Global Fund Prospectus - Jupiter Asset Management

the jupiter global fundAddendum■ ■(II) Information on the expected level of leverage1. “The Jupiter Global Fund – Jupiter Global Financials”In the information sheet titled “The Jupiter Global Fund – Jupiter Global Financials” the second sentence of the sub-section “Global Exposure”shall be deleted and replaced with the following:“The expected level of leverage for the Fund, calculated on the basis of the sum of the notionals, is 200%, whereas higher levels of leverageare possible.”2. “The Jupiter Global Fund – Jupiter Europa”In the information sheet titled “The Jupiter Global Fund – Jupiter Europa” the second sentence of the sub-section “Global Exposure” shall bedeleted and replaced with the following:“The expected level of leverage for the Fund, calculated on the basis of the sum of the notionals, is 200%, whereas higher levels of leverageare possible.”3. “The Jupiter Global Fund – Jupiter Strategic Total Return”In the information sheet titled “The Jupiter Global Fund – Jupiter Strategic Total Return” the second sentence of the sub-section “Global Exposure”shall be deleted and replaced with the following:“The expected level of leverage for the Fund, calculated on the basis of the sum of the notionals, is 200%, whereas higher levels of leverageare possible.”1419-03.13

the jupiter global fundAddendumThe Jupiter Global Fund(the “Company”)Société d’Investissement à Capital VariableRegistered Office: 16, Boulevard d’Avranches, L-2014 LuxembourgAddendum dated February 2013To the Prospectus dated May 2012This document is an addendum (the “Addendum”) to the prospectus of the Company dated May 2012 (the “Prospectus”) and may not bedistributed without such Prospectus (which also includes an addendum dated November 2012). The Addendum contains information on thecreation of six new Classes of Shares in the sub-fund “The Jupiter Global Fund – Jupiter Dynamic Bond” (the “Fund”). Potential investors shallrefer to the Prospectus in respect of any item or information not included in this Addendum.■ ■(I) Information on the new Classes of Shares in the FundThe Board of Directors has resolved to create six new Classes of Shares in the Fund with the following features:Class Name and ClassCurrencySecurities IdentificationNumber (ISIN)Class DEuroAccumulationClass DUS DollarAccumulationClass DSterlingAccumulationClass DEuroIncomeClass DUS DollarIncomeClass DSterlingIncomeLU0895805017 LU0895805793 LU0895806098 LU0895806171 LU0895806338 LU0895806684CitiCode IB9P IB9Q IB9R IB9S IB9T IB9USwiss Valor 20807335 20807336 20807337 20807339 20807340 20807363Clearstream Common Code 089580501 089580579 089580609 089580617 089580633 089580668SEDOL B71BTN6 B3NFMN9 B8YQRT7 B90NC05 B7F1PQ7 B98VV15MEXID JUYMOB JUAYBL JUOGLA JUNDYB JUBNDM JUAMLYInitial Charge (up to) 5% 5% 5% 5% 5% 5%Management Fee (up to) 0.50% 0.50% 0.50% 0.50% 0.50% 0.50%Minimum Initial Investment €10,000,000 US$10,000,000 £10,000,000 €10,000,000 US$10,000,000 £10,000,000Minimum IncrementalInvestment€250,000 US$250,000 £250,000 €250,000 US$250,000 £250,000Minimum Holding €10,000,000 US$10,000,000 £10,000,000 €10,000,000 US$10,000,000 £10,000,000Performance Fee None None None None None NoneInitial SubscriptionPrice at launch(before Initial Charge)€10 US$10 £10 €10 US$10 £10Distribution Policy Accumulation of Income Accumulation of Income Accumulation of IncomeQuarterly dividend withautomatic reinvestmentby defaultQuarterly dividend withautomatic reinvestmentby defaultQuarterly dividend withautomatic reinvestmentby defaultUK Reporting Fund No No Yes No No YesBenchmarkBarclays CapitalPan-European Aggregate:Corporate Index(Total Return) (Euro)Barclays CapitalPan-European Aggregate:Corporate Index(Total Return) (Euro)Barclays CapitalPan-European Aggregate:Corporate Index(Total Return) (Euro)Barclays CapitalPan-European Aggregate:Corporate Index(Total Return) (Euro)Barclays CapitalPan-European Aggregate:Corporate Index(Total Return) (Euro)Barclays CapitalPan-European Aggregate:Corporate Index(Total Return) (Euro)Benchmark Ticker Code .BCPEACOR .BCPEACOR .BCPEACOR .BCPEACOR .BCPEACOR .BCPEACORPassive Currency Hedging No Yes Yes No Yes Yes1419-03.14

the jupiter global fundAddendum

THE JUPITER GLOBAL FUNDInformation■■The Jupiter Global Fund (Société d’Investissement à Capital Variable)The Directors have taken all reasonable care to ensure that the factsstated herein are true and accurate in all material respects and thatthere are no other material facts the omission of which would makemisleading any statement herein, whether of fact or opinion. TheDirectors accept responsibility accordingly.The Company is a UCITS for the purposes of the UCITS Directiveand the Directors propose to market the Shares in accordance withthe UCITS Directive in certain Member States of the European Unionand elsewhere. The Company is registered pursuant to Part I of theLaw. The registration does not imply approval by any Luxembourgauthority of the contents of this Prospectus or the portfolio ofsecurities held by the Company. Any representation to the contraryis unauthorised and unlawful.Investors should not treat the contents of this Prospectus as advicerelating to legal, taxation, investment or other matters. If you are inany doubt about the contents of this Prospectus, the risks involved ininvesting in the Company or the suitability for you of investment inthe Company, you should consult your stockbroker, accountant,solicitor, independent financial adviser or other professional adviser.Purchases of Shares are deemed to be made on the basis of theinformation contained in this Prospectus including the InformationSheets and any supplements thereto and (when appropriate), in thelatest semi-annual or annual reports, all of which are available fromthe registered office of the Company and from the Company’sagents. Prospective purchasers of Shares should inform themselvesas to the legal requirements, exchange control regulations andapplicable taxes in the countries of their respective citizenship,residence or domicile. No person is authorised to give any informationor to make any representations concerning the Company other thanas contained in this Prospectus and in the documents referred toherein, and any purchase made by any person on the basis ofstatements or representations not contained in or inconsistent withthe information and representations contained in this Prospectusshall be solely at the risk of the investor.The Company draws prospective Shareholders’ attention to the factthat any investor will only be able to fully exercise his investor rightsdirectly against the Company (notably the right to participate in generalShareholder meetings), if the investor is registered himself and in hisown name in the Shareholders’ register of the Company. In caseswhere an investor invests in the Company through an intermediaryinvesting into the Company in its own name but on behalf of theinvestor, it may not be possible for the investor to exercise certainShareholder rights directly against the Company. Investors areadvised to take independent legal advice on their rights.This Prospectus may be translated into other languages. Any suchtranslation shall only contain the same information and have thesame meaning as the English language Prospectus. To the extentthat there is any inconsistency between the English languageProspectus and the Prospectus in another language, this Englishlanguage Prospectus will prevail, except to the extent (but only to theextent) that the law of any jurisdiction where the Shares are soldrequires that in an action based upon a statement in the Prospectusin a language other than English, the version of the Prospectus onwhich such action is based shall prevail.This Prospectus does not constitute an offer to sell or a solicitation ofan offer to purchase Shares in any jurisdiction to any person towhom it is unlawful or in which the person making such offer orsolicitation is not qualified to do so. The distribution of this Prospectusand the offering of the Shares in certain jurisdictions may berestricted. Persons interested in acquiring Shares should informthemselves as to (i) the legal requirements within the countries oftheir nationality, residence, ordinary residence or domicile for suchacquisition (ii) any foreign exchange restrictions or exchange controlrequirements which they might encounter on the acquisition or saleof Shares and (iii) the income tax and other taxation consequenceswhich might be relevant to the acquisition, holding or disposal ofShares. Prospective investors’ attention is also drawn to ‘RiskFactors’ on pages 22 to 27 and in the Information Sheets as theyrelate to specific Funds.The Shares are not available for investment by any U.S. Person.The Shares have not been registered under the Securities Act of1933 of the United States of America and it is prohibited for anyperson to offer any Shares for sale, or to sell any Shares to any otherperson for offering or resale, directly or indirectly, in the UnitedStates of America or to any U.S. Person. For the purpose of thisparagraph, ‘the United States of America’ includes its possessions,its territories and all areas subject to its jurisdiction and a ‘U.S.Person’ is a national, citizen or resident of the United States ofAmerica or a corporation or partnership organised under the laws ofthe United States of America.The price of Shares and the income from them may go down aswell as up – accordingly, prospective investors’ attention isdrawn to the section headed ‘Risk Factors’ of this Prospectus.May 20123

THE JUPITER GLOBAL FUNDContentsContentsManagement and Administration 5Definitions 6Key Features 9Dividend Policy 10How to Subscribe, Convert and Redeem 11Investment Restrictions 16Risk Factors 22Taxation 28General Information 30Supplementary Information for Investors in the UK 37Jupiter Climate Change Solutions 40Jupiter Asia Pacific 42Jupiter European Opportunities 44Jupiter European Growth 46Jupiter Global Financials 48Jupiter New Europe 50Jupiter China Sustainable Growth 53Jupiter India Select 58Jupiter Global Property Securities 62Jupiter Japan Select 65Jupiter North American Equities 67Jupiter UK Equities 69Jupiter Global Equities 71Jupiter Europa 73Jupiter Dynamic Bond 76Jupiter Global Emerging Markets Select 79Jupiter Strategic Total Return 82Jupiter Global Convertibles 864

THE JUPITER GLOBAL FUNDManagement and Administration■■Management and AdministrationBoard of DirectorsManagement CompanyInvestment ManagerCustodian, Paying Agentand AdministratorDistributorsAuditorsLegal AdvisersRegistered OfficeUK RepresentativeGarth Lorimer Turner (Chairman)Managing Director,Jupiter Asset Management (Bermuda) Limited, BermudaAdrian CreedyChief Operating Officer and Company Secretary,Jupiter Fund Management PLC, LondonJacques ElvingerAvocat, Elvinger Hoss & Prussen, LuxembourgPatrick ZurstrassenDirector, The Director’s Office, LuxembourgRBS (Luxembourg) S.A.33, rue de GasperichL-5826 HesperangeLuxembourgJupiter Asset Management Limited1 Grosvenor PlaceLondon SW1X 7JJUnited KingdomHSBC Securities Services (Luxembourg) S.A.16, Boulevard d’Avranches B.P. 413L-2014 LuxembourgJupiter Asset Management Limited1 Grosvenor PlaceLondon SW1X 7JJUnited KingdomJupiter Asset Management (Bermuda) LimitedCumberland House3rd Floor, 1 Victoria StreetHamilton HM11BermudaJupiter Asset Managers (Jersey) LimitedGround Floor, 4 Wharf StreetSt. Helier, Jersey JE2 3NRChannel IslandsJupiter Asset Management (Asia) Private LimitedLevel 31, Six Battery RoadRaffles PlaceSingapore 049909Ernst & Young S.A.7, rue Gabriel LippmannL-5365 MunsbachLuxembourgElvinger Hoss & Prussen2, Place Winston ChurchillL-1340 LuxembourgThe Jupiter Global Fund16, Boulevard d’AvranchesB.P. 413, L-2014 LuxembourgJupiter Asset Management Limited1 Grosvenor PlaceLondon SW1X 7JJEngland5

THE JUPITER GLOBAL FUNDDefinitions■■Definitions£, GBP or Sterling All references to £, GBP or Sterling are to the legal currency of the UK.€, EUR or Euro All references to €, EUR or Euro are to the legal currency of the countries participating inthe European Monetary Union in accordance with the Treaty on European Union (signed inMaastricht on 7th February, 1992).AccountsAdministratorApplication FormArticlesBase CurrencyBenchmarkBusiness DayCentral DepositoryCHF or Swiss FrancClassClass CurrencyClass I SharesClass L SharesCompanyCSSFAny profit and loss account, balance sheet or report of the Directors published toShareholders in respect of the Company and/or one or more Funds.HSBC Securities Services (Luxembourg) S.A.The application form provided by or on behalf of the Company to be completed bysubscribers for Shares.The articles of incorporation of the Company as amended from time to time.The currency of denomination of a Fund as set out in the relevant Information Sheet.The benchmark used for the purposes of comparing the performance of, and/or calculating thePerformance Fee payable (if any) for, a Fund, as specified in the relevant Information Sheet.A day on which banks in Luxembourg are open for business.Clearstream, Euroclear and other correspondents, through which Shares may bemade available.All references to CHF or Swiss Francs are to the legal currency of Switzerland.Each Class of Shares within a Fund corresponding either to a specific fee structure or someother differentiating factor as may be determined by the Directors.The currency of denomination of a Class as set out in the relevant Information Sheet.A Class of Shares reserved for Institutional Investors.A Class of Shares available for subscription by retail investors.The Jupiter Global Fund which term shall include any Funds from time to time thereof.Commission de Surveillance du Secteur Financier, the regulatory and supervisory authorityin Luxembourg.CSSF Circular 11/512 The CSSF circular 11/512 on risk management rules of 30 May 2011.CustodianCustodian AgreementDealing DeadlineDirectors/Board of DirectorsDistributing FundDistributorsFundHMRCInformation SheetsHSBC Securities Services (Luxembourg) S.A.The agreement between the Company and the Custodian under which the Company hasappointed the Custodian to act as custodian to the Company in accordance with the Law.The cut off time for dealing in the Shares as specified in the Information Sheet for each Fund.The board of directors of the Company.A Class which has obtained certification as a ‘distributing fund’ from HMRC in the UK underChapter V of Part XVII of the Income and Corporation Taxes Act 1988 of the UK (‘ICTA88’).Those companies having been appointed by the Management Company as distributors,such term to include sub-distributors appointed by Distributors pursuant to authority grantedby the Management Company.A compartment of the Company within the meaning of article 181 of the Law, to whichcorresponds a distinct part of the assets and liabilities of the Company and described in therelevant Information Sheet.Her Majesty’s Revenue & Customs in the UK.The information sheets attached to (and forming part of) this Prospectus relating to each Fund.6

THE JUPITER GLOBAL FUNDDefinitions■■DefinitionsInitial ChargeInstitutional InvestorsInvestment Management AgreementInvestment ManagerInvestment RestrictionsJupiter GroupKIIDLawManagement CompanyManagement Company Services AgreementMinimum HoldingMinimum Incremental InvestmentMinimum Initial InvestmentNAV or Net Asset ValuePersonal Account NumberProspectusRedemption PriceRegulated MarketReporting FundSFCShareholder(s)SharesSICAVSimplified Prospectus(es)The initial charge payable on any given Class of Shares, as described in the InformationSheet for each Fund.Investors that qualify as institutional investors within the meaning of article 174 of the Law.The agreement between the Investment Manager, the Management Company and theCompany, under which the Management Company has delegated its investmentmanagement functions to the Investment Manager.Jupiter Asset Management Limited.The investment restrictions set out in the section entitled ‘Investment Restrictions’ ofthis Prospectus.Jupiter Fund Management plc, a company incorporated in the UK together with itssubsidiaries (which includes the Investment Manager).Key Investor Information Document which must be provided to prospective investors ingood time prior to subscription in accordance with article 161 of the Law.The law of 17 December 2010 concerning undertakings for collective investment, as may beamended in the future.RBS (Luxembourg) S.A.The agreement between the Company and the Management Company under which theCompany has designated the Management Company to act as management company ofthe Company in accordance with the Law.The minimum holding for any Class as specified in the Information Sheets.The minimum incremental investment amount as specified in the Information Sheets.The minimum initial investment amount as specified in the Information Sheets.The net asset value of each Fund, Class or Share, as determined in accordance withthe Articles.The number allocated to Shareholders for use when subscribing for, converting orredeeming Shares.This document together with the Information Sheets.The NAV per Share of the relevant Class (less, where applicable, the Redemption Charge,as described under the heading ‘How to Redeem Shares’ in the section entitled ‘How toSubscribe for, Convert and Redeem Shares’ in this Prospectus).The market defined in article 4 paragraph 1 item 14 of the Directive 2004/39/CE of theEuropean Parliament and of the Council of 21st April 2004 on Markets in FinancialInstruments as well as any other market which is regulated, operates regularly and isrecognised and open to the public.A Class for which it is intended that an application for entry into the Reporting Fund regimeas laid out in the Offshore Funds (Tax) Regulations 2009 will be made to HMRC.The Securities and Futures Commission in Hong KongRegistered holder(s) of Shares.Shares of no par value in a Class of a Fund in the Company.Société d’Investissement à Capital Variable.The simplified prospectus of the Funds. Upon introduction of the KIID, all references to theSimplified Prospectus shall be deemed references to the KIID.7

THE JUPITER GLOBAL FUNDDefinitions■■DefinitionsStock ExchangeSubscription PriceTransferable SecuritiesU.S. PersonUCITSUCITS DirectiveUKUnited StatesUS$, USD or US DollarsUnderlying FundValuation DayValuation PointA Stock Exchange is a Regulated Market on which securities issued by public listedcompanies may be bought or sold and which operates in accordance with strict rules,regulations and guidelines.The NAV per Share of the relevant Class (plus, where applicable, an Initial Charge).(i) shares and other securities equivalent to shares; (ii) bonds and other debt instruments;and (iii) any other negotiable securities which carry the right to acquire any suchtransferable securities by subscription or exchanges.The term ‘U.S. Person’ means with respect to individuals, any U.S. citizen (and certainformer U.S. citizens as set out in relevant U.S. Income Tax laws) or ‘resident alien’ withinthe meaning of U.S. income tax laws and in effect from time to time. With respect to personsother than individuals, the term ‘U.S. Person’ means (i) a corporation or partnership or otherentity created or organised in the United States or under the laws of the United States orany state thereof; (ii) a trust where (a) a U.S. court is able to exercise primary jurisdictionover the trust and (b) one or more U.S. fiduciaries have the authority to control allsubstantial decisions of the trust; and (iii) an estate (a) which is subject to U.S. tax on itsworldwide income from all sources; or (b) for which any U.S. Person acting as executor oradministrator has sole investment discretion with respect to the assets of the estate andwhich is not governed by foreign law. The term ‘U.S. Person’ also means any entityorganised principally for passive investment such as a commodity pool, investmentcompany or other similar entity (other than a pension plan for the employees, officers orprincipals of any entity organised and with its principal place of business outside the UnitedStates) which has as a principal purpose the facilitating of investment by a United Statesperson in a commodity pool with respect to which the operator is exempt from certainrequirements of Part 4 of the United States Commodity Futures Trading Commission byvirtue of its participants being non United States persons.Undertakings for Collective Investment in Transferable Securities.Directive 2009/65/EC.The United Kingdom of Great Britain and Northern Ireland.The United States of America (including the States and the District of Columbia), itsterritories, its possessions and any other areas subject to its jurisdiction.All references to US$, USD or US dollars are to the legal currency of the United States.An undertaking for collective investment in transferable securities (UCITS) within themeaning of Article 1(2) of the UCITS Directive or another undertaking for collectiveinvestment within the meaning of the first and second indents of article 1 (2) of the UCITSDirective which qualifies as an eligible investment under sections (1)(a)(iv) or (1)(b) of theInvestment Restrictions.The day on which a NAV is calculated, as stated in the Information Sheet for each Fund.1.00pm (Luxembourg time) on a Valuation Day, or such other time as may be stipulated in therelevant Information Sheet, being the time as of which the NAV is calculated for each Class.8

THE JUPITER GLOBAL FUNDKey Features■■Key FeaturesStructureThe Company is an open-ended investment company incorporatedunder the laws of the Grand Duchy of Luxembourg as a Sociétéd’Investissement à Capital Variable (‘SICAV’) with an umbrellastructure. In accordance with the Articles, the Company may issuemultiple Classes in several Funds. A separate pool of assets andliabilities is maintained for each Fund and is invested in accordancewith the investment objective applicable to the relevant Fund.Unless otherwise indicated in the relevant Information Sheet, theassets of the different Classes within a Fund will be commonlyinvested but a Class specific sales or redemption charge structure, feestructure, Minimum Initial Investment, Minimum IncrementalInvestment, Minimum Holding requirement, dividend policy or hedgingstrategy may be applied. Shares will be issued, redeemed andconverted at prices computed on the basis of the NAV per Share of therelevant Class, as calculated by the Administrator in accordance withthe Articles.The Directors may, at any time, create additional Funds and/orClasses whose investment objectives may differ from those of theexisting Funds and/or Classes.Investment ObjectivesThe Company provides a choice of Funds each investing in aparticular market or group of markets or investing on the basis of aspecific investment theme. The particular investment objective ofeach Fund is set out in the Information Sheet relevant to that Fund.The Directors may, at their discretion, alter investment objectivesprovided that any material change in the investment objective isnotified to Shareholders at least one month prior to effecting suchchange in order that those Shareholders affected by such changemay redeem or convert their Shares, without cost.The FundsAs at the date of this Prospectus the Company comprises thefollowing Funds:• The Jupiter Global Fund – Jupiter Climate Change Solutions• The Jupiter Global Fund – Jupiter Asia Pacific• The Jupiter Global Fund – Jupiter European Opportunities• The Jupiter Global Fund – Jupiter European Growth• The Jupiter Global Fund – Jupiter Global Financials• The Jupiter Global Fund – Jupiter New Europe• The Jupiter Global Fund – Jupiter China Sustainable Growth• The Jupiter Global Fund – Jupiter India Select• The Jupiter Global Fund – Jupiter Global Property Securities• The Jupiter Global Fund – Jupiter Japan Select• The Jupiter Global Fund – Jupiter North American Equities• The Jupiter Global Fund – Jupiter UK Equities• The Jupiter Global Fund – Jupiter Global Equities• The Jupiter Global Fund – Jupiter Europa• The Jupiter Global Fund – Jupiter Dynamic Bond• The Jupiter Global Fund – Jupiter Global Emerging Markets Select• The Jupiter Global Fund – Jupiter Strategic Total Return• The Jupiter Global Fund – Jupiter Global ConvertiblesGeneral Investment ConsiderationsInvestment in the Company carries with it a degree of risk and therecan be no assurance that a Fund’s investment objectives will beattained. Different risks may apply to different Funds. Details of risksspecific to an investment in a particular Fund are disclosed in therelevant Information Sheet and are therefore not disclosed in the mainbody of this Prospectus. The general risk factors applicable to allFunds are disclosed under the heading ‘Risk Factors’. The attention ofpotential investors is drawn to the taxation risks associated withinvesting in the Company under the heading ‘Taxation’.Price InformationThe prices of the Shares are determined as at the Valuation Point oneach Valuation Day. Price information will be published as set out inthe Information Sheet for each Fund and in such other media asmay be required in the jurisdictions in which the Funds aredistributed or otherwise as may be approved by the Directors fromtime to time. Price information is also published on the Jupiter Group’swebsite at www.jupiterinternational.com and is also available onBloomberg’s website.Prices are published for information only and are not an invitation tosubscribe for, redeem or convert Shares at the published price. Noneof the Company, the Management Company, the Investment Manager,the Distributors or the Custodian, Paying Agent and Administratoraccepts responsibility for any manuscript or printing error in publicationor any failure to publish prices by the media.Subscription and RedemptionDetails of the Subscription and Redemption procedures are set out insection headed ‘How to Subscribe for, Convert and Redeem Shares’of this Prospectus and further details are also set out in the InformationSheet for each Fund. Shares may normally be subscribed, redeemedor converted on any Valuation Day at prices based on the NAV perShare of the relevant Class within the relevant Fund calculated at therelevant Valuation Point.ListingThe Company may apply to list some or all of the Classes of theCompany on the Luxembourg Stock Exchange. If a listing is to beapplied for, or has already been obtained, the position will be specifiedin the Information Sheet for the Fund concerned.Investment RestrictionsThe investment and borrowing restrictions applying to the Companyand each Fund are set out in the section headed ‘InvestmentRestrictions’ as supplemented in the attached Information Sheets(where appropriate).No Cross LiabilityThe assets of each Fund will be separate from those of all other Fundsand will be invested separately in accordance with the investmentobjective and policies of such Fund. All liabilities attributable to aparticular Fund shall be binding solely upon that Fund. For the purposeof the relations between Shareholders, each Fund shall be deemed tobe a separate entity.9

THE JUPITER GLOBAL FUNDDividend Policy■■Dividend PolicyCapital AppreciationThe principal investment objective of each Fund is to achieve longterm capital appreciation and the generation of income will not be anoverriding consideration in determining investment policy. Unless adividend policy for a Class is specified in the relevant InformationSheet, all Classes of all Funds have an accumulation policy and,consequently, no dividends will be paid.If a Class is designated in the relevant Information Sheet as making adistribution, it will distribute at least 85% of the net investment income(computed broadly in accordance with the definition of taxable incomeunder UK Corporation Tax principles) which has accrued to the assetsof that Class. The UK definition of investment income may includereturns of a Fund that are treated as capital in the Fund’s Accounts.The Company moved to the UK Reporting Fund regime with effectfrom 1 October 2011. However it is not currently intended to amendthe dividend policy applicable to those Classes that currently paydividends as highlighted in the Information Sheets.Further information for UK taxpayers is set out in the section entitled‘Supplementary Information for Investors in the UK’.Income attributable to Shareholders in Classes which makedistributions will generally be distributed annually and will generally bepaid on 31 December to Shareholders whose names appear on theRegister on 30 September. Such dividends will ordinarily beautomatically reinvested into Shares in the same Class (at no initialcharge) for the account of the Shareholders concerned.In the case of joint Shareholders, payment will be made to the firstnamed Shareholder. Payment of dividends will ordinarily be made inthe Class Currency of the Shares concerned.All dividends on Shares to the value of less than €100 (or its equivalentin the Base Currency of the particular Fund) will, however, beautomatically reinvested for the account of the Shareholder (at noinitial charge). Dividends which are not automatically reinvested andwhich are not collected within five years will lapse and accrue for thebenefit of the relevant Fund in accordance with Luxembourg law.In normal circumstances capital gains will not be distributed.10

