Jupiter plans offshore Japan launch

Jupiter has confirmed it plans to launch an offshore Japan fund later in the year, subject to regulatory approval.

It will be run by Simon Somerville, who runs the onshore Japan Income fund, but will not be income-oriented. It will sit under the Jupiter Global Fund Sicav umbrella.

The fund will predominantly invest in Japan but has the flexibility to spread 20% of the investments across Asia.

Somerville has run the Japan Income fund since September 2005. Over the past three years the fund has returned a loss of 22.1%, compared to the Japan sector average fall of 33.7%, according to Financial Express.