The Jupiter Global Fund - Jupiter Asset Management

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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. 110
the jupiter global fund Notes to the Financial Statements ■■Notes to the Financial Statementsfor the year ended 30 September 2012 (continued) 15. Dilution Levy continued If the net capital activity on a given Valuation Day leads to a net inflow of assets in the relevant Fund, the Net Asset Value used to process all subscriptions, redemptions or switches in such a Fund is adjusted upwards by a swing factor that shall be determined from time to time by the Board of Directors. If the net capital activity on a given Valuation Day leads to a net outflow of assets in the relevant Fund, the Net Asset Value used to process all subscriptions, redemptions or switches in such a Fund is adjusted downwards by a swing factor that shall be determined from time to time by the Board of Directors. None of the Funds applied swing pricing on the year end valuation date. 16. Cash and Short Term Deposits As at 30 September 2012, the following Funds have restricted cash as follows: Jupiter Asia Pacific KRW 13,558.00 US$ 70.02 TWD 10,280,008.00 INR 4,618,613.34 PHP 5,064,398.34 Jupiter Global Financials INR 1.16 Jupiter India Select INR 48,347,022.83 US$ 113,136.77 Jupiter Strategic Total Return QAR 0.01 17. Statement of Changes in the Portfolio A listing of the statement of changes in the portfolio during the year is available upon request to any investor at the registered office of the Fund free of charge. 18. Dividend Distributions During the year ended 30 September 2012, the Company declared the following dividends: Fund Share Class Ex-date Pay date Rate per Share in Fund Currency Jupiter European Opportunities Class L 28 September 2012 31 December 2012 GBP 0.0789 Jupiter European Growth Class L 28 September 2012 31 December 2012 GBP 0.1352 Jupiter Global Financials Class L 20 March 2012 29 March 2012 GBP 0.4998 Jupiter Japan Select Class L 20 March 2012 29 March 2012 GBP 0.0735 Class L 28 September 2012 31 December 2012 GBP 0.0760 Jupiter Global Equities Class L 28 September 2012 31 December 2012 GBP 0.0931 Jupiter China Sustainable Growth Class L 28 September 2012 31 December 2012 GBP 0.0399 Jupiter Global Convertibles Class I 28 September 2012 31 December 2012 GBP 0.1905 Class L 28 September 2012 31 December 2012 GBP 0.1156 Jupiter Dynamic Bond Class I 28 September 2012 31 December 2012 USD 0.1352 Class I 28 September 2012 31 December 2012 EUR 0.1436 Class I 28 September 2012 31 December 2012 GBP 0.1365 Class I 28 September 2012 31 December 2012 CHF 0.1362 Class L 28 September 2012 31 December 2012 USD 0.1108 Class L 28 September 2012 31 December 2012 EUR 0.1170 Class L 28 September 2012 31 December 2012 GBP 0.1067 Class L 28 September 2012 31 December 2012 CHF 0.1068 111
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The Jupiter Global Fund - Jupiter Asset Management

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