THE JUPITER GLOBAL FUNDHow to Subscribe, Convert and Redeem■■How to Subscribe, Convert and RedeemHow to SubscribeApplications for Shares may be made directly to the Administrator orthrough a Distributor. Initial Application Forms must be sent to theAdministrator by mail, or by a method otherwise specified from time totime at the discretion of the Board of Directors. Afterwards, subsequentApplication Forms may be sent to the Administrator by fax. TheAdministrator will accept subsequent subscription requests (followingan initial subscription submitted by mail) in electronic format (in suchformat or method and under such conditions as shall be deemedacceptable by the Administrator from time to time and subject toapplicable legal and regulatory provisions). The acceptance ofApplication Forms will be subject to the Minimum Initial Investment and/or Minimum Holding requirements and the receipt and acceptance bythe Administrator of any information and documentation required underrelevant anti-money laundering laws. The Minimum Holding stated inthe relevant Information Sheet is exclusive of any Initial Charge.A Shareholder may be permitted to make an initial investmentamounting to less than the Minimum Initial Investment and/or theMinimum Holding at the discretion of the Board of Directors, suchdiscretion being delegated to the Investment Manager. A Shareholdermay also be permitted to make an incremental investment amountingto less than the Minimum Incremental Investment at the discretion ofthe Board of Directors, again with such discretion being delegated tothe Investment Manager.For Applications received by the Administrator prior to the DealingDeadline in respect of a Valuation Day, Shares will be purchased atthe Subscription Price of the relevant Fund, calculated as at theValuation Point on such Valuation Day. An Initial Charge, if applicable,will be deducted from the purchase monies received by the Companyand may be paid to intermediaries or the Distributor. Applicationsreceived by the Administrator after the Dealing Deadline in respect ofa Valuation Day will be dealt at the Valuation Point on the followingValuation Day.To qualify for the allotment of Shares, on a particular Valuation Day,an applicant should ensure that a duly completed and signedApplication Form, together with the cleared subscription monies andany other declarations and information required by the Administrator,is delivered to the Administrator prior to the Dealing Deadline inrespect of that Valuation Day.By prior agreement with the Company, the subscription moniesrelating to an application for the allotment of Shares, on a particularValuation Day may be paid to the Administrator up to three BusinessDays after the applicable Valuation Day (or on such other basis, up toa maximum of five Business Days after the Valuation Day, as may beagreed between the Company and the applicant). Such late paymentsmay only be made in respect of applications for which this arrangementhas been specifically approved by the Company, such approval beingdelegated to the Investment Manager.The Company may, at the discretion of the Board of Directors, suchdiscretion being delegated to the Investment Manager, levy an interestcharge on the late receipt of subscription monies.Payment should be made by electronic transfer in any freely convertiblecurrency. If payment is made in a currency other than the relevant ClassCurrency, the payment will be converted to the Class Currency and thenShares will be allotted on receipt of converted cleared funds. In all suchcases the Custodian will normally be willing to arrange the currencyconversion as the agent of and at the expense of the applicant uponreceipt of cleared funds. Investors should be aware that the amount ofcurrency involved and the time of day at which such foreign exchangeis transacted will affect the rate of exchange. No liability shall beaccepted by the Custodian or the Company for any losses arising fromadverse currency fluctuations.A contract note confirming the issue price, any applicable Initial Chargeand the number of Shares issued will normally be forwarded by theAdministrator within two Business Days following the relevant ValuationDay. No Share certificates will be issued. Shareholders will receive anannual statement of account and a Personal Account Numberevidencing their holding.The Shares have been accepted for clearance through Euroclear andClearstream under the common code numbers indicated on theInformation Sheets. Investors having access to an account withEuroclear or Clearstream should provide details of their Euroclear orClearstream account number in their application to the Administrator.Fight against Money Laundering and Financing of TerrorismPursuant to international rules and Luxembourg laws and regulationscomprising, but not limited to, the law of November 12, 2004 on thefight against money laundering and financing of terrorism, asamended, and circulars of the CSSF, obligations have been imposedon all professionals of the financial sector to prevent the use ofundertakings for collective investment for money laundering andfinancing of terrorism purposes. As a result of such provisions, theregistrar agent of a Luxembourg undertaking for collective investmentmust in principle ascertain the identity of the subscriber in accordancewith Luxembourg laws and regulations. The registrar agent mayrequire subscribers to provide any document it deems necessary toeffect such identification.In case of delay or failure by an applicant to provide the documentsrequired, the application for subscription (or, if applicable, forredemption) will not be accepted. Neither the Company nor theAdministrator have any liability for delays or failure to process deals asa result of the applicant providing no or only incomplete documentation.Shareholders may be requested to provide additional or updatedidentification documents from time to time pursuant to ongoing clientdue diligence requirements under relevant laws and regulations.Market TimingThe Shares are priced on a forward basis. Market timing practices (forexample where an investor appears to subscribe and redeem orconvert Shares within a short space of time in order to exploit pricinginefficiencies due to time zone differences) will not be accepted andthe Company and the Administrator reserve the right to reject orderson suspicion of such activities and to take any necessary action toprotect other investors.GeneralThe Company reserves the right to reject any application for Shares inwhole or in part without stating reasons. Shares will only be allotted ifcleared subscription monies are received by the Administrator with theApplication Form unless otherwise agreed at the discretion of theBoard of Directors, such discretion being delegated to the InvestmentManager. The Company may, if agreed in the sole discretion of theDirectors, satisfy any subscription for Shares in specie, in which casea report from the Company’s auditors on the value of any assetsaccepted by way of in specie subscription will generally be obtained.11

THE JUPITER GLOBAL FUNDHow to Subscribe, Convert and Redeem■■How to Subscribe, Convert and RedeemGeneral continuedNo Shares may be issued in a particular Fund during any period inwhich the calculation of Net Asset Value relating to such Fund hasbeen suspended.How to Redeem SharesRedemption requests should be in writing and sent to the Administrator.The Administrator will also accept redemption requests in electronicformat (in such format or method and under such conditions as shall bedeemed acceptable by the Administrator from time to time and subjectto applicable legal and regulatory provisions). Requests should:(a)(b)(c)state the Fund(s), Class(es) and relevant ISIN numbers of theShares in respect of which the application is being made;state the name of the Shareholder(s) and the Personal AccountNumber of such Shareholder; andstate the number of Shares or amount in cash to be redeemed.Payment of redemption proceeds will be made in accordance withinitial redemption payment instructions as notified in the ApplicationForm. If investors wish to make any change in the redemption paymentinstruction, such change must be by written notice to the Administratorsigned by the sole investor or all joint investors. The Administrator willbe deemed to be authorised to act on any redemption instructionreceived from any person purporting to be the Shareholder andreciting the Personal Account Number.For redemption requests that are received by the Administrator priorto the Dealing Deadline in respect of a Valuation Day, Shares willbe redeemed at the Redemption Price of the relevant Fundcalculated as at the Valuation Point on such Valuation Day.Redemption requests received by the Administrator after the DealingDeadline on a Valuation Day will be dealt with at the Valuation Pointon the following Valuation Day.There is no redemption charge on redemptions unless otherwisespecified in the Information Sheets of a Fund. Any redemption chargewill be retained by the Fund for the benefit of the Class concerned.A contract note confirming the details of the redemption will normallybe forwarded by the Administrator within two Business Days followingthe relevant Valuation Day.Unless otherwise specified in the relevant Information Sheet,redemptions will be effected in the Class Currency of the relevantClass. Redemption proceeds will generally be paid on the fourthBusiness Day after the later of the date on which the applicableRedemption Price is determined and receipt by the Company of awritten redemption request.There is no minimum number of Shares, or minimum value of Shares,which may be redeemed in any one redemption transaction exceptthat in the event of an applicant requesting the redemption of part onlyof his holding of Shares which would, if carried out, leave the applicantholding less than the Minimum Holding, the Directors may, if they thinkfit, redeem the whole of that applicant’s holding in that Class.Redemption in kindThe Board of Directors may, at the request of a Shareholder, agree tomake, in whole or in part, a distribution in kind of securities of the Fundto that Shareholder in lieu of paying to that Shareholder redemptionproceeds in cash. The Board of Directors will agree to do so if theydetermine that such a transaction would not be detrimental to the bestinterests of the remaining Shareholders of the relevant Fund. Suchredemption will be effected at the Net Asset Value of Shares of therelevant Class of the Fund which the Shareholder is redeeming, andthus will constitute a pro rata portion of the Fund’s assets attributablein that Class in terms of value. The assets to be transferred to suchShareholder shall be determined by the Board of Directors, withregard to the practicality of transferring the assets and to the interestsof the Fund and continuing participants therein and to the Shareholder.The selection, valuation and transfer of assets shall be subject to thereview and approval, if required by applicable laws and regulations orthe Board of Directors, of the Company’s auditors at the requestingShareholder’s expense. The costs for such redemptions in kind, inparticular the costs of the special audit report, will be borne by theShareholder requesting the redemption in kind or by a third party, butwill not be borne by the Company unless the Board of Directorsconsiders that the redemption in kind is in the interest of the Companyor made to protect the interests of the Company.Limitation on RedemptionThe Company shall not be bound to redeem on any Valuation DayShares representing more than 10% of the Net Asset Value of anyFund (net of subscriptions on the same Valuation Day). For thispurpose conversions of Shares out of a Class shall be treated asredemptions of such Shares. Redemption requests received on aValuation Day may, in the absolute discretion of the Directors, bescaled down pro-rata so that Shares representing not more than 10%of the Net Asset Value of any Fund may be redeemed on a ValuationDay. In these circumstances redemptions may be deferred by theCompany to the next Valuation Day after the date of receipt of theredemption request. Redemptions that are deferred when processedwill be effected in the order of receipt.The Company and/or the Administrator will accept Shareholderinstructions to redeem by facsimile at the Shareholder’s own risk andprovided that the Shareholder has executed a facsimile instructionindemnity form. Redemption requests may not be withdrawn except inthe event of a suspension set out under the section headed‘Suspension of Dealings in Shares’ or deferral of the right to redeemShares of the relevant Class. Shares redeemed by the Company willbe cancelled.How to Convert SharesConversion facilities are available to all Shareholders wishing toconvert all or part of their holding from one Fund to another.Conversions between Funds are made at the relevant SubscriptionPrice and Redemption Price and may only be made into the equivalentClass in the Fund into which the Shareholder wishes to convert. Forexample, a holding in an € L Class of a Fund may be converted to aholding in another L Class of the same or different currencydenomination. Conversion requests should be presented directly tothe Administrator.Conversion requests should be made in writing and sent to theAdministrator. The Administrator will also accept conversion requestsin electronic format (in such format or method and under suchconditions as shall be deemed acceptable by the Administrator fromtime to time and subject to applicable legal and regulatory provisions).12

THE JUPITER GLOBAL FUNDHow to Subscribe, Convert and Redeem■■How to Subscribe, Convert and RedeemHow to Convert Shares continuedRequests for conversions, once made, may not be withdrawn exceptin the event of a suspension or deferral of the right to redeem Sharesof the Class from which the conversion is to be made or deferral of theright to subscribe for Shares of the Class into which conversion is tobe made. A conversion fee of up to 1% of the gross amount beingswitched (as determined below under ‘F’) may be charged in respectof conversions for the benefit of the Investment Manager or forpayment to a Distributor as the Investment Manager may direct.If as a result of a partial conversion of Shares, the Shareholder’sbalance of Shares in a particular Class falls below the MinimumHolding, the Company may require that these Shares be converted orredeemed. Contract notes will normally be issued within two BusinessDays following the applicable Valuation Day.The rate at which all or any part of a holding of Shares (the ‘originalFund’) is converted on any Valuation Day into Shares of another Fund(the ‘new Fund’) will be determined in accordance with (or as nearlymay be) the following formula:A= ((B x C x E) – F)Where:ABCDEFDis the number of Shares of the new Fund to be allotted;is the number of Shares of the original Fund to be converted;is the NAV per Share of the original Fund ruling on the relevantValuation Day;is the NAV per Share of the new Fund ruling on the relevantValuation Day;is, in the case of a conversion involving two Funds which do nothave the same Base Currency, the exchange rate determined bythe Custodian, for converting the currency of B into the currencyof A; andis a conversion fee of up to 1% of the gross amount beingswitched (i.e. B x C).Shareholders should note that a switch of Shares of one Class forShares in another Class of another Fund may in some jurisdictions bea realisation for the purposes of capital gains taxation. A Shareholderwhose Shares of one Class have been switched into Shares of anotherClass following submission of a switching request, will not be given aright by law to reverse the transaction except as a new transaction.Limited Secondary MarketShareholders should note that a Distributor may, but shall not beobliged to, make a market in Shares and, consequently, acting asprincipal, acquire and hold Shares. When a Distributor makes amarket in Shares, a purchaser will acquire Shares directly from theDistributor and a Shareholder selling Shares will sell them directly tothe Distributor rather than from or to the Company. Acquisition andsale of Shares from and to a Distributor may not be made at pricesexceeding the relevant NAV per Share plus the Initial Charge or beingless than the Redemption Price, respectively. A Shareholder who hasacquired Shares through a Distributor may at any time apply directly tothe Distributor for the redemption of his Shares. For the avoidance ofdoubt, nothing contained herein shall oblige a Distributor to make amarket in the Shares. Any transferee or purchaser of Shares in thesecondary market will be required to comply with the measures aimedtowards the prevention of money laundering set out above.How to Transfer SharesTransfers of Shares may be effected in writing in any usual or commonform acceptable to the Directors, signed by or on behalf of thetransferor and the transferee and every transfer shall state the fullname and address of the transferor and transferee.The Directors or the Administrator may decline to register any transferof Shares where:(i)(ii)the transfer would result in the beneficial ownership of such Sharesby a U.S. Person or otherwise is made in contravention of anyrestrictions on ownership imposed by the Directors or might resultin legal, regulatory, pecuniary, taxation or material administrativedisadvantage to the Company or its Shareholders; orthe transfer is to a person who, if not already a Shareholder,would as a result of the transfer not hold the Minimum Holding.The Directors or the Administrator may decline to register a transfer ofShares unless the transfer form is deposited with the Company or itsdelegate together with such information as may reasonably be requiredincluding evidence required to show the right of the transferor to make thetransfer and satisfy the Administrator as to its requirements with respectto prevention of money laundering. A potential transferee (not being anexisting Shareholder) will be required to complete such documentation aswould have been required had that transferee subscribed for Sharesbefore the proposed transfer is approved for registration.Swing PricingIn the event of large net subscriptions or redemptions the associatedinvestment and/or disinvestment costs for the underlying investmentportfolio of a Fund may have an adverse effect on Shareholders’interests. In order to mitigate this effect, commonly referred to as‘dilution’, the Board of Directors has a discretion to apply a ‘dilutionadjustment’ to subscriptions and/or redemptions of Shares (the“Dilution Adjustment”). This power has been delegated to theInvestment Manager.If applied, the Dilution Adjustment will be paid into the relevant Fundand will become part of the assets of that Fund for the benefit of itsShareholders.The need to make a Dilution Adjustment will depend on the volume ofnet subscriptions or redemptions. The Investment Manager may makea discretionary Dilution Adjustment if, in its opinion, the existingShareholders (prior to large subscriptions) or remaining Shareholders(following large redemptions) are likely to be adversely affected. Inparticular, a Dilution Adjustment may be made by the InvestmentManager in the following circumstances:• where the Fund is, in the opinion of the Investment Manager,experiencing a period of continued decline;• where the Fund is, in the opinion of the Investment Manager,experiencing a period of continued expansion;• where the Fund experiences a level of net redemptions or netsubscriptions on any Valuation Day which exceeds the thresholddetermined by the Investment Manager for the Fund; or• in any other case where the Investment Manager is of the opinionthat the interests of Shareholders require the imposition of aDilution Adjustment.13

THE JUPITER GLOBAL FUNDHow to Subscribe, Convert and Redeem■■How to Subscribe, Convert and RedeemSwing Pricing continuedWhere a Dilution Adjustment is made, it will increase the SubscriptionPrice when there are net inflows into the Fund or decrease theRedemption Price when there are net outflows.The price of each Class in each Fund will be calculated separately, butany Dilution Adjustment will affect the price of Shares of each Class ofthe relevant Fund identically up to a maximum of 2%.In circumstances when the Investment Manager elects not to apply aDilution Adjustment there may be an adverse impact on the totalassets of the Fund pursuant to net subscriptions or redemptions. Asdilution is directly related to the value of inflows and outflows of moneyfrom the Fund, it is not possible to accurately predict whether dilutionwill occur at any future point in time. Consequently it is also notpossible to accurately predict how frequently the Investment Managerwill need to impose a Dilution Adjustment.Because the Dilution Adjustment for each Fund will be calculated byreference to the costs of dealing in the underlying investments of thatFund, including any dealing spreads (which can vary with marketconditions), the amount of any Dilution Adjustment applicable to agiven Fund will vary over time.Calculation of Dilution Adjustment:In applying a Dilution Adjustment, the Investment Manager must usethe following basis of valuation:• When, by reference to any Valuation Point, the aggregate value ofthe Shares of all Classes of the Fund issued exceeds the aggregatevalue of Shares of all Classes cancelled, any adjustment must beupwards. The Dilution Adjustment must not exceed the InvestmentManager’s reasonable estimate of the difference between what theSubscription Price or Redemption Price would have been had theDilution Adjustment not been taken into account and what theSubscription Price or Redemption Price would have been if theassets of the Fund had been valued on the best available marketoffered basis (plus dealing costs); or• When, by reference to any valuation point, the aggregate value ofthe Shares of all Classes of the Fund redeemed exceeds theaggregate value of Units of all Classes issued, any adjustmentmust be downwards. The Dilution Adjustment must not exceed theInvestment Manager’s reasonable estimate of the differencebetween what the price would have been had the DilutionAdjustment not been taken into account and what the price wouldhave been if the assets of the Fund had been valued on the bestavailable market bid basis (less dealing costs).Calculation of Net Asset ValueThe Net Asset Value per Share of each Class in each Fund will bedetermined in respect of any Valuation Day in the currency of therelevant Class, as determined by the Board of Directors. It will becalculated by dividing the value of the net assets of the Fund attributableto such Class by the number of Shares in issue of that Class.The value of the net assets of each Fund will be determined inaccordance with the Articles in the following manner.The assets of the Company shall be deemed to include:(i)(ii)(iii)(iv)(v)(vi)all cash balances and deposits, including any interest accruedthereon;all bills and demand notes and accounts receivable (includingproceeds of securities sold but not settled);all bonds, time notes, shares, stock, units/shares in undertakingsfor collective investment, debenture stocks, subscription rights,warrants, options and other investments and securities owned orcontracted for by the Company;all stock, stock dividends, cash dividends and cash distributionsreceivable by the Company to the extent that information thereonis reasonably available to the Company (provided that theCompany may make adjustments with regard to fluctuations inthe market value of securities caused by trading ex-dividends,ex-rights, or similar practices);all interest accrued on any interest-bearing securities owned bythe Company except to the extent that the same is included orreflected in the principal amount of such security;the launch expenses of the Company insofar as the same havenot been written off, provided that such preliminary expensesmay be written off directly from the capital of the Company; and(vii) all other permitted assets of every kind and nature, includingprepaid expenses.The value of such assets shall be determined as follows:(i)the value of any cash balances or deposits, bills and demandnotes and accounts receivable, prepaid expenses, cashdividends and interest declared or accrued as aforesaid and notyet received shall be deemed to be the full amount thereof,unless in any case the same is unlikely to be paid or received infull, in which case the value thereof shall be arrived at aftermaking such discount as the Company may consider appropriatein such case to reflect the true value thereof;(ii) the value of securities, money market instruments and/orfinancial derivative instruments which are listed on any officialstock exchange or dealt in on any Regulated Market are valuedat the last available price in accordance with the Company’scurrent accounting policies;(iii)(iv)in the event that any of the securities, including money marketinstruments or financial derivative instruments held by theCompany’s portfolio on the relevant day are not listed on anystock exchange or dealt in on any Regulated Market or if, withrespect to securities listed on any stock exchange or dealt in onany other Regulated Market, the basis of the price as determinedpursuant to sub-paragraph (ii) is not representative of the fairmarket value of the relevant securities, the value of suchsecurities will be determined based on the reasonablyforeseeable sales price determined prudently and in good faith;the financial derivative instruments which are not listed on anyofficial stock exchange or traded on any other Regulated Marketwill be valued in a reliable and verifiable manner on a daily basisand verified by a competent professional appointed by theCompany in accordance with market practice;14

THE JUPITER GLOBAL FUNDHow to Subscribe, Convert and Redeem■■How to Subscribe, Convert and RedeemThe value of such assets shall be determined as follows:continued(v)(vi)units or shares in open-ended investment funds shall be valuedat their last available net asset value reduced by any applicableredemption charge;the value of money market instruments neither listed or dealt inon a stock exchange nor dealt in on any other Regulated Marketshall be based on the nominal value plus any accrued interest oran amortised cost basis;(vii) in the event that the above mentioned calculation methods areinappropriate or misleading, the Directors may adjust the valueof any investment or permit another method of valuation to beused for the assets of the Company; and(viii) in circumstances where the interests of the Company or itsShareholders so justify (for example, the avoidance of markettiming practices), the Directors may take appropriate measures,such as applying a fair value pricing methodology, to adjust thevalue of the Company’s assets.The liabilities of the Company shall be deemed to include:(i)all loans, bills and accounts payable;(ii) all accrued or payable administrative expenses (includingmanagement and advisory fees, custodian fee and corporateagents’ fee as well as the costs of incorporation and registration,legal publications and prospectus printing, financial reports andother documents made available to Shareholders, marketingand advertisement costs);(iii) all known liabilities, present and future, including all maturedcontractual obligations for payments of money or property, includingthe amount of any unpaid dividends declared by the Companywhere the Valuation Day falls on the record date for determinationof the persons entitled thereto, or is subsequent thereto;(iv)(v)an appropriate provision for future taxes based on capital andincome to the Valuation Day, as determined from time to time bythe Company, and other reserves (if any) authorised andapproved by the Directors; andall other liabilities of the Company of whatsoever kind and natureexcept liabilities represented by Shares in the relevant Fund. Indetermining the amount of such liabilities the Company maycalculate administrative and other expenses of a regular orrecurring nature on an estimated figure for yearly or otherperiods in advance, and may accrue the same in equalproportions over any such period.In calculating the Net Asset Value, the Administrator may rely uponsuch automatic pricing services as it shall determine or, if so instructedby the Company, the Management Company or the InvestmentManager, it may use information provided by particular pricingservices, brokers, market makers or other intermediaries. In suchcircumstances, the Administrator shall not, in the absence of fraud,negligence or wilful default on the part of the Administrator, be liablefor any loss suffered by the Company or any Shareholder by reason ofany error in the calculation of the Net Asset Value resulting from anyinaccuracy in the information provided by any such pricing service,broker, market maker or other intermediary.Suspension of Dealings in SharesThe Directors may suspend the determination of the Net Asset Valueof any Fund and the issue and redemption of any Fund’s Shares toand from its Shareholders and the conversion from and to Shares ofthe relevant Fund during:(i)(ii)any period when any of the principal stock exchanges or marketson which any substantial portion of the investments of theCompany attributable to such Fund are quoted or dealt in areclosed otherwise than for ordinary holidays, or during whichdealings therein are restricted or suspended; orthe existence of any state of affairs which constitutes anemergency as a result of which disposals or valuation of assetsowned by the Company attributable to such Fund would beimpracticable; or(iii) any breakdown in or restriction in the use of the means ofcommunication normally employed in determining the price orvalue of any of the investments attributable to such Fund or thecurrent price or values on any stock exchange; or(iv)(v)(vi)(vii)any period when the Company is unable to repatriate monies forthe purpose of making payments on the redemption of suchShares or during which any transfer of funds involved in therealisation or acquisition of investments or payments due onredemption of such Shares cannot in the opinion of the Directorsbe effected at normal rates of exchange; orany period when, in the opinion of the Directors, there existunusual circumstances where it would be impracticable or unfairtowards the Shareholders to continue dealing in the Shares ofany Fund of the Company; orany period, if the Directors so decide and if the Company or therelevant Fund is being or may be wound up, commencing on orfollowing the date on which notice is given of the general meetingof Shareholders at which a resolution to wind up the Company orthe relevant Fund is to be proposed; orany period when the Net Asset Value of any subsidiary of theCompany cannot be accurately determined.No Share of such a Fund may be issued or redeemed and noconversion of Shares can be made to or from such Fund during suchperiod of suspension. Notice of any suspension will be published in aLuxembourg newspaper and in such other newspapers as theDirectors may from time to time determine. Any person applying forthe issue, redemption or conversion of Shares of such a Fund willpromptly be informed upon making such application. During any suchperiod of suspension, Shareholders who have applied for the issue,redemption or conversion of Shares of any such Fund may revoketheir application. In the absence of such revocation, the Subscriptionor Redemption Price or relevant NAV per Share shall be based on thefirst calculation of NAV made after the expiration of such period ofsuspension or deferral.The suspension in dealing in Shares in any one Fund will have noeffect on the calculation of the NAV per Share, the issue, redemptionand conversion of the Shares of any other Fund.15

