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Jupiter Strategic Bond

Elite Rated by FundCalibre

This flexible ‘go-anywhere’ bond fund allows the manager considerable freedom to exploit opportunities across global bond markets. The aim is to achieve a high income, but with the prospect for growth, although in practice the manager is prepared to sacrifice yield in order to preserve capital. He is quite cautious in his approach and emphasises limiting the downside in tough markets.

Company Description

Founded in 1985, Jupiter Asset Management has grown from a specialist investment boutique to a global fund management company. It provides a range of products from bond and equity funds to multi-asset strategies for both retail and institutional clients.

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Fund Manager

Ariel Bezalel joined Jupiter in 1997 as a member of the fixed interest and multi-asset team and has managed this fund since launch. He is supported by Rhys Petheram, who co-manages Elite Rated Jupiter DIstribution, and a team of eight credit analysts. Ariel has a degree in economics from Middlesex University.

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Human emotions are very much involved when managing people’s money. That’s where you’ve got to try and step away from that, ignore a lot of the day to day noise and stick to your investing principles.

Ariel Bezalel - Fund Manager

The Investment Process

Ariel and his team conduct their own macroeconomic research, analysing global monetary policy and data relating to economic activity. Once they have formulated their views, they will then decide in which bonds to invest, looking at maturity dates, geographic regions and credit quality. Extensive company research is conducted at this stage. The team use derivatives extensively and take short positions to profit from falling bond prices.

Risk

Shorting positions can add to the risk in a portfolio. However, over recent years, the manager’s cautious approach has resulted in the fund having a lower risk score than its sector.

Our Opinion

Since launch, Ariel has demonstrated that he has an aptitude for reading the economic cycle. This, combined with some solid stock picking, has seen the fund perform well. His emphasis on controlling the downside has helped the fund to post some exceptional risk-adjusted returns, and it is this that sets the fund apart from many of its peer group.

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