1:20: How do you work together as a team?
3:40: When it comes to decision-making, how collaborative is the process?
5:36: Where do your ideas come from?
7:23: What themes currently run through your portfolios?
10:39: How are Japanese companies using cash on their balance sheets to result in an uplift in value?
11:58: Do you have any passive exposure in the portfolios, or is everything actively managed?
12:45: What would you avoid right now? What keeps you up at night?
15:49: Is the gold exposure a hedge against market drawdowns, or does it serve another purpose in the portfolio?
17:30: Why don’t you hold more alternative assets like Bitcoin or infrastructure?
18:49: Looking ahead, where do you think the best future opportunities might lie?
22:08: Do you have an interesting statistic from the last couple of weeks?

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.
  • Emerging Markets Risk – Emerging markets are potentially associated with higher levels of political risk and lower levels of legal protection relative to developed markets. These attributes may negatively impact asset prices.
  • 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.
  • Market Concentration Risk (Number of holdings) – The Fund holds a relatively small number of stocks and may therefore be more exposed to under-performance of a particular company or group of companies compared to a portfolio that invests in a greater number of stocks.
  • 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.
  • Liquidity Risk (general) – During difficult market conditions there may not be enough investors to buy and sell certain investments. This may have an impact on the value of the Fund.
  • Counterparty Risk – the risk of losses due to the default of a counterparty e.g. on a derivatives contract or a custodian that is safeguarding the Fund’s assets.
  • Charges from capital – 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.
  • Stock Connect Risk – Stock Connect is governed by regulations which are subject to change. Trading limitations and restrictions on foreign ownership may constrain the Fund’s ability to pursue its investment strategy.
For a more detailed explanation of risks, please refer to the “Risk Factors” section of the prospectus.

This podcast was recorded in October 2024. This podcast is issued by Square Mile Investment Consulting and Research Limited which is registered in England and Wales (08791142) and is a wholly owned subsidiary of Titan Wealth Holdings Limited (Registered Address: 101 Wigmore Street, London, W1U 1QU).

The value of active minds – independent thinking

A key feature of Jupiter’s investment approach is that we eschew the adoption of a house view, instead preferring to allow our specialist fund managers to formulate their own opinions on their asset class. As a result, it should be noted that any views expressed – including on matters relating to environmental, social and governance considerations – are those of the author(s), and may differ from views held by other Jupiter investment professionals.

Please note

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 individuals mentioned 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.

Important information

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 not a guide to future performance. Company/Holding/Stock examples are for illustrative purposes only and 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. Awards and Ratings should not be taken as a recommendation. Every effort is made to ensure the accuracy of the information provided but no assurance or warranties are given.  This communication is for informational purposes only and is not investment advice. We recommend you discuss any investment decisions with a financial adviser, particularly if you are unsure whether an investment is suitable. Jupiter is unable to provide investment advice. An investor should read The Key Investor Information Document (KIID) before investing in the Fund.  The KIID, Supplementary Information Document and Scheme Particulars for the fund are available for download from www.jupiteram.com