Skip main menuFree guides | Investor relations | Accessibility | About us | Contact us | Press
My accounts Log in/out

Hargreaves Lansdown
 

Jupiter Financial Opportunities Income Units *

Sell : 366.04p | Buy : 387.66p | up 4.53p
Prices as at 02-09-2010

Help

Overview

Initial charge 5.25%
Initial saving 5.00%
Annual charge 1.50%
Annual saving 0.250% ²
Performance charges No
Total Expense Ratio 1.74%
Launch date 02-06-1997
Launch price £0.50
Sector Specialist
Fund size £1,094 million
Number of holdings 58
Fund type Unit Trust
Type of units Income

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

Help

HL Research - Our view on this Fund

Mark Dampier It has been a turbulent time for many financial stocks lately and Philip Gibbs and Guy de Blonay, managers of the Jupiter Financial Opportunities fund, have been adopting a cautious stance. Whilst recent earnings news has generally been positive, the managers are concerned that the impact of fiscal austerity in Europe is only starting to filter through to the wider economy. Additionally, they believe the outlook for the US is looking more difficult with spending restraints at a state level starting to take their toll.

Much of the fund is therefore focussed on areas where Philip Gibbs and Guy de Blonay see greater strength and growth, specifically emerging markets such as Brazil, Russia and China and selected Western countries such as Norway. They particularly favour DnB Nor, a Norwegian bank that reported strong lending growth earlier this year and has plans to expand its Asian business. The managers also favour Citigroup and Standard Chartered due to exposure to Asia as well as certain Turkish banks.

Their cautious viewpoint has also been reflected by a high cash weighting of over 30%, a position they wanted to maintain until they saw signs of market sentiment improving. Indeed, they are able to restructure the portfolio quite rapidly, and in the last month they have already begun to reduce cash exposure. In the past Philip Gibbs has tended to generate returns for investors by concentrating on getting the big calls right - being invested in the market when it is rising and sheltering capital at the right time. However he won't always make the right calls. In recent months markets have been volatile but trading in a relatively narrow range. Therefore his strategy has been to await signs of a clear sentiment change before investing further. Shorter periods don't necessarily reflect this "big picture" strategy, but his long-term record with this fund is impressive. Please note past performance is not an indication of future returns, and this is a concentrated portfolio of shares invested in a single area of the market which means it is higher risk.

The recruitment of Guy de Blonay to the fund should also be viewed as a positive. In January he re-joined Jupiter after a successful period managing the New Star Global Financials Fund. In June he was named as co-manager having worked alongside Philip Gibbs during his first spell at the company. Guy de Blonay is now involved in the day to day running of the portfolio, and is influential in decision making. Although Philip Gibbs has rightly become renowned in the industry, Guy de Blonay should not be underestimated. He brings some additional medium and small company expertise and is a well respected manager in his own right. We believe the combination is a force to be reckoned with and the fund remains on our Wealth 150 list of favourite funds in each sector.

Full research

Help

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.

Previous 1 of 2 Next
Help

Income details

Historic yield 0.20%
Income paid Bi-annually
Type of payment Dividend

All yields are variable and not guaranteed. Information as at 31-12-2009.

Help

Distribution dates

Ex-dividend date 01 May 2010
Payment date ³ 30 June 2010
Previous 1 of 2 Next

Help - Top 10

Top 10 holdings

Citigroup 8.96%
DnB NOR ASA 8.46%
Standard Chartered 8.07%
Sun Hung Kai Properties 6.67%
Bank of China (H) 4.85%
Lloyds Banking Group 4.26%
Turkiye Garanti Bankasi A.S. 3.64%
Bank of America Corp. 3.61%
Industrial and Commercial Bank of China (H) 3.00%
HSBC Holdings PLC (UK Reg) 2.98%

Top 10 sectors

Banks 69.05%
Cash and Equiv. 13.65%
Real Estate Investment & Services 7.13%
Nonlife Insurance 2.99%
Life Insurance 2.69%
Financial Services 2.56%
Equity Investment Instruments 1.43%
Non-Classified 0.48%
Nonequity Investment Instruments 0.03%

Top 10 countries

United Kingdom 18.83%
Cash and Equiv. 13.65%
United States 13.46%
China 11.25%
Turkey 10.25%
Norway 8.46%
Hong Kong 7.53%
Switzerland 3.33%
Germany 2.78%
Singapore 2.22%

Some of the data on this page and other related pages is provided to you for your information and is received from the Fund Management Company administering this fund. Hargreaves Lansdown accepts no liability for the reliability or accuracy of the data provided by third parties.

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.

Prices as at 02-09-2010. Data as at 31/07/2010.

Data provided by
FundsLibrary


Hargreaves Lansdown is authorised and regulated by the Financial Services Authority.

Disclaimer | Important Investment Notes | Terms & Conditions | Privacy Policy | Site map | Email this to a friend