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Jupiter European Income to get global feel with strategy switch

Jupiter European Income to get global feel with strategy switch

Jupiter Asset Management is seeking to convert its £27 million European Income fund into a global equity income strategy to diversify its income streams and hunt for dividend growth internationally.

The change, which is subject to unit-holder approval, will see the fund re-named the Jupiter Global Equity Income fund to reflect its new mandate.

The revamped fund will also see its manager change, from Cédric de Fonclare to Sebastian Radcliffe and Gregory Herbert.

Radcliffe has been managing the firm’s North American Income fund since January 2001, while Herbert has worked closely with Fonclare since 2007 and is manager of the European portion of the Global Managed fund.

Radcliffe and Herbert will continue in their existing roles while taking on the reins of the Global Equity Income fund.

Meanwhile, Fonclare will continue to focus on his Europe ex-UK strategy, as manager of the £608 million Jupiter European Special Situations Fund and Jupiter European Opportunities (Sicav).

Radcliffe said: ‘A global equity income mandate would give the fund more scope to potentially benefit from dividend growth in markets like the US where the proportion of earnings paid to investors has been historically low and allow for greater exposure to diverse global drivers such as personal income growth in countries like Brazil.’

The vote on the change in mandate and policy of the European Income fund will be on 19 December.

Jupiter said investors who feel the mandate of the new fund does not suit their investment objectives can withdraw their money or switch their holding free of any initial charge into another Jupiter fund within the company’s retail fund range.

Over three years, Radcliffe has delivered 38.71% on the Jupiter North American Income fund, versus the S&P 500 index’s 48.45%.

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Sebastian Radcliffe
Sebastian Radcliffe
82/168 in Equity - North America (Performance over 3 years) Average Total Return: 62.11%
Sebastian Radcliffe
Sebastian Radcliffe
82/168 in Equity - North America (Performance over 3 years) Average Total Return: 62.11%
Cedric de Fonclare
Cedric de Fonclare
50/84 in Equity - Europe Excluding UK (Performance over 3 years) Average Total Return: 36.79%
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