Jupiter US Smaller Companies PLC Edison initiation on Jupiter US Smaller Companies
03 Juin 2016 - 12:37PM
RNS Non-Regulatory
TIDMJUS
Jupiter US Smaller Companies PLC
03 June 2016
London, UK, 3 June 2016
Edison issues initiation on Jupiter US Smaller Companies
Jupiter US Smaller Companies (JUS) is a specialist small- and
mid-cap fund focused on the US market. It has been managed since
2001 by Robert Siddles (as F&C US Smaller Companies until both
manager and trust transferred to Jupiter Asset Management in early
2014). The manager has a strong valuation focus and seeks to invest
in companies that have a good franchise, significant inside
ownership, high free cash flow, pricing power and at least 50%
share price upside. While US market performance has been led by
large-cap and growth stocks in recent years, JUS has a solid
long-term track record (annualised returns of c 7-8% over 10 years
in both share price and NAV terms) and proven defensive
characteristics in volatile markets.
At 2 June, JUS's shares were trading at a 10.9% discount to
cum-income net asset value. While wider than long-term averages,
this is a little narrower than the 11.6% average over 12 months,
reflecting a period in which value stocks have been less favoured
by investors. Share buybacks since the end of 2015 have helped to
keep the discount broadly below the target maximum of 10%, and
there is scope for it to narrow further (the five-year average is
3.8%) should early signs of style rotation continue.
Click here to view the full report
All reports published by Edison are available to download free
of charge from its website: www.edisoninvestmentresearch.com
About Edison: Edison is an international equity research firm
with a team of over 110 analysts, investment and roadshow
professionals and works with both large and smaller capitalised
companies, blue chip institutional investors, wealth managers,
private equity and corporate finance houses to support their
capital markets activity. Edison provides services to more than 420
retained corporate and investor clients from offices in London, New
York, Frankfurt, Sydney and Wellington. Edison is authorised and
regulated by the Financial Conduct Authority.
Edison is not an adviser or broker-dealer and does not provide
investment advice. Edison's reports are not solicitations to buy or
sell any securities.
Contact details: Learn more at www.edisongroup.com and connect
with Edison on:
LinkedIn www.linkedin.com/company/edison-investment-research
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This information is provided by RNS
The company news service from the London Stock Exchange
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June 03, 2016 06:37 ET (10:37 GMT)
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