Important Information:
- The Fund invests predominantly in a portfolio of equity securities of companies engaged in activities related to gold and silver.
- The Fund is subject to concentration risk and the risk of investing in gold and silver related securities. The price of gold and silver and share prices of companies engaged in related activities may be volatile.
- The Fund is also subject to risks of investing in smaller companies and in other collective investment schemes/funds which may include closed-ended funds.
- It may invest in financial derivative instruments for hedging, efficient portfolio management and/or investment purposes. Such investments may involve risks (e.g. counterparty, leverage and liquidity risks) that could result in significant loss.
- Investment involves risk. Investors should read the offering document of the Fund for further details including the risk factors.
Why invest in the Jupiter Gold & Silver Fund?
A dynamic blend of gold and silver
Investment approach
1. Dynamic allocation across gold and silver assets
Changing to match the market environment
Silver adds beta*, bullion adds liquidity and security
Note: Altering the allocation to bullion trusts vs equities and gold vs silver is a key tenet of the investment strategy but the prospectus does not detail min. and max. weights. These are internal guidelines only subject to change without notice.
*By beta, we mean volatility. Silver tends to be more volatile than gold, it offers potential for both higher returns and sharper declines.
2. Stock selection process
We narrow the investable universe to find the best companies
Meet the team
“The investment process of the strategy is based on an asset allocation model where we tilt between physical metals and mining equities, and also in focusing on a very bottom-up process whereby we do lots and lots of company meetings, and we think about our investment universe in a very qualitative way.’’
Ned Naylor-Leyland
Investment Manager, Gold & Silver
Jupiter Gold & Silver Fund risks
- Currency (FX) risk - The Fund can be exposed to different currencies and movements in foreign exchange rates can cause the value of investments to fall as well as rise.
- Pricing risk - Price movements in financial assets mean the value of assets can fall as well as rise, with this risk typically amplified in more volatile market conditions.
- Commodity prices risk - The Fund’s investments are concentrated in natural resource companies, and may be subject to a greater degree of risk and volatility than a fund following a more diversified strategy. Silver tends to outperform gold in a rising gold price environment and it tends to underperform gold when sentiment moves against the sector.
- Market concentration risk (sector) - The Fund’s mining company investments may be exposed to jurisdictions where it is possible that regulation and other government action may negatively impact the value of the investments in the Fund. For example a local government may increase taxes or royalty payments, impose stricter environmental standards and even in some more extreme cases take a stake in or even control of mines.
- Derivative risk - The Fund may use derivatives to generate returns as well as to reduce costs and/or the overall risk of the Fund. Using derivatives can involve a higher level of risk. A small movement in the price of an underlying investment may result in a disproportionately large movement in the price of the derivative investment.
- Liquidity risk - Some investments may be hard to value or sell at a desired time and price. In extreme circumstances this may affect the Fund’s ability to meet redemption requests upon demand.
- Counterparty default risk - The risk of losses due to the default of a counterparty on a derivatives contract or a custodian that is safeguarding the Fund’s assets.
- Smaller companies risk - The Fund invests in smaller companies, which can be less liquid than investments in larger companies and can have fewer resources than larger companies to cope with unexpected adverse events. In less favourable market conditions these companies may therefore underperform larger companies and the Fund may under-perform funds that invest predominantly in larger companies.
For a more detailed explanation of risks, please refer to the “Risk Factors” section of the prospectus.
Important information
This material is issued by Jupiter Asset Management (Hong Kong) Limited and has not been reviewed by the Securities and Futures Commission (“SFC”). Investment involves risk and the Hong Kong offering documents should be read for further details including the risk factors. Past performance is no guide to the future. The value of investments and the income from them can fall as well as rise and you may get back less than originally invested. No information in this material should be interpreted as investment advice. Any holdings and stock examples are used for illustrative purposes only. The views expressed are those of the presenter at the time of preparation and may change in the future. If you are unsure of the suitability of this investment please contact your Financial Adviser. Prospective purchasers of Shares should inform themselves as to the legal requirements, exchange control regulations and applicable taxes in the countries of their respective citizenship, residence or domicile. The Hong Kong offering documents and Articles of Incorporation are available at www.jupiteram.com (has not been reviewed and approved by the SFC) and upon request. Jupiter Asset Management is the Trade Name of Jupiter Asset Management (Hong Kong) Limited.
The Company is an investment company with variable capital established as an umbrella fund with segregated liability between sub-funds which is authorised and regulated by the Central Bank of Ireland pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011, as amended. Registered in Ireland under registration number 271517. Registered office: 33 Sir John Rogerson’s Quay, Dublin 2, Ireland.
Please refer to the latest Prospectus and to the Product Key Facts Statements (KFS) before making any investment decision. Particularly to the sub-fund’s investment objective, characteristics including those related to ESG (if applicable), and additional risk factors.
These documents are available from www.jupiteram.com or from www.eifs.lu/jupiteram or from:
Hong Kong: Jupiter Asset Management (Hong Kong) Limited, Unit 1501, Level 15, AIA Central, 1 Connaught Road Central, Central, Hong Kong
Information is also available on how subscriptions and redemptions can be made, and arrangements related to investor rights and complaints handling.
Unless otherwise specified in this document, The Bank of New York Mellon SA/NV, Dublin Branch / BNY Mellon Fund Services (Ireland) Designated Activity Company (the Company’s Depositary and Administrator respectively) is responsible for processing subscription, repurchase and redemption orders and making other payments to Shareholders.
Depositary and Administrator address: The Shipping Office, 20-26 Sir John Rogerson’s Quay, Dublin 2, D02 Y049. Ireland, email Distributors: JupiterIREdistributor@bny.com, email Investors: JupiterIREinvestor@bny.com
An investment is an acquisition of shares in the fund/sub-fund, not in the fund/sub-fund’s underlying assets. The fund is subject to product governance rules under MiFID II and is intended only for specified target market categories. This information is only directed at persons residing in jurisdictions where the fund/sub-fund is authorised for distribution or where no such authorisation is required. Not all share classes are authorised for distribution in all jurisdictions. Jupiter may terminate marketing arrangements.
Issued by Jupiter Asset Management (Europe) Limited (the Manager), The Wilde-Suite G01, The Wilde, 53 Merrion Square South, Dublin 2, D02 PR63, Ireland which is registered in Ireland (company number: 536049) and authorised and regulated by the Central Bank of Ireland (number: C181816).