Jupiter is delighted to announce the launch of the Jupiter India Fund on 1st February 2008.  The new Fund, which will be aimed at experienced investors*, will be managed by Avinash Vazirani and will aim to achieve long term capital growth by investing in companies which operate or reside in India.  There will be a 50p fixed price offer period from launch date to 3rd March 2008.

The Jupiter India Fund will invest in a diversified portfolio, holding around 60 stocks, with a bias towards medium and larger sized companies in order to preserve the liquidity of the fund.  Avinash will be looking to invest in a diversified range of stocks which meet his investment criteria to achieve growth at a reasonable price, while managing risk in the portfolio.

Avinash, who joined Jupiter with his team in July 2007, has more than 12 years experience managing emerging market equities.  The Peninsular South Asia Access Fund, managed by Avinash, has provided a cumulative return of 1437% over ten years compared with a return of 936.07% from its benchmark.1

Avinash believes Indian markets offer an excellent long term investment opportunity:  "India offers investors a chance to benefit from the very strong internal growth story that seems set to drive the Indian economy for the foreseeable future.  The recent stock market volatility has driven down valuations offering some real bargains among quality companies.

"India is already the fourth largest economy in the world in terms of purchasing power parity and is projected to be around 60% of the size of the US economy by 2025.2  In 2005-06 the economy enjoyed Gross Domestic Product (GDP) growth of 9% and 9.6% in 2006-07.3  Similar rates are forecast for the next two years and, it is worth noting that Indian growth rates have exceeded analyst expectations every year for the past five years.  This compares to a forecasted growth rate of below 4% for a mature economy like the US and around 2% for the European Union and Japan.4 

"The growth dynamic in India is based on domestic consumption, services, high levels of investment and infrastructure spending.  India is now experiencing the positive impact affects of a 'baby boomer' generation, lots of young people born in the 1980s supporting a much smaller proportion of older workers - this favourable demographic profile 'the 'demographic dividend' is having a positive impact upon the Indian economy.  In fact, India has one of the highest proportions of economically active citizens in the world and a population size of 1.13billion people, 60% of whom are below 30 years of age.5

"This highly educated and skilled 'middle class' is growing.  They are earning more, spending more and saving more, setting the stage for a long term consumer-driven boom. Furthermore, there is a huge amount of wealth being created by entrepreneurs, many of whom control some of India's biggest companies."

"The Indian economy has been through a fundamental shift over the past 30 years, moving from an agriculturally-based to a service economy in which services account for more than 50% of GDP.6  This particular characteristic sets it apart from other emerging economies.

"India is an open economy and there is substantial potential for growth bolstered by foreign exchange inflows.  However the economy is not dependent on foreign money as it is underpinned by domestic institutional money.  Domestic life insurance companies are amongst the biggest investors at present.

"India plans to spend an estimated US$475bn between now and 2012 on roads, railways, ports, electricity transmission lines and other infrastructure.7  The development of a world class infrastructure is central to India's emergence as a global economic powerhouse.

"The Indian stockmarket offers one of the world's most diversified basket of stocks and sectors.  There are around 7000 companies listed on the Indian stock exchange with over 225 companies having a market capitalisation over US$1bn.8 The stock market is also broadly based, with only one sector currently making up more than 15% of the market, and one of the most liquid in the world, with turnover now five times higher than in 2003, at US$25bn per day.9"

* The Fund is invested in a single emerging geographical area and so there is an increased risk of volatility in addition to exchange rate fluctuations.  Returns may also be affected by external geopolitical factors.  It is aimed at investors with a medium to long term outlook who can accept the potential risks of emerging market investment. Potential investors are particularly advised to read the specific risks applicable to this Fund which are contained in the Key Features (incorporating the Simplified Prospectus).

For further information, potential investors can contact Jupiter Customer Services on 020 7314 7600 or log on to www.jupiteronline.co.uk

-ENDS-

1. Source: Jupiter Asset Management as at 31.12.07.  IFCI India TR Index until 31.12.01, MSCI India TR from 31.12.01
2. Source: www.economywatch.com/indianeconomy/indian-economy-overview.html
3. The Goldman Sachs Group, Inc. - 31 January 2008
4. Source: Citigroup estimate - January 2008
5. CLSA Central Intelligence Agency - December 2007
6. Source: CSO, RBI, MoF, Citigroup estimates, IIF, Deutsche Bank - January 2008
7. The Economic Times, 14 December 2007
8. Bloomberg 17 January 2008
9. Bloomberg, BSE, NSE - January 2008

Notes to Editors

FUND FACTS
. UK authorised unit trust, classified as UCITS
. Fixed price offer period from 1st February to 12pm on 3rd March 2008
. Managed by Avinash Vazirani
. Benchmarked against MSCI India index
. Fees: 5.25% initial and 1.5% annual management charge
. Minimum investment: Lump sum = £500, Monthly saving = £50
. Sterling denominated

AVINASH VAZIRANI BIOGRAPHY
. Managed South Asia Access Fund for over 12 years since launch.
. Founder of Peninsular Capital Partners LLP
. Prior to that, he was Chief Investment Officer South Asia and Africa at BNP Paribas Asset Management UK Limited
. Chief Executive Officer of GEM Dolphin Investment Managers Limited, a joint venture fund management company which managed collective investment schemes
. Responsible for setting up and then managing the fund management activities of Global Emerging Markets Group, until its sale in 1997
. Led the management buy-in of John Lusty Group plc, a publicly quoted food manufacturer and distributor and served as its Chief Operating Officer
. Qualified as a Chartered Accountant and was a Senior Manager with Price Waterhouse

NOTE

Jupiter Unit Trust Managers Limited (JUTM) and Jupiter Asset Management Limited (JAM) are both authorised and regulated by the Financial Services Authority and their registered address is 1 Grosvenor Place London SW1X 7JJ. 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. They are not necessarily those of Jupiter and should not be interpreted as investment advice. Past Performance should not be seen as a guide to future returns, the value of an investment and the income from it can fall as well as rise and may be affected by exchange rate variations. Every effort is made to ensure the accuracy of any information provided but no assurances or warranties are given.