Jupiter UK Small, Mid and Specialist Funds
The Jupiter UK small and mid-cap equities team, headed by Dan Nickols and Richard Watts, is one of the largest and most experienced active investors in smaller and medium-sized UK companies. The team’s funds provide access to a broad range of themes and investment opportunities across the UK economy.
The fund range includes: Jupiter UK Mid Cap Fund, Jupiter UK Smaller Companies Fund, Jupiter UK Specialist Equity Fund, Jupiter UK Dynamic Equity Fund, Jupiter UK Smaller Companies Focus Fund.
Over the long term, UK small and mid-cap equities have outperformed their larger peers and delivered higher rates of earnings growth. They also are at the epicentre of IPO activity, and this means the indices are constantly refreshed. The team makes extensive use of external (top-down and bottom-up) input then overlays this with their own detailed analytical work to identify potential investment opportunities.
Meet the team
The UK small and mid-cap equity team is recognised as an industry leader. The team believes its size, scale, experience and industry reach provides a relative advantage.
Head of Strategy
Our funds
Jupiter UK Mid Cap Fund
(Richard Watts, fund manager since 2009)The fund offers investors a broad range of themes and investment opportunities across the spectrum of the UK economy from retailers to manufacturing exporters, from high-tech growth companies to established mainstream brands. Moreover, UK mid-cap companies are more internationally exposed than is generally perceived, deriving earnings both from domestic and global markets.
Undervalued growth
Mid-cap companies are often less well known than their larger counterparts – and therefore more likely to be relatively under-researched and undervalued. In the long-term, mid-cap companies can often outperform large-cap companies.Flexible approach
It is the essence of the fund’s investment approach that it is flexible enough to have the potential to be successful across the entire cycle of economic conditions. For example, if the economy is in a recovery phase, the team will look for companies likely to respond quickly to new growth.View product page
Jupiter UK Smaller Companies Fund
(Dan Nickols, fund manager since 2004)The fund offers investors a broad range of themes and investment opportunities across the spectrum of the UK economy from retailers to manufacturing exporters, from high-tech growth companies to established mainstream brands. Moreover, UK smaller companies are more internationally exposed than is generally perceived, deriving earnings both from the domestic and global markets.
Uncovering hidden value
Smaller companies tend to be less prominent and less well researched than their larger counterparts with the result that analysts and investors do not always fully understand them. Consequently, the shares may be incorrectly priced and may offer investors unrecognised value.Flexible approach
To achieve the fund’s aim of delivering long-term capital growth, the investment team takes a flexible approach, prioritising attractive returns across the entire business cycle. It seeks to combine careful analysis of the economic environment with detailed, rigorous research into hundreds of companies.View product page
Jupiter UK Specialist Equity Fund
(Tim Service, fund manager since 2016)The fund is a discretionary, alternative UK equity absolute return fund. The fund manager’s primary aim is delivering steady, positive returns through the market cycle by taking long and short positions mainly in UK equities with a focus on small and medium sized companies.
Low net exposure and low correlation
The fund is managed with very low net exposure to the UK equity market. This provides the potential to deliver positive returns in both rising and falling markets, and with less volatility than traditional equity funds.Focus on alpha generation
The fund aims to deliver alpha from both long and short positions, generated by stock picking based on both top-down and bottom-up analysis. The strategy’s short book has added meaningful alpha historically.View product page
- Investment risk – there is no guarantee that the Fund will achieve its objective. A capital loss of some or all of the amount invested may occur.
- Geographic concentration risk – a fall in the UK market may have a significant impact on the value of the Fund because it primarily invests in this market.
- Company shares (i.e. equities) risk – the value of Company shares (i.e. equities) and similar investments may go down as well as up in response to the performance of individual companies and can be affected by daily stock market movements and general market conditions. Other influential factors include political, economic news, company earnings and significant corporate events.
- Concentration risk (number of investments) – the Fund may at times hold a smaller number of investments, and therefore a fall in the value of a single investment may have a greater impact on the Fund’s value than if it held a larger number of investments.
- Liquidity risk – some investments including those in unlisted companies 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.
- Currency risk – the Fund can be exposed to different currencies. The value of your shares may rise and fall as a result of exchange rate movements.
- Derivative risk – the Fund may use derivatives to reduce costs and/or the overall risk of the Fund (i.e. Efficient Portfolio Management (EPM)). Derivatives involve a level of risk, however, for EPM they should not increase the overall riskiness of the Fund. Derivatives also involve counterparty risk where the institutions acting as counterparty to derivatives may not meet their contractual obligations.
For a more detailed explanation of risks, please refer to the “Risk Factors” section of the prospectus.
- Investment risk – there is no guarantee that the Fund will achieve its objective. A capital loss of some or all of the amount invested may occur.
- Geographic concentration risk – a fall in the UK market may have a significant impact on the value of the Fund because it primarily invests in this market.
- Company shares (i.e. equities) risk – the value of Company shares (i.e. equities) and similar investments may go down as well as up in response to the performance of individual companies and can be affected by daily stock market movements and general market conditions. Other influential factors include political, economic news, company earnings and significant corporate events.
- Smaller companies risk – smaller companies are subject to greater risk and reward potential. Investments may be volatile or difficult to buy or sell.
- Liquidity risk – some investments including those in unlisted companies 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.
- Currency risk – the Fund can be exposed to different currencies. The value of your shares may rise and fall as a result of exchange rate movements.
- Derivative risk – the Fund may use derivatives to reduce costs and/or the overall risk of the Fund (i.e. Efficient Portfolio Management (EPM)). Derivatives involve a level of risk, however, for EPM they should not increase the overall riskiness of the Fund. Derivatives also involve counterparty risk where the institutions acting as counterparty to derivatives may not meet their contractual obligations.
For a more detailed explanation of risks, please refer to the “Risk Factors” section of the prospectus.
- Investment risk – whilst the Fund aims to deliver above zero performance irrespective of market conditions, there can be no guarantee this aim will be achieved. A
- capital loss of some or all of the amount invested may occur.
- Geographic concentration risk – a rise or fall in the UK market may have a significant impact on the value of the Fund because it primarily invests in this market.
- Company shares (i.e. equities) risk – the value of Company shares (i.e. equities) and similar investments may go down as well as up in response to the performance of individual companies and can be affected by daily stock market movements and general market conditions. Other influential factors include political, economic news, company earnings and significant corporate events.
- Smaller companies risk – smaller companies are subject to greater risk and reward potential. Investments may be volatile or difficult to buy or sell.
- Liquidity risk – some investments including those in unlisted companies 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.
- Currency risk – the Fund can be exposed to different currencies. The value of your shares may rise and fall as a result of exchange rate movements.
- Derivative risk – the Fund uses derivatives to generate returns and/or to reduce costs and 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. Derivatives also involve counterparty risk where the institutions acting as counterparty to derivatives may not meet their contractual obligations.
For a more detailed explanation of risks, please refer to the “Risk Factors” section of the prospectus.
Important information
Literature
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