Fitch Affirms and Withdraws Four Jupiter Fund Quality Ratings

LONDON & PARIS--()--Fitch Ratings has affirmed and withdrawn the Fund Quality Ratings on the following four funds managed by Jupiter Asset Management Limited, a subsidiary of Jupiter Fund Management PLC.

Jupiter European Opportunities SICAV: affirmed at 'Strong' and withdrawn

Jupiter Global Convertibles SICAV: affirmed at 'Strong' and withdrawn

Jupiter India Select SICAV: affirmed at 'Strong'; removed from 'Under Review' and withdrawn

Jupiter Japan Select: affirmed at 'Satisfactory' and withdrawn

KEY RATING DRIVERS

Fitch has chosen to withdraw the ratings for commercial reasons, as Jupiter has chosen to stop participating in the rating process. Fitch will no longer provide ratings or analytical coverage of these funds.

The affirmation is driven by the stability of the funds' investment processes and resources as well as by the stability of Jupiter as fund manager. The funds' performance profile is consistent with Fitch's expectations.

Fitch has removed the India fund from 'Under Review' and affirmed it at 'Strong' due to its improved performance in 2014 relative to 2013. The fund has outperformed the MSCI India Index in the first eight months of 2014 and has returned to a positive rolling one-year alpha. Its five-year Lipper Leader score for consistent return was three as of end-August 2014. Fitch had placed the India fund 'Under Review' in March 2014 while it determined the fund's ability to return to sustainable, long-term out-performance, following underperformance in 2013.

Additional information is available on www.fitchratings.com.

Applicable criteria, Fund Quality Ratings Criteria: Assessing Funds' Investment Processes and Operational Attributes, 19 September 2011, are available on www.fitchratings.com.

Applicable Criteria and Related Research:

Fund Quality Ratings Criteria: Assessing Funds' Investment Processes and Operational Attributes

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=552845

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=869154

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Contacts

Fitch Ratings
Primary Analyst
Alastair Sewell, CFA, +44 20 3530 1147
Senior Director
Fitch Ratings Limited
30 North Colonnade
London E14 5GN
or
Secondary Analyst
Manuel Arrive, CFA, +33 1 44 29 91 77
Senior Director
or
Committee Chairperson
Ian Rasmussen, +1 212-908-0232
Senior Director
or
Media Relations:
Elaine Bailey, +44 203 530 1153, London
elaine.bailey@fitchratings.com

Contacts

Fitch Ratings
Primary Analyst
Alastair Sewell, CFA, +44 20 3530 1147
Senior Director
Fitch Ratings Limited
30 North Colonnade
London E14 5GN
or
Secondary Analyst
Manuel Arrive, CFA, +33 1 44 29 91 77
Senior Director
or
Committee Chairperson
Ian Rasmussen, +1 212-908-0232
Senior Director
or
Media Relations:
Elaine Bailey, +44 203 530 1153, London
elaine.bailey@fitchratings.com