For immediate release
27 September 2005

Jupiter extends range of income products with Environmental Income Fund

Jupiter is re-launching the Jupiter Environmental Opportunities Fund to meet the growing demand for income-producing investments.
The £27m Fund, managed by Peter Hulse  and launched in November 1999, will be renamed Jupiter Environmental Income on 1 October 2005. The Fund will aim to produce a 3.1% yield, in addition to capital growth, from investing primarily in UK companies with a positive environmental stance, strong growth prospects and the ability to grow dividend payments.

The change in objectives reconfirms Jupiter's belief in the long-term demand for income-producing investments. Jupiter already has a strong track record in income funds, particularly through the Jupiter Income Trust, managed by Anthony Nutt and other funds, such as the Jupiter High Income Fund, Jupiter Corporate Bond Fund and the Jupiter Distribution Fund. The Group's range of income funds was widened further in September, with the Jupiter Japan Income Fund, managed by Simon Somerville.

Emma Howard Boyd, Head of Socially Responsible Investment and Governance at Jupiter, said: "We have seen increasing demand from investors for income-producing investments and the change in objectives we have implemented for Jupiter Environmental Opportunities will ensure that investors will be able to invest in a fund that not only addresses their ethical concerns but that can provide a mixture of strong capital growth and income."

The Fund will continue to be managed by Peter Hulse with a bias towards larger cap stocks. Currently his two largest holdings - mobile phone operators Vodafone and O2 - represent 5.92% and 5% of the fund respectively. Both companies have a significant commitment to Corporate Social Responsible policies and generate recurring revenues, cash flows and growing dividend payments.

Few changes will be required for the fund to meet its new income target. Peter Hulse, manager of the Jupiter Environmental Income Fund, said: "The portfolio already produces an income so I do not anticipate having to make many changes to meet the additional yield requirement. For example, three of the Fund's existing holdings - O2, Hamworthy and International Power - have recently started paying dividends to shareholders and these will help the fund reach the 3.1% yield target.
"The outlook for companies with a positive attitude to ethical concerns is increasingly positive. Governments and business are increasingly being forced to grapple with major issues such as climate change and the decline in supply of commodities such as oil. These pressures will encourage them to increasingly seek out solutions that will benefit ethical companies."

The Jupiter Environmental Income Fund has built a strong performance track record. Since its launch in November 1999, the £27 million fund has returned 18.43%  on a bid to bid basis against 3.61% for the average UK All Companies fund. This track record places the Fund 39 out of 203 funds in the UK All Companies sector.

-ENDS-

Notes to Editors:
Jupiter Unit Trust Managers Limited (JUTM) and Jupiter Asset Management Management (JAM) are both subsidiaries of Commerzbank AG one of Germany's leading banks. Both JUTM and JAM are 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".

1.  Peter Hulse took over management of the fund in September 2003.
2.  Source: Jupiter 31.07.05.
3.  Source: S&P Micropal bid-bid with net income re-invested from 29.11.99 to 26.09.05. On 01.10.05 the fund's objective will change to aim for growth with income as opposed to growth only and this may impact performance going forwards.