Jupiter US Smaller Companies PLC Edison reviews Jupiter US Smaller Companies (JUS)
2017年11月2日 - 9:52PM
RNSニュース (英語)
TIDMJUS
Jupiter US Smaller Companies PLC
02 November 2017
London, UK, 2 November 2017
Edison issues review on Jupiter US Smaller Companies (JUS)
Jupiter US Smaller Companies (JUS) has announced a number of new
initiatives and enhancements to its investment process, aimed at
boosting shareholder value and the potential for long-term growth
and capital preservation. The manager intends to increase
concentration in favoured holdings and be less keen to take profits
in winning stocks, at the same time as acting more quickly to cut
positions that are not proceeding as hoped. Meanwhile, the board
has put in place the trust's first gearing facility, scrapped the
performance fee and introduced a new, tiered management fee,
alongside a commitment to growing the trust to a target GBP200m
over the next two to three years. While JUS's value investment
style has been out of favour in the US for the past decade, Fund
Manager Robert Siddles says that with the bull market in growth
stocks becoming more and more extended, the case for value is
stronger than ever.
At 31 October 2017, JUS's shares traded at an 8.7% discount to
cum-income NAV. This is narrower than one- and three-year averages
(9.1% and 10.2%, respectively) but wider than the averages over
five and 10 years (6.0% and 6.5%). The board actively buys back
shares to keep the discount below the target 10% maximum.
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