Jupiter Merian UK Equity Income Class I Inc
Report And Accounts
Simplified Prospectus / KIID
Performance
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Top 10 Holdings
| Stock | % Weight |
|---|---|
| BP | 4.79 |
| WHITBREAD | 4.52 |
| DRAX GROUP | 4.38 |
| CENTRICA | 4.33 |
| GSK | 4.15 |
| SHELL | 3.62 |
| SAGE GROUP | 3.47 |
| GLENCORE | 3.28 |
| Diversified Energy Company Plc | 2.94 |
| ENTAIN | 2.89 |
| Total | 38.36 |
Fund Aims
To achieve income and capital growth. In seeking to achieve its investment objective the fund will aim to deliver an income, net of fees, greater than the yield of the FTSE All-Share Index and a total return (i.e. a combination of income and capital growth), net of fees, greater than the average return of the IA UK Equity Income sector over rolling 3 year periods. The fund primarily invests (at least 70%) a portfolio of UK equities.
Fund Manager
Ed is a Fund Manager in the UK All Cap team. Before joining Jupiter, Ed worked at Merian Global Investors as a UK equity income portfolio manager. Prior to this, he worked at Schroders Investment Management, first as an equity analyst and then as a fund manager. Before this, he was a fund manager at BAE Systems Pension Fund. He began his investment career at Fletcher Advisory as a technology/strategic consultant in 2000. Ed has an MA in Classics and is a CFA® charterholder.
Fund Overview
| Mid (24/11/2023) | 136.90p |
| Historic yield | 4.42% |
| Fund size (30/11/2023) | £65.85m |
| Number of holdings | 48 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.90% |
| Launch date | 01/11/2012 |
Asset Allocation
| UK Equities | 91.99% | |
| Cash and Equivalents | 5.41% | |
| International Equities | 1.61% | |
| Property | 0.99% |
Important Information
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Asset Allocation
| UK Equities | 91.99% | |
| Cash and Equivalents | 5.41% | |
| International Equities | 1.61% | |
| Property | 0.99% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Consumer Discretionary | 17.98% | - | - | - | |
| Travel & Leisure | - | 8.55% | - | - | |
| Travel & Leisure | - | - | 8.55% | - | |
| Hotels & Motels | - | - | - | 4.52% | |
| Casinos & Gambling | - | - | - | 2.89% | |
| Travel & Tourism | - | - | - | 1.14% | |
| Retail | - | 5.90% | - | - | |
| Retailers | - | - | 5.90% | - | |
| Diversified Retailers | - | - | - | 2.51% | |
| Specialty Retailers | - | - | - | 2.39% | |
| Home Improvement Retailers | - | - | - | 1.01% | |
| Consumer Products & Services | - | 2.71% | - | - | |
| Household Goods & Home Construction | - | - | 1.73% | - | |
| Home Construction | - | - | - | 1.73% | |
| Personal Goods | - | - | 0.98% | - | |
| Clothing & Accessories | - | - | - | 0.98% | |
| Media | - | 0.82% | - | - | |
| Media | - | - | 0.82% | - | |
| Media Agencies | - | - | - | 0.82% | |
| Financials | 17.73% | - | - | - | |
| Banks | - | 8.46% | - | - | |
| Banks | - | - | 8.46% | - | |
| Banks | - | - | - | 8.46% | |
| Insurance | - | 7.61% | - | - | |
| Non-life Insurance | - | - | 4.02% | - | |
| Reinsurance | - | - | - | 2.13% | |
| Property & Casualty Insurance | - | - | - | 1.89% | |
| Life Insurance | - | - | 3.59% | - | |
| Life Insurance | - | - | - | 3.59% | |
| Financial Services | - | 1.65% | - | - | |
| Investment Banking & Brokerage Services | - | - | 0.94% | - | |
| Asset Managers & Custodians | - | - | - | 0.94% | |
| Finance & Credit Services | - | - | 0.71% | - | |
| Mortgage Finance | - | - | - | 0.71% | |
| Utilities | 10.63% | - | - | - | |
| Utilities | - | 10.63% | - | - | |
| Electricity | - | - | 6.30% | - | |
| Conventional Electricity | - | - | - | 6.30% | |
| Gas, Water & Multi-utilities | - | - | 4.33% | - | |
| Multi-Utilities | - | - | - | 4.33% | |
| Health Care | 10.44% | - | - | - | |
| Health Care | - | 10.44% | - | - | |
| Pharmaceuticals & Biotechnology | - | - | 8.72% | - | |
| Pharmaceuticals | - | - | - | 8.72% | |
| Medical Equipment & Services | - | - | 1.72% | - | |
| Medical Equipment | - | - | - | 1.72% | |
| Energy | 9.55% | - | - | - | |
| Energy | - | 9.55% | - | - | |
| Non-Renewable Energy | - | - | 9.55% | - | |
| Integrated Oil & Gas | - | - | - | 8.41% | |
