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Somerville to run new Jupiter Japan select fund

Jupiter is setting up a Japan select Sicav next month to be managed by Simon Somerville.

It is a sub-fund of the Luxemburg-domiciled Jupiter global fund, with Somerville given the flexibility to invest 20 per cent in other Asian countries.

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

Somerville joined Jupiter in January 2005 and has been running the Japan income fund since September that year. The bottom-up stockpicker considers that Japan currently represents compelling value relative to other markets while smaller comp- anies are lagging behind bigger firms in Japan.

He says the export sector has been affected by external factors but the domestic sector is relatively stable, having not suffered as much following the financial crisis.


Switching syndrome

I was very interested in Paul Beard’s problems in doing a switch within the Pru and then it taking a long time.

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This months Merrill Lynch Global Fund Manager Survey shows that asset allocators have moved overweight in equities for the first time in more than a year. The impressive performance of equity markets over the past three months has resulted in a net 9% overweight in the asset class, while bonds allocations were reduced to 15% […]


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