The Jupiter Global Fund - Jupiter Asset Management

the jupiter global fund
Notes to the Financial Statements
■■Notes to the Financial Statementsfor the year ended 30 September 2012 (continued)
11. Taxe d’abonnement
The Company is liable in Luxembourg to a tax (taxe d’abonnement), such tax being payable quarterly and calculated on the Net Asset Value
of the Company at the end of the relevant calendar quarter. The taxe d’abonnement is levied at a rate of 0.01% per annum on funds or
Classes reserved to Institutional Investors (Class I) and at 0.05% per annum on other Funds or Classes (Class L). No such tax is payable in
respect of the portion of the assets of each Fund invested in other Luxembourg collective investment undertakings which are subject to this
tax. Under current law and practice, the Company is not liable to Luxembourg taxes on income or capital gains, nor are dividends paid by
the Company liable to any Luxembourg withholding tax.
12. Expense Reimbursements
The Investment Manager has agreed to bear the expenses of each Class above a certain limit (based on total expenses excluding
performance fees and specific security charges expressed as a percentage of average Net Assets) as follows:
• Jupiter Asia Pacific 2.00%
• Jupiter Climate Change Solutions 2.00%
• Jupiter European Opportunities
Class ‘L’ 2.00%
Class ‘I’ 1.25%
• Jupiter European Growth
Class ‘L’ 2.00%
Class ‘I’ 1.25%
• Jupiter Global Financials 2.00%
• Jupiter New Europe 2.00%
• Jupiter India Select 2.20%
• Jupiter Japan Select 2.00%
• Jupiter Global Equities 2.00%
• Jupiter North American Equities 2.00%
• Jupiter China Sustainable Growth 2.00%
• Jupiter Europa
Class ‘L’ ‘A’ 2.25%
Class ‘L’ ‘B’ 2.00%
(from 2 November 2011 and
1.75% until 1 November 2011)
• Jupiter Strategic Total Return
Class ‘L’ 1.75%
Class ‘I’ 1.15%
(from 8 May 2012 and
1.25% until 7 May 2012)
• Jupiter Global Convertibles
Class ‘L’ 2.20%
Class ‘I’ 1.40%
• Jupiter Dynamic Bond
Class ‘L’ 1.75%
Class ‘I’ 1.00%
Expenses in excess of the above limits are recorded as ‘Expense reimbursements’ in the Statement of Operations. The expense
reimbursements accrued by the Funds during the year ended 30 September 2012 amounted to €121,864. The reimbursement is paid to the
Funds by the Investment Manager annually in arrears.
13. Transactions with Connected Parties
All transactions with connected parties were carried out on an arm’s length basis. The Investment Manager and its affiliates, the Directors,
Management Company and other related agents of the Company are considered connected parties.
14. Soft Dollar Arrangements
The Investment Manager may from time to time receive goods and services which are paid for out of broker commissions provided that they
relate to execution and research services which meet the criteria laid down by United Kingdom’s Financial Services Authority Rules and the
SFC Code on Unit Trusts and Mutual Funds.
There were no soft dollar benefits received by the Company or the Investment Manager during the year ended 30 September 2012.
15. Dilution Levy
Until 21 May 2012, in circumstances where the value of the assets of a Fund may be reduced as a result of costs incurred in dealing in a Fund’s
investments, including taxes, stamp duties and transaction charges or as a result of dealings in such investments at prices other than the prices
used to calculate the Net Asset Value of the Fund, the Board of Directors could, in their discretion but subject to applicable law, impose on a
Shareholder or applicant for Shares a dilution levy in respect of any subscription or redemption of Shares where they reasonably considered
such levy would avoid or mitigate any potential adverse effects on Shareholders and would be fair to all Shareholders and potential Shareholders.
The maximum dilution levy which could be applied to a dealing request was 2% of the Net Asset Value of the relevant Class.
From 21 May 2012 the Funds adopted a partial swing pricing process. Under certain circumstances (for example, large volumes of deals)
investment and/or disinvestment costs may have an adverse effect on the Shareholders’ interests in a Fund. In order to prevent this effect,
the Board of Directors have the authority to allow for the Net Asset Value per Share to be adjusted by effective dealing and other costs and
fiscal charges which would be payable on the effective acquisition or disposal of assets in the relevant Fund if the net capital activity exceeds,
as a consequence of the sum of all subscriptions, redemptions or switches in such a Fund, such threshold percentage (the ‘Threshold’) as
may be determined from time to time by the Board of Directors, of the Fund’s total Net Assets on a given Valuation Day.
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