Jupiter Absolute Return

This fund charges a performance fee of 15% if it returns more than Libor,currently .8%,pays no dividend or interest and has lost money when most markets and commodities have been going up,some quite substantially.

But perhaps this year will be different.

Lets hope his short position works. The fund is running very 'short' on performance.

Is there any truth in the rumour that Jupiter have applied to change this funds name?

To.... Jupiter Absolutlely No Returns Fund

I still have a large stake in this fund but have been selling it consistently over the last 6 months.

Neither this or the financial Opps fund has done anything for 3 years now.

Mark

indeed-it does puzzle me why his funds are still being promoted so much -in fact I think the fund has actually lost money since launch so I think the heading

at the top of this article is incorrect.It also describes Gibbs as "the UK's top fund manager" which depends on when you invested in his funds and certainly

does not apply to his Absolute No Return fund.

Over this period just about any fund could have returned say 15% so Citywire pushing this fund without reservation seems a bit strange.

I purchased this Fuhd via HL following a very bullish promotion campaign and also questioning the justification for performance fees. I regret that my concern has proved to be correct and I have since sold my holding. I am waiting patiently for Philip Gibgs to get his act together on his Jupiter Financial Fund but it would appear to be a long wait. I'm afraid that on his past year's performance, he is a long way short of a top-performing manager.

I also bought into the hype but sold within 6 months. I'm concerned that when a Company "floats" and makes the top guys multi-millionaires, their incentive to make money for their investors diminishes. I've just checked out the performance of several Jupiter funds and I'm glad I no longer hold any.