THE JUPITER GLOBAL FUNDInvestment Restrictions■■Investment RestrictionsThe Directors shall, based upon the principle of spreading of risks,have power to determine the investment policy for the investments ofeach Fund. Except to the extent that more restrictive rules are providedfor in connection with a specific Fund as set out in the relevantInformation Sheet for that Fund, the investment policy shall complywith the rules and restrictions set out below.1. (a) Investments in the Funds may consist of:(i)(ii)(iii)(iv)(v)Transferable Securities and money market instrumentsadmitted to official listing on a Stock Exchange; and/orTransferable Securities and money market instrumentsdealt in on another Regulated Market; and/orRecently issued Transferable Securities and money marketinstruments, provided that the terms of issue include anundertaking that application will be made for admission toofficial listing on a Regulated Market and such admission issecured within a year of the issue; and/orUnits of UCITS authorised according to the UCITSDirective and/or other undertakings for collectiveinvestment (‘UCI’) within the meaning of the first andsecond indent of article 1, paragraph (2) of the UCITSDirective, whether situated in a member state of the EU(‘an EU Member State’) or not, provided that:• such other UCIs have been authorised under the lawsof any member country of the European Union orunder the laws of those countries provided that theyare subject to supervision considered by the CSSF tobe equivalent to that laid down in European Communitylaw and that cooperation between authorities issufficiently ensured; or• the level of protection for unitholders in such otherUCIs is equivalent to that provided for unitholders in aUCITS, and in particular that the rules on assetssegregation, borrowing, lending, and uncovered salesof Transferable Securities and money marketinstruments are equivalent to the requirements of theamended UCITS Directive;• the business of such other UCIs is reported inhalf-yearly and annual reports to enable an assessmentof the assets and liabilities, income and operationsover the reporting period;• no more than 10% of the assets of the UCITS or of theother UCIs, whose acquisition is contemplated, can,according to their constitutional documents, inaggregate be invested in units of other UCITS or otherUCIs; and/orDeposits with credit institutions which are repayable ondemand or have the right to be withdrawn, and maturing inno more that 12 months, provided that the credit institutionhas its registered office in a country which is an EUMember State or if the registered office of the creditinstitution is situated in a non-EU Member State providedthat it is subject to prudential rules considered by theLuxembourg regulator as equivalent to those laid down inEuropean Community law; and/or(vi)and/or(vii)Financial derivative instruments, including equivalentcash-settled instruments, dealt in on a Regulated Marketreferred to in sub-paragraphs (i) and (ii) above, and/orfinancial derivative instruments dealt in over-the-counter(‘OTC derivatives’), provided that:• the underlying consists of instruments covered by thissection (1) (a), financial indices, interest rates, foreignexchange rates or currencies, in which the Funds mayinvest according to their investment objective;• the counterparties to OTC derivative transactions areinstitutions subject to prudential supervision, andbelonging to the categories approved by theLuxembourg supervisory authority;• the OTC derivatives are subject to reliable andverifiable valuation on a daily basis and can be sold,liquidated or closed by an offsetting transaction at anytime at their fair value at the Board’s initiative;Money market instruments other than those dealt in on aRegulated Market, if the issue or the issuer of suchinstruments are themselves regulated for the purpose ofprotecting investors and savings, and provided that suchinstruments are:(a) issued or guaranteed by a central, regional or localauthority or by a central bank of an EU Member State,the European Central Bank, the EU or the EuropeanInvestment Bank, a non-EU Member State or, in thecase of a Federal State, by one of the members makingup the federation, or by a public international body towhich one or more EU Member States belong; or(b) issued by an undertaking, any securities of which aredealt in on Regulated Markets referred to in (1) (a) (i)and (ii) above; or(c) issued or guaranteed by an establishment subject toprudential supervision, in accordance with criteriadefined by Community law, or by an establishmentwhich is subject to and complies with prudential rulesconsidered by the Luxembourg regulator to be at leastas stringent as those laid down by Community law; or(d) issued by other bodies belonging to the categoriesapproved by the CSSF provided that investments insuch instruments are subject to investor protectionequivalent to that laid down in (a), (b) or (c) above andprovided that the issuer is a company whose capitaland reserves amount to at least 10 million Euro (EUR10,000,000) and which presents and publishes itsannual accounts in accordance with the fourth Directive78/660/EEC, is an entity which, within a group ofcompanies, is dedicated to the financing of the groupor is an entity which is dedicated to the financing ofsecuritisation vehicles which benefit from a bankingliquidity line.(b) Each Fund may invest a maximum of 10% of its net assets inTransferable Securities and money market instruments otherthan those referred to under (a) above.16

THE JUPITER GLOBAL FUNDInvestment Restrictions■■Investment Restrictions2.(a) Each Fund may hold ancillary liquid assets.(b) The Company will ensure that the global exposure relating toderivative instruments does not exceed the total net value of theFund to which they apply.The exposure is calculated taking into account the current valueof the underlying assets, the counterparty risk, foreseeablemarket movements and the time available to liquidate thepositions. This shall also apply to the following subparagraphs.The Company may invest, as a part of the investment policy of itsFunds and within the limits laid down in paragraph (3) (a) (v) and(vi) in financial derivative instruments provided that the exposureto the underlying assets does not exceed in aggregate theinvestment limit laid down in paragraph (3). When the Companyon the behalf of any of its Funds invests in index-based financialderivative instruments, these investments do not have to becombined to the limits laid down in paragraph (3).When a Transferable Security or money market instrumentembeds a derivative, the latter must be taken into account whencomplying with the requirements of this item 2.3. (a) (i) The Company will invest no more than 10% of the net assets(ii)(iii)of any Fund in Transferable Securities or money marketinstruments issued by the same issuing body.The Company may not invest more than 20% of the total netassets of such Fund in deposits made with the same body.The risk exposure to a counterparty of a Fund in an OTCderivative transaction may not exceed 10% of its netassets when the counterparty is a credit institution referredto in (1) (a) (v) above or 5% of its net assets in other cases.The total value of the Transferable Securities and moneymarket instruments held by the Company on behalf of theFund in the issuing bodies in each of which it invests morethan 5% of the net assets of such Fund must not exceed40% of the Net Asset Value of such Fund.This limitation does not apply to deposits and OTCderivative transactions made with financial institutionssubject to prudential supervision.Notwithstanding the individual limits laid down in paragraph(3) (a) (i), the Company may not combine for each Fund:• investments in Transferable Securities or moneymarket instruments issued by, and/or• deposits made with, and/or• exposures arising from OTC derivative transactionsundertaken with a single body,in excess of 20% of its net assets.The limit of 10% laid down in sub-paragraph (3) (a) (i) abovewill be increased to a maximum of 35% in respect ofTransferable Securities or money market instruments whichare issued or guaranteed by an EU Member State, its localauthorities or agencies, or by another eligible state or bypublic international bodies of which one or more EU MemberStates are members.(iv)(v)(b) (i)The limit laid down in the first paragraph of (3) (a) (i) maybe a maximum of 25% for certain debt instruments whenthey are issued by a credit institution which has itsregistered office in the EU and is subject by law, to specialpublic supervision designed to protect unitholders. Inparticular, sums deriving from the issue of these debtinstruments must be invested in accordance with the law, inassets which, during the whole period of validity of the debtinstruments, are capable of covering claims attached to saidinstruments and which, in the case of bankruptcy of theissuer, would be used on a priority basis for the repaymentof the principal and payment of accrued interest.If a Fund invests more than 5% of its net assets in the debtinstruments referred to in the above paragraph and issuedby one issuer, the total value of such investments may notexceed 80% of the Net Asset Value of the Fund.The Transferable Securities and money market instrumentsreferred to in paragraphs (iii) and (iv) above shall not beincluded in the calculation of the limit of 40% stated inparagraph (3) (a) (ii) above.(vi) The limits set out in sub-paragraphs (i), (ii), (iii) and (iv)may not be aggregated and, accordingly, investments inTransferable Securities or money market instrumentsissued by the same issuing body, in deposits or derivativeinstruments made with this body carried out in accordancewith sub-paragraphs (i), (ii), (iii) and (iv) above may not, inany event, exceed a total of 35% of any Fund’s net assets.Companies which are part of the same group for thepurposes of the establishment of consolidated accounts,as defined in accordance with directive 83/349/EEC or inaccordance with recognised international accounting rules,are regarded as a single body for the purpose of calculatingthe limits contained in section (3) (a).A Fund may cumulatively invest up to 20% of the netassets in Transferable Securities and money marketinstruments within the same group.Unless otherwise provided for in the relevant InformationSheet for a particular Fund, a Fund may invest up to 30%of its net assets in China A-Shares.Without prejudice to the limits laid down in section 4 below,the limits laid down in section (3) (a) above are raised to amaximum of 20% for investments in shares and/or debtsecurities issued by the same body when, according to theProspectus, the aim of the Funds’ investment policy is toreplicate the composition of a certain stock or debtsecurities index which is recognised by the CSSF, on thefollowing basis:• the composition of the index is sufficiently diversified,• the index represents an adequate benchmark for themarket to which it refers, and• it is published in an appropriate manner.17

THE JUPITER GLOBAL FUNDInvestment Restrictions■■Investment Restrictions(ii) The limit laid down in (3) (b) (i) above is raised to 35%where that proves to be justified by exceptional marketconditions in particular in Regulated Markets where certainTransferable Securities or money market instruments arehighly dominant. The investment up to this limit is onlypermitted for a single issuer.(iii)Notwithstanding the provisions outlined in section (3) (a),the Company is authorised to invest up to 100% of the netassets of any Fund, in accordance with the principle of riskspreading, in Transferable Securities and money marketinstruments issued or guaranteed by an EU Member State,by its local authorities, or by a non-member state of theEuropean Union accepted to that effect by the Luxembourgregulator (including but not limited to member states of theOrganisation for Economic Co-Operation and Development,Singapore, Brazil, Russia and Indonesia) or by publicinternational bodies of which one or more EU MemberStates are members, provided that such Fund must holdsecurities from at least six different issues and securitiesfrom one issue do not account for more than 30% of the totalnet assets of such Fund.4. (a) The Company may not acquire:(i)(ii)Shares carrying voting rights which should enable it toexercise significant influence over the management of anissuing body; orMore than:(a) 10% of the non-voting shares of the same issuer; and/or(b) 10% of the debt securities of the same issuer; and/or(c) 25% of the units of the same UCITS and/or other UCI;and/or(d) 10% of the money market instruments of the sameissuer.The limits under (4) (a) (ii) (b, c and d) may be disregarded at thetime of acquisition, if at that time the gross amount of the debtsecurities, or of money market instruments or units or the netamount of the instruments in issue cannot be calculated.(b) Paragraphs (4) (a) (i) and (4) (a) (ii) above are waived as regards:(i)(ii)Transferable Securities and money market instrumentsissued or guaranteed by an EU Member State or its localauthorities;Transferable Securities and money market instrumentsissued or guaranteed by a non-member state of the EU;(iii) Transferable Securities and money market instrumentsissued by public international bodies of which one or moreEU Member States are members;(iv) Shares held by a Fund in the capital of a companyincorporated in a non-member state of the EU which investsits assets mainly in the securities of issuing bodies havingtheir registered office in that State, where under thelegislation of that state, such a holding represents the onlyway in which the Fund can invest in the issuing bodies ofthat state. This derogation, however, shall apply only if in itsinvestment policy the company from the non-member stateof the EU complies with the limits laid down in (3) (a), (4) (a)(i) and (ii), and (5); and(v)Shares held by one or more investment companies in thecapital of subsidiary companies which, exclusively on its ortheir behalf carry on only the business of management,advice or marketing in the country where the subsidiary islocated, in regard to the redemption of Shares at the requestof Shareholders.5. (a) The Company may acquire units of the UCITS and/or other UCIsas defined under paragraph (1) (a) (iv), provided that, unlessotherwise provided in the Information Sheet for any specificFund, no more than 10% in total of a Fund’s net assets beinvested in the units of UCITS and/or other UCIs or in any singleUCITS or other UCI.(b) When the Company invests in the units of other UCITS and/orother UCIs that are managed directly or indirectly by theManagement Company and/or the Investment Manager, or acompany with which they are linked by common management orcontrol, or by a direct or indirect holding of more than 10% of thecapital or the voting rights, no subscription or redemption feesmay be charged to the Company on account of its investment inthe units of such other UCITS and/or UCIs.In respect of a Fund’s investments in UCITS and other UCIslinked to the Company as described in the preceding paragraph,either no management fee (including any performance fee) will becharged by the Fund to that portion of the Fund’s assets investedin UCITS and other UCIs linked to the Company or a reducedmanagement fee of a maximum 0.25% may be charged by theCompany. Alternatively, where a Fund invests in UCITS and otherUCIs linked to the Company that have a lower management feethan the Fund, the difference between the percentage of theFund’s management fee and the UCITS and UCIs’ managementfee may be charged to that portion of assets invested in suchfunds. The Company will indicate in its annual report the totalmanagement fee charged both to the relevant Fund and to theUCITS and other UCIs in which such Fund has invested duringthe relevant period. The maximum total accumulated managementfee will be 4.0%.(c) The underlying investments held by the UCITS or other UCIs inwhich the Company invests do not have to be considered for thepurpose of the investment restrictions set forth under (3) (a) above.6. In addition the Company will not, unless otherwise indicated in theInformation Sheet in relation to a particular Fund:(a) make investments in, or enter into transactions involving,precious metals, commodities, commodities contracts, orcertificates representing these, invest in exchange traded fundsor financial derivative instruments linked to commodity indices orfinancial indices including commodity indices. Under nocircumstances will the Company acquire commodities orcertificates representing commodities;(b) purchase or sell real estate or any option, right or interest therein,provided the Company may invest in Transferable Securitiessecured by real estate or interests therein or issued by companieswhich invest in real estate or interests therein;(c) carry out uncovered sales of Transferable Securities or otherfinancial instruments, money market instruments or UCITS and/orother UCIs referred to above; other UCIs referred to above;18

THE JUPITER GLOBAL FUNDInvestment Restrictions■■Investment Restrictions6. continued(d)(e)(f)(g)(h)make loans to – or act as guarantor on behalf of – third parties,provided that for the purpose of this restriction, the followingare allowed:(i)(ii)(iii)the acquisition of eligible investments in fully or partly paidform; andthe permitted lending of portfolio securities; andthis restriction shall not prevent the Company from acquiringTransferable Securities, money market instruments or otherfinancial instruments referred to in paragraph (1) (a) (iv), (vi)and (vii), which are not fully paid.borrow for the account of any Fund amounts in excess of 10% ofthe total net assets of that Fund taken at market value, any suchborrowings to be from banks and to be effected only as atemporary measure for exceptional purposes including theredemption of Shares. However, the Company may acquireforeign currency by means of a back-to-back loan;mortgage, pledge, hypothecate or otherwise encumber as securityfor indebtedness any securities held for the account of any Fund,except as may be necessary in connection with the borrowingsmentioned above, and then such mortgaging, pledging orhypothecating may not exceed 10% of the Net Asset Value ofeach Fund. In connection with OTC transactions includingamongst others, swap transactions, option and forward exchangeor futures transactions, the deposit of securities or other assets ina separate account shall not be considered a mortgage, pledge orhypothecation for this purpose;underwrite or sub-underwrite securities of other issuers; ormake investments in any Transferable Securities involving theassumption of unlimited liability.7. To the extent that an issuer is a legal entity with multiplecompartments where the assets of a compartment are exclusivelyreserved to the investors in such compartment and to thosecreditors whose claim has arisen in connection with the creation,operation or liquidation of that compartment, each compartment isto be considered to be a separate issuer for the purpose of theapplication of the risk-spreading rules set out in (3) (a), (3) (b) (i)and (ii), and (5) above.8. During the first six months following its launch, a new Fund mayderogate from restrictions (3) and (5) while ensuring observanceof the principle of risk-spreading.9. Each Fund must ensure an adequate spread of investment risksby sufficient diversification.10. The Company will in addition comply with such further restrictionsas may be required by the regulatory authorities in which theShares are marketed.The Company need not comply with the investment limit percentageswhen exercising subscription rights attached to securities which formpart of its assets.If the percentage limitations set forth in the above restrictions areexceeded for reasons beyond the control of the Company or as a resultof the exercise of subscription rights, it must adopt as a priority objectivefor its sales transactions the remedying of that situation, taking dueaccount of the interests of its Shareholders.Commodity IndicesIf expressly provided for in the investment policy of a Fund in its InformationSheet, a Fund may have exposure to indices that will (i) contain a singleunderlying commodity (‘Single Commodity Index’) or (ii) be representativeof the commodity markets (‘Market Commodity Index’).Where a Fund has exposure to a combination of both SingleCommodity Indices and Market Commodity Indices, the Fund’s netexposure to any single underlying commodity may not exceed 20%.This limit may be increased to a maximum of 35% in respect of onesingle underlying commodity.Notwithstanding the aforementioned limits, the Fund’s exposure to anySingle Commodity Index may not exceed 10% of the Fund’s net assets.Furthermore, the aggregate exposure of the Fund to such SingleCommodity Indices with exposure exceeding 5% may not exceed 40% ofthe assets of the Fund. In addition, in respect of the Fund’s exposure toSingle Commodity Indices, the Fund’s net exposure to any singlecommodity underlying such Single Commodity Indices is limited to 10%,and the aggregate exposure of the Fund to such single commodities withexposure exceeding 5% may not exceed 40% of the assets of the Fund.Financial Techniques and InstrumentsThe use of derivatives or other financial techniques and instrumentsmay not cause the Company to stray from the investment objectives setout in the Information Sheets. Subject to the limits set out in the sectionheaded ‘Investment Restrictions’ above and subject also to any furtherlimits identified in the Information Sheet for each Fund, each of theFunds has the ability: to hedge against directional risk using indexfutures and/or cash; to hold bonds and warrants on transferablesecurities; to use options and futures for hedging purposes and forefficient portfolio management; to enter into total return and other swaparrangements (including portfolio swaps); to use forward currencycontracts; to effect repurchase transactions (subject to paragraph 6below); and to hold ancillary liquid assets.1. Measurement of exposure to financial derivative instrumentsfor risk management purposesThe Management Company and the Investment Manager maycalculate the Fund’s global exposure of each Fund on a‘commitment approach’. This means that, in respect of eachfinancial derivative instrument, the relevant Fund’s commitmentmay be calculated by adding to the unrealised net present valueof each derivative contract an amount corresponding to an ‘addon’percentage applied to the nominal value of that derivativecontract. The add-on percentage is determined in accordancewith a methodology which takes into account the nature of theasset class underlying the derivative, counterparty exposure andmarket volatility. Further information on this add-on methodologycan be obtained by investors upon request from the ManagementCompany or the Investment Manager. The global exposure of aFund may also be calculated by applying a ‘Value-at-Risk’.Further details are set out under the heading ‘Risks Related tothe Use of Financial Derivative Instruments’ on page 22 belowand also under the heading ‘Risk Management Process’ onpage 34 below.19

THE JUPITER GLOBAL FUNDInvestment Restrictions■■Investment RestrictionsFinancial Techniques and Instruments continued1. Measurement of exposure to financial derivative instrumentsfor risk management purposes continuedFunds calculating their global exposure on a ‘commitmentapproach’ must comply with the limits and restrictions specifiedabove when using financial derivative instruments. They willgenerally make use of financial derivative instruments and othertechniques and instruments relating to transferable securities forthe purpose of efficient portfolio management or for providingprotection against exchange rate risks unless otherwisedisclosed in the specific investment policy of the relevant Fund(under the conditions and within the limits laid down by law,regulation and administrative practice) or otherwise as furtherdescribed below.Subject to the foregoing provisions, the Investment Restrictionsrelating to the use of financial derivative instruments will notapply to those Funds applying a Value-at-Risk (VaR) approachto calculate their global exposure to financial derivativeinstruments as referred to in CSSF Circular 11/512. With theVaR process, the risks are measured daily with a 99th percentileconfidence interval and a holding period of 20 trading days. TheVaR is deemed to be the maximum amount that would be lostwith a probability of 99% assuming a holding period for theportfolio of one month. According to this model, the amount isexceeded in 1% of cases. The VaR of the Fund may at no timeexceed either twice the VaR of a derivative-free benchmarkportfolio or 20%, at the Investment Manager’s discretion. EachFund for which the global exposure is calculated by applying aVaR shall conduct regular stress tests.2. Use of Financial futures contracts, options and warrants inrelation to:a. SecuritiesThe investment strategies permitted of the Funds includetransactions in financial futures contracts and options thereon.The Funds may also engage in transactions in options andwarrants on portfolio securities, on bond and stock indices andon portfolios of indices.b. CurrenciesThe Funds may seek to hedge their investments againstcurrency fluctuations which are adverse to the respectivecurrencies in which these Funds are denominated by utilisingcurrency options, futures contracts and forward foreign exchangecontracts. In this regard, the currency exposure of a Fund maybe managed with reference to the market benchmark used forthe investments of such Fund. In that case, the benchmark willbe disclosed in the Information Sheet. The currency exposureresulting from such benchmark may or may not be hedgedagainst the reference currency of the Fund. Within the limits setout herein, each Fund may also use forward foreign exchangecontracts, currency options or currency swaps to alter thecurrency composition of the Fund’s portfolio with reference tosuch benchmarks.c. Interest ratesThe Fund may sell interest rate futures contracts, write calloptions or purchase put options on interest rates or enter intoswap agreements for the purpose of hedging against interestrate fluctuations.Each Fund may also for a purpose other than hedging, purchaseand sell futures contracts and options on any kind of financialinstruments within the limitations and conditions specified inthese investment restrictions.3. Use of Swap contractsSubject to the limits set out in the section headed ‘InvestmentRestrictions’ above and subject also to any further limitsidentified in the Information Sheet for each Fund, each of theFunds has the ability to enter into swap arrangements, includingtotal return swaps, portfolio swaps and credit default swaps aseach is further described below:a. Total return swapsA total return swap is a swap agreement in which one party makespayments based on a notional interest rate, (whether at a fixed orvariable rate), while the other party makes payments based on thetotal return on an underlying asset (which includes both anyincome that it generates and any capital gains or losses).Total return swaps allow the party receiving the total return togain exposure and benefit from any gains on a reference assetwithout actually having to own it. Conversely, total return swapsallow the party offering the total return to buy protection againstan anticipated loss in the value of the reference asset.Total return swaps may be linked to a variety of reference assets,such as (without limitation) currency exchange rates, interestrates, prices and total returns on interest rate indices, fixedincome indices, individual transferrable securities and indicesand baskets thereof. The form of total return swap commonlyassociated with the return on transferrable securities is knownas a ‘portfolio swap’:b. Portfolio swapsEach Fund may enter into ‘portfolio swaps’ in which the Fundand a counterparty enter into a total return swap to exchangepayments where one or both parties pay a cash amount whichreplicates the economic performance and cash flows generatedby a transferrable security (or a basket or index thereof).The payments made by the Fund to the counterparty and viceversa under a portfolio swap are calculated by reference to aspecific reference asset (usually a transferrable security, adefined basket of transferrable securities or an index) and anagreed upon notional interest rate (as described above).The reference asset for a portfolio swap would ordinarily be atransferable security or an index associated with a RegulatedMarket. Settlement of portfolio swaps is always made in cash(rather than by means of delivery of physical goods or securities).Portfolio swaps are primarily used to take long or short positionsin individual transferable securities. For example, the holder of a‘long’ portfolio swap (a long portfolio swap being one that mimicsa purchase) can attain not only exact participation in the pricemovement of that security, but also a credit for the net dividendif the underlying securities go ‘ex dividend’ during the time thatthe portfolio swap position is open.20

