PROSPECTS | We’re looking deeper to unlock the potential in emerging markets
Our approach to emerging markets
Global emerging markets represent a huge investment universe, offering investors a wide range of opportunities to access countries at varying stages of development.
At Jupiter, we believe giving our team the freedom to invest as they see fit, allows them to spot untapped opportunities in both emerging and frontier markets. This unconstrained approach allows the team to focus on what they believe are the most compelling individual stock ideas from a broader universe of stocks than the MSCI Emerging Markets Index – more than 4,000 in total across emerging and frontier markets.
Jupiter’s Head of Strategy, Global Emerging Markets, Ross Teverson, has more than 18 years of experience working with emerging markets and leads a team of eight fund managers and analysts with over 100 years of combined experience across a range of emerging market sectors. The fund is celebrating a three-year track record under Ross’ management.
Celebrating 3 year anniversary under fund manager Ross Teverson
An unconstrained approach
Fund Manager Ross Teverson and the team follow an unconstrained, benchmark-agnostic approach, allowing them the freedom and conviction to invest in opportunities others may miss.
Throughout the year they conduct around 1,000 company meetings and conference calls, providing a more intimate understanding of individual businesses. Ross and the team are confident in building portfolios that can look very different from the usual benchmarks, demonstrated by the fund’s high active share – typically over 90%* – and larger weighting to small and mid-cap stocks compared to the overall market. The team believes that medium and small-sized companies often have the most compelling long-term growth potential.
62% of stocks in the Jupiter Global Emerging Markets Fund are not represented in the MSCI Emerging Markets Index.*
Our change-based investment philosophy
One of the key factors the team looks for when identifying potential in emerging markets is underappreciated change. This change-based investment philosophy is centred on identifying companies that are experiencing positive change, often unnoticed or underappreciated by the markets.
We believe searching for positive change in companies is an approach that helps generate long-term returns for our clients.
Ross Teverson says: “At any point in time, we are able to find examples of companies experiencing positive change in emerging markets that has not yet been fully priced in by the market.”
It’s the ability to look deeper and gain a personal understanding of emerging market companies that helps them uncover true investment potential. Our approach: an unconstrained global emerging markets fund, managed with an emphasis on change, where Ross and the team can build a bottom-up portfolio of their highest conviction ideas.
The Jupiter Global Emerging Markets Fund invests in emerging markets, which carry increased volatility and liquidity risks. The fund invests in smaller companies, which can be less liquid than investments in larger companies and can have fewer resources than larger companies to cope with unexpected adverse events. As such, price fluctuations may have a greater impact on the fund.
For Investment Professionals Only. Not for use by Retail Investors. This advert is for informational purposes only and is not investment advice. Market and exchange rate movements can cause the value of an investment to fall as well as rise, and you may get back less than originally invested. Every effort is made to ensure the accuracy of the information but no assurance or warranties are given. Ross Teverson has been managing the fund since 01.01.15. This fund invests mainly in shares and it is likely to experience fluctuations in price which are larger than funds that invest only in bonds and/or cash. The Key Investor Information Document, Supplementary Information Document and Scheme Particulars are available from Jupiter on request. Jupiter Asset Management Limited and Jupiter Unit Trust Managers Limited are authorised and regulated by the Financial Conduct Authority. *Jupiter, as at 31.12.2017. No part of this document may be reproduced in any manner without the prior permission of JUTM or JAM.
This article contains information based on the MSCI Emerging Markets Index. Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any of such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI’s express written consent.
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All figures correct as at 19.11.2018.