Jupiter International Group is opening up a new umbrella fund as it continues to expand into European and global markets.
The Jupiter global active fund is a Sicav registered in Luxembourg and can be accessed via a discretionary portfolio fund manager.
Global active has four sub-funds. These will be the pan-European growth, pan-European special opportunities, UK special opportunities and the global socially responsible investment (SRI) funds.
Pan-European growth will identify and invest in companies that could see good long-term growth. The two special opportunities funds will look for companies that are currently undervalued and which are undergoing management changes which will benefit them. The global SRI fund will invest in companies that are benefiting the environment and are also involved in community projects.
None of these areas has done well over the past year. Past performance data from Standard & Poors shows the European special situations and recovery sector declined in value by 17.6 per cent, the UK special situations and recovery sector went down 14.74 per cent and the global socially responsible sector declined by 17.93 per cent, based on £1,000 invested on a bid-to-bid basis with net income reinvested over one year to August 28, 2001.
According to Standard & Poors, of the 26 Jupiter International Group funds, six are first quartile, seven are second quartile, two are third quartile and six are fourth quartile.