THE JUPITER GLOBAL FUNDInvestment Restrictions■■Investment RestrictionsFinancial Techniques and Instruments continuedc. Credit default swapsThe Company may, at the discretion of the Investment Manager,use credit default swaps. A credit default swap is a bilateralfinancial contract in which one counterparty (the protection buyer)pays a periodic fee in return for a contingent payment by theprotection seller following a credit event of a reference issuer or abasket of reference issuers or a reference index. The protectionbuyer must either sell particular obligations issued by the referenceissuer for its par value (or some other designated reference orstrike price) when a credit event occurs or receive a cashsettlement based on the difference between the market priceand such reference price. A credit event is commonly definedas bankruptcy, insolvency, receivership, material adverserestructuring of debt, or failure to meet payment obligations whendue. The International Swaps and Derivatives Association (‘ISDA’)has produced standardised documentation for these transactionsunder the umbrella of its ISDA Master Agreement.• Credit default swaps for hedging purposesFor the purposes of efficient portfolio management, theCompany may use credit default swaps in order to hedgethe specific credit risk of some of the issuers in its portfolioby buying protection.• Credit default swaps for buying protection for the FundIn addition, the Company may, provided it is in its exclusiveinterest, buy protection under credit default swaps withoutholding the underlying assets provided that the aggregatepremiums paid together with the present value of theaggregate premiums still payable in connection with the creditdefault swap purchased together with the amount of theaggregate of premiums paid relating to the purchase ofoptions on Transferable Securities or on financial instrumentsfor a purpose other than hedging, may not, at any time,exceed 15% of the net assets of the Fund to which they relate.• Credit default swaps for acquiring credit exposureProvided it is in its exclusive interest, the Company may alsosell protection under credit default swaps in order to acquirea specific credit exposure. In addition, the aggregatecommitments in connection with such credit default swapsold together with the amount of the commitments relating tothe purchase and sale of futures and option contracts on anykind of financial instruments and the commitments relatingto the sale of call and put options on transferable securitiesmay not, at any time, exceed the value of the net assets ofthe Fund to which they relate.The Company will only enter into credit default swaptransactions with institutions specialised in this type oftransaction and only in accordance with the standard termslaid down by the relevant ISDA. Each Fund may invest incredit default swaps, provided at all times that the use ofcredit default swaps will not result in a Fund diverging fromits investment strategy.4. Maximum exposure to financial derivative instrumentsThe total commitment of each Fund arising from (1) the use ofswaps, (2) the purchase and sale transactions of futurescontracts and options on any kind of financial instruments and(3) with the amount of commitments relating to the writing of calland put options on Transferable Securities may not exceed atany time the value of the net assets of the relevant Fund.The writing of call options on Transferable Securities for whichthe Fund has adequate coverage are not considered for thecalculation of the aggregate amount of the commitments referredto above. All such permitted transactions must be effectedsubject to the limits set out in the section headed ‘InvestmentRestrictions’ above and subject also to any further limitsidentified in the Information Sheet for each Fund.5. Risks associated with the use of financial techniques andinstrumentsUse of the aforesaid financial techniques and instruments involvesadditional risks and there can be no assurance that the objectivesought from such use will be achieved. Further details if the risksinvolved are set out under the heading ‘Risks Related to the Useof Financial Derivative Instruments’ on page 22 below.If any Fund intends to make use of aforesaid financial techniquesand instruments, on a regular and ongoing, rather than on anoccasional basis, this policy will be disclosed accordingly in thecorresponding Information Sheet for the Fund concerned.6. Securities lending transactions or repurchase agreementsUnless otherwise provided in the Information Sheet for a givenFund, the Company will not enter into securities lendingtransactions or repurchase agreements.Use of the aforesaid techniques and instruments involves certain risksand there can be no assurance that the objective sought to be obtainedfrom such use will be achieved.21

THE JUPITER GLOBAL FUNDRisk Factors■■Risk FactorsInvestors should note the following risk considerations beforemaking any decision to invest in the Funds. It should be noted thatthe risk factors set out below do not purport to be a completeexplanation of the risks involved in investing in the Funds.Prospective investors should read the entire document and consultwith their legal, tax and financial advisers before making anyinvestment decision.GeneralAn investment in the Company is suitable only for investors who arecapable of evaluating the risks and merits of such investment and whohave sufficient resources to bear any loss which might result from suchinvestment. Potential investors should consult their stockbroker, bankmanager, solicitor, accountant or their independent financial adviserbefore investing.Investment in the Company should be regarded as long term in nature.There can be no guarantee that any appreciation in the value of theCompany’s investments will occur and investors may not get back thefull value of their investment. Although it will be the policy of each Fundto diversify its investment portfolio, a Fund may at certain times holdrelatively few investments. The Fund could be subject to significantlosses if it holds a large position in a particular investment that declinesin value or is otherwise adversely affected, including default of the issuer.There can be no guarantee that the investment objectives of theCompany will be met.The Company and its Funds have limited operating histories. The pastperformance of assets managed by the Jupiter Group are not necessarilyguides to the future performance of any particular Fund.Regulatory RisksThe Company is domiciled in Luxembourg and investors should notethat all the regulatory protections provided by their local regulatoryauthorities may not apply. Investors should consult their financial or otherprofessional adviser for further information in this area.General Investment RisksIn addition to the opportunities for price gains and earnings, investmentin securities also involves risks because the prices could fall below thepurchase price paid. Factors affecting the value of securities in somemarkets and under certain situations cannot easily be determined andthe value of such investments may decline or be reduced to zero.The Company employs a risk management process that enables it tomonitor and measure at any time the risk of the positions and theircontribution to the overall risk profile of each Fund. The Company will alsoemploy, if applicable, a process for accurate and independent assessmentof the value of any OTC derivative instruments. Further information is setout under ‘Risk Management Process’ on page 46 below.Risks Related to the use of Financial Derivatives InstrumentsUnless otherwise stipulated in the relevant Information Sheet, theFunds may invest in derivative financial instruments, comprisingoptions, futures, index futures and currency forward contracts forhedging and efficient portfolio management. The risks associated withusing derivative financial instruments (whether for hedging, efficientportfolio management and investment purposes) are set out in theparagraphs titled ‘Risks Related to Investments in Equity RelatedSecurities’, ‘Options’, ‘Financial Futures Contracts’, ‘Swaps’, ‘Portfolioswaps and Participation Notes’ and ‘Possible Losses in SecuritiesOption Transactions, Financial Futures Contracts, Option Transactionson Financial Futures Contracts and Securities Index Options’ below.Funds using financial derivative instruments for investment purposesare generally associated with greater risk than Funds which usefinancial derivative instruments only for efficient portfolio managementor hedging purposes. These significant additional risks include, forexample, market counterparty risk, leverage risk, liquidity risk andoperational risk. Losses incurred as a consequence of the use offinancial derivative instruments for investment purposes may besubstantial and could lead to total capital loss for investors in theFund(s) concerned.Risks Related to Investments in Equities (including ordinary andpreference shares)Experience has shown that equities and securities of a share-likecharacter are subject to strong price fluctuations. That is why they offerthe possibility of considerable price gains, but also involve thecorresponding risks. Share prices are influenced above all by theprofits or otherwise of individual enterprises and sectors as well asmacro-economic developments and political perspectives whichdetermine the expectations of the securities markets and thus themovement of prices.Risks Related to Investments in Fixed-Interest Securities(including convertible debt securities)Price changes in fixed-interest securities are influenced predominantlyby interest rate developments in the capital markets, which in turn areinfluenced by macro-economic factors. Fixed-interest securities couldsuffer when capital market interest rates rise, while they could increasein value when capital market interest rates fall. The price changes alsodepend on the term or residual time to maturity of the fixed-interestsecurities. In general, fixed-interest securities with shorter terms haveless price risks than fixed-interest securities with longer terms.However, they generally have lower returns and, because of themore frequent due dates of the securities portfolios, involve higherre-investment costs.Risks Related to Investments in WarrantsIn addition to the above risks involved with securities and exchangerate changes, warrants carry the risk, but also the opportunity, of whatis known as leverage. This leverage is produced, for example, with callwarrants through the lower capital investment when the warrants arepurchased compared with a direct purchase of the underlying assets.The same applies for put warrants. The greater the leverage, thegreater the change of price of the warrant in the event of a change inthe prices of the underlying assets (in comparison to the subscriptionprice set forth in the option conditions). The opportunities and risks ofwarrants increase as the leverage increases. Since warrants aregenerally issued only for a limited term, it cannot be ruled out that theywill be valueless at the date of maturity if the price of the underlyingassets falls below the subscription price fixed when the call warrantswere issued or exceeds the subscription price fixed when the putwarrants were issued.Risks Related to Investments in Fixed-Interest Securities WithoutRegular Interest Payments and Zero BondsParticular attention must be paid to observing the credit worthiness andassessing the issuer of interest-bearing securities without regularinterest payments and zero bonds. In times of climbing capital marketinterest rates, it may be difficult to trade in such bonds, particularlybecause of their comparatively long term and the absence of continualinterest payments.22

THE JUPITER GLOBAL FUNDRisk Factors■■Risk FactorsRisks Related to Investments in Equity Related SecuritiesIn accordance with the investment restrictions of the Company, certainFunds may invest in equity related securities, including but not limited tofinancial derivative instruments, options, swaps, futures and forwardcontracts, warrants, convertible bonds and preference shares. Equityrelated securities may not be listed and are subject to the terms andconditions imposed by their issuers. There may be no active market inequity related securities and therefore investments in equity relatedsecurities can be illiquid. In order to meet realisation requests, theCompany relies upon the issuers of the equity related securities to quotea price to unwind any part of the equity related securities that will reflectthe market liquidity conditions and the size of the transaction. There is arisk that the issuers of equity related securities will not settle a transactiondue to a credit or liquidity problem and the relevant Funds may suffer aloss (including a total loss). Investments in equity related securities do notentitle the investors to the beneficial interest in the underlying securitiesnor to make any claim against the company issuing the securities.Fluctuations in the exchange rate between the denomination currency ofthe underlying shares and the equity related securities will affect the valueof the equity related securities, the redemption amount and the distributionamount on the equity related securities.Depositary ReceiptsInvestment into a given country may be made via direct investmentsinto that market or by depositary receipts traded on other internationalexchanges in order to benefit from increased liquidity in a particularsecurity and other advantages. A depository receipt admitted to theofficial listing on a stock exchange may be deemed an eligibletransferable security regardless of the eligibility of the market in whichthe security to which it relates normally trades.Credit and Counterparty RisksEven when the securities to be acquired are selected carefully, thecredit risk, i.e. the risk of loss through the inability of issuers to pay(issuer risk), cannot be excluded. The value of a Fund may be adverselyaffected if any of the institutions with whom the assets of the Fund areinvested or deposited suffers insolvency or other financial difficulties.The Funds may invest in derivative financial instruments, comprisingoptions, futures, index futures and currency forward contracts forhedging and efficient portfolio management, as more fully described inthe investment policy of each Fund. There is a risk that the use of suchinstruments will not achieve the goals aimed at. Also, the use of swaps,portfolio swaps and other derivative contracts entered into by privateagreements may create a counterparty risk for the Fund concerned.This risk is mitigated by the fact that the counterparties must beinstitutions subject to prudential supervision and that the counterpartyrisk on a single entity must be limited in accordance with the investmentrestrictions. The secondary market price of such derivative instrumentswill vary in accordance with the market’s perception of the creditworthiness of the issuer.In the event of failure of the counterparty the Company may only rankas an unsecured creditor in respect of sums due from the issuer orbroker in question, meaning that the Company may be unable to recoverpart or all of the assets exposed to that counterparty and any suchrecovery may be significantly delayed. Such delay or loss would be tothe detriment of the Net Asset Value of Shares in the relevant Fund.Liquidity RiskIn extreme market conditions there may be a lack of liquidity in themarket which may adversely affect the ease of disposal of assets andthe price at which the securities held by a Fund can be sold. Theabsence of reliable pricing information in a particular security held by aFund may make it difficult to assess reliably the market value of assets.Sector and/or Geographical ConcentrationFunds which specialise in investing in a particular market sector orgeographical region are likely to be more volatile than funds with abroader range of investments. This risk is greater in relation toinvestment in emerging market countries which may experiencepolitical and economic changes.Risks Related to Investment into Undervalued CompaniesFunds may invest in entities considered by the Manager to beundervalued. Although undervalued entities can be a great source forgrowth, they may also present some financial weakness and have aneconomical uncertain viability or be undergoing mergers, turnaroundsor takeovers. Investments in such entities could therefore exposesuch Funds to higher risks than investment in entities whichdemonstrate a greater seniority or more stabilised structures and solidfinancial resources.OptionsOptions are associated with particular risks which can differ inimportance, depending on the position taken:• The purchase price of a call or put option is lost on the dateof maturity.• If a call option is sold, there is a risk that the Company will no longerbe able to participate in especially strong appreciation of the asset.If put options are sold, there is a risk that the Company will beobligated to acquire assets at the exercise price, even though themarket value of these assets is significantly lower.• The value of the Company can be more strongly influenced throughthe leveraging of options than would be the case if assets wereacquired directly.Financial Futures ContractsFinancial futures contracts are associated with considerableopportunities as well as risks, because only a fraction of the relevantcontract size (initial deposit) must be paid immediately. If theexpectations of the Investment Manager are not fulfilled, the differencebetween the price at the time of conclusion and the market price mustbe borne by the Company by no later than the due date of thetransaction. The amount of the possible loss is thus not known inadvance and may exceed any collateral provided.Total Return Swaps, Portfolio swaps and Credit Default SwapsSwaps involve a particular contracting party risk in that the contractingparty may be unable to meet its payment obligations, or may do soonly partially or late. Swaps also involve a market risk arising fromfluctuations in exchange rates and interest rates.In the case of swaps which convert into foreign currency, there arealso exchange rate opportunities and risks. Moreover, these swapsare subject to what is called a transfer risk, something which alsoexists with other swaps involving cross-border transactions.Credit default swaps may trade differently from the funded securitiesof the reference entity. In adverse market conditions, the basis(difference between the spread on bonds and the spread on creditdefault swaps) can be significantly more volatile than funded securities.23

THE JUPITER GLOBAL FUNDRisk Factors■■Risk FactorsParticipation NotesParticipation notes involve a particular contracting party risk in that thecontracting party may be unable to meet its payment obligations, ormay do so only partially or late. They also involve a market risk arisingfrom fluctuations in exchange rates and interest rates.In the case of participation notes which convert into foreign currency,there are also exchange rate opportunities and risks. Moreover, theseparticipation notes are subject to what is called a transfer risk,something which also exists with other participation notes involvingcross-border transactions.Possible Losses in Securities Option Transactions, FinancialFutures Contracts, Option Transactions on Financial FuturesContracts and Securities Index OptionsSecurities option dealings, financial futures contracts and optiondealings on financial futures contracts and securities index options(option rights and warrants) are all forward exchange transactions.However, since the possible profits arising from such transactions mustbe set against high possible losses, the investor must realise that:• the time-limited rights acquired from forward exchange transactionscan collapse or suffer a reduction in value;• the amount of the possible loss is not known in advance and canexceed any collateral provided;• it may not be possible, or may only be possible at a loss, to effectdealings through which the risks from forward exchange transactionswhich have been effected are to be excluded or limited; and• in addition to the above risks, the exercising of two linked forwardexchange transactions involves additional risks which depend onthe financial futures contracts/securities index options thus createdand may result in a loss far above the original investment in theprice paid for the option right or warrant.Currency Exposure and Passive Currency HedgingEach Class of each Fund will have its own Class Currency and eachFund will have its own Base Currency. The Shares of each Class willbe issued and redeemed by reference to the Class Currencyconcerned. The assets of each Fund may, however, be invested insecurities and other investments that are not denominated in its ClassCurrency and/or Base Currency. Accordingly, the value of such assetsmay be affected favourably or unfavourably by fluctuations in currencyrates and therefore each Fund will necessarily be subject to foreignexchange risks relative to its Class Currency and/or Base Currency.In particular, a Shareholder who acquires Shares of a Fund will besubject to foreign exchange risk in respect of those assets of that Fundwhich are denominated in any currency other than the currency ofinvestment in that Fund (irrespective of whether the currency ofinvestment was also the Class Currency and/or Base Currency).A Shareholder whose assets and liabilities are predominantly inanother currency should take into account the potential risk of loss (orgain) arising from fluctuations in value between the currencydenomination of the assets of a Fund in which the Shareholder investsand the Shareholder’s own currency of investment.A Shareholder who subscribes for Shares, or requests that redemptionpayments be made, in a currency other than the Base Currency of therelevant Fund should also take into account the potential risk of lossarising from fluctuations in value between the relevant Class Currencyand/or Base Currency and the currency that the Shareholder used tosubscribe for Shares or the currency in which the Shareholderrequests that redemption payments be made.Passive currency hedging strategies may be used by the InvestmentManager, at its sole discretion, to seek to reduce the impact of adversemovements between the Class Currency and/or Base Currency of aFund and the currencies of the assets in which a Fund is invested.This may involve the use of foreign exchange transactions and/orcurrency derivatives. However, there is no guarantee that any hedgingtechniques will be employed or, if employed, that they will be effectivein managing the currency exposures to which a Fund may be subject.Each Class will be responsible for any currency hedging costsapplicable to the assets attributable to it.Exchange Rate Hedging TransactionsExchange rate hedging transactions serve to reduce exchange raterisks. As these hedging transactions only protect the Company to alimited extent to one part of the exchange rate losses, it cannot beruled out that exchange rate fluctuations can have a negative impacton the performance of the Company.Future Exchange TransactionsThe costs and possible losses arising in future exchange transactionsthrough the purchase of the corresponding option rights and warrantsreduce the operating profit of the Company. In this respect the notesregarding securities option transactions and financial futures contractsalso apply here.Lending SecuritiesThe loan of securities involves a particular contracting party risk in thatthe contracting party may be unable to (i) meet its payment obligations,or may do so only partially or late; and/or (ii) return the securities lentor to return them in time; and/or (iii) provide additional collateral whenso required. In the event that the borrowers of securities fail to fulfiltheir settlement obligations, the Company will suffer losses if theproceeds from realisation of the collateral possessed by the Companyare less than the value of the securities lent.Risk Reduction and Risk Avoidance MeasuresThe Investment Manager uses modern methods of analysis tooptimise the opportunity/risk ratio of an investment in securities.Through shifting and temporarily higher cash balances, the portion ofthe Company not invested in securities serves the objectives of theinvestment policy in that it reduces the effect of possible price falls insecurities investments. Nevertheless, no assurance can be given thatthe objectives of the investment policy will be reached.Emerging and Less Developed MarketsIn emerging and less developed markets, the legal, judicial andregulatory infrastructure is still developing but there is much legaluncertainty both for local market participants and their overseascounterparts. Some markets may carry higher risks for investors whoshould therefore ensure that, before investing, they understand therisks involved and are satisfied that an investment is suitable as partof their portfolio. Investments in emerging and less developed marketsshould be made only by sophisticated investors or professionals whohave independent knowledge of the relevant markets, are able toconsider and weigh the various risks presented by such investments,and have the financial resources necessary to bear the substantial riskof loss of investment in such investments.24

THE JUPITER GLOBAL FUNDRisk Factors■■Risk FactorsEmerging and Less Developed Markets continuedExamples of economies that the Investment Manager currentlyconsiders to be emerging market economies include, without limitation,countries in Asia, Latin America, the Middle East, southern andeastern Europe, the region formerly known as the USSR, and Africa.These include, again without limitation: Brazil, Chile, China, Colombia,Czech Republic, Egypt, Hungary, India, Indonesia, Korea, Malaysia,Mexico, Morocco, Peru, Philippines, Poland, Russia, South Africa,Taiwan, Thailand, Turkey, Sri Lanka and Pakistan.Political and Economic Risk FactorsThere is in some emerging market countries, in which certain Fundsmay invest, a higher than usual risk of nationalisation, expropriation orconfiscatory taxation, any of which might have an adverse effect onthe value of investments in those countries. Emerging market countriesmay also be subject to higher than usual risks of political changes,government regulation, social instability or diplomatic developments(including war) which could adversely affect the economies of therelevant countries and thus the value of investments in those countries.The economics of many emerging market countries can be heavilydependent on international trade and, accordingly, have been andmay continue to be adversely affected by trade barriers, managedadjustments on relative currency values and other protectionistmeasures imposed or negotiated by the countries with which theytrade and international economic developments generally.Foreign Investment RestrictionsThere are, in certain of the countries in which investments of certainFunds are proposed, restrictions on investment by foreign investors.In addition, the ability of foreign investors, such as the Fund, toparticipate in privatisations in certain foreign countries may be limitedby local law, or the terms on which the Fund may be permitted toparticipate may be less advantageous than those for local investors.These factors and any restrictions introduced in the future could limitthe availability to the Fund of attractive investment opportunities.Settlement and Custodial RiskSettlement and safe custody of securities in certain emerging countriesinvolve certain risks and considerations which do not normally applywhen settling transactions and providing safe custody services inmore developed countries. The Custodian will not have absoluteliability for the acts, omissions or creditworthiness of local agents,depositaries, registrars or brokers involved in the safekeeping or thesettlement of the assets of the Company.TaxationAny change in the Company’s tax status or in taxation legislation couldaffect the value of the investments held by and the performance of theCompany. Representations in this document concerning the taxationof investors in Shares are based upon current tax law and practicewhich is subject to change.The Company may from time to time purchase investments that willsubject the Company to withholding taxes or exchange controls invarious jurisdictions. In the event that withholding taxes or exchangecontrols are imposed with respect to any of the Company’sinvestments, the effect generally reduces the income or proceedsreceived by the Company on its investments.Foreign Account Tax Compliance Act (‘FATCA’)The Hiring Incentives to Restore Employment Act (the ‘Hire Act’) wassigned into US law in March 2010. It includes provisions generallyknown as FATCA. The intention of these is that details of US investorsholding assets outside the US will be reported by financial institutionsto the IRS, as a safeguard against US tax evasion. As a result of theHire Act, and to discourage non-US financial institutions from stayingoutside this regime, all US securities held by a financial institution thatdoes not enter and comply with the regime will be subject to a US taxwithholding of 30% on gross sales proceeds as well as income. Thisregime will be effective from 1 January 2014. The basic terms of theHire Act currently appear to include the Company as a ‘FinancialInstitution’, such that in order to comply, the Company may require allShareholders to provide mandatory documentary evidence of their taxresidence. However, the Hire Act grants the US Treasury Secretaryextensive powers to relax or waive the requirements where aninstitution is deemed to pose a low risk of being used for the purposesof US tax evasion. The detailed regulations that are expected to definehow widely those powers will in fact be exercised have not yet beenfinalised, and accordingly the Company cannot at this time accuratelyassess the extent of the requirements that FATCA may place upon it.Smaller CompaniesThe Company may invest in companies with a market capitalisation ofless than €250 million. As smaller companies do not have the financialstrength, diversity and resources of larger companies, they may find itmore difficult to operate in periods of economic slowdown or recession.In addition, the relatively small capitalisation of such companies couldmake the market in their shares less liquid and, as a consequence,their share price more volatile than investments in larger companies.Conflicts of InterestThe Directors, the Investment Manager, the Distributors, theManagement Company, the Administrator and the Custodian and theirrespective affiliates, officers, directors and shareholders, employeesand agents (collectively the ‘Parties’) are or may be involved in otherfinancial, investment and professional activities which may onoccasion cause a conflict of interest with the management of theCompany and/or their respective roles with respect to the Company.These activities may include managing or advising other investmentfunds, purchases and sales of securities, investment managementservices, brokerage services, valuation of unlisted securities (incircumstances in which fees may increase as the value of assetsincreases) and serving as directors, officers, advisers or agents ofother funds or companies, including funds or companies in which theCompany may invest.In particular, the Investment Manager may be involved in advising ormanaging other investment funds which have similar or overlappinginvestment objectives to or with the Company or Funds. Each of theParties will use its reasonable endeavours to ensure that theperformance of their respective duties will not be impaired by any suchinvolvement they may have and that any conflicts which may arise willbe resolved fairly and in the best interests of Shareholders. TheInvestment Manager will endeavour to ensure a fair allocation ofinvestments among each of its clients.Suspension of Share DealingsInvestors are reminded that in certain circumstances their right toredeem Shares may be limited (see page 12 under ‘Limitationon Redemption’).Fees and ExpensesParticular attention should be paid to the level of fees and expensescharged as their proportionate effect may be determined by Fund size.25

