Jupiter Asset Management has today launched the Jupiter Strategic Total Return and Jupiter Global Convertibles funds, which will be managed by highly regarded fund managers Miles Geldard and Lee Manzi. The Jupiter Strategic Total Return fund and the Jupiter Global Convertibles fund are UCITS III sub-funds of the Luxembourg-domiciled Jupiter Global Fund Sicav.

In the last 13 years Miles has built and managed global convertibles, fixed income and multi asset franchises. The new funds have been designed to play to the strengths Miles and Lee have established in these investment areas using an investment process that blends top down macro-economic analysis with quantitative and qualitative research at the security level.

Miles Geldard said: "We have been very pleased with the highly supportive environment at Jupiter and the active idea sharing amongst the fund management team. With our colleagues' help we look forward to achieving solid performance for our clients.

"In my view the West can expect several years of subdued economic growth because banks, governments and consumers need to de-leverage. This era of lower growth and low interest rates will make it harder to generate returns. However, with greater volatility comes greater opportunity. A higher level of uncertainty among investors should also provide greater opportunities to turn a profit from significant anomalies in relative value. We are going to structure our portfolios to reflect these current conditions. 

"In the current unstable environment we believe that the 'conservative equity' characteristic of convertible bonds as an asset class has the potential to be attractive. Convertible bonds can also be a useful diversifier away from conventional debt.

"A key factor in the management of the Jupiter Strategic Total Return Fund is the flexibility we have to back our convictions from an actively managed portfolio of different asset classes, including equities, bonds, convertible bonds, currencies and money market securities on an international basis. The Fund is intended to provide a steady return so that investors can ride the waves through what will be turbulent times. This style of management is what we have built our reputation on and we intend to stick with what we believe is a proven method."

The Jupiter Global Convertibles fund aims to achieve long term capital growth through investment in a portfolio of convertible bond securities on a global basis. It is a long only fund which will seek to maximise the asymmetric return characteristics of the asset class. It will be diversified globally and can invest in any country, industry sector, credit rating or market capitalisation.

- ENDS -

Notes to Editors

Key points: Jupiter Strategic Total Return fund
. Launch date: 1st October 2010
. Sub-fund of The Jupiter Global Fund SICAV
. UCITS III, sophisticated
. Base currency: Euro
. Benchmark for Euro: 1 month EURIBOR
. Types of units: Retail and institutional classes
. Fees:  Initial = 5%
Annual Management Charge = 1.25% (retail class), 0.75% (institutional class)
Performance = 10% of the outperformance of the NAV per share over the relevant benchmark (retail class only). A High Water Mark applies.
. Minimum investment: Retail class = £1,000, US$1,000, ?1,000, CHF1,000
Institutional class = £10m, US$10m, ?10m, CHF10m

Key points: Jupiter Global Convertibles fund
. Launch date: 1st October 2010
. Sub-fund of The Jupiter Global Fund SICAV
. UCITS III, unsophisticated
. Base currency: Euro
. Benchmark: UBS Global Focus Hedged (EUR) CB index
. Types of units: Retail and institutional classes
. Fees: Initial = 5%
Annual Management Charge = 1.7% (retail class) 0.9% (institutional class)
. Minimum investment: Retail class = £1,000, US$1,000, ?1,000, CHF1,000
Institutional class = £10m, US$10m, ?10m CHF10m

Jupiter Asset Management Limited (JAM) is authorised and regulated by the Financial Services Authority and its registered address is 1 Grosvenor Place London SW1X 7JJ. JAM is a subsidiary of Jupiter Investment Management Group Limited and the group is collectively known as "Jupiter". The above commentary represents the views of the Fund Manager at the time of preparation and may be subject to change and this is particularly likely during periods of rapidly changing market circumstances. Their views are not necessarily those of Jupiter and should not be interpreted as investment advice. Every effort is made to ensure the accuracy of any information provided but no assurances or warranties are given.