|Asset Group||Asset Sub-Group||Investment Category|
|Fixed Income||Sterling bonds||Core|
Ariel Bezalel, head of fixed income at Jupiter, has been at the helm of the strategy since its inception in 2008, and says a defensive strategy remains prudent in a market that is vulnerable to unforeseen shocks. He can invest in the best opportunities globally, across a range of fixed interest securities including high-yield bonds, investment-grade bonds, government bonds and convertibles. He can also use derivatives to mitigate the risk of falling bond prices. The fund yields 2.9% and pays income quarterly.
Bezalel picks investments based on his view of the global economy, working out how much risk is appropriate to take, and which sectors and countries offer the best opportunities, considering factors such as inflation, interest rates and economic growth. When he is feeling more risk-averse, he typically has more investment-grade bonds in the portfolio. At the end of 2019, 36% was in AAA-rated bonds – the highest quality.
Since avoiding losses is his top priority, when investing in high-yield bonds he prefers the most senior bonds in a company’s capital structure. These are typically secured on the company’s assets. He also likes companies that are paying down their debts over time, which helps to improve their creditworthiness and pushes their bond prices higher.
Past performance of the underlying constituents is not a guarantee of future performance. The value of investments, and any income from them, can fall as well as rise so you could get back less than you invest.
Annual performance can be found on the factsheet of each fund, trust or ETF. Simply click on the asset’s name and then the performance tab.
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