THE JUPITER GLOBAL FUNDRisk Factors■■Risk FactorsSector and/or Geographical ConcentrationFunds which specialise in investing in a particular market sector orgeographical region are likely to be more volatile than funds with abroader range of investments. This risk is greater in relation toinvestment in emerging market countries which may experiencepolitical and economic changes.Performance Fee RiskThe existence of a performance fee on a particular Fund has thebenefit that it aligns the Investment Manager’s interests more with thatof the Shareholders. However, because part of the InvestmentManager’s remuneration is calculated by reference to the performanceof the relevant Fund, there is the possibility that the InvestmentManager will be tempted to make investments that are riskier andmore speculative than if the remuneration was linked purely to the sizeof that Fund.Segregation of Assets and Liabilities between ClassesThe Company is composed of the different Funds listed in the sectionentitled ‘Key Features’, each Fund corresponding to a distinct part ofthe assets and liabilities of the Company. Whilst each Fund maysegregate the assets and liabilities attributable to each Class itmaintains in its books and records, any third party creditor will be acreditor of the relevant Fund. For example, if a particular Fund defaultsunder any liability owed to one or more third parties where the relevantliability is attributable to a particular Class, such third party or thirdparties will have recourse to all the assets of the relevant Fund (i.e. theassets attributable to all Classes, and not just the assets of the Classto which the relevant liability is attributable in the books and records ofthe Fund) to satisfy such liability or liabilities.Early Termination of a FundThe Directors may terminate a Fund in accordance with the provisionsset forth under section entitled ‘Merger, Liquidation and Reorganizationof Funds’. In the event of early termination, the Fund concerned wouldhave to distribute to the Shareholders their pro rata interest in theassets of that Fund. It is possible that at the time of such sale ordistribution, certain investments held by the Fund concerned may beworth less than the initial cost of such investments, thereby resultingin a substantial loss to the Shareholders concerned.Risks Related to Repurchase TransactionsIn relation to repurchase transactions and sale with right of repurchasetransactions in which a Fund acts as seller and in the event of thefailure of the counterparty to which securities have been sold, investorsshould be aware that (A) there is the risk that the value of the securitiessold to the counterparty is higher than the cash originally received,whether because of a market appreciation of the value of saidsecurities or an improvement in the credit rating of their issuer; that (B)(i) locking investment positions in transactions of excessive size orduration, (ii) delays in recovering, at maturity, the securities sold, mayrestrict the ability of a Fund to meet delivery obligations under securitysales or payment obligations arising from redemption requests.Investment in RussiaIf investment in Russia is authorised in the relevant Information Sheet,certain Funds may invest in securities listed on the RTS StockExchange, on the Moscow Interbank Currency Exchange in Russiaand on any other Regulated Markets in Russia which would further berecognised as such by the CSSF.Investments in Russia are currently subject to certain heightened riskswith regard to the ownership and custody of securities. In Russiashareholdings are evidenced by entries in the books of a company orits registrar (which is neither an agent nor responsible to theCustodian). No certificates representing shareholdings in Russiancompanies will be held by the Custodian or any of its localcorrespondents or in an effective central depository system. As aresult of this system and the lack of effective state regulation andenforcement, the Funds could lose its registration and ownership ofRussian securities through fraud, negligence or even mere oversight.However, in recognition of such risks, the Russian correspondent ofthe Custodian is following increased ‘due diligence’ procedures. Thecorrespondent has entered into agreements with Russian companyregistrars and will only permit investment in those companies thathave adequate registrar procedures in place. In addition, thesettlement risk is minimised as the correspondent will not release cashuntil registrar extracts have been received and checked. In addition,Russian debt securities have an increased custodial risk associatedwith them as such securities are, in accordance with market practice,held in custody with Russian institutions which may not have adequateinsurance coverage to cover loss due to theft, destruction or default.Risks related to investment in Underlying FundsThe Investment Manager may not always be provided with detailedinformation regarding all of the investments made by UnderlyingFunds because certain of this information may be consideredproprietary information by the managers of those Underlying Funds.This potential lack of access to information may make it more difficultfor the Investment Manager to select, allocate among and evaluateindividual fund managers.Despite the due diligence procedures which will be used to select andmonitor the individual Underlying Funds in which the assets of theFunds will be invested, there can be no assurance that pastperformance information in relation thereto will be indicative of howsuch investments will perform (either in terms of profitability orcorrelation) in the future.Although the Investment Manager will seek to monitor theinvestments and trading activities of the Underlying Funds in whichthe Fund has invested, investment decisions will normally be madeindependently at the level of such Underlying Funds and it is possiblethat some managers will take positions in the same security or inissues of the same industry or country at the same time.Consequently, the possibility also exists that one Underlying Fundmay purchase an instrument at about the same time as anotherUnderlying Fund decides to sell it. There can be no guarantee thatthe selection of the managers will actually result in a diversificationof investment styles and that the positions taken by the UnderlyingFunds will always be consistent.Potential investors must be aware that Underlying Funds will besubject to management fees and other expenses. As a result,Shareholders may suffer management fees and expenses incurredboth at the level of the Company and the Underlying Funds in whichthe Company invests. There may also be a duplication of subscriptionand/or redemption fees.26

THE JUPITER GLOBAL FUNDRisk Factors■■Risk FactorsRisks related to commoditiesCommodities, to which some of the Funds may be exposed throughthe use of financial derivative instruments, are assets that havetangible properties, such as oil, metals, and agricultural products. Aninvestment in commodities may not be suitable for all investors.Commodities and commodity-linked securities and derivatives may besubject to heightened risks and may be affected by overall marketmovements, changes in interest rates, and other factors such asweather, disease, embargoes, and international economic, regulatoryand political developments, as well as the trading activity of speculatorsand arbitrageurs in the underlying. The commodity markets (includingthe markets for commodity-linked securities and derivatives) may besubject to a degree of volatility that may prove higher than in equity orbond markets due to their sensitivity to the development of commodityprices and their substantial exposure to emerging markets.Risks related to the European sovereign risks crisisThe Funds invest in equity or equity-related securities whereby theissuers have their registered office or exercise a predominant part oftheir economic activities in Europe. In light of the current fiscalconditions and concerns in relation to the sovereign risk of certainEuropean countries, there is an increased amount of volatility, liquidity,price and foreign exchange risk associated with investments inEurope. The performance of the Funds could deteriorate significantlyshould an adverse credit event occur such as, but not limited to, thedowngrade of the sovereign credit rating of a European country orwithdrawal from the Euro currency by one or more member states ofthe European Monetary Union.27

THE JUPITER GLOBAL FUNDTaxation■■TaxationThe following information is based on the law and practice currently inforce in Luxembourg. The information is not exhaustive and, if potentialinvestors are in any doubt as to their taxation position, they shouldconsult their professional adviser. Investors should note that tax lawand interpretation can change and that, in particular, the levels andbases of, and reliefs from, taxation may change and that changes mayalter the benefits of investment in the Company.The CompanyThe Company is not subject to any Luxembourg tax on profits orincome. However, as at the date of publication of this Prospectus, theCompany is liable in Luxembourg to a taxe d’abonnement of 0.05%per annum of its NAV, such tax being payable quarterly on the basisof the value of the net assets of the relevant Fund at the end of therelevant calendar quarter. The taxe d’abonnement is levied at a rate of0.01% per annum on Funds or Classes reserved to InstitutionalInvestors. No such tax will be payable in respect of the portion of theassets of the Fund invested in other Luxembourg collective investmentundertakings. No Stamp Duty or other tax is payable in Luxembourgon the issue of Shares.No Luxembourg tax is payable on the realised or unrealised capitalappreciation of the assets of the Company. Income received from theCompany on its investments may be subject to non-recoverablewithholding and other taxes in the countries of origin. Neither theInvestment Manager nor the Custodian will obtain receipts for suchtaxes either for individual or for all Shareholders. However, theCompany may benefit from certain double-tax treaties and be able inthese cases to recover the withholding taxes in the country of origin.The Directors intend that the Company should so conduct its affairsthat it will be resident in Luxembourg for tax purposes.Taxation of Shareholders in LuxembourgUnder current Luxembourg legislation, Shareholders may be subjectto capital gains, income, inheritance or other taxes dependent ontheir individual circumstances. Shareholders should consult theirown professional adviser if they are in any doubt as to their owntaxation position.i) Luxembourg residents:ii)Shareholders resident in Luxembourg will be liable to tax oncapital gains on the disposal of any holding in the Company ifthey have held more than 10% of the share capital of theCompany at any time during the five years preceding thedisposal (important participation). Shareholders holding lessthan 10% of the share capital of the Company at any time duringthe five years preceding the disposal will not be liable to tax oncapital gains unless they dispose of their holding within sixmonths of the date of acquisition. Dividend income will be subjectto income tax in the hands of a Luxembourg resident Shareholder.Shareholders not resident in Luxembourg:The information in this section is subject to and qualified by theEU tax considerations set forth below.A disposal of a holding in the Company will constitute a disposalfor the purposes of Luxembourg tax on capital gains. Luxembourgtax on capital gains is generally overruled by applicabledouble-tax treaties however, Shareholders who are in any doubtover their position are advised to consult their own professionaladviser. The tax treaty between Luxembourg and the UKexempts UK resident Shareholders from Luxembourg tax oncapital gains.Subject to the EU provisions detailed below, dividends received byLuxembourg non-residents are not subject to Luxembourg tax.There is no withholding tax on the distributions paid by the Companywhether or not the Shareholder is resident in Luxembourg.EU Tax Considerations for Individuals Resident in the EU or inCertain Third Countries or Dependent or Associated TerritoriesThe EU Council Directive 2003/48/EC on taxation of savings incomein the form of interest payments (the ‘Directive’) provides that from1 July 2005, paying agents established in a member state of the EU orcertain dependent or associated territories of member states whomake savings income payments to individuals resident in anothermember state or to residual entities within the sense of the Directive(and depending on the jurisdiction of establishment of the payingagent, possibly also to individuals and residual entities within thesense of the Directive resident in certain dependent or associatedterritories of member states) will be obliged, depending on thejurisdiction of the payment agent either to report details of the paymentand payee to fiscal authorities or to withhold tax from it. A furtheroption allowing an EU resident to submit an exemption certificate isalso available. The Luxembourg law of 21 June 2005 (the ‘2005 Law’)has implemented the Directive into national law.Although exchange of information is the ultimate objective of theDirective, Luxembourg, Austria and certain dependent or associatedterritories of EU Member states (such as Jersey and Guernsey) haveopted to apply withholding tax during a transitional period. Underthese arrangements, withholding tax will apply when a Luxembourgpaying agent makes distributions from and redemptions of shares incertain funds and where the beneficiary of these proceeds falls withinthe scope of the Directive. However, an individual may specificallyrequire to be brought within the Directive exchange of informationregime which would result in no withholding tax being applied butinstead information regarding the distribution being provided to thefiscal authority in his country of residence.Dividends distributed by a Fund of the Company will be subject tothese obligations if more than 15% of such Fund’s assets are investedin debt claims as defined in the 2005 Law and proceeds realised byShareholders on the redemption or sale of Shares in a Fund will besubject to the Directive or 2005 Law if more than 25% of such Fund’sassets are invested in debt claims. The applicable withholding tax is ata rate of 35% since 1 July 2011.The Company and the Administrator reserve the right to reject anyapplication for Shares if the information provided by any prospectiveinvestor does not meet the standards required by the 2005 Law as aresult of the Directive.GeneralThe above statements regarding taxation are based on advicereceived by the Company regarding the law and practice in force atthe date of this document. Prospective investors should be aware thatlevels and bases of taxation are subject to change and that the valueof any relief from taxation depends upon the individual circumstancesof the tax payer.28

THE JUPITER GLOBAL FUNDTaxation■■TaxationGeneral continuedIt is expected that Shareholders in the Company will be resident fortax purposes in many different countries. Consequently, no attemptis made in the Prospectus to summarise the taxation consequencesfor each investor. These consequences will vary in accordance withthe law and practice currently in force in a Shareholder’s country ofcitizenship, residence, domicile or incorporation and with hispersonal circumstances.Shareholders should ascertain from their professional advisers theconsequences to them of acquiring, holding, redeeming, transferring,selling or converting Shares under the relevant laws of thejurisdictions to which they are subject, including the tax consequencesand any exchange control requirement. These consequences,including the availability of and the value of tax relief to Shareholders,will vary with the law and practice of the Shareholder’s country ofcitizenship, residence, domicile or incorporation and with theirpersonal circumstances.29

THE JUPITER GLOBAL FUNDGeneral Information■■General InformationCorporate InformationThe Company is an open-ended investment company which qualifiesas an Undertaking for Collective Investment in Transferable Securities(‘UCITS’) under Part I of the Law. It was incorporated in Luxembourgas a Société d’Investissement à Capital Variable (‘SICAV’) on22 September 2005 for an unlimited duration. Its Articles werepublished in the Mémorial, Recueil des Sociétés et Associations of11 October 2005. The Articles were amended for the last time on14 November 2011. It is registered with the Luxembourg Register ofCommerce under number B 110.737.The Shares are of no par value. The capital of the Company is equal toits net assets expressed in Euro and the minimum capital is €1,250,000.Management CompanyThe Directors have designated RBS (Luxembourg) S.A. as ManagementCompany of the Company to perform investment management,administration and marketing functions for the Company.The Management Company was incorporated in the form of a sociétéanonyme on 10 November 2004 for an unlimited duration. As atSeptember 29, 2006 it has a subscribed capital of €10,000,000 dividedinto ten thousand (10,000) shares, fully paid-up. Upon incorporation,the articles of incorporation of the Management Company werepublished in the Mémorial, Recueil des Sociétés et Associations, n° C1245 on 6 December 2004 and were last modified on 29 September2006 as published in the Mémorial, Recueil des Sociétés etAssociations, number C 2133 on 15 November 2006. RBS(Luxembourg) S.A. complies with the conditions set out in Chapter 15of the Law, and is therefore authorised as a management companymanaging UCITS governed by the UCITS Directive.As of the date of this Prospectus, the Management Company’s Board ofDirectors consists of:• Kevin Brown (Chairman)• Antonio Thomas• Revel Wood• Michael Vareika• Oezguel Guelbey• Henry Kelly• Lorna Cassidy• Jonathan CareyMessrs Antonio Thomas, Antonino Borgesano and Pall Eyjolfsson havealso been appointed as conducting officers, as referred to in article 102of the Law and CSSF circular 03/108.The Management Company has been permitted by the Company todelegate its investment management functions to investment managersauthorised by the Company, comprising the Investment Manager.In the context of its administration functions, the ManagementCompany has been permitted by the Company to delegate itsadministration functions to third parties authorised by the Company,comprising the Administrator.In the context of its marketing function, the Management Company mayenter into agreements with Distributors pursuant to which the Distributorsagree to act as intermediaries or nominees for investors subscribing forShares through their facilities.The Management Company will monitor on a continual basis theactivities of the third parties to which it has delegated functions. Theagreements entered into between the Management Company and therelevant third parties provide that the Management Company can giveat any time further instructions to such third parties, and that it canwithdraw their mandate with immediate effect if this is in the interest ofthe Shareholders. The Management Company’s liability towards theCompany is not affected by the fact that it has delegated certainfunctions to third parties.The Management Company Services Agreement made between theCompany and the Management Company comprises provisionspursuant to which, in the absence of fraud, negligence or wilful defaulton the part of the Management Company, the Company accepts toindemnify the Management Company for liabilities incurred by theManagement Company while taking any action properly in accordancewith the Management Company Services Agreement.The Management Company is also acting as the management companyfor other investment funds; the list of these other investment funds isavailable upon request.The Custodian and Paying Agent in LuxembourgThe Custodian is responsible for the safekeeping of cash and securitiesdeposits in accordance with the terms and conditions of the CustodianAgreement. In particular, and upon the instructions of the Company, itwill execute all financial and foreign exchange transactions and provideall banking facilities in accordance with the terms and conditions of theCustodian Agreement. The Custodian will further, in accordance withthe Law:• ensure that the sale, issue, redemption and cancellation of Shareseffected by the Company or on its behalf are carried out inaccordance with the Law and the Articles;• ensure that in all transactions involving the assets of the Company,any consideration is remitted to it within the customary settlementdates; and• ensure that the income of the Company is applied in accordancewith the Articles.The Custodian is responsible for the safekeeping of the subscriptionmonies on their receipt from the Paying Agent and, following theinvestment of subscription monies, is responsible for the supervision ofthe assets of the Company which are held to the order of and registeredin the name of the Company or in the name or to the order of theCustodian on the Company’s behalf.Assets held directly with the Custodian will be held in a separate clientaccount and will be separately designated in the books of theCustodian as belonging to the Company. Assets other than cash,which are so segregated, will be unavailable to the creditors of theCustodian in the event of its bankruptcy or insolvency. Assetsdeposited as margin and cash need not be segregated and maybecome available to the creditors of brokers in case of bankruptcy orsimilar events.The Custodian has no decision-making discretion relating to theCompany’s investments. The Custodian is a service provider to theCompany and is not responsible for the preparation of this Prospectusor the activities of the Company and therefore accepts no responsibilityfor the accuracy of any information contained in this Prospectus or thevalidity of the structure and investments of the Company.30

THE JUPITER GLOBAL FUNDGeneral Information■■General InformationThe Custodian and Paying Agent in Luxembourg continuedThe Custodian may appoint sub-custodians, agents and delegates(‘Correspondents’) to hold the assets of the Company. The liability ofthe Custodian shall not be affected by the fact that it has entrusted allor some of a Fund’s assets in its safekeeping to such Correspondents.The Custodian will exercise care and diligence in choosing andappointing the Correspondents so as to ensure that eachCorrespondent has and maintains the expertise, competence and willmaintain an appropriate level of supervision over any Correspondentand will make appropriate enquiries periodically to confirm that theobligations of the Correspondent continue to be competentlydischarged. The fees and other remuneration of any Correspondentappointed by the Custodian shall be paid by the Company.In respect of any losses to the Company arising from anyCorrespondent, including losses resulting from the fraud, negligenceor wilful default of any Correspondent, the Custodian shall, besidesothers, and without prejudice to its liability in relation to its general dutyof supervision of assets of the Company, use its reasonableendeavours to exercise such rights as are available to it in the localmarket against the relevant Correspondent and account to theCompany for any recovery, and in the case of a liquidation, bankruptcyor insolvency of any Correspondent, the Custodian will use allreasonable endeavours to recover any securities or other propertyheld and to recover any losses suffered by the Company as a directconsequence of such liquidation, bankruptcy or insolvency.The rights and duties of the Custodian are governed by a CustodianAgreement which may be terminated by the Company or the Custodianon 6 months’ notice. However, on termination, the Custodian shallcontinue to act as Custodian pending replacement within two monthsand until the assets of the Company have been transferred to thesuccessor custodian. The fees and expenses payable to the Custodianare described under ‘Charges and Expenses’.As the Company’s Paying Agent HSBC Securities Services(Luxembourg) S.A. is responsible for the payment of distributions, ifany, and of the redemption proceeds to the Shareholders.Investment ManagerThe Management Company has delegated investment managementfunctions to the Investment Manager.The Investment Manager shall manage the investments of the Fundsin accordance with stated investment objectives and restrictions. Theterms of the appointment of the Investment Manager are specified inthe Investment Management Agreement.The Investment Manager may, in its discretion, purchase and sellsecurities through dealers who provide research, statistical and otherinformation to the Investment Manager. Such supplemental informationreceived from a dealer is in addition to the services required to beperformed by the Investment Manager and the expenses which theInvestment Manager incurs while providing advisory services to theCompany will not necessarily be reduced as a result of the receipt ofsuch information.The Investment Manager is authorised and regulated by the FinancialServices Authority (‘FSA’) in the UK.Background to the Jupiter GroupThe Investment Manager is a wholly owned subsidiary of the JupiterGroup, whose ultimate parent is Jupiter Fund Management plc, acompany incorporated in England and Wales. The Jupiter Group wasestablished in its current form in 1985 and has since built a reputationfor asset management with an emphasis on performance and clientservice.The Jupiter Group is an investment management business focused ongenerating investment out-performance across its range of investmentcapabilities, which include UK, European and emerging marketsequities, specialist equities (such as financial sector equities) and fundof funds products. Jupiter’s core strength in equity investmentmanagement is complemented by capabilities in fixed income, hedgeand absolute return funds.AdministratorThe Management Company has delegated its administration functionsto the Administrator.The Administrator is, inter alia, responsible for keeping the accounts ofthe Company and for calculating the Net Asset Value. It also acts asdomiciliary agent and registrar and transfer agent.The Administrator has no decision-making discretion relating to theCompany’s investments. The Administrator is a service provider to theCompany and is not responsible for the preparation of this Prospectusor the activities of the Company and therefore accepts no responsibilityfor the accuracy of any information contained in this Prospectus or thevalidity of the structure and investments of the Company.Types of SharesThe Company is offering Shares in different Classes as furtherdetailed in the Information Sheet with respect to each Fund. Therelevant Information Sheet indicates the Base Currency and the Classcurrency in which such Shares are offered for subscription andredemption. The Shares being offered hereby may be subject todifferent sales charges, management fees and other fees. Investorsshould refer to the relevant Information Sheet for confirmation as towhich Classes a Fund offers.Shares will be issued in registered form only. The ownership of Sharesis evidenced by an entry in the share register. Following initialapplication, each Shareholder will be advised of a Personal AccountNumber and provided with an annual statement of account by theAdministrator. The Personal Account Number should be quoted in allfurther communication with the Administrator. Non-certificated Sharesenable Shareholders to request conversions and redemptions on anyValuation Day without delay.Shares may be made available through, but not limited to theAdministrator or the Distributors as defined in the ‘Definitions’ sectionof this Prospectus.All Shares must be fully paid-up; they are of no par value and carry nopreferential or pre-emptive rights. Each Share, whichever Fund andClass it belongs to, is entitled to one vote at any general meeting ofShareholders, in compliance with Luxembourg law and the Articles.31

THE JUPITER GLOBAL FUNDGeneral Information■■General InformationTypes of Shares continuedFractional registered Shares are issued to a one thousandth of aShare. Such fractional Shares shall not be entitled to vote but shall beentitled to a participation in the net results and in the proceeds ofliquidation attributable to the relevant Class of Shares in the relevantFund on a pro rata basis. Shareholders should note that fractionalShares may not currently be held within uncertificated accounts withEuroclear or Clearstream.Overseas Investors and Restricted ShareholdersThe Directors may restrict the ownership of Shares by any person, firmor corporation where such ownership would be in breach of anyregulatory or legal requirement or may affect the tax status of theCompany. Any restrictions applicable to a particular Fund or Class shallbe specified in the relevant Information Sheet for such Fund or Class.Any person who is holding Shares in contravention of the restrictionsset out above or, by virtue of his holding, is in breach of the laws andregulations of any competent jurisdiction or whose holding could, inthe opinion of the Directors, cause the Company to incur any liabilityto taxation or to suffer any pecuniary disadvantage which any or allof them might not otherwise have incurred or sustained or otherwisein circumstances which the Directors believe might be prejudicial tothe interests of the Shareholders, shall indemnify the Company, theManagement Company, the Investment Manager, the Custodian, theAdministrator and Shareholders for any loss suffered by it or themas a result of such person or persons acquiring or holding Shares inthe Company.The Directors have power under the Articles to compulsorily redeemand/or cancel any Shares held or beneficially owned in contravention ofany restrictions imposed by them or in breach of any law or regulation.None of the Company, the Investment Manager, the Distributor, theManagement Company, the Administrator or the Custodian or any oftheir respective directors, officers, employees or agents will beresponsible or liable for the authenticity of instructions from Shareholdersreasonably believed to be genuine and shall not be liable for any losses,costs or expenses arising out of or in conjunction with any unauthorisedor fraudulent instructions. Each of the Distributors and the Administratorshall, however, employ reasonable procedures to confirm thatinstructions are genuine.Accounting Year, Reports and AccountsThe accounting year of the Company ends on 30 September of eachyear and accounts were published for the first time in respect of thefinancial period ended 30 September 2006.Within four months of the close of each financial year, the Companywill prepare an annual report providing information on the assets of theCompany and each individual Fund giving details of their managementand the results achieved. Such report will be audited by the approvedstatutory auditor (réviseur d’entreprises agréé) of the Company.The Company undertakes that the accounting of the Company shall atany time be in compliance with the generally accepted accountingprinciples (‘GAAP’) in Luxembourg.Within two months of the close of the first half of each financial year,the Company will also prepare a semi-annual report providinginformation on the assets of the Company and each individual Fundand their management during the corresponding half year.These reports will be available to Shareholders at the registered officeof the Company, the Custodian and from every Paying Agent andDistributor and also from www.jupiteronline.com.Meetings of ShareholdersThe annual general meeting of Shareholders will be held at 10.00am(Luxembourg time) on the second Friday in the month of January, atthe registered office of the Company or such location as shall benotified by the Company Secretary in the notice of that meeting. Ifsuch a day is not a Business Day, the annual general meeting shall beheld on the next following Business Day. Notices of general meetings,including of general meeting of Shareholders in one Class, are givenin accordance with Luxembourg law and if specified in the Articles orlegally required, by publication in the Mémorial C, Recueil des Sociétéset Associations and in a Luxembourg newspaper and in such othernewspapers as the Directors may from time to time determine. Noticeswill specify the place and time of the general meeting, the conditionsof admission, the agenda, the quorum and the voting requirementsand will be given in accordance with all applicable laws. Therequirements as to attendance, the quorum and majorities at allgeneral meetings will be those laid down in the Articles andLuxembourg law.Charges and ExpensesThe Company shall pay out of the assets of the Funds all expensespayable by the relevant Funds which shall include but not be limited toformation expenses, fees payable to the Management Company andthe Administrator, the Investment Manager (as detailed hereafter)fees and expenses payable to its auditor, Custodian and itscorrespondents, any Paying Agent or Distributor and permanentrepresentatives in places of registration, as well as any other agentemployed by the Company, the remuneration of the Directors (if any),their insurance coverage, and reasonable travelling costs and out-ofpocketexpenses in connection with board meetings, fees andexpenses for legal and auditing services, any fees and expensesinvolved in registering and maintaining the registration of the Fundwith any governmental agencies or stock exchanges in the GrandDuchy of Luxembourg and in any other country, reporting andpublishing expenses, including the costs of preparing, printing,advertising and distributing prospectuses, explanatory memoranda,periodical reports or registration statements, and the costs of anyreports to Shareholders, the costs of preparation and filing of any taxor other reports as may be required from time to time whether withrespect to the operations of the Company or one or more of itsShareholders, all taxes, duties, governmental and similar charges,and all other operating expenses including the cost of buying andselling assets, interest, bank charges and brokerage, postage,telephone, facsimile and telex. The Company may accrueadministrative and other expenses of a regular or recurring naturebased on an estimated amount rateably for yearly or other periods.Expenses shall, in the first instance, be applied against any income inthe relevant Fund.For so long as the Company and any of the Funds remain authorisedby the SFC in Hong Kong, the Company has undertaken that nomarketing or advertising expenses will be paid by the Company inrespect of those Funds which are registered for distribution inHong Kong from time to time.32

