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Jupiter Income Class Z - Income (GBP)

Sell:487.08p Buy:487.08p Change: 2.56p (0.53%)
Prices as at 25 February 2021
Sell:487.08p
Buy:487.08p
Change: 2.56p (0.53%)
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now
Prices as at 25 February 2021
Sell:487.08p
Buy:487.08p
Change: 2.56p (0.53%)
Prices as at 25 February 2021
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now
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.

Ben Whitmore invests differently to many other managers. He seeks companies that've fallen out of favour with investors, but he thinks have the potential to recover. He uses a disciplined approach to identify these companies, which we like. We also admire his conviction in his decisions even if they're at odds with the market consensus. Whitmore operates a concentrated portfolio of less than 40 stocks, so each position can have a big negative or positive impact on performance, and this increases risk.

He's one of the most experienced managers around investing the way he does. We think he offers something different to many other income-focused managers. His skill at investing in unloved areas of the market could offer a good dose of diversification to an equity income portfolio. We rate Whitmore highly, which is why his fund's on the Wealth Shortlist of our favourite funds.

Our view on the sector

Equity income funds are popular with investors. Most aim to generate a rising income, and increase the value of your original investment, over the long term. The income can be paid out, or reinvested in the fund to boost long-term growth. Different fund managers take different approaches to income investing. Some focus on larger companies that are seen to be more stable and have paid regular dividends for many years. Others invest in higher-risk small and medium-sized companies. These might pay a lower income to start with, but have more growth potential. We think carefully chosen equity income funds can form the cornerstone of almost any portfolio.

Performance Analysis

Ben Whitmore's beaten the FTSE All Share index over his career. Our analysis suggests he's added value for the fund's investors over the long-term with his selection of companies and sectors to invest in.

He performed well after the dot com bubble collapse of the early 2000's and during the financial crisis. This suggests his best performance is often during market turbulence.

Companies that've fallen on hard times can remain out of favour for a long time. That means Whitmore's style of investing can fall behind the market for long periods. We saw that happen between 2004 and 2008, for example.

Whitmore's done better than the UK stock market more often than not over the long term though. His fund's performance has also had less ups and downs than the broader UK market. That means it's usually fallen less when the market's dropped but it has normally lagged a rapidly rising market. Past performance isn't a guide to the future though.

Investment Philosophy

The manager believes investing in good companies that are going through a temporary rough patch can achieve excellent long-term results. He thinks being disciplined in the search for companies with good income and growth prospects will lead to superior investment returns.

Process and Portfolio Construction

Ben Whitmore searches for unpopular companies with recovery potential. He thinks those in sound financial health, led by strong management teams, are most likely to turn themselves around. If he's confident enough in the company's future prospects, and he thinks the share price has fallen enough to make it attractive, he'll invest.

Because it can take time for companies to recover, Whitmore invests in them for the long-term. This gives their shares a better chance of rising again.

He normally invests in large UK companies with above average dividends. This means they've not normally got the growth potential of smaller companies, but they're more likely to be stable and consistent income-payers although it should be remembered all dividends are variable and not guaranteed. He'll still expect the companies he invests in to grow the value of their shares over the long term, as well as their dividends.

question mark Manager Track Record Based on HL Quantitative Research

  • Schroder Recovery A Acc
  • IA UK All Companies
  • Jupiter UK Special Situations
  • Jupiter Income Trust
  • IA UK All Companies
  • IA UK Equity Income
FROM: TO:


Fund Track Record

25/02/16 to 25/02/17 25/02/17 to 25/02/18 25/02/18 to 25/02/19 25/02/19 to 25/02/20 25/02/20 to 25/02/21
Annual return 25.37% 4.64% 1.35% -1.00% -6.92%

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: Ben Whitmore
Manager start date: 1 January 2013
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
Invest now