Jupiter Asset Management is pleased to announce the launch of the £415 million Jupiter UK Multi Cap Income Fund (“the Fund”), managed by Adrian Gosden and Chris Morrison, who joined the firm in January from GAM Investments.

Having launched the strategy in 2017, under its previous name, the GAM UK Equity Income Fund, Adrian and Chris continued to manage the vehicle on a sub-advisory basis with GAM since joining Jupiter. A shareholder resolution in June approved the merger of the fund into the Jupiter UK Multi Cap Income Fund.

Between January and the end of June, the Fund returned 8.0% compared to 7.4% for the FTSE All-Share benchmark index. The Fund has returned 40.2% versus 30.9% for the FTSE All-Share over five years.¹

Adrian Gosden, portfolio manager of the Jupiter UK Multi Cap Income Fund, said:

“The new highs achieved by the FTSE 100, busy corporate activity and inflation hitting the 2% target should encourage a more positive narrative on UK equities. With the total cash yield (dividend and buybacks) for the FTSE 100 in 2024 over 6.5%, we believe the UK market offers investors a very attractive combination of dividend delivery and capital appreciation over the next 12-months.”²

Kiran Nandra, Head of Equities at Jupiter, said:

“The UK market has very healthy underlying fundamentals and there is every reason to hope that the new government will bring some much-needed political stability and a clear strategy for industrial growth that will cement the country’s recovery and its appeal to international investors. We have strengthened our equities platform over the past year to be able to offer investors a compelling and differentiated choice when they feel the time is right to increase allocations to UK stocks.”

1 Past performance is not a guide to future performance

2 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

Important Information:

Marketing communication. The information contained in this market commentary is intended solely for members of the media and should not be relied upon by private investors or any other persons to make financial decisions.

It does not constitute an invitation to invest or investment advice in any way. Every effort is made to ensure the accuracy of any information provided but no assurances or warranties are given.

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.

The views expressed are those of the Fund Manager 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.

Issued in the UK by Jupiter Asset Management Limited, registered address: The Zig Zag Building, 70 Victoria Street, London, SW1E 6SQ is authorised and regulated by the Financial Conduct