THE JUPITER GLOBAL FUNDGeneral Information■■General InformationCharges and Expenses continuedCharges relating to the creation of any new Fund shall be amortised inthat Fund’s accounts over a period not exceeding five years followingthe relevant new Fund’s launch date. Any newly created Fund shallnot bear any pro rata share of the costs and expenses incurred inconnection with either the formation of the Company or the launch ofany other Funds. Despite the ability to charge such expenses to theCompany, all charges and expenses incurred in its originalincorporation were borne by the Investment Manager.Administration FeeThe Administrator shall be entitled to receive an administration fee fromthe Company in accordance with market practice in Luxembourg. Thisfee will be calculated on the basis of the Net Asset Value as of eachValuation Day of any given Fund.Custodian FeeSimilarly, the Custodian shall be entitled to receive a Custodian’s feefrom the Company in accordance with market practice in Luxembourg.This fee will be calculated on the basis of the Net Asset Value as ofeach Valuation Day of any given Fund together with certain transactioncharges based on the value of assets transferred and the numberof transactions.Management Company FeeThe Management Company shall be entitled for the provision of themanagement company services rendered to the Company, to receive afee of up to 0.07% per annum based on the net assets attributable toeach Fund with an overall minimum annual fee of €8,500 per Fund.Investment Manager FeesThe Investment Manager is entitled to an Initial Charge calculated onthe Subscription Price as specified in the relevant Information Sheet ofa Fund. Any Initial Charge imposed shall be deducted from the amountsubscribed and the balance shall be applied in paying for the Sharessubscribed. Such Initial Charge may, however, be waived or reduced atthe absolute discretion of the Investment Manager. The InvestmentManager may pay the Initial Charge to intermediaries or Distributors ofthe Shares.The Investment Manager shall be entitled to receive a management feein relation to each Class of each Fund as specified in the relevantInformation Sheet. If the management fee is expressed as a maximumfee, the fee actually charged will be published in the annual andsemi-annual reports. Such fee shall be calculated and accrued on adaily basis as at each Valuation Point and shall be payable monthly inarrears. The Investment Manager shall be entitled to reimbursement bythe Company of all reasonable out-of-pocket expenses incurred by it.The Company shall bear the cost of any value added tax applicable toany fees or other amounts payable to or by the Investment Manager inthe performance of its duties.The Investment Manager may also become entitled to a performancefee (‘Performance Fee’) calculated by reference to the out-performanceof the Net Asset Value per Share in any given Class over the total returnof the relevant Benchmark for that Class over the course of aPerformance Period (as defined below).With respect to each Class subject to a Performance Fee, the‘Performance Period’ will commence on the date of first issue of Sharesof that Class and end on 30 September following their issue. Thereafter,the Performance Period will correspond to the Company’s accountingperiod ending on 30 September in each year.If the Investment Management Agreement is terminated or a Class iswound-up or otherwise ceases to be a Class of the Company, thePerformance Period with respect to that Class or Classes, as the casemay be, will end on the date of such termination, winding-up or dateupon which the Class ceases to be a Class of the Company. Thetermination of the Investment Management Agreement will have noeffect on the High Watermark.Performance Fee CalculationThe calculation of the Performance Fee, where applicable, may beexpressed as follows:PF = (A x (B - C - D)) x (E x F)Where:A = the percentage of the Performance Fee in respect of each Classas specified in the relevant Information Sheet for each Fund;B = the percentage total return of the Net Asset Value per Share(having added to this the amount of any dividends per Share paidor payable and any accrual for unpaid Performance Fees duringthe Performance Period) in the Class from the first Valuation Pointin the Performance Period to the last Valuation Point in thePerformance Period;C = the cumulative percentage shortfall, if any, carried forward fromthe previous Performance Period(s), being the ‘High Watermark’;D = the percentage total return of the Benchmark for the relevantClass from the first Valuation Point in the Performance Period tothe last Valuation Point in the Performance Period;E = the Net Asset Value per Share in the Class (having added to thisthe amount of any dividends per Share paid or payable and anyaccrual for unpaid Performance Fees during the PerformancePeriod) on the last Valuation Day of the Performance Period; andF = the time weighted average of the total number of Shares in issuein the relevant Class during that Performance Period.In the event that the calculation of (B - C - D) produces a negativeresult then that shortfall, expressed as a percentage, shall be carriedforward to the next Performance Period as a hurdle to the InvestmentManager’s entitlement to a Performance Fee (identified as the HighWatermark in ‘C’ above).The Performance Fee is calculated and accrued on each Valuation Dayand is payable to the Investment Manager within 30 days of the end ofthe Performance Period. For the purposes of calculating thePerformance Fee accruals, on each Valuation Day the formula for thecalculation of the Performance Fee shall be applied as if that ValuationDay were the last Valuation Day in the Performance Period.The Performance Fee may be adjusted in the event of any change inthe manner in which the Benchmark is calculated or published and anyrebasing of the Benchmark. For Classes which are denominated in acurrency other than that of the Benchmark, the Benchmark shall be redenominatedin the currency of the Class or as the Directors mayotherwise think fit.TimingCalculation periods for the Performance Fee correspond to theaccounting periods of the Company. The Performance Fee will bepayable within 30 days of the end of the accounting period.33

THE JUPITER GLOBAL FUNDGeneral Information■■General InformationCommission Sharing ArrangementsThe Investment Manager of the Funds may from time to time receivegoods and services which are paid for out of broker commissionsprovided that they relate to execution and research services which meetthe criteria laid down by the FSA’s Rules.Liquidation of the CompanyIn the event of the voluntary liquidation of the Company, suchliquidation will be carried out in accordance with the Law by one orseveral liquidators named by the general meeting of Shareholderseffecting such dissolution and which shall determine their powers andtheir compensation. Such law currently provides for the deposit inescrow at the Caisse de Consignation of any amounts which have notbeen claimed by any Shareholder at the time of the closing of theliquidation. Amounts which have not been claimed from escrow withinthe prescribed period are liable to be forfeited in accordance with theprovisions of Luxembourg law.Merger, Liquidation and Reorganisation of FundsThe Directors may decide to liquidate a Fund if the net assets of suchFund fall below the equivalent of €10,000,000 or if, at their absolutediscretion, the Directors believe that a change in the economic orpolitical situation relating to the Fund concerned would justify suchliquidation or if, for financial and commercial reasons, the Directorsconsider it in the general best interests of the Shareholders to liquidatethe relevant Fund, if permitted by, and under the conditions set forthin, the Articles. The decision to liquidate will be published by theCompany prior to the effective date of the liquidation and thepublication will indicate the reasons for, and the procedures of, theliquidation operations. Unless the Directors otherwise decide in theinterests of, or to keep equal treatment between, the Shareholders,the Shareholders of the Fund concerned may continue to requestredemption or conversion of their Shares. Assets which could not bedistributed to their beneficiaries upon the close of the liquidation of theFund concerned will be deposited with the Caisse de Consignation onbehalf of their beneficiaries.As a general rule, the liquidation shall be closed within a period of nine(9) months from the date of liquidation. However, subject to regulatoryapproval, this period of liquidation may be extended. Any outstaningamount of the liquidation income that shall not have been distributedbefore such closure will be deposited with the Caisse de Consignationand held at the disposal of the rightful Shareholders until the end of theperiod of limitation (prescription).The Directors may decide to allocate the assets of any Fund to thoseof another existing Fund within the Company (the ‘new Fund’) and toredesignate the shares of the sub-class or sub-classes concerned asshares of the new Fund (following a split or consolidation, if necessary,and the payment of the amount corresponding to any fractionalentitlement to Shareholders). The Directors may also decide to allocatethe assets of any Fund to another undertaking for collective investmentorganised under the provisions of Part I of the Law or under thelegislation of a member state of the European Union, or of the EuropeanEconomic Area, implementing Directive 2009/65/EC or to acompartment within such other undertaking for collective investment.The mergers will be undertaken within the framework of the Law.Any merger shall be decided by the Directors unless the Directorsdecide to submit the decision for a merger to a meeting of Shareholdersof the Fund concerned. No quorum is required for such a meeting anddecisions are taken by a simple majority of the votes cast. In case of amerger of a Fund where, as a result, the Company ceases to exist, themerger shall be decided by a meeting of Shareholders resolving inaccordance with the quorum and majority requirements for changingthe Articles.The Directors may also decide to consolidate or split Classes ofShares in any type of Shares or split or consolidate different types ofShares within a Fund. Such decision will be published in the samemanner as described in the paragraph on the liquidation of a Fundhereabove and in accordance with applicable laws and regulations.Under the same circumstances as provided in the paragraph on theliquidation of a Fund hereabove, the Directors may decide thereorganisation of a Fund, by means of a division into two or moreFunds. Such decision will be published in accordance with applicablelaws and regulations. Such publication will normally be made onemonth before the date on which the reorganisation becomes effectivein order to enable the Shareholders to request redemption of theirShares, free of charge, before the operation involving division into twoor more Funds becomes effective.Creation of new FundsThe Board of Directors of the Company may decide, at any time, toestablish new Funds. On the establishment of such additional Funds,the present Prospectus shall be adapted accordingly. Furthermore inthe case of Funds or Classes created, which are not yet opened forsubscription, the Board of Directors of the Company is empowered todetermine at any time the initial period of subscription and the initialsubscription price. At the opening of a Fund or Class, the Prospectusand the Simplified Prospectuses shall, if appropriate, be updated.Risk management processThe Company employs a risk-management process which enables it,together with the Management Company, to monitor and measure thevalue of each Fund’s investment positions and their contribution to theoverall risk profile of each Fund. The risk monitoring process isperformed by the Management Company in accordance with thespecifications of the Board of Directors and with a frequency andmethodology appropriate to the risk profile of each Fund.The permanent risk management function is the responsibility of the‘Director of Risk’ of the Management Company and is responsible formonitoring the financial risks, paying particular attention to financialderivative instruments and the risks associated therewith.The Management Company shall calculate the Fund’s global exposureby using the commitment approach, the Value at Risk approach or otheradvanced risk measurement methodologies as may be appropriate.Each Fund must calculate its global exposure on at least a daily basis andthe limits on global exposure must be complied with on an ongoing basis.The Management Company shall, at the same time, ensure that themethod selected to measure global exposure is appropriate, takinginto account the investment strategy pursued by the Fund, the typesand complexities of the financial derivative instruments used, and theproportion of the Fund’s portfolio which comprises financial derivativeinstruments. Where a Fund employs techniques and instrumentsincluding repurchase agreements or securities lending transactions inorder to generate additional leverage or exposure to market risk, theManagement Company shall take these transactions into considerationwhen calculating global exposure. The selection of the methodology tocalculate global exposure should be based on the self-assessment bythe Fund of its risk profile resulting from its investment policy, includingits use of financial derivative instruments.34

THE JUPITER GLOBAL FUNDGeneral Information■■General InformationUse of the Value at Risk (VaR) ApproachA Fund must use an advanced risk measurement methodology(supported by a stress testing program) such as the Value at Risk(VaR) approach to calculate global exposure where:1. it engages in complex investment strategies which representmore than a negligible part of the Fund’s investment policy2. it has more than a negligible exposure to exotic derivatives3. the commitment approach doesn’t adequately capture themarket risk of the portfolioAs a general rule, the Fund should use a maximum loss approach toassess whether the complex investment strategy or the use of exoticderivatives represent more than a negligible exposure. Thoseinvestment strategies that can be pursued by the Fund through theuse of financial derivative instruments for which the commitmentapproach does not adequately capture the related risks (for instancenon-directional risks like volatility risk, gamma risk or basis risk) and/or for which it does not give, with regards to the complexity of thestrategy, an adequate and risk sensitive view of the related risks, implythe use of an advanced risk measurement methodology. Someexamples of such investment strategies can be:• hedge fund-like strategies• option strategies (delta-neutral or volatility strategies)• arbitrage strategies (interest rate curve, convertible bondarbitrage, etc.)• complex long/short and/or market neutral strategies• strategies that use derivatives to create a highly leveragedinvestment positionUse of the Commitment ApproachA Fund that is not using an advanced risk measurement methodologyto calculate global exposure must apply the commitment approach.The risk function of the Management Company and the InvestmentManager each use additional quantitative measures in relation tothese Funds, such as the Value-At-Risk (‘VaR’) of the portfolio,coupled with ad hoc stress tests and regular back test programs inorder to validate the VaR model used.In practice the risk function of the Management Company and theInvestment Manager each monitor the VaR figures on a daily basiswith regard to the limits required by the CSSF (being no more than (A)20% for Funds with an absolute return benchmark (such as LIBOR) or(B) a choice of either an absolute VaR of no more than 20% or aspecified VaR relative to the Benchmark for those Funds with anequity index benchmark (such as FTSE World Index), in accordancewith the provisions of CSSF Circular 11/512 and the UCITS Directive).The Management Company and the Investment Manager eachperforms further in depth analysis should any such limit be exceeded.The quantitative results of exposure coming from the calculationengines system are compared to the various limits set out forthe considered Fund (whether relative or absolute) and anybreach is further investigated and to the Investment Manager forremedial action.Ad hoc stress tests are also run on a regular basis in order to assessthe impacts of low probability events on the Fund. The results of thesestress tests scenarios are reported to the Company and the InvestmentManager. Similarly, in order to validate the VaR model used, back testprograms are run on a regular basis and the results are also reportedto the Company and the Investment Manager.Further information relating to the risk management and control policy,procedures and methods employed by the Management Companyand the Investment Manager are available on request from theManagement Company and the Investment Manager respectively.Data Protection – Disclosure of InformationShareholders are informed that their personal data or the informationgiven in the subscription documents or otherwise in connection withan application to subscribe for Shares, as well as details of theirshareholding, will be stored in digital form and processed in compliancewith the provisions of the Luxembourg law of 2 August 2002 on dataprotection, as amended, as more fully described in the section ‘DataProtection’ of the Application Form.Investors should be aware that personal information may be disclosed:(i) to the Investment Manager or any other company within the JupiterGroup which may be based in countries where privacy laws do notexist or provide less protection than the laws in the EU; or (ii) whenrequired by applicable law and regulation. By investing in Shares,each investor authorizes the Investment Manager, and any othercompany within the Jupiter Group as attorney-in-fact to collect fromHSBC Securities Services (Luxembourg) S.A., in its capacity asAdministrator in charge of registrar and transfer functions, allnecessary information pertaining to investments in the Company forthe purpose of Shareholder servicing and/or the effective managementof the Company.Shareholders are also informed that they have a right to access theirpersonal data in order to rectify incomplete or inaccurate data.Documents Available for InspectionCopies of the following documents are available for inspection duringnormal business hours on any Business Day at the registered office ofthe Company:(i)(ii)(iii)(iv)(v)(vi)the Articles;the Management Company Services Agreement between theManagement Company and the Company;the Investment Management Agreement between the Company,the Investment Manager and the Management Company;the Custodian Agreement between the Company and theCustodian;the service agreement between the Company, the ManagementCompany and the Administrator;the latest annual and semi-annual reports and accounts of theCompany (when published);(vii) this Prospectus;(viii) the Simplified Prospectuses; and(ix)the Application Form.35

THE JUPITER GLOBAL FUNDGeneral Information■■General InformationDocuments Available for Inspection continuedCopies of all of these documents are also available for inspection duringnormal business hours on any Business Day at the registered offices ofeach of the Company, the Custodian and the Paying Agents appointedin each of the countries in which the Funds are authorised for distribution.Copies of the following documents are available on request from theDistributors, the Custodian or from the Administrator:(i)(ii)(iii)(iv)(v)(vi)this Prospectus;the Articles;the latest annual and semi-annual reports and accounts of theCompany;the Simplified Prospectuses;the Information Sheets; andthe Application Form.36

THE JUPITER GLOBAL FUNDSupplementary Information for Investors in the United Kingdom■■Supplementary Information for Investors in the United KingdomThis supplementary information forms part of and should be read inconjunction with the Prospectus or Simplified Prospectuses, as thecase requires. Unless otherwise stated, capitalised terms in thissupplementary information shall have the same meaning as in theProspectus or Simplified Prospectuses. This supplementaryinformation, as well as the Simplified Prospectus and Prospectus areprovided to UK investors in English.The Investment Manager is the UK representative of the Company inaccordance with the FSA’s Regulations. If investors in the UK haveany queries or complaints about any aspect of the Company theyshould contact the Investment Manager in the first instance. Since theCompany is registered in Luxembourg, cancellation rights will not beavailable and investors will not have the right to refer to an ombudsmanservice to resolve disputes regarding the Company. Shareholders willnot have any recourse to a compensation scheme in the event ofdefault by the scheme operator.The scheme documents, including the instrument constituting thescheme, any instrument amending the instrument constituting thescheme, the latest Prospectus, the Simplified Prospectuses and latestannual and half yearly reports, for the Company may be inspected andcopies obtained in English free of charge, during normal businesshours, at the Investment Manager’s registered office at 1 GrosvenorPlace, London SW1X 7JJ (Tel: +44 (0)20 7412 0703). The InvestmentManager is authorised and regulated in the UK by the FSA in itsconduct of investment business and is registered with the FSA undernumber 141274.Any person may obtain information about the prices of shares of thescheme in English from the Investment Manager at its registeredoffice and contact telephone number set out above. An investor mayredeem or arrange for redemption of the shares in the scheme andobtain payment by sending their redemption request in the prescribedform to the Administrator or to the Investment Manager at the addressset out above.Although the Company is recognised by the FSA in the mannerdescribed above, potential investors in the UK are advised that therules made by the FSA under the Financial Services and Markets Act2000 (the ‘Act’) do not in general apply to the Company in relation toits investment business. In particular the rules made under the Act forthe protection of private customers (for example, those conferringrights to cancel or withdraw from certain investment agreements) donot apply in connection with an investment in the Company. In additionthe protections available under the Financial Services CompensationScheme and the Financial Ombudsman Service will not be availablein connection with an investment in the Company. Further informationis available from the FSA.For investors’ own security, the Investment Manager may record orrandomly monitor all telephone calls.Important Tax Information for UK InvestorsThe summary below is intended only as a general guide forpotential investors and does not constitute tax advice. Intendinginvestors are strongly advised to seek independent professionaladvice concerning possible taxation or other considerations thatmay be relevant to their particular circumstances.Potential investors should note that the following information relatesonly to United Kingdom taxation and is based on advice received bythe Directors regarding current law and practice. It is therefore subjectto any subsequent changes. The Directors of the Fund are informed ofthe following general taxation consequences for investors resident inthe United Kingdom and subject to UK tax:a) The Company is not resident in the UK for taxation purposes andit is the intention of the Directors to continue to conduct theaffairs of the Company so that it does not become resident in theUK. Accordingly, it should not be subject to UK taxation. TheCompany is an ‘offshore fund’ within the offshore fundslegislation in Part 8 of the Taxation (International etc) Act 2010.b) The Offshore Funds (Tax) Regulations 2009 (the ‘Regulations’)provide that if an investor resident or ordinarily resident in the UKfor taxation purposes holds an interest in an offshore fund, andthe fund does not obtain certification as a ‘reporting fund’ for theentire period in which the investor holds that interest, any gain(calculated without the benefit of indexation) accruing to theinvestor upon sale or other disposal of the interest (including adisposal pursuant to a switch transaction) will be taxed asincome and not as a capital gain.c) Section 355 of the Taxation (International etc) Act 2010 definesthe term ‘offshore fund’ for the purposes of applying theRegulations. For these purposes, each of the constituentClasses of the Company will be regarded as a separate offshorefund. Accordingly, the different Classes of the Company musteach obtain ‘reporting fund’ status in their own right. The Classeswhich have been certified for all accounting periods up to30 September 2010 as ‘distributing funds’ will be treated ashaving obtained ‘reporting fund’ status for the purposes ofapplying the Regulations. The Directors expect these Classes tocontinue to be certified as ‘distributing funds’ for the accountingperiod ending 30 September 2011 - these Classes, if so certified,will then be regarded as ‘reporting funds’ for the purposes of theRegulations for that period. Further, the Directors currentlyintend to apply for ‘reporting fund’ status in respect of all Classeswhich are currently certified as distributing funds for theaccounting period ending 30 September 2012. The Directorsalso intend to maintain ‘reporting fund’ status for all Classescurrently holding this status. Please note there can be noguarantee that these Classes will remain so certified and theDirectors do not accept any liability for such certification notbeing successfully. Once reporting fund status is obtained fromHMRC for each Class, it will remain in place for all subsequentperiods provided that the annual reporting requirements aresatisfied. The current official list of reporting Funds may beinspected on the HMRC website at: http://www.hmrc.gov.uk/collective/rep-funds.xls. The official list of Distributing Fundsmay inspected at: http://www.hmrc.gov.uk/offshorefunds/offshore-funds.xlsd) Under the Regulations, all ‘reporting funds’ will be required todisclose annually to investors the ‘total reportable income’arising in each certified Class in order to maintain reporting fund’status. The Directors currently intend to apply for ‘reporting fund’status for the accounting period ending 30 September 2012 andall subsequent periods. UK resident Shareholders who hold theirinterests at the end of the reporting period to which the reportedincome relates will therefore be subject to income tax orcorporation tax on the higher of any cash distribution paid andthe full reported amount for the relevant Classes held. Thereported income will be deemed to arise to UK Shareholders on37

THE JUPITER GLOBAL FUNDSupplementary Information for Investors in the United Kingdom■■Supplementary Information for Investors in the United Kingdomthe date the report is issued by the Directors provided that therelevant Class reports within 6 months of the accounting periodend. It is expected that the report will be available within 6months of the accounting period end. For accounting periods upto and including the period ending 30 September 2011, ‘reportingfund’ certification will be obtained in accordance with transitionalprovisions in the Regulations, which apply where a fund haspreviously been certified as a ‘distributing fund’ for UK taxpurposes. Shareholders in the relevant Classes during theseperiods will be taxed only on actual cash distributions received.The ‘total reportable income’ for those Classes which areclassified as Reporting Funds will be published online at: www.jupiteronline.com.e) Subject to paragraph (c) above, capital gains arising on adisposal of Shares by individuals will be liable to capital gains taxat either 18% or 28% if, together with other net gains, theyexceed the annual exemption, which is GBP 10,600 for the fiscalyear ending 5 April 2012. The applicable rate of capital gains taxfor other non-corporate investors is currently a flat rate of 18%.In the case of companies generally, gains arising on a disposalof Shares (after indexation allowance), will be liable to corporationtax. The mainstream rate of corporation tax is currently 28%.Tax rates may be different for subsequent financial years.f) Since the Company does not propose to seek certification fromHMRC as a Distributing Fund or as a Reporting Fund for allClasses in issue, any gains arising on a redemption, disposal (ordeemed disposal) or on conversion from one Class to another ofShares in a Class which is not specifically identified in therelevant Information Sheet as being a Distributing Fund or aReporting Fund will be ‘offshore income gains’ for tax purposesand will generally be liable to tax as income for Shareholderswho are resident or ordinarily resident in the UK for tax purposes.Gains chargeable to tax as income under the offshore fundsprovisions are not eligible for Capital Gains Tax annualexemption which is available annually for individuals or, in thecase of corporate Shareholders, an indexation allowance.g) Dividends received by Shareholders liable to UK income tax orreinvested on their behalf in further Shares, or reported income inexcess of the dividends received by Shareholders, received fromcorporate offshore funds which are largely invested in equities willbe charged to income tax as dividends from a non-UK residentcompany. These income receipts should be declared on theinvestor’s tax return and will be taxable at the applicable rate ofincome tax. The rates for the fiscal year ended 5 April 2012 is 10%where net income is less than GBP 35,000 and 32.5% or 42.5%for higher rate or additional rate tax payers respectively. IndividualShareholders resident or ordinarily resident in the UK will generallybenefit from a non-refundable tax credit in respect of suchdividends received from corporate offshore funds. The effect ofthis notional tax credit is that dividends will be deemed to bereceived net of a 10% withholding tax.h) It should be noted that, where 60% or more of the fund assets areinvested in interest-bearing products, individual Shareholdersresident or ordinarily resident in the UK receiving distributionsand/or reported income will be treated for UK tax purposes ashaving received interest income and not a dividend. This willmean that the applicable tax rates will be those for interest income(currently 20% basic rate, 40% higher rate and 50% for additionalrate tax payers respectively) and that no tax credit will apply.i) Individual Shareholders resident or ordinarily resident In the UKshould note the provisions of Chapter 2 of Part 13 of the IncomeTax Act 2007. These provisions are directed to the prevention ofavoidance of income tax through transactions resulting in thetransfer of assets or income to persons (including companies)resident or domiciled outside the UK and may render them liableto taxation in respect of any undistributed income and profits ofthe Fund on an annual basis. This legislation is not directedtowards the taxation of capital gains.j) The attention of investors resident or ordinarily resident in theUK (and who, if individuals. are also domiciled in the UK forthose purposes) is also drawn to the provisions of Section 13 ofTaxation of Chargeable Gains Act 1992 (‘Section 13’). Underthese provisions, where a chargeable gain accrues to a companythat is not resident in the UK, but which would be a closecompany if it were resident in the UK, a person may be treatedas though a proportional part of that chargeable gain, calculatedby reference to their interest in the company, has accrued tothem. No liability under Section 13 can be incurred by such aperson, however, where such proportion does not exceed onetenthof the gain.k) Dividends received by Shareholders subject to UK corporationtax or reinvested on their behalf in further Shares, will be treatedas income receipts. For Shareholders subject to UK corporationtax most forms of overseas dividends will be exempt from thecharge to UK corporation tax provided they fall within one of theexempt classes of distributions listed in Part 9A of the CorporationTax Act 2009.l) The attention of corporate Shareholders is drawn to Chapter 3 ofPart 6 of the Corporation Tax Act 2009, whereby relevant interestsof companies in offshore funds may be deemed to constitute aloan relationship with the consequence that all profits and losseson such relevant interests are chargeable to corporation tax inaccordance with a fair value basis of accounting. The relevantprovisions apply where the market value of interest bearingsecuritiesand other qualifying investments of a fund comprisesmore than 60% of the value of all the investments of that fund atany time during an accounting period.m) Corporate Shareholders resident in the UK should note theprovisions of Chapter 4 of Part 17 of the Taxes Act. Theseprovisions may subject UK resident companies to corporationtax on profits of non-resident companies. controlled by personsresident in the UK, in which they have an interest. Theseprovisions affect UK resident companies who have an interest ofat least 25% in the profits of a non-resident company, whichdoes not distribute substantially all its income. In view of theproposed income distribution policy, it is not anticipated thatthese provisions will have any material effect on UK residentcorporate Shareholders. This legislation is not directed towardsthe taxation of capital gains.n) Investors who are insurance companies within the charge toUnited Kingdom corporation taxation holding their Shares in theFund for the purposes of their long-term business (other thanpension business) will be deemed to dispose of and immediatelyreacquire those Shares at the end of each accounting period.38

