Jupiter UK Growth Investment Trust PLC (LON:JUKG) aims to generate long-term capital growth, primarily through investing in UK-listed equities. With few investment constraints, the manager, Steve Davies focuses on fundamental stock selection to build a concentrated portfolio of around 35 investments. Active engagement with companies’ chairmen and non-executive directors is a key part of the investment process, and contributes significantly towards the manager’s level of conviction. Davies believes stock-market drivers are changing as several big investment themes come to an end. He expects stock-picking to come back into focus and JUKG should be well-placed in this environment. On 30 November, the rollover of Jupiter Dividend & Growth Trust (JDG) into JUKG resulted in an increase in assets of £24.6m and the issue of 7.8m new shares.
Investment strategy: Bottom-up, active engagement
The manager’s investment approach is rigorous, involving detailed fundamental analysis of financial statements, as well as spending time with companies’ management teams and engaging with their board members. A relatively concentrated portfolio of c 35 stocks allows this labour-intensive approach. A new analyst, James Moir, dedicated to the UK growth strategy, adds significant research capacity for JUKG.
To read the entire report Please click on the pdf File Below: