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Julian Gibbs

When a leading fund management group such as Jupiter launches a fund, it is something that all IFAs and investors should consider. Its distribution fund is certainly an excellent one for these uncertain times.

Jupiter has won over 100 awards in the last five years and has been voted Unit Trust Group of the Year by What Investment? magazine every year for the past three years.

Tony Nutt, who runs the equity part of the new portfolio, manages the Jupiter high-income fund which has outperformed all other funds in its sector over the past three and five years. It is also one of the few funds to achieve an AAA rating from Standard & Poor&#39s.

John Hamilton, who runs the fixed-interest part of the portfolio, has been voted by Citiwire as one of the top five corporate bond fund managers in the three years to the end of November 2001.

The fund aims to provide a sustainable target income of about 5 per cent a year while protecting the capital value and offering an opportunity for long-term growth. It is a conservatively-run fund which will invest around 65 per cent of its portfolio in corporate bonds, convertibles and other fixed-interest securities and the remainder in higher-yielding, mainly UK equities with prospects of capital growth.

An important point for Isa investors is that, because over 60 per cent of the fund is invested in bonds, no taxes are paid on the income. Unlike ordinary equity funds, Jupiter&#39s distribution fund will able to reclaim 20 per cent tax on its income if invested through an Isa or Pep transfer. This is an advantage over distribution bonds.

I can certainly recommend this trust for all those investors requiring an above-average income with the probability of long-term growth. It should be a top performer in its sector.


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