UK Money News
7th May 2008
Jupiter announces new 'go anywhere' fund
Jupiter has been granted regulatory approval to launch a new "go anywhere" fund to invest in the European credit markets.
The fund management firm's Strategic Bond Fund has set a target yield of seven per cent for investors, whom it says are likely to be those with "medium to long-term outlook".
Management of the fund will be overseen by Ariel Bezalel who also runs the fixed interest components of three unit trusts - Jupiter Global Managed, Jupiter High Income and Jupiter Monthly Income.
Mr Bezalel said: "The investment grade market is pricing in a severe recession and the high yield market is pricing in a sharp rise in defaults.
"Whilst I am cautious on the economic outlook, current valuations seem to offer potentially handsome rewards for the risk. This situation, in my view, presents the most compelling investment opportunity in credit we have seen for many years."
The fund will be open to investors as of June 2nd
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