the Jupiter Second Split Trust Plc Investment trust, Jupiter Global Financials SICAV and a hedge fund.

 
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Income details

Running yield N/a
Income paid Annually
Type of payment Dividend

All yields are variable and not guaranteed. There is currently no yield information available for this fund.

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Distribution dates

Ex-dividend date 01 November 2010
Payment date ³ 31 December 2010

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Top 10 holdings

Top 10 holdings currently unavailable.

Top 10 sectors

Top 10 sectors currently unavailable.

Top 10 countries

Top 10 countries currently unavailable.


‡ As the TER is usually based on actual charges and this is a new launch it can only be an estimate. It is therefore indicative only. The estimate does not include any allowance for a performance fee. If the fund performs well this figure will go up.

² Annual saving is not available in the SIPP.

³ If you elect to receive the income from a Vantage ISA, Fund or Share Account, we will collect any dividends for you and then pay them directly into your bank account within the first 10 working days of the following month.

As well as investing in shares and other assets, absolute return funds can also use derivatives to take short positions in companies. Therefore the returns depend primarily on the manager’s stock picking skills, not solely on the price of their holdings rising, and the standard analysis of the underlying investments is not applicable.

Last valuation as at 16-03-2010.

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