The new fund, a sub fund of the firm’s Luxembourg domiciled Global Fund Sicav, will aim to achieve a high income, with the prospect of capital growth from a portfolio of investments in global fixed income securities.
International Adviser reported in February that plans were on the table for Jupiter to launch an offshore “mirror” of Bezalel’s UK-domiciled Strategic Bond Fund. While not a mirror, Jupiter said the new fund is “similar” to the UK vehicle launched in June 2008.
According to the company’s latest factsheet, the UK-domiciled unit trust has returned 65.6% over three years to 30 April 2012 compared with 41.3% for the IMA Sterling Strategic Bond sector average, placing the Fund 4th out of 60 funds in the sector. Jupiter added that Bezalel also outperformed the iBoxx Stg Non-Gilts All Maturities Index by 28.4%.
Kevin Scott, executive director, international, Jupiter Asset Management, said: “Ariel Bezalel has built an impressive track record since launching his first fund in 2008. Demand for well-managed, flexible bond funds has been high among our clients and we are delighted to be able to offer his expertise to them.”
Jupiter said the Jupiter Dynamic Bond fund has a “go anywhere” strategy, enabling the fund to invest across the range of fixed income securities, geographies and the ratings spectrum.
The fund is aimed at investors with a broad attitude to risk looking for a long term investment opportunity in line with its investment objective and policy. Typical investors in the fund are expected to be regulated asset and wealth managers, retail private clients who invest through suitably authorised intermediaries and private individuals who are experienced in making investments and who have the resources to withstand the risks associated with them.
The new fund is registered for sale in the UK, Hong Kong, Singapore, Jersey, Sweden, Austria, Finland, France, Germany, Portugal, Guernsey and the Netherlands. Jupiter said registration will be applied for in Belgium and Switzerland.
With the euro as the fund’s base currency, it will be available in euro, dollar, sterling and Swiss franc share classes, with a minimum investment of 1,000 in any of those denominations.
