Jupiter Income

talexuser

Quite amused to get  HL update today in the mail extolling the merits of Jupiter Income, which remains on their Wealth Shortlist. This has been a dog for years and has been and is now on the Sanlam Black list, underperforming even a mediocre index like the All Share. I used to have it in the glory years of William Littlewood when it was the Fundsmith of its day, jumped soon after he left. Artemis Strategic Assets has not done well, which rather undermines the star manager theory (if Woodford has not done that more spectacularly already) unless you look at it as a wealth preservation fund perhaps.

bigadaj

Tough world for income funds currently.

talexuser

This is true, but just compare Jupiter with Evenlode, my single remaining UK Income fund. Over 5 years Evenlode 60% ahead, over 10 years 150% ahead. 

AnotherJoe

HL really are awful when it comes to investment selection. They must be getting kickbacks because surely their constant recommendations of dogs does their reputation no good at all. 

You'd think they'd have learned their lesson after Woodford. 

But then again you'd think Audi would have learned their lesson about cheating emissions tests, being caught, execs in jail, billion dollar fines, but according to a lot of stories this morning, apparently not, they are at it again. 

So maybe a leopard just can't change its spots. 

tomla

The Sanlam blacklist ranks funds on past performance - what makes past performance a better predictor of poor performance than good performance as a predictor of the future?! Interesting idea.but seems just as unreliable.
Jupiter Income is a value fund. It is currently very cheap and if you hold at this point it would be doing its job of diversifying and providing some upside potential. HL email is quite clear on risks and reasons for inclusion. Wealth list is a guide to a very mixed bunch of funds.

talexuser

tomla said:

 It is currently very cheap 

That may indeed be a good point to buy in now but doesn't change the fact that HL recommended it all the time it fell behind when other platforms and brokers gave far more successful advice a long time ago to dump and go for something far better.

On the broader point of value funds, they seem to be left behind in the era of QE with constant stories of just being on the point of turning the corner and coming roaring back, much as the hopeful stories that savings rates will be back to normal soon. Maybe after the next real crash?

talexuser

Another update from HL on their wealth recommendation of Jupiter Global Value Equity. In the two and a half years of their recommendation it has lost 10% of your money while a FTSE all world tracker would have given 23% increase.

quirkydeptless

talexuser said:

Another update from HL on their wealth recommendation of Jupiter Global Value Equity. In the two and a half years of their recommendation it has lost 10% of your money while a FTSE all world tracker would have given 23% increase.

"Whitmore’s shown his skill at ‘value investing’ over the long term"

What could possibly go wrong?

talexuser

Best Invest Dog Funds are out.
Jupiter Income well placed in the list there, as expected, losing 12% over 3 years. Not as bad as ex- Barnett Invesco funds which lost 26%. Jupiter UK Growth, UK Alpha and Growth and Income there as well as Hargreaves Multi Manager Income and Growth - HL pulled down by Woodford?
St James Place retains its by now usual place in the high number of rubbish funds.
Speaking of Woodford, the worst performer was his ex Income Focus (now under Aberdeen) down 45% compared to its index -4.6%. Did anyone make anything jumping in and out of the falling knife on that one? Or too soon to say?

garmeg

I jumped out of Woodford before I lost too much, about 2 months pre suspension. Was a bigger dog than Schnorbitz.