THE JUPITER GLOBAL FUNDSupplementary Information for Investors in the United Kingdom■■Supplementary Information for Investors in the United Kingdomo) Investors should also read the taxation section on page 34 ofthis Prospectus which describes additional tax consequencesfor investors. Shareholders should seek their own professionaladvice as la the tax consequences before investing in Shares inthe Fund. Taxation law and practice, and the levels of taxation,are subject to future alteration.Stamp Duty and Stamp Duty Reserve Tax (‘SDRT’)The following comments are intended as a guide to the generalStamp Duty and SDRT position and do not relate to persons such asmarket makers, brokers, dealers, intermediaries and personsconnected with depository arrangements or clearance services, towhom special rules apply.No UK Stamp Duty or SDRT will be payable on the issue of theShares. UK Stamp Duty (at the rate of 0.5%, rounded up wherenecessary to the nearest £5 of the amount of the value of theconsideration for the transfer) is payable on any instrument of transferof the Shares executed within, or in certain cases brought into, the UK.No UK stamp duty will be payable on the transfer of the Shares,provided that all instruments effecting or evidencing the transfer arenot executed in the UK and no matters or actions relating to thetransfer are performed in the UK. Provided that the Shares are notregistered in any register of a Class of a Fund or the Company kept inthe UK and that the Shares are not paired with shares issued by acompany incorporated in the UK, the agreement to transfer the Shareswill not be subject to UK SDRT.This information is of a general nature based on the Directors’understanding of the current revenue law and practice in the UK,and is subject to change. It applies only to persons holdingShares as investments and may not apply to certain classes ofpersons such as securities dealers. It should not be regarded aslegal or tax advice. Investors who are in any doubt about their taxpositions should take appropriate advice regarding the taxliabilities arising from the acquisition, holding, redemption, saleor other disposal of Shares under the law of their country ofdomicile, residence or citizenship.39

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Climate Change SolutionsInvestment ObjectiveTo generate long term capital growth from investment worldwidein companies that are responding positively to the challenge ofenvironmental sustainability and climate change.Investment PolicyThe Fund will invest primarily in worldwide equity and equity relatedsecurities (including listed preference shares, listed convertibleunsecured loan stock, listed warrants and other similar securities).The portfolio will principally comprise of companies considered by theInvestment Manager to provide products or services which contributeto environmental improvement, facilitate adaptation to the impacts ofclimate change or help mitigate the impacts of climate change.Subject to the limits set out in the Investment Restrictions, the Fund willhave the ability: to hedge against directional risk using index futuresand/or cash; to hold bonds and warrants on transferable securities; touse options and futures for hedging purposes and for efficient portfoliomanagement; to enter into portfolio swaps; to use forward currencycontracts; and to hold liquid assets on an ancillary basis.Profile of the typical investorThis Fund may be suitable for investors with a broad attitude torisk looking for a long term investment opportunity in line with itsInvestment Objective and Policy. An investment in the Fund will notbe suitable for investors seeking solely an index-linked return on theirinvestment. Investment in the Fund should be regarded as long termin nature and may not be suitable as a short term investment. Typicalinvestors in the Fund are expected to be asset and wealth managersregulated or authorised by the relevant local regulator, retail privateclients who will invest through suitably authorised intermediaries andprivate individuals who are experienced in making equity investmentsand who have the resources to withstand the risks associatedwith them.Base CurrencyEuro.Initial Issue of SharesShares were initially issued on 30 September 2005 by contributionin kind. Since 5 October 2005, the Shares have been offered to thepublic at the prevailing Net Asset Value per Share.Currency of SubscriptionShares of each Class may be purchased in any freely convertiblecurrency at such conversion rates as may be determined by theCustodian and at the exchange rate risk of the investor, as more fullydescribed in the section headed ‘How to Subscribe’ in this Prospectus.Valuation DayEvery Business Day in Luxembourg.Dealing Deadline1.00pm (Luxembourg time) on every Valuation Day.Price Informationwww.jupiteronline.com and at the registered office of the Companyon every Valuation Day. Price information is also available on requestfrom the Distributors and from the Administrator in Luxembourg.ListingThere is currently no intention to list any Class of Shares on theLuxembourg Stock Exchange.Global ExposureThe global exposure of the Fund is calculated using theCommitment Approach.40

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Climate Change SolutionsClass Name and Class CurrencyClass LEuroClass LUS DollarClass LSterlingClass LNorwegianKroneClass LSwedishKronaSecurities Identification Number (ISIN) LU0231118026 LU0300038618 LU0279091325 LU0329070162 LU0329070329WKN A0HF9U A0MRMY A0MRMZ A0NBGQ A0NBGRClearstream Common Code 23111802 30003861 27909132 32907016 32907032SEDOL 7510621 B1X2270 B1X2269 B296187 B2961L0Initial Charge (up to) 5% 5% 5% 5% 5%Management Fee (up to) 1.50% 1.50% 1.50% 1.50% 1.50%Minimum Initial Investment €1,000 US$1,000 £1,000 NOK 10,000 SEK 12,000Minimum Incremental Investment €50 US$50 £50 NOK 500 SEK 600Minimum Holding €1,000 US$1,000 £1,000 NOK 10,000 SEK 12,000Performance Fee None None None None NoneInitial Subscription Price at launch (beforeInitial Charge)Distribution PolicyAccumulationof Income€10 US$10 £10 NOK 10 SEK 10Accumulationof IncomeAnnual dividendwith automaticreinvestmentby defaultAccumulationof IncomeAccumulationof IncomeUK Reporting Fund No No Yes No NoBenchmarkFTSEWorld SeriesWorld Index(Total Return)FTSEWorld SeriesWorld Index(Total Return)FTSEWorld Series WorldIndex(Total Return)FTSEWorld Series WorldIndex(Total Return)FTSEWorld Series WorldIndex(Total Return)Benchmark Ticker Code FTREWRLD FTREWRLD FTREWRLD FTREWRLD FTREWRLDWhich companies will the Jupiter Climate Change Solutionsinvest in?It is the Investment Manager’s view that environmental solutionsbusinesses will have deep, long-term structural impact across threekey areas – infrastructure, resource efficiency and demographics. TheInvestment Manager believes the new categories better communicatethe link between environmental and economic issues. They alsoreflect the Investment Manager’s belief that investment inenvironmental solutions businesses is an investment in long-termglobal structural growth.InfrastructureThere has been a marked increase in global infrastructure spending inrecent years as emerging market economies look to support rapidgrowth and mature economies seek to modernise. Patterns in bothemerging and developed markets have trended towards infrastructureof lower environmental impact (i.e. less pollution, more alternativeenergy sources etc.) in recognition of its longer-term economic benefits.This is creating opportunities for businesses involved in renewableenergy generation, smart electrical grids, clean and wastewatersystems, engineering consultants, transport infrastructure andcommunication networks.Resource efficiencyIncreased global demand for natural resources has stimulatedsignificant investment in resource efficiency (i.e. lower impact methodsof using existing resources such as energy, water and land, as well asresource recycling). This is presenting opportunities for businessesinvolved in energy and water efficiency, wastewater recycling, airpollution technology, waste recycling (from residential to industrialmaterials) and sustainable agriculture and land management.DemographicsRising populations and changing demographic patterns around theworld create unique challenges when it comes to environmental andeconomic sustainability. Ageing populations in the West are puttingpressure on healthcare, for example, while a growing global populationis affecting agriculture and food production. These challenges havecreated opportunities for businesses that are providing sustainable, lowimpact solutions in sustainable consumption, public transport, health,agriculture and education. The Fund continues to use a stock-focusedinvestment approach. Taking a long-term bottom-up approach toinvestment and every stock within the portfolios is there on its ownfundamental merits. These are companies with strong managementteams, sound balance sheets and defendable market positions thatconvert a high proportion of profit into cash. While the Fund is global inscope, specific geographical exposures are a consequence of stockpicking process rather than targeted asset allocation.Full details can be found on Jupiter’s website atwww.jupiterinternational.com.Definitions used in this Information Sheet• ‘NOK’ means Norwegian Krone, the legal currency of Norway; and• ‘SEK’ means Swedish Krona, the legal currency of Sweden.This Information Sheet forms an integral part of this Prospectus.The information contained in this Information Sheet should beread in conjunction with the full information contained in thisProspectus. In particular, investors should read the risk warningsset out in the section headed ‘Risk Factors’ above.41

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Asia PacificInvestment ObjectiveTo achieve long term capital growth by investing primarily in quotedcompanies in any economic sector involved directly or indirectly in theAsian and Pacific Basin markets, excluding Japan.Investment PolicyThe Fund will invest primarily in equity and equity related securities(including listed preference shares, listed convertible unsecured loanstock, listed warrants and other similar securities) of companies whichhave their registered office in Asia and the Pacific Basin (excludingJapan) or exercise the predominant part of their economic activitiesin Asia and the Pacific Basin (excluding Japan) in sectors andgeographical areas which are considered by the Investment Managerto offer good prospects for capital growth, taking into accounteconomic trends and business developments.Subject to the limits set out in the Investment Restrictions, the Fund willhave the ability: to hedge against directional risk using index futuresand/or cash; to hold bonds and warrants on transferable securities; touse options and futures for hedging purposes and for efficient portfoliomanagement; to enter into portfolio swaps; to use forward currencycontracts; and to hold liquid assets on an ancillary basis.Profile of the typical InvestorThis Fund may be suitable for investors with a broad attitude to risklooking for a long term investment opportunity in line with its InvestmentObjective and Policy. An investment in the Fund will not be suitablefor investors seeking solely an index-linked return on their investment.Investment in the Fund should be regarded as long term in nature andmay not be suitable as a short term investment. Typical investors inthe Fund are expected to be asset and wealth managers regulated orauthorised by the relevant local regulator, retail private clients who willinvest through suitably authorised intermediaries and private individualswho are experienced in making equity investments and who have theresources to withstand the risks associated with them.Base CurrencyUS Dollar.Initial Issue of SharesShares were initially issued on 30 September 2005 by contributionin kind. Since 5 October 2005, the Shares have been offered to thepublic at the prevailing Net Asset Value per Share.Currency of SubscriptionShares of each Class may be purchased in any freely convertiblecurrency at such conversion rates as may be determined by theCustodian and at the exchange rate risk of the investor, as more fullydescribed in the section headed ‘How to Subscribe’ in this Prospectus.Valuation DayEvery Business Day in Luxembourg.Dealing Deadline1.00pm (Luxembourg time) on every Valuation Day.Price Informationwww.jupiteronline.com and at the registered office of the Companyon every Valuation Day. Price information is also available on requestfrom the Distributors and from the Administrator in Luxembourg.ListingThere is currently no intention to list any Class of Shares on theLuxembourg Stock Exchange.Global ExposureThe global exposure of the Fund is calculated using theCommitment Approach.42

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Asia PacificClass Name andClass CurrencyClass LUS DollarClass LSterlingSecurities Identification Number (ISIN) LU0231116830 LU0329070592WKN A0HF9R A0NBGSClearstream Common Code 23111683 32907059SEDOL B4YB2X3 B296198Initial Charge (up to) 5% 5%Management Fee (up to) 1.50% 1.50%Minimum Initial Investment US$1,000 £1,000Minimum Incremental Investment US$50 £50Minimum Holding US$1,000 £1,000Performance Fee None NoneInitial Subscription Price at launch(before Initial Charge)Distribution PolicyAccumulation ofIncomeUS$10 £10Annual dividendwith automaticreinvestment bydefaultUK Reporting Fund No YesBenchmarkMSCI AC Asia exJapan IndexMSCI AC Asia exJapan IndexBenchmark Ticker Code GDUECAXJ GDUECAXJThis Information Sheet forms an integral part of this Prospectus. The information contained in this Information Sheet should be read inconjunction with the full information contained in this Prospectus. In particular, investors should read the risk warnings set out in thesection headed ‘Risk Factors’ above.43

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter European OpportunitiesInvestment ObjectiveTo achieve long term capital growth from investments in companiesquoted on a European Stock Exchange.Investment PolicyThe Fund will invest primarily in equity and equity related securities(including listed preference shares, listed convertible unsecured loanstock, listed warrants and other similar securities) of companies whichhave their registered office in Europe or exercise the predominant part oftheir economic activities in Europe and in sectors which are consideredby the Investment Manager to offer good prospects for capital growth,taking into account economic trends and business developments.Subject to the limits set out in the Investment Restrictions, the Fund willhave the ability: to hedge against directional risk using index futuresand/or cash; to hold bonds and warrants on transferable securities; touse options and futures for hedging purposes and for efficient portfoliomanagement; to enter into portfolio swaps; to use forward currencycontracts; and to hold liquid assets on an ancillary basis.Profile of the typical InvestorThis Fund may be suitable for investors with a broad attitude to risklooking for a long term investment opportunity in line with its InvestmentObjective and Policy. An investment in the Fund will not be suitablefor investors seeking solely an index-linked return on their investment.Investment in the Fund should be regarded as long term in nature andmay not be suitable as a short term investment. Typical investors inthe Fund are expected to be asset and wealth managers regulated orauthorised by the relevant local regulator, retail private clients who willinvest through suitably authorised intermediaries and private individualswho are experienced in making equity investments and who have theresources to withstand the risks associated with them.Base CurrencyEuro.Issue of SharesThe Fund is a continuation of a sub-fund of a Luxembourg UCITSwhich was merged into the Company on 21 August 2006. Since themerger, the Shares have been offered to the public at the prevailingNet Asset Value per Share.Currency of SubscriptionShares of each Class may be purchased in any freely convertiblecurrency at such conversion rates as may be determined by theCustodian and at the exchange rate risk of the investor, as more fullydescribed in the section headed ‘How to Subscribe’ in this Prospectus.Valuation DayEvery Business Day in Luxembourg.Dealing Deadline1.00pm (Luxembourg time) on every Valuation Day.Price Informationwww.jupiteronline.com and at the registered office of the Companyon every Valuation Day. Price information is also available on requestfrom the Distributors and from the Administrator in Luxembourg.ListingThere is currently no intention to list any Class of Shares on theLuxembourg Stock Exchange.Global ExposureThe global exposure of the Fund is calculated using theCommitment Approach.44

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter European OpportunitiesClass Name and Class CurrencyClass LEuroClass LSterlingClass IEuroSecurities Identification Number (ISIN) LU0260086623 LU0300038881 LU0260087274WKN A0J33N A0MRM0 A0J33QClearstream Common Code 26008662 30003888 26008727SEDOL 7510643 B1X2281 7440728Initial Charge (up to) 5% 5% 5%Management Fee (up to) 1.50% 1.50% 0.75%Minimum Initial Investment €1,000 £1,000 €10,000,000Minimum Incremental Investment €50 £50 NoneMinimum Holding €1,000 £1,000 €10,000,000Performance Fee None None NoneInitial Subscription Price at launch(before Initial Charge)Distribution PolicyAccumulationof Income€10 £10 €10Annual dividend with automaticreinvestment by defaultAccumulationof IncomeUK Reporting Fund No Yes NoBenchmarkFTSE World SeriesEurope Index(Total Return)FTSE World SeriesEurope Index(Total Return)FTSE World SeriesEurope Index(Total Return)Benchmark Ticker Code FTREEURO FTREEURO FTREEUROThis Information Sheet forms an integral part of this Prospectus. The information contained in this Information Sheet should be read inconjunction with the full information contained in this Prospectus. In particular, investors should read the risk warnings set out in thesection headed ‘Risk Factors’ above.45

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter European GrowthInvestment ObjectiveTo achieve long term capital growth by exploiting special investmentopportunities in Europe.Investment PolicyThe Fund will invest primarily in equity and equity related securities(including listed preference shares, listed convertible unsecured loanstock, listed warrants and other similar securities) of issuers whichhave their registered office in Europe or exercise the predominant partof their economic activities in Europe (including UK) and which areconsidered by the Investment Manager to be undervalued or otherwiseto offer good prospects for capital growth. The Investment Managerwill adopt a primarily bottom up approach to selecting investments forthe Fund and the Investment Manager will not be tied to investing inconstituent companies of the Benchmark.Subject to the limits set out in the Investment Restrictions, the Fund willhave the ability: to hedge against directional risk using index futuresand/or cash; to hold bonds and warrants on transferable securities; touse options and futures for hedging purposes and for efficient portfoliomanagement; to enter into portfolio swaps; to use forward currencycontracts; and to hold liquid assets on an ancillary basis.Profile of the typical InvestorThis Fund may be suitable for investors with a broad attitude to risklooking for a long term investment opportunity in line with its InvestmentObjective and Policy. An investment in the Fund will not be suitablefor investors seeking solely an index-linked return on their investment.Investment in the Fund should be regarded as long term in nature andmay not be suitable as a short term investment. Typical investors inthe Fund are expected to be asset and wealth managers regulated orauthorised by the relevant local regulator, retail private clients who willinvest through suitably authorised intermediaries and private individualswho are experienced in making equity investments and who have theresources to withstand the risks associated with them.Base CurrencyEuro.Issue of SharesThe Fund is a continuation of a sub-fund of a Luxembourg UCITSwhich was merged into the Company on 21 August 2006. Since themerger, the Shares have been offered to the public at the prevailingNet Asset Value per Share.Currency of SubscriptionShares of each Class may be purchased in any freely convertiblecurrency at such conversion rates as may be determined by theCustodian and at the exchange rate risk of the investor, as more fullydescribed in the section headed ‘How to Subscribe’ in this Prospectus.Valuation DayEvery Business Day in Luxembourg.Dealing Deadline1.00pm (Luxembourg time) on every Valuation Day.Price Informationwww.jupiteronline.com and at the registered office of the Companyon every Valuation Day. Price information is also available on requestfrom the Distributors and from the Administrator in Luxembourg.ListingThere is currently no intention to list any Class of Shares on theLuxembourg Stock Exchange.Global ExposureThe global exposure of the Fund is calculated using theCommitment Approach.46

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter European GrowthClass Name and Class CurrencyClass LEuroClass LSterlingClass IEuroSecurities Identification Number (ISIN) LU0260085492 LU0329190499 LU0260086037WKN A0J317 A0NBGT A0J319Clearstream Common Code 26008549 32919049 26008603SEDOL 7510632 B2961B0 B1GC783Initial Charge (up to) 5% 5% 5%Management Fee (up to) 1.50% 1.50% 0.75%Minimum Initial Investment €1,000 £1,000 €10,000,000Minimum Incremental Investment €50 £50 NoneMinimum Holding €1,000 £1,000 €10,000,000Performance Fee None None NoneInitial Subscription Price at launch(before Initial Charge)Distribution PolicyAccumulationof Income€10 £10 €10Annual dividendwith automaticreinvestmentby defaultAccumulationof IncomeUK Reporting Fund No Yes NoBenchmarkFTSE World SeriesEurope Index(Total Return)FTSE World SeriesEurope Index(Total Return)FTSE World SeriesEurope Index(Total Return)Benchmark Ticker Code FTREEURO FTREEURO FTREEUROThis Information Sheet forms an integral part of this Prospectus. The information contained in this Information Sheet should be read inconjunction with the full information contained in this Prospectus. In particular, investors should read the risk warnings set out in thesection headed ‘Risk Factors’ above.47

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Global FinancialsInvestment ObjectiveTo achieve long term capital growth principally through investment inequities of financial sector companies on an international basis.Investment PolicyThe Fund will invest primarily in an international portfolio of financialservices companies worldwide. The Fund will also invest, to a lesserextent, in property related companies. The companies in which the Fundinvests are considered by the Investment Manager to be undervaluedand exhibit favourable growth prospects arising from characteristicssuch as proven management or strong products or services.Subject to the limits set out in the Investment Restrictions, the Fund willhave the ability: to hedge against directional risk using index futuresand/or cash; to hold bonds and warrants on transferable securities; touse options and futures for hedging purposes and for efficient portfoliomanagement; to enter into portfolio swaps; to use forward currencycontracts; and to hold liquid assets on an ancillary basis.The Fund may enter into portfolio swaps relating to indices, sectors,baskets or individual securities for both investment purposes and forhedging or efficient portfolio management. To the extent that portfolioswaps are used for investment purposes, the Fund’s gross exposureto the market shall not exceed 150% of its net assets at any time. TheFund’s maximum long exposure to the market shall be 130% of its netassets and its maximum short exposure shall not exceed 20% of itsnet assets.Subject to the limits set out in the Investment Restrictions, the Fundmay invest in fixed interest securities, equities and equity relatedsecurities (including participation notes) issued by governments orcompanies which have their registered office in emerging marketeconomies or exercise the predominant part of their economicactivities in emerging market economies.Base CurrencyEuro.Launch Date1 November 2006.Currency of SubscriptionShares of each Class may be purchased in any freely convertiblecurrency at such conversion rates as may be determined by theCustodian and at the exchange rate risk of the investor, as more fullydescribed in the section headed ‘How to Subscribe’ in this Prospectus.Valuation DayEvery Business Day in Luxembourg.Dealing Deadline1.00pm (Luxembourg time) on every Valuation Day.Price Informationwww.jupiteronline.com and at the registered office of the Companyon every Valuation Day. Price information is also available on requestfrom the Distributors and from the Administrator in Luxembourg.ListingThere is currently no intention to list any Class of Shares on theLuxembourg Stock Exchange.Global ExposureThe global exposure of the Fund is calculated using the Relative VaRApproach. The expected maximum level of leverage for the Fund,calculated in accordance with CSSF Circular 11/512, is 200%.Profile of the typical InvestorThis Fund may be suitable for investors with a broad attitude to risklooking for a long term investment opportunity in line with its InvestmentObjective and Policy. An investment in the Fund will not be suitablefor investors seeking solely an index linked return on their investment.Investment in the Fund should be regarded as long term in nature andmay not be suitable as a short term investment. Typical investors inthe Fund are expected to be asset and wealth managers regulated orauthorised by the relevant local regulator, retail private clients who willinvest through suitably authorised intermediaries and private individualswho are experienced in making equity investments and who have theresources to withstand the risks associated with them.48

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Global FinancialsClass Name and Class CurrencyClass LEuroClass LUS DollarClass LSterlingSecurities Identification Number (ISIN) LU0262307480 LU0262307720 LU0262308454WKN A0KEM3 A0KEM4 A0KEM5Clearstream Common Code 26230748 26230772 26230845SEDOL B1GC772 B1X2292 B1GC761Initial Charge (up to) 5% 5% 5%Management Fee (up to) 1.50% 1.50% 1.50%Minimum Initial Investment €1,000 US$1,000 £1,000Minimum Incremental Investment €50 US$50 £50Minimum Holding €1,000 US$1,000 £1,000Performance Fee 1Initial Subscription Price at launch(before Initial Charge)Distribution Policy15% of the outperformance of theNAV per Share over Benchmark.A High Watermark applies.Accumulationof Income15% of the outperformance of theNAV per Share over Benchmark.A High Watermark applies.15% of the outperformance of theNAV per Share over Benchmark.A High Watermark applies.€10 US$10 £10Accumulationof IncomeAnnual dividend with automaticreinvestment by defaultUK Reporting Fund 6 No No YesBenchmarkFTSE All WorldFinancials Index(Total Return as at midday)(EUR)FTSE All WorldFinancials Index(Total Return as at midday)(USD)FTSE All WorldFinancials Index(Total Return as at midday)(GBP)Benchmark Ticker Code AWORLDS8000 AWORLDS8000 AWORLDS80001For the purposes of calculating the performance fee, where any Class is denominated in a currency other than that of the Benchmark, if relevant, the Benchmark willbe redenominated into the currency of that Class.This Information Sheet forms an integral part of this Prospectus. The information contained in this Information Sheet should be read inconjunction with the full information contained in this Prospectus. In particular, investors should read the risk warnings set out in thesection headed ‘Risk Factors’ above.49

