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Jupiter set to launch Japan fund

Jupiter is to launch a Japan select Sicav for Simon Somerville in early July.

The Japan select fund is a sub-fund of the Luxembourg-domiciled Jupiter global fund, with Somerville given the flexibility to invest 20 per cent of the fund in other parts of Asia, such as Hong Kong, South Korea and Taiwan.

The fund will typically hold 40 to 55 stocks with Somerville set to focus on small and medium sized companies. It may also hold government bonds.

Somerville, who also manages the Japan income fund, says Japan currently represents compelling value particularly in the small-cap space where it has lagged its larger counterparts.

The fund is benchmarked against the Topix with minimum investment for the Sterling share class set at £1,000. Fees will be 5 per cent initial and AMC of 1.5 per cent.

Somerville says: “While the news flow in the export sector has been dire in the near term, increased intra-regional trade will provide significant benefits and less reliance on the West in the long term. Trade with China, for example, is now greater than trade with the US, which offers significant opportunities.”

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