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Jupiter Strategic Bond Inclusive Class L - Income (GBP)

Sell:58.34p Buy:58.34p Change: 0.01p (0.02%)
Prices as at 20 May 2022
Sell:58.34p
Buy:58.34p
Change: 0.01p (0.02%)
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 20 May 2022
Sell:58.34p
Buy:58.34p
Change: 0.01p (0.02%)
Prices as at 20 May 2022
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.

We like this highly flexible bond fund. It's run by Ariel Bezalel, a talented and experienced fund manager.

He generally seeks to achieve the highest returns possible for investors through a combination of income and growth. This includes taking more risk when the manager is positive as well as adopting a more defensive approach in tougher times in an effort to shelter the portfolio. After all, if you lose less when the markets fall, there's less ground to make up when they rise again.

Overall we see this as a more adventurous fund that might appeal to investors willing to accept larger ups and downs in their investment for the potential of higher long-term returns.

Our view on the sector

Strategic bond funds have the freedom to invest across the fixed-interest spectrum, from traditional government and corporate bonds to higher-risk high-yield bonds. They can also invest up to 20% of the fund overseas and potentially benefit from currency movements. But this relies on the skill of the fund manager in making the right calls. Given the huge flexibility fund managers in this sector have, each fund should be judged on its own merits. Some focus on generating an income while others try to grow investors' money, or shelter it when times get tougher.

Performance Analysis

Performance has been good since the fund launched. It did especially well in the aftermath of the financial crisis as Ariel Bezalel was quick to adjust the portfolio to take advantage of the recovery.

Returns haven't been as strong in recent years as he invested defensively at a time when riskier parts of the market continued to do well.

The manager's ability to get his wider economic views right and pick successful bonds has added value for investors, although there's no guarantee the past will be repeated.

The manager's willingness to take a different view from the mainstream means the fund will perform differently to peers and it won't always look good. We think the manager has the ability to do an excellent job for long-term investors though.

Investment Philosophy

The manager seeks maximum returns from across global bond markets. He analyses the economy to help him decide which areas to invest in.

He thinks he'll be able to reward investors by taking more risk when the outlook's good and by playing it safe when it's not.

Process and Portfolio Construction

At times Bezalel invests in higher-risk areas like emerging markets and high-yield bonds. At other times he'll be cautious and hold more government and quality corporate bonds. It's his economic analysis that leads these decisions.

It also drives the level of interest rate sensitivity he wants in the fund. When he expects rates to fall he's more likely to invest in bonds that have repayment dates that are further away. They'll usually see a bigger increase in value than shorter dated bonds.

He's able to invest around the world providing at least 80% of the fund is invested in bonds that are bought and sold in British pounds. He can also use derivatives which can increase risk.

We think Bezalel's skill will deliver superior long-term returns. He's given a lot of flexibility and he's prepared to have a large part of the fund invested in a particular area. This does increase risk. Like all funds though the value will fall and rise, so you could get back less than you put in.

question mark Manager Track Record Based on HL Quantitative Research

  • Jupiter High Income bond carve-out
  • Jupiter Strategic Bond Fund...
  • IA £ Strategic Bond
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Fund Track Record

20/05/17 to 20/05/18 20/05/18 to 20/05/19 20/05/19 to 20/05/20 20/05/20 to 20/05/21 20/05/21 to 20/05/22
Annual return -1.03% 4.57% 3.61% 3.43% -7.95%

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: Ariel Bezalel
Manager start date: 2 June 2008
Manager located in: London

Ariel joined Jupiter in 1997 as a member of the Fixed Interest team and currently manages the Jupiter Strategic Bond Fund (Unit Trust) and Jupiter Dynamic Bond SICAV. Ariel gained a degree in Economics from Middlesex 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