Jupiter Launches New Europe Fund

Europe

2 October 2007

Jupiter Asset Management is launching a new fund which will invest in emerging markets in Europe. The Jupiter New Europe Fund will be aimed at professional investors. It will have a different profile to the existing Jupiter Emerging Europe Select Fund. The new fund will focus on achieving long term capital growth by investing primarily in Central and Eastern Europe, Russia, Turkey and non-European former member states of the USSR. It will also have the flexibility to invest up to a third of its assets in Western European companies which the managers believe significantly benefit from exposure to emerging European markets. Manager Elena Shaftan says Eastern Europe and Russia has experienced rapid economy growth in the past few years. “Many companies from the region have profited from expanding domestic consumption and infrastructure spending, while EU convergence has brought particular benefits to eastern European businesses,” she says. "A growing number of companies listed in Western Europe have significant eastern European operations that contribute to their revenue growth and lower costs." Director Kevin Scott says demand for high alpha funds in the region is growing internationally. “Last year, we reached the £100 million target capacity on the Jupiter Emerging Europe Select fund within just three weeks. We expect interest in this fund to be very high, particularly now we have registered the Jupiter Global fund SICAV in seven of our target jurisdictions."