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Jupiter Global Value Equity Class X - Income (GBP)

Sell:56.21p Buy:56.21p Change: 0.45p (0.79%)
Prices as at 21 January 2022
Change: 0.45p (0.79%)
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Prices as at 21 January 2022
Change: 0.45p (0.79%)
Prices as at 21 January 2022
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Our view on this Fund

This fund is on the Wealth Shortlist of funds our analysts believe have the potential to outperform their peers over the long term. However, this is not a recommendation to buy.

This fund aims to achieve long-term growth by investing in out-of-favour companies with recovery potential from around the world. That makes it different from many other global funds that focus on companies with high-growth expectations, and we think the two styles could work well together in a portfolio. Also unlike many other global funds, it invests less in the US and so could be used to gain international exposure to other stock markets.

Ben Whitmore is one of the most experienced managers investing in unloved companies. We like his and co-manager Dermot Murphy's disciplined approach, focusing on financially robust businesses with the potential to do well in future.

Our view on the sector

It's natural for UK investors to focus on funds investing in their home market. But as the world has become more connected, so has the investment landscape. There are lots of funds investing across the globe, and these can be a great way to diversify an investment portfolio. Funds in the global sector can invest anywhere in the world. But they go about this in different ways. They vary in how much they can invest in certain types of companies, sectors, countries, or regions. Some focus on developed markets or large multinational corporations, while others invest more in higher-risk emerging markets or smaller companies. Some target companies with higher-growth expectations and others search for unloved companies with the potential to recover.

Performance Analysis

Since the fund launched in March 2018 it has fallen a considerable way behind the IA Global sector average. This is a short period of time to judge performance over though. Value investing has been out-of-favour for many years, as the market has rewarded companies that have been growing, rather than ones that have fallen on hard times but could turn themselves around. Whitmore's career record running UK funds with the same approach is strong, and so we think this one has the potential to do well over the longer term, although there are no guarantees.

Investment Philosophy

Whitmore and Murphy believe good long-term investment results can be achieved by investing in companies whose shares can be bought for less than their true worth - so-called value investing. This often involves investing in businesses that are unloved, but the managers expect to eventually return to favour, which could see their share price rise.

This approach requires patience, as it can take time for companies to recover or return to favour, and there is no guarantee that they ever will.

Process and Portfolio Construction

Investors can overreact to news, information, and research. This means they may over or underestimate companies' true value. Whitmore and Murphy aim to capitalise on this.

They look for companies where the true value might be significantly underappreciated. This means that as well as having a low valuation the company must typically be in good financial health, be profitable, and have a strong brand or franchise.

Whitmore has got more right than wrong over his long career, but it doesn't work every time and he's not guaranteed to repeat his past successes.

Investments are made in a range of companies across different industries. This is so the fund doesn't depend on the fortunes of a single area. The managers invest in relatively few companies, typically 35-45, so each can contribute significantly to performance, though this increases risk. So does the flexibility to invest in smaller companies and emerging markets.

question mark Manager Track Record Based on HL Quantitative Research

  • Jupiter Global Value L GBP A Inc
  • Jupiter Global Value Equity Fund...
  • IA Global

Fund Track Record

21/01/17 to 21/01/18 21/01/18 to 21/01/19 21/01/19 to 21/01/20 21/01/20 to 21/01/21 21/01/21 to 21/01/22
Annual return n/a n/a 6.05% 1.09% 13.31%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

Fund Management Group Comment

Launched in 1985 as a specialist boutique, Jupiter has grown to be one of the UK's most successful and respected investment management groups. Jupiter currently manages assets spread across a range of UK and offshore mutual funds, multi-manager products, hedge funds, institutional mandates and investment companies. Jupiter has gained a reputation for achieving outperformance across a broad variety of portfolios specialising in different markets, including UK equities, Europe and bonds.

Information about the fund

Fund manager biography

manager photo
Manager Name: Dermot Murphy
Manager start date: 27 March 2018
Manager located in: London

Dermot joined Jupiter at the start of 2014 and is a Fund manager in Jupiter's Value team working with Ben. Prior to joining Jupiter, Dermot worked at Fidelity where he was an equity analyst. Dermot holds a BA in Commerce from the National University of Ireland, Galway.

manager photo
Manager Name: Ben Whitmore
Manager start date: 27 March 2018
Manager located in: London

Ben joined Jupiter in October 2006. He manages the Jupiter UK Special Situations Fund (Unit Trust), Jupiter Income Trust (Unit Trust) and institutional assets. Prior to joining Jupiter, Ben worked at Schroders, managing both retail and institutional portfolios and some £2bn of assets - including the £281m Schroder Recovery Fund - establishing an excellent track record as a value-driven, contrarian fund manager. Ben gained a degree in Geography from Cambridge University.

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Benchmark data provided subject to this disclaimer.
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account