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Jupiter launches the Jupiter US Small & Midcap Companies Fund


Jupiter has launched the Jupiter US Small & Midcap Companies Fund, a UCITS-compliant unit trust managed by fund manager Robert Siddles.

The new fund is aimed at investors interested in taking advantage of investment opportunities in the US, home to some of the most promising small- and mid-cap firms in the world.
Siddles has 27 years’ experience covering US equities as a fund manager.  He joined Jupiter in January 2014 from F&C, where he managed over GBP500m in assets including the F&C US Smaller Companies Investment Trust, now the Jupiter US Smaller Companies Investment Trust.
The objective of the fund is to achieve long-term capital growth by investing in a diversified portfolio made up primarily of quoted US small and medium-sized companies. To achieve this, Siddles will draw on a universe of around 3,000 US small companies with a market capitalisation ranging from GBP100m to GBP5bn. The fund will typically hold between 50 and 75 stocks.
Siddles, says: “The US small and midcap sector has had a strong run of late but these gains reflect the potential growth prospects and good long-term outlook for the American economy. Small cap share valuations remain well below their 2000 peak and there are still many companies which, in my view, have the ability to perform.”
Siddles has a long-term and value-oriented focus which he believes works well in the US stock market. This approach, he believes, enables him to avoid the pressure towards short-termism and allows him to exploit opportunities thrown up in the wake of panics, sell-offs and emotional market reactions.
He favours two kinds of value-oriented stocks:  
• The fund’s core holding will typically consist of companies which, in his view, are able to reliably grow their earnings over long periods.
• The second category will generally be made up of trading stocks which are held for short-term recovery, typically over two to three years. These are stocks where the share price has fallen significantly, making them attractively valued to Siddles.
John Chatfeild-Roberts, chief investment officer at Jupiter, says: “The US Small and Midcap Companies Fund is a welcome addition to our fund range. Robert’s strong track record as a successful stockpicker speaks for itself. He will be working alongside established Jupiter manager Sebastian Radcliffe, who focuses very much on large-cap US stocks. Robert’s small-cap expertise adds breadth to our overall investment proposition.”

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