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter New EuropeInvestment ObjectiveTo achieve long term capital growth through investment primarilyin Central and Eastern Europe, Russia, Turkey, Western Europeancompanies which, in the Investment Manager’s opinion, significantlybenefit from exposure to those countries listed herein and in additioninvestment in non European former member states of the USSR.Investment PolicyThe Fund’s investment policy is to achieve the objective by investingprimarily in equity securities. Subject to the limits set out in theInvestment Restrictions the Fund may also invest in UCITS or otherUCIs which are themselves dedicated to investments in the marketsof the countries listed above.The Fund will invest primarily in companies which have their registeredoffice or exercise the predominant part of their economic activities in(or, in the case of UCITS or other UCIs are dedicated to investments in)Central and Eastern Europe, Russia, and Turkey. The Fund is entitledto invest up to one third of the total assets of the Fund (excludingliquid assets) in non European former member states of the USSRand in companies that operate or reside in Western Europe but whichsignificantly benefit from exposure to one or more of those countrieslisted herein. The Fund is entitled to invest up to 10% of its net assetsin companies which operate or reside outside the investment scopedefined above.Subject to the limits set out in the Investment Restrictions, the Fund willhave the ability: to hedge against directional risk using index futuresand/or cash; to hold bonds and warrants on transferable securities; touse options and futures for hedging purposes and for efficient portfoliomanagement; to enter into portfolio swaps; to use forward currencycontracts; and to hold liquid assets on an ancillary basis.Base CurrencyEuro.Launch Date5 November 2007.Currency of SubscriptionShares of each Class may be purchased in any freely convertiblecurrency at such conversion rates as may be determined by theCustodian and at the exchange rate risk of the investor, as more fullydescribed in the section headed ‘How to Subscribe’ in this Prospectus.Valuation DayEvery Business Day in Luxembourg.Dealing Deadline1.00pm (Luxembourg time) on every Valuation Day.Price Informationwww.jupiteronline.com and at the registered office of the Companyon every Valuation Day. Price information is also available on requestfrom the Distributors and from the Administrator in Luxembourg.ListingThere is currently no intention to list any Class of Shares on theLuxembourg Stock Exchange.Global ExposureThe global exposure of the Fund is calculated using theCommitment Approach.Profile of the typical InvestorThis Fund may be suitable for investors with a broad attitude to risklooking for a long term investment opportunity in line with its InvestmentObjective and Policy. An investment in the Fund will not be suitablefor investors seeking solely an index-linked return on their investment.Investment in the Fund should be regarded as long term in nature andmay not be suitable as a short term investment. Typical investors inthe Fund are expected to be asset and wealth managers regulated orauthorised by the relevant local regulator, retail private clients who willinvest through suitably authorised intermediaries and private individualswho are experienced in making equity investments and who have theresources to withstand the risks associated with them.50

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter New EuropeClass Name and Class CurrencyClass LEuroClass LUS DollarClass LSterlingSecurities Identification Number (ISIN) LU0300038378 LU0300038535 LU0300038451WKN A0MRMV A0MRMX A0MRMWClearstream Common Code 30003837 30003853 30003845SEDOL B1X2236 B1X2258 B1X2247Initial Charge (up to) 5% 5% 5%Management Fee (up to) 1.50% 1.50% 1.50%Minimum Initial Investment €1,000 US$1,000 £1,000Minimum Incremental Investment €50 US$50 £50Minimum Holding €1,000 US$1,000 £1,000Performance Fee 2Initial Subscription Price at launch(before Initial Charge)15% of the outperformance of theNAV per Share over Benchmark.A High Watermark applies.15% of the outperformance of theNAV per Share over Benchmark.A High Watermark applies.15% of the outperformance of theNAV per Share over Benchmark.A High Watermark applies.€10 US$10 £10Distribution Policy Accumulation of Income Accumulation of Income Annual dividend with automaticreinvestment by defaultUK Reporting Fund No No YesBenchmarkMSCI Emerging MarketsEurope 10/40 Index(Total Return)MSCI Emerging MarketsEurope 10/40 Index(Total Return)MSCI Emerging MarketsEurope 10/40 Index(Total Return)Benchmark Ticker Code MG40MUE MG40MUE MG40MUE2For the purposes of calculating the performance fee, where any Class is denominated in a currency other than that of the Benchmark, if relevant, the Benchmark willbe redenominated into the currency of that Class.51

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter New EuropeRisk Factors specific to Jupiter New Europe:Emerging and Less Developed MarketsIn emerging and less developed markets, the legal, judicial andregulatory infrastructure is still developing but there is much legaluncertainty both for local market participants and their overseascounterparts. Some markets may carry higher risks for investors whoshould therefore ensure that, before investing, they understand therisks involved and are satisfied that an investment is suitable as partof their portfolio. Investments in emerging and less developed marketsshould be made only by sophisticated investors or professionals whohave independent knowledge of the relevant markets, are able toconsider and weigh the various risks presented by such investments,and have the financial resources necessary to bear the substantial riskof loss of investment in such investments.Smaller CompaniesThe amount of capital raised in the securities markets of in territoriesset out in the Fund’s investment policies (the ‘Territories’) may besubstantially less than the amount raised in major Western markets.As a result of lower trading volumes, the Fund’s investmentportfolio may experience greater price volatility and significantlylower liquidity than a portfolio invested in equity securities ofcompanies based in more developed West European countriesor the United States.In addition to their small size, illiquidity and volatility, the securitiesmarkets in the Territories are less developed than the major Westernsecurities markets. There is less state regulation and supervision ofthese securities markets, and less reliable information available tobrokers and investors than in the major Western markets andconsequently less investor protection.The prices at which the Fund may acquire investments may beaffected by the market’s anticipation of the Fund’s investing, by otherpersons trading on material non-public information, and by brokerstrading securities in anticipation of transactions by the Fund inparticular securities.Brokerage commissions and other transaction costs and related taxeson securities transactions in the Territories are generally higher thanin Western securities markets.Currency ExposureWhere the Investment Manager deems it appropriate to invest incompanies which earn revenues, have expenses or make distributionsin the currency of the relevant Territory, currency risks in connectiontherewith will be borne indirectly by investors. The potential lossresulting from unfavourable currency risks will be considered whenmaking investments.Corporate Legislation and JurisprudenceCorporate legislation in the Territories regarding the fiduciaryresponsibility of directors and officers and protection of shareholdersis significantly less developed than in the major Western jurisdictionsand may impose inconsistent or even contradictory requirements oncompanies. Some rights typically sought by Western investors maynot be available or enforceable. Also, the legal systems in some of theTerritories have not fully adapted to the requirements and standards ofan advanced market economy. The rudimentary state of commerciallaw, combined with a judiciary which lacks experience and knowledgeof market traditions and rules, makes the outcome of any potentialcommercial litigation unpredictable.Reporting StandardsAccounting, auditing and financial reporting standards andrequirements in the Territories are in many respects less stringent andless consistent than those applicable in many major Western countries.Less information is available to investors investing in such securitiesthan to investors investing in securities of companies in many majorWestern countries and the historic information which is available is notnecessarily comparable or relevant.TaxationTaxation of dividends and capital gains received by foreign investorsvaries among the Territories and, in some cases may be comparativelyhigh. Many of the Territories purport to offer preferential tax treatmentto foreign investors. Such preferences may apply only if a foreigninvestor’s equity stake in the relevant company exceeds a certainpercentage or meets other requirements. The Investment Managerwill take reasonable steps to mitigate the Fund’s tax liabilities.WarrantsWhen warrants are held, the Net Asset Value per Share may fluctuatemore than would otherwise be the case because of the greatervolatility of warrant prices.Risks Relating to Derivative Financial Instruments andTechniquesThe Fund may invest in derivative financial instruments, comprisingoptions, futures, index futures and currency forward contracts forhedging and efficient portfolio management, as more fully described inthe investment policy. There is a risk that the use of such instrumentswill not achieve the goals aimed at. Also, the use of swaps, portfolioswaps and other derivative contracts entered into by private agreementsmay create a counterparty risk for the Fund. This risk is mitigated by thefact that the counterparties must be institutions subject to prudentialsupervision and that the counterparty risk on a single entity must belimited in accordance with the investment restrictions.This Information Sheet forms an integral part of this Prospectus.The information contained in this Information Sheet should beread in conjunction with the full information contained in thisProspectus. In particular, investors should read the risk warningsset out in the section headed ‘Risk Factors’ above.52

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter China Sustainable GrowthInvestment ObjectiveTo achieve long term capital growth by investing in companies that areconsidered by the Investment Manager to be well positioned to benefitfrom secular trends associated with the environmentally, socially andeconomically sustainable development of Greater China.Investment PolicyThe Fund will seek to derive its returns through a portfolio of companiesthat conduct a material proportion of their business in Greater Chinaor derive a material proportion of their earnings from activities inGreater China.The Investment Manager will seek to identify the secular trendsrelated to important developments in Greater China’s economy. TheInvestment Manager will, as a result, target investments in companiesthat are both well positioned to benefit from the long term growthcharacteristics of their sectors and which are able to withstandcompetitive pressure on their operating margins.Key growth sectors within the Greater Chinese economy identified bythe Investment Manager for investment by the Fund include, withoutlimitation:• Energy – including clean and renewable energy systems, processand technologies for generation, supply and energy efficiency;• Water – including water and waste-water services includingsewerage infrastructure, waste-water treatment, water supplyand new technology-based solutions such as membranes and UVdisinfection;• Agriculture – including foodstuffs, agricultural supplies andlogistical services;• Transport – including integrated public transport systems,centralised logistics, vehicle emissions and energy efficiencycontrol systems and technologies;• Real Estate & Construction – including building and insulationmaterials and land management;• Waste Management – including waste reduction and associatedtechnologies, waste to energy and recycling; and• Healthcare & Education – including private health and educationservice providers and medical equipment manufacturers.The Fund is not a screened ‘green’ or socially responsible investment(‘SRI’) fund.Nevertheless, the Investment Manager considers that theenvironmentally, socially and economically sustainable attributes ofinvestee companies will be key economic indicators in the researchand stock selection process.The Fund will invest primarily in equity and equity related securities(including listed preference shares, listed convertible unsecured loanstock, listed warrants and other similar securities) of companies whichconduct a material proportion of their business in Greater China orderive a material proportion of their earnings from activities in GreaterChina. The Fund is entitled to invest up to 10% of its net assets incompanies which operate outside the key growth industry sectorsmentioned above.The Fund will invest predominantly in stock exchange listed sharesand securities but may invest up to 10% of its total assets in unlistedshares and securities. Details of the investment instruments whichmay be held by the Fund are set out on page 54.For the purposes of hedging and efficient portfolio management andsubject to the limits set out in the Investment Restrictions, the Fund willhave the ability: to hedge against directional risk using index futuresand/or cash; to hold bonds and warrants on transferable securities; touse options and futures; to enter into portfolio swaps; to use forwardcurrency contracts; and to hold liquid assets on an ancillary basis.Profile of the typical InvestorThis Fund may be suitable for investors with a broad attitude to risklooking for a long term investment opportunity in line with its InvestmentObjective and Policy. An investment in the Fund will not be suitablefor investors seeking solely an index-linked return on their investment.Investment in the Fund should be regarded as long term in nature andmay not be suitable as a short term investment. Typical investors inthe Fund are expected to be asset and wealth managers regulated orauthorised by the relevant local regulator, retail private clients who willinvest through suitably authorised intermediaries and private individualswho are experienced in making equity investments and who have theresources to withstand the risks associated with them.Base CurrencyUS Dollar.Launch Date11 December 2009.Currency of SubscriptionShares of each Class may be purchased in any freely convertiblecurrency at such conversion rates as may be determined by theCustodian and at the exchange rate risk of the investor, as more fullydescribed in the section headed ‘How to Subscribe’ in this Prospectus.Valuation DayEvery Business Day in Luxembourg.Dealing Deadline1.00pm (Luxembourg time) on every Valuation Day.Price Informationwww.jupiteronline.com and at the registered office of the Companyon every Valuation Day. Price information is also available on requestfrom the Distributors and from the Administrator in Luxembourg.ListingThere is currently no intention to list any Class of Shares on theLuxembourg Stock Exchange.Global ExposureThe global exposure of the Fund is calculated using theCommitment Approach.53

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter China Sustainable GrowthClass Name andClass CurrencyClass LEuroClass LUS DollarClass LSterlingClass IUS DollarSecurities Identification Number (ISIN) LU0329070675 LU0329070832 LU0329070758 LU0522853133WKN A0NBGU A0NBGW A0NBGV A1C1SEClearstream Common Code 32907067 32907083 32907075 52285313SEDOL B2961C1 B2961F4 B2961D2 B3K8ZJ8Initial Charge (up to) 5% 5% 5% 5%Management Fee (up to) 1.50% 1.50% 1.50% 0.75%Minimum Initial Investment €1,000 US$1,000 £1,000 US$10,000,000Minimum Incremental Investment €50 US$50 £50 US$250,000Minimum Holding €1,000 US$1,000 £1,000 US$10,000,000Performance Fee None None None NoneInitial Subscription Price at launch(before Initial Charge)Distribution PolicyAccumulationof Income€10 US$10 £10 US$10Accumulationof IncomeAnnual dividendwith automaticreinvestmentby defaultAccumulationof IncomeUK Reporting Fund No No Yes NoBenchmarkMSCI ZhongHua IndexMSCI ZhongHua IndexMSCI ZhongHua IndexMSCI ZhongHua IndexBenchmark Ticker Code* MXZH MXZH MXZH MXZH54

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter China Sustainable GrowthInvestment Instruments which may be held by JupiterChina Sustainable GrowthSubject to the limits set out in the Investment Restrictions, the Fundmay invest in the following:• China B-Shares – The Fund may invest in shares of companiesincorporated in mainland China that are traded in the mainlandB-Share markets. Unlike prices in the A-Share market, the pricesof B-Shares are quoted in foreign currencies. The China B-Sharemarket is composed of the Shanghai Stock Exchange (whichsettles in US Dollars) and the Shenzhen Stock Exchange (whichsettles in Hong Kong Dollars).• China H-Shares – The Fund may invest in shares of companiesincorporated in mainland China and listed on the Hong Kong StockExchange. H-Shares are traded in Hong Kong Dollars on theHong Kong Stock Exchange. H-shares are issued by companiesincorporated in mainland China, and must meet Hong Kong’s listingand disclosure requirements in order to be listed on the Hong KongStock Exchange. H-shares may be traded by foreigners and are oftenthe vehicle for extending a Chinese privatisation to foreign investors.• Red Chip Companies – The Fund may invest in shares ofcompanies with controlling Chinese shareholders that areincorporated outside mainland China and listed on the Hong KongStock Exchange. Red Chip shares are traded in Hong Kong Dollarson the Hong Kong Stock Exchange.• China-Related Companies – The Fund may invest in shares ofChina-related companies listed on the Hong Kong Stock Exchange,the Singapore Stock Exchange or other exchanges. A ‘Chinarelated’company is a company that (i) is organised in, or for whichthe principal securities trading market is in, China; or (ii) derivesor that is expected to derive 50% or more of its annual revenuesprimarily from either goods produced, sales made or servicesperformed in China.• Short Term Investments – The Fund may also invest in moneymarket and other short term debt securities and cash equivalents,which may be denominated in Renminbi.• China A-Shares – At present, subject to the limits set out in theInvestment Restrictions in this Information Sheet, the Fund maygain exposure to A-Shares of Chinese companies listed on theShanghai and Shenzhen Stock Exchanges indirectly by investingin participation notes (where the return on each participation noteis linked to the performance of a particular A-Share). Participationnotes are offered by regulated stockbrokers who provide suchproducts on the basis of their own existing qualified foreigninstitutional investors (‘QFII’) statuses. Any participation notes inwhich the Fund may invest will generally be in the form of loanparticipations. Investment in participation notes involves additionalrisks, including credit risk (against the issuer of the participationnote), interest rate risk and liquidity risk, as each is furtherdescribed under ‘Risk Factors’ on page 23 of this Prospectus. TheFund may currently seek exposure to China A-Shares throughparticipation notes. Such exposure will not exceed 10% of theNet Asset Value of the Fund. For the avoidance of doubt, theFund has not been assigned with QFII status and the InvestmentManager has not yet lodged an application for QFII status.• Short Term Investments – The Fund may also invest in moneymarket securities, short term debt securities and other cashequivalents, which may be denominated in Renminbi and othercurrencies.What is QFII Status?Currently, the equity of listed companies in mainland China seekingboth domestic and foreign capital includes A-Shares denominatedand traded in Renminbi and B-Shares denominated in Renminbi buttraded in either US Dollars or Hong Kong Dollars. Foreign investorshave historically been unable to participate in the A-Share market.However, investment regulations promulgated by the China SecuritiesRegulatory Commission (‘CSRC’) (the ‘Investment Regulations’)provide a legal framework for certain QFIIs, including certain fundmanagement institutions, insurance companies, securities companiesand other asset management institutions, to invest in A-Shares onthe Shanghai and Shenzhen Stock Exchanges and certain othersecurities historically not eligible for investment by non-Chineseinvestors, through quotas granted by the State Administration forForeign Exchange of the PRC (‘SAFE’) to those QFIIs which havebeen approved by the CSRC.A QFII may invest in stocks listed and traded on a stock exchange,bonds listed and traded on a stock exchange, securities investmentfunds, warrants listed and traded on a stock exchange, and otherfinancial instruments approved by the CSRC (due to technicalreasons, QFIIs currently cannot participate in the repurchase ofgovernment bonds and trading of corporate bonds). The CSRC grantsQFII licences to certain fund management institutions, insurancecompanies, securities companies and other asset managementinstitutions for investing in Chinese securities markets. Investmentcompanies are not currently within the types of companies that maybe granted a QFII licence.The Investment Manager may apply for a QFII licence upon successfulacceptance of which:• the Investment Manager would be authorised to invest in ChinaA-Shares and other permitted China securities on behalf of theFund up to a specified investment quota (the ‘A-Share Quota’); and• the Fund may invest through the Investment Manager or otherwisein A-Shares of Chinese companies listed on the Shanghai andShenzhen Stock Exchanges up to 30% of its net assets in ChinaA-Shares subject to applicable regulatory approval.Sustainability Assessment of Investments held by Jupiter ChinaSustainable GrowthThe Fund is not intended to form part of the suite of specialistscreened green and SRI products managed by the Jupiter Group. TheInvestment Manager will nevertheless benefit from specialist researchand analysis in relation to each of the Fund’s holdings from the SRI& Governance equity research team within the Investment Manager.The SRI & Governance Team will review companies within the Fund’sinvestment portfolio to assess whether they are actively improving theirsustainability performance through their products and processes forthe commercial benefit of the companies concerned. Their focus willbe on the key environmental or social issues that they believe have thepotential to affect the Fund’s financial performance or risk profile.55

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter China Sustainable GrowthInvestment Instruments which may be held by JupiterChina Sustainable Growth continuedSustainability Assessment of Investments held by Jupiter ChinaSustainable Growth continuedThe Investment Manager will not be bound to sell or preclude anyinvestment from the Fund’s investment portfolio as a consequence ofadverse research findings by the SRI & Governance Team. However,positive results are likely to be considered to be a positive indicator ofother attractive investment attributes. The Investment Manager andthe Fund expressly acknowledge that the strict screening that hasenabled the development of green and SRI funds in European andother Western economies is not suitable for investment in China.The sustainability assessment begins with a review of all publiclyavailable information on a company’s sustainability profile, includinginformation on a company’s own website or information reported togovernmental agencies. The Investment Manager then considers acompany’s industry to determine what environmental challenges arefacing that industry. Factors that the Investment Manager considersduring this process include:• Environmental policy and management system;• Regulatory compliance;• Waste reduction and management;• Resource efficiency;• Environmental attributes of products;• Environmental purchasing considerations, and• Worker environment, health and safety programmes.The Investment Manager sees its environmental and governanceresearch as an opportunity to create a more comprehensiveunderstanding of a company. The research helps understand how acompany approaches its environmental responsibilities and whetherconsideration is being given to both long term risks and opportunities.The Investment Manager believes that companies that are managingboth environmental risks and opportunities operate the mostsustainable businesses and will also make the best investments overthe long term.Risk Factors specific to Jupiter China Sustainable GrowthCountry RiskInvesting in equities of companies with substantial assets in orrevenues derived from China involves special considerations andcertain risks not typically associated with more developed markets oreconomies. The risks inherent in China can generally be expectedto result in increased volatility in the shares of companies in greaterChina and portfolios which invest in them when compared to theircounterparts in developed markets. Investment companies investingin China generally can be expected to display greater share price andNet Asset Value volatility than those investing in developed markets.The Fund’s investments are subject to country specific risk factors dueto the concentrated strategy of investment in companies that derive asignificant share of their business from activities within the People’sRepublic of China:• Legal Risk – The legal system of the People’s Republic of China(‘PRC’) is based on the PRC Constitution and is made up of writtenlaws, regulations, circulars and directives which may not afford theCompany the same level of certainty in relation to matters suchas contracts and disputes as may be available in more developedmarkets. Accordingly, in such circumstances the returns to theFund may be materially and adversely affected.• Changes in Government Policies and the RegulatoryEnvironment – Certain investments of the Fund may be subjectto PRC laws and regulations and policies implemented by the PRCgovernment from time to time. PRC government policies may havea material impact on the industries in which the Fund invests. If anycompany in which the Fund invests should become subject to anyform of negative governmental control, there could be a materialadverse effect on the value of the Fund’s investments.The PRC government is still in the process of developing its legalsystem, so as to meet the needs of investors and to encourageforeign investment. As the PRC economy is developing generallyat a faster pace than its legal system, some degree of uncertaintyexists in the application of the existing laws and regulations to certainevents or circumstances. Some of the laws and regulations, and theinterpretation, implementation and enforcement thereof, are still atthe experimental stage and are therefore subject to policy changes.Furthermore, precedents on the interpretation, implementation andenforcement of the PRC laws and regulations are limited, and courtdecisions in the PRC are not binding on lower courts. Accordingly,the outcome of dispute resolutions may not be as consistent orpredictable as in other more developed jurisdictions. It may alsobe difficult to obtain swift and equitable enforcement of the laws inthe PRC or the enforcement of a judgement by a court of anotherjurisdiction. The Company recognises that making investments inPRC companies entails certain ambiguities and risks. The lack ofconsistency and predictability in the outcome of dispute resolutions,the lack of certainty in the interpretation, implementation andenforcement of the PRC laws and regulations and political system,may affect returns to Shareholders.• Economic Considerations – The PRC has a long history ofpre-planned economic policy and is subject to one, five and 10year plans formulated by the PRC government. In recent years, thePRC government has introduced various economic reforms aimedat transforming the PRC economy from a planned economy intoa market economy with socialist characteristics. These economicreforms allow greater utilisation of market forces in the allocationof resources and greater autonomy for enterprises in theiroperations. However, many rules and regulations implemented bythe PRC government are still at an early stage of development,and further refinements and amendments are necessary to enablethe economic system to develop into a more sophisticated form.Further, there can be no assurance that such measures will beapplied consistently and effectively or that the Fund’s investmentreturns will not be adversely affected by such reforms. The PRCgovernment has only recently encouraged substantial privateeconomic activity and there can be no assurance that the PRCgovernment’s pursuit of economic reforms will be consistent oreffective. However, it is considered that the PRC’s admittance intothe World Trade Organisation will encourage the PRC governmentto continue to pursue its current strategy of encouraging privateeconomic activity. Many of the reforms are unprecedented orin an experimental stage and are expected to be refined andmodified in order to enable the economic system to developinto a more sophisticated form. There is no assurance that thecontinued introduction of such reforms will not have a materialand adverse effect on the returns on the Fund’s investments.56

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter China Sustainable GrowthRisk Factors specific to Jupiter China Sustainable GrowthcontinuedIn addition, the economy of the PRC differs from the economiesof most developed countries in many respects, including theamount of governmental involvement, the level of development,the growth rate, the controls on foreign exchange and allocation ofresources. The economy of the PRC has experienced significantand consistent growth in the past 20 years but growth has beenuneven both geographically and among various sectors of theeconomy. Economic growth has been accompanied by a periodof high inflation. The PRC government has implemented variousmeasures from time to time to control inflation and restrain the rateof economic growth.• Devaluation or Appreciation in the Value of the Renminbi,Restrictions on Convertibility of the Renminbi and ExchangeControl Restrictions in the PRC – The external value of theRenminbi is subject to changes in policies of the PRC governmentand to international economic and political developments. Thereis therefore a risk that fluctuations in the Renminbi exchange ratemay be experienced and any large movement in the value of theRenminbi against the US Dollar