| Oil: Crude Producers | - | - | - | 1.14% | |
| Industrials | 9.55% | - | - | - | |
| Industrial Goods & Services | - | 7.13% | - | - | |
| Electronic & Electrical Equipment | - | - | 2.78% | - | |
| Electronic Equipment: Control & Filter | - | - | - | 2.78% | |
| Industrial Support Services | - | - | 2.60% | - | |
| Professional Business Support Services | - | - | - | 1.45% | |
| Business Training & Employment Agencies | - | - | - | 1.15% | |
| General Industrials | - | - | 1.75% | - | |
| Containers & Packaging | - | - | - | 1.75% | |
| Construction & Materials | - | 2.42% | - | - | |
| Construction & Materials | - | - | 2.42% | - | |
| Cement | - | - | - | 2.42% | |
| Consumer Staples | 5.67% | - | - | - | |
| Food, Beverage & Tobacco | - | 4.06% | - | - | |
| Tobacco | - | - | 2.93% | - | |
| Tobacco | - | - | - | 2.93% | |
| Food Producers | - | - | 1.13% | - | |
| Food Products | - | - | - | 1.13% | |
| Personal Care, Drug & Grocery Stores | - | 1.61% | - | - | |
| Personal Care, Drug & Grocery Stores | - | - | 1.61% | - | |
| Food Retailers & Wholesalers | - | - | - | 1.61% | |
| Cash and Equivalents | 5.41% | - | - | - | |
| Technology | 4.99% | - | - | - | |
| Technology | - | 4.99% | - | - | |
| Software & Computer Services | - | - | 4.99% | - | |
| Software | - | - | - | 3.47% | |
| Consumer Digital Services | - | - | - | 1.52% | |
| Basic Materials | 4.01% | - | - | - | |
| Basic Resources | - | 4.01% | - | - | |
| Industrial Metals & Mining | - | - | 4.01% | - | |
| General Mining | - | - | - | 4.01% | |
| Non-Classified | 2.94% | - | - | - | |
| Real Estate | 1.12% | - | - | - | |
| Real Estate | - | 1.12% | - | - | |
| Real Estate Investment Trusts | - | - | 0.99% | - | |
| Retail REITs | - | - | - | 0.99% | |
| Real Estate Investment & Services | - | - | 0.13% | - | |
| Real Estate Holding and Development | - | - | - | 0.13% | |
Regional Allocation
| UK | 91.99% | |
| Cash and Equivalents | 5.41% | |
| Developed Europe - Excl UK | 1.61% | |
| Property | 0.99% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 98.94% | |
| Cash | 1.02% | |
| Pound Sterling | 0.04% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| UK | 91.99% | - | |
United Kingdom
|
- | 91.99% | |
| Cash and Equivalents | 5.41% | - | |
| Developed Europe - Excl UK | 1.61% | - | |
Ireland
|
- | 1.61% | |
| Property | 0.99% | - | |
Breakdown By Market Cap (%)
| Mega |
|
27.51% |
| Large |
|
26.62% |
| Medium |
|
28.22% |
| Small |
|
8.49% |
| Micro |
|
0.13% |
| Non-Classified |
|
3.62% |
| Cash |
|
5.41% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | BP | 4.79% | Non-Renewable Energy | United Kingdom |
| 2 | WHITBREAD | 4.52% | Travel & Leisure | United Kingdom |
| 3 | DRAX GROUP | 4.38% | Electricity | United Kingdom |
| 4 | CENTRICA | 4.33% | Gas, Water & Multi-utilities | United Kingdom |
| 5 | GSK | 4.15% | Pharmaceuticals & Biotechnology | United Kingdom |
| 6 | SHELL | 3.62% | Non-Renewable Energy | United Kingdom |
| 7 | SAGE GROUP | 3.47% | Software & Computer Services | United Kingdom |
| 8 | GLENCORE | 3.28% | Industrial Metals & Mining | United Kingdom |
| 9 | Diversified Energy Company Plc | 2.94% | Non-Classified | United Kingdom |
| 10 | ENTAIN | 2.89% | Travel & Leisure | United Kingdom |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Technology | 4.99% | - | - | - | - | - | - | - | 4.99% |
| Financials | 17.73% | - | - | - | - | - | - | - | 17.73% |
| Real Estate | 0.13% | - | - | - | - | 0.99% | - | - | 1.12% |
| Consumer Discretionary | 17.98% | - | - | - | - | - | - | - | 17.98% |
| Consumer Staples | 5.67% | - | - | - | - | - | - | - | 5.67% |
| Energy | 9.55% | - | - | - | - | - | - | - | 9.55% |
| Utilities | 10.63% | - | - | - | - | - | - | - | 10.63% |
| Health Care | 10.44% | - | - | - | - | - | - | - | 10.44% |
| Industrials | 7.93% | 1.61% | - | - | - | - | - | - | 9.55% |
| Basic Materials | 4.01% | - | - | - | - | - | - | - | 4.01% |
| Cash and Equivalents | - | - | - | - | - | - | - | 5.41% | 5.41% |
| Non-Classified | 2.94% | - | - | - | - | - | - | - | 2.94% |
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for investment professionals and is for information purposes only.
Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Identification Codes
| Sedol Code | B1XG915 |
| Mex Code | PCOMQN |
| Isin Code | GB00B1XG9151 |
| Citi Code | A3E8 |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.90% |
Aims and Benchmark
| Aims | To achieve income and capital growth. In seeking to achieve its investment objective the fund will aim to deliver an income, net of fees, greater than the yield of the FTSE All-Share Index and a total return (i.e. a combination of income and capital growth), net of fees, greater than the average return of the IA UK Equity Income sector over rolling 3 year periods. The fund primarily invests (at least 70%) a portfolio of UK equities. |
| Benchmark | IA UK Equity Income sector average |
| Benchmark Category | - |
| IA Sector | UK Equity Income |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | OEIC |
| Launch price | £1.00 |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Quarterly |
| Distribution Type | Dividend |
| Distribution Payment Basis | Net |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 01 February | 31 March |
| 01 May | 30 June |
| 01 August | 30 September |
| 01 November | 31 December |
Ratings
| FE Crown |  |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| - | - |
Fund Administration
| Fund Trustee/Depository | Northern Trust Global Services Limited |
| Fund Administrator | Northern Trust Global Services Limited |
| Fund Registrar | SS&C TECHNOLOGIES INC |
| Fund Custodian | The Northern Trust Company |
Group Details
| Group name | Jupiter Unit Trust Managers Limited |
| Group address | The Zig Zag Building, 70 Victoria Street, London, SW1E 6SQ |
| Group telephone | 020 3817 1063 |
| Dealing telephone | 0800 561 4000 |
| intermediary-sales-support@jupiteram.com | |
| Homepage | www.jupiteram.com |
| Fax number | 0800 561 4001 |
Dealing
| Minimum Investment | £5000000 |
| Minimum Top Up | £1500000 |
| Minimum Regular Saving | - |
| Settlement Period: Buy | 4 days |
| Settlement Period: Sell | 4 days |
| Pricing Basis | Forward |
| Dealing Decimals | 3 |
Important Information
Ongoing charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | 3.53 |
| Beta | 1.09 |
| Sharpe | 0.58 |
| Standard Deviation | 13.00 |
| Info Ratio | 0.85 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | Yes |
| Emerging Markets | No |
| Concentrated Portfolio | Yes |
| Smaller Companies | No |
| High Yield Bonds | No |
| Sector Specific | No |
| Geared Investments | Yes |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | No |
| Exchange Rate | No |
| Higher Risk | No |
| Performance Charges | No |
| Derivative Exposure | Yes |
| Offshore | No |
| Income Eroding Capital Growth | No |
| Umbrella Liabilities | Yes |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | Yes |
| Ethical Restrictions | No |
| Liquidity | Yes |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Charges to Capital
Part, or all of the periodic annual management fee(s) and expenses may be charged to capital which could increase the potential for the capital value of your investment to be eroded. Your capital could also decrease if income withdrawals exceed the growth rate of the fund(s).
Concentrated Portfolio
The fund may invest in a relatively smaller number of stocks. This stock concentration may carry more risk than funds spread across a larger number of companies.
Geared Investments
The fund focuses on geared investments. Funds which focus on geared investments such as warrants or options carry a higher degree of risk than other equity investments because of the risk of the underlying investments. It is possible that the fund may suffer sudden and large falls in value so that the short fall on cancellation, or the loss of the realisation on the investment at any time after the investor has bought the contract, could be very high and could even equal the amount invested, in which case you would get nothing back.
Value of Investments
The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.
Investments Long Term
Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.
Derivative Exposure
The fund invests in derivatives as part of its investment strategy, over and above their use for Efficient Portfolio Management (EPM). Investors should be aware that the use of these instruments can, under certain circumstances, increase the volatility and risk profile of the Fund beyond that expected of a fund that only invests in equities. The fund may also be exposed to the risk that the company issuing the derivative may not honour their obligations which in turn could lead to losses arising.
Umbrella Liabilities
If the liabilities of one fund were to exceed its assets, the other funds within the scheme might have to transfer across money to cover the liabilities.
Solvency of Bond Issuers
If the fund you choose invests in bonds there is a risk that the issuer may default, resulting in a loss to the portfolio.
Liquidity
This fund can suffer from partial or total illiquidity, which may lead to considerable price fluctuations and the inability to redeem your investment.
Returns Are Not Guaranteed
What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.
Inflation
Inflation will reduce the real value of your investments in future.
Taxation and Tax Relief
Levels of taxation and tax relief are subject to change.
Important Information
The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Important Information
Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
'Prudential' is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.