Jupiter Unit Trust Managers Ltd is delighted to announce that the two funds it has launched for Philip Gibbs have achieved strong support from investors in the pre-launch fund-raising period.

By the launch date, 14 December 2009, the Jupiter Absolute Return Fund had raised in excess of £244m while the Jupiter International Financials Fund had raised more than £98m. The total amount raised during the pre-launch period includes a total of £153m of switches from the Jupiter Financial Opportunities Fund, facilitated by Jupiter through a Scheme of Arrangement.

The two UCITS III funds have been launched to enable Philip to maximise his ability to call the macro-economic environment, together with his expertise in making asset allocation and stock picking decisions. These skills have enabled him to produce a total return of 793.88% for investors in the £1.27bn Jupiter Financial Opportunities Fund since its launch in June 1997, ranking it 1st out of all 689 unit trusts over that period. On an annualised basis the Fund has returned 19.15% a year compared with 2.72% for the FTSE ASX Financials Index*. The new funds will also enable Philip to make available to retail investors the skills he has developed during the past nine years managing a long/short hedge fund.

The Jupiter Absolute Return Fund seeks to generate an absolute return independent of market conditions by investing on a global basis. The Fund will utilise the full UCITS III powers and use investment tools such as cash and derivatives in order to enable Philip to respond to changing market conditions. The Fund, which will be benchmarked against three month sterling LIBOR, will be managed in a similar style to Philip's hedge fund, albeit with the aim of less leverage and lower volatility.

The Jupiter International Financials Fund seeks to achieve long-term capital growth principally through investing in financial companies on an international basis. Unlike the Jupiter Financial Opportunities Fund however, Philip will be able to make use of the wider investment powers allowed under UCITS III i.e. to use derivatives for investment purposes, which will include the ability to short individual financial stocks and indices. The Fund, which will be benchmarked against the total return of the FTSE Global Financials Index, will have a similar investment style to Philip's offshore Sicav, the Jupiter Global Financials fund.

Philip Gibbs said: "I am extremely honoured by the level of support investors have given the two new funds, not to mention the continued support they have shown for Jupiter Financial Opportunities. While markets have already rallied sharply this year, it is my view that equities, and financial stocks in particular, should be able to make further progress while interest rates remain low. Although debt levels remain high in Western economies this is not so much the case in many emerging markets. Ultimately, Western governments will need to tackle budget deficits and economic recovery will eventually force interest rates higher, which may increase volatility."

- ENDS -

Notes to editors:

* Source: Financial Express, bid to bid, net income reinvested from 02.06.97 to 30.11.09

FUND FACTS

JUPITER ABSOLUTE RETURN FUND
. UK authorised unit trust, classified as UCITS III
. Launch date: 14th December 2009
. Sector: IMA Absolute Return sector
. Managed by Philip Gibbs
. Benchmarked against three month sterling LIBOR
. Fees: Initial fee - 5.25%, annual management fee - 1.25%.
. Performance fee: 15% outperformance above a hurdle (three month sterling LIBOR) and High Water Mark (which must be achieved before any performance fee may be applied)
. Minimum investment: £500 for lump sum investments and £50 a month for regular savers

JUPITER INTERNATIONAL FINANCIALS FUND
. UK authorised unit trust, classified as UCITS III
. Launch date: 14th December 2009
. Sector: IMA Specialist sector
. Managed by Philip Gibbs
. Benchmarked against the total return of the FTSE Global Financials Index
. Fees: Initial fee - 5.25%, annual management fee - 1.25%.
. Performance fee: 15% outperformance above a benchmark (FTSE Global Financials Index) and High Water Mark (which must be achieved before any performance fee may be applied)
. Minimum investment: £500 for lump sum investments and £50 a month for regular savers

JUPITER FINANCIAL OPPORTUNITIES FUND
. UK authorised unit trust
. Launch date: 2 June 1997
. Sector: IMA Specialist sector
. Managed by Philip Gibbs
. Benchmarked against the FTSE ASX Financials Index
. Fees: Initial fee - 5.25%, annual management fee - 1.5%.
. Minimum investment: £500 for lump sum investments and £50 a month for regular savers

Year on Year % Growth ending 31.10.2009

Past performance should not be seen as a guide to future performance.

All performance in this factsheet is based on income units in GBP.

Source: Financial Express, bid to bid net income reinvested, as at 31.10.2009

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. They are both subsidiaries 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. 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.

This document contains information based on the FTSE Financials and FTSE Global Financials indices. 'FTSE®' is a trade mark jointly owned by the London Stock Exchange Plc and The Financial Times Limited and is used by FTSE International Limited ('FTSE') under licence.  The FTSE Financials and the FTSE Global Financials indices are calculated by FTSE. FTSE does not sponsor, endorse or promote the product referred to in this document and is not in any way connected to it and does not accept any liability in relation to its issue, operation and trading.  All copyright and database rights in the index values and constituent list vest in FTSE.