What is the Jupiter Japan Income Fund?
  • A premium-yielding, core-growth Japanese equity fund.
  • Strong fundamental focus – seeking businesses with the ability and willingness to increase pay-outs.
  • Multi-cap strategy – able to capitalise upon opportunities across the market capitalisation spectrum.

  • The Fund’s objective is to provide income together with the prospect of capital growth in order to provide a return, net of fees, higher than that provided by the TOPIX Index over the long term (at least five years).
Designed to exploit market inefficiency
The Japanese market is highly inefficient…

  • Japan has c.3,800 listed securities, but analyst coverage is relatively poor and a third of the market is held for strategic, not economic reasons.

… which creates opportunities for active investors.
  • Through careful stock selection it is possible to build a portfolio with characteristics superior to, or at least comparable with, the wider Japanese equity market on multiple axes, such as yield, valuation, quality, dividend growth, earnings growth and financial stability.
Core investment focus
  • In a marketplace where funds are often firmly polarised into growth or value styles, the Jupiter Japan Income Fund is positioned in the middle, as a core Japanese equity product.
  • The balance of value and growth within the portfolio has stayed consistent over time, with no material style drift.
  • The bulk of the portfolio is invested in companies which the investment team believes can deliver either a high yield while still growing, or high growth companies that nevertheless offer a yield to shareholders.
Sustainability principles and approach
The Jupiter Japan Income Fund has no explicit ESG mandate, although it does integrate stewardship and sustainability analysis into its investment process.
Fund benefit diagrams
Funding balance

Fund specific 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.

Market Concentration Risk (Geographical Region/Country) – Investing in a particular country or geographic region can cause the value of this investment to rise or fall more relative to investments whose focus is spread more globally in nature.

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.

Derivative risk – the Fund may use derivatives to reduce costs and/or the overall risk of the Fund (this is also known as Efficient Portfolio Management or “EPM”). Derivatives involve a level of risk, however, for EPM they should not increase the overall riskiness of the Fund.

Charges from capital – Some or all of the Fund’s charges are taken from capital. Should there not be sufficient capital growth in the Fund this may cause capital erosion.

For a more detailed explanation of risk factors, please refer to the “Risk Factors” section of the Scheme Particulars.

This is a marketing communication. Investors should carefully read the Key Investor Information Document (KIID), Supplementary Information Document (SID) and Scheme Particulars, particularly to the fund’s investment objective and characteristics including those related to ESG (if applicable), before making any final investment decisions. These are available from the document library.

Important information

This document is intended for investment professionals and is not for the use or benefit of other persons, including retail investors. This document is for informational purposes only and is not investment advice. Market and exchange rate movements can cause the value of an investment to fall as well as rise, and you may get back less than originally invested. Past performance is no guide to the future. The views expressed are those of the Fund Manager(s) at the time of writing, are not necessarily those of Jupiter as a whole and may be subject to change. This is particularly true during periods of rapidly changing market circumstances. Every effort is made to ensure the accuracy of any information provided but no assurances or warranties are given. Holding examples are not a recommendation to buy or sell. Quoted yields are not a guide or guarantee for the expected level of distributions to be received. The yield may fluctuate significantly during times of extreme market and economic volatility. Issued by Jupiter Unit Trust Managers Limited (JUTM), registered address: The Zig Zag Building, 70 Victoria Street, London, SW1E 6SQ which is authorised and regulated by the Financial Conduct Authority. No part of this document may be reproduced in any manner without the prior permission of JUTM. 28032