18 Jun 2019 16:26
London, UK, 18 June 2019
Edison issues review on Jupiter US Smaller Companies (JUS)
Jupiter US Smaller Companies (JUS) is continuing to deliver improved investment performance following a tightening up of its investment process in October 2017. The trust has outperformed its small-cap equity benchmark over the last one and three years in both NAV and share price terms. Increased stock market volatility in recent months has presented manager Robert Siddles with an increasing array of attractive investment opportunities across a range of industries; although this has increased portfolio turnover, the manager continues to invest with a long-term view, aiming to generate capital growth while preserving capital during periods of stock market weakness.
JUS is currently trading at a 9.1% discount to NAV, which compares with its average discounts of 7.8%, 9.0%, 9.1% and 6.2% over the last one, three, five and 10 years respectively. There is scope for the discount to narrow given the notable benefits of the enhancements to the strategy, which are driving improved investment performance. The trust may gear up to 20% of total assets (net gearing of 4.8% at the end of May 2019). It does not pay a dividend.
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