The Jupiter Ecology Fund aims to achieve long-term capital appreciation together with a growing income consistent with a policy of protecting the environment. This long-running green fund is celebrating its 20th anniversary in 2009.
Investing worldwide in companies which demonstrate a positive commitment to the long-term protection of the environment, the fund has rigorous ethical exclusions on the companies that experienced fund manager Charlie Thomas can invest in. The active focus is on six green investment themes: clean energy; water management; green transport; waste management; sustainable living; and environmental services.
The fund sits in the Investment Management Association's Global Growth sector, where it has held up well against its non-ethical peers, posting a top-quartile five-year return of 46.2 per cent to 30 April 2009, making it 11th out of 135 global growth funds. Assets are invested around the world: North America (24 per cent), United Kingdom (22 per cent), Europe (19 per cent) and Pacific (11 per cent), with a large cash sum available (24 per cent).
Although the global recession has weighed heavily on some of the fund's core green sectors, Mr Thomas points out that there is a great deal of capital being pledged for green projects as part of the various stimulus packages aimed at reviving the global economy. He expects the market de-rating to result in some important consolidation in the green sector, most notably among solar companies. He also says the market is providing opportunities for investment in sectors, such as water, which he has previously avoided due to high valuations.
Mr Thomas says: "We are cautiously positioned, with a high cash balance which we will put to work in companies with strong balance sheets and robust business models that we believe have been mispriced on a longer-term view."
JUPITER ECOLOGY FUND | |||
PRICE | 170.5p | SHARPE RATIO* | -0.22 |
SIZE OF FUND* | £256m | 1 YEAR PERFORMANCE | -22.73% |
No OF HOLDINGS | 80 | 3 YEAR PERFORMANCE | -5.36% |
SET UP DATE | 1 Apr 88 | 5 YEAR PERFORMANCE** | 46.20% |
MANAGER START DATE | Sep 03 | TOTAL EXPENSE RATIO* | 1.70% |
TURNOVER | na | 12 MONTH YIELD* | 0.85% |
VOLATILITY | na | MINIMUM INVESTMENT | £500 |
TRACKING ERROR | na | MORE DETAILS | www.jupiteronline.co.uk |
Source: Jupiter, www.ft.com/funds, *Morningstar, **To 30 April 2009
TOP 10 HOLDINGS
Holding | % |
Cranswick | 3.25 |
United Natural Foods | 2.81 |
Yamatake Corporation | 2.54 |
East Japan Railway | 2.48 |
Vestas Wind Systems | 2.33 |
FirstGroup | 2.31 |
Stantec | 2.26 |
Fielmann | 2.2 |
Harsco Corp | 2.19 |
Republic Services | 2.18 |
TOP 10 SECTORS
Sector | % |
Industrials | 36.25 |
Consumer Services | 13.71 |
Utilities | 5.81 |
Consumer Goods | 5.32 |
Basic Materials | 3.53 |
Health Care | 3.36 |
Oil & Gas | 2.69 |
Financials | 1.95 |
Other | 3.18 |
Cash | 24.19 |