Wealth Shortlist Update: Jupiter Income
Important notes
This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.
22 April 2024 | 2m read
We have taken the decision to remove the Jupiter Income fund from the Wealth Shortlist.
At the beginning of April 2024, Adrian Gosden and Chris Morrison became managers of this fund, replacing existing manager Ben Whitmore. Gosden and Morrison joined Jupiter earlier this year as a result of Whitmore’s plans to leave the business.
Whitmore plans to set up his own boutique investment company, Brickwood Asset Management, subject to regulatory approval. He will remain with Jupiter until at least the end of July 2024 to ensure a smooth transition of responsibilities.
Following these changes, we expect the fund to evolve in the coming months to suit Gosden and Morrison’s investment philosophy and style. While they too are value focused, contrarian investors, they have historically invested more in smaller and medium-sized companies, which are higher risk than larger firms.
Our view
Our conviction in this fund’s long-term prospects largely lay with Ben Whitmore. He’s an expert when it comes to unearthing undervalued companies and has been managing funds investing in this manner for over two decades.
While we think Gosden and Morrison are capable and experienced investors, we don’t currently have the required conviction in them to remain on the Wealth Shortlist running this larger company biased fund.
The style the fund offers investors is one we feel we have well covered in our UK Equity Income fund selections on the Wealth Shortlist, where we have higher conviction in other managers. Jupiter Income will remain under research coverage and we will be updating clients of changes under the new management in due course.
Although we're removing the Jupiter Income fund from the Wealth Shortlist, this isn't a recommendation to make any changes to a portfolio. Investors should make sure any investments match their investment goals and attitude to risk and are held as part of a diversified portfolio. If you're not sure if an investment is suitable for your circumstances, please seek personal advice.
Scroll across to see the full table.
| Annual percentage growth | |||||
|---|---|---|---|---|---|
|
Mar 19 - Mar 20 |
Mar 20 - Mar 21 |
Mar 21 - Mar 22 |
Mar 22 - Mar 23 |
Mar 23 - Mar 24 |
|
| Jupiter Income | -25.26% | 33.30% | 9.83% | 8.12% | 5.89% |
| FTSE All Share | -18.45% | 26.71% | 13.03% | 2.92% | 8.43% |
| IA UK Equity Income | -20.75% | 32.67% | 10.87% | -0.03% | 7.67% |
Past performance is not a guide to the future. Source: *Lipper IM to 31/03/2024.
Important notes
This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.
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