London, UK, 13 October 2017
Edison issues review on Jupiter UK Growth Investment Trust (JUKG)
Jupiter UK Growth Investment Trust (JUKG) aims to deliver long-term capital growth from investing predominantly in UK equities. Its approach is bottom-up, long-term and contrarian, with relatively few constraints against the benchmark. The result is a concentrated portfolio of c 35 high-conviction stocks that is significantly different from the index. JUKG is notably overweight UK domestically-focused companies and holds no stocks in the oil & gas and utilities sectors. JUKG's manager believes there are many mispriced opportunities in the current uncertain macro environment, which is well-suited to his contrarian style.
JUKG trades at a narrow 2.9% discount to cum-income NAV and consistently trades close to its NAV due to a nil-discount management policy, which has been in effect since 2014. The trust has an above peer group average dividend yield, currently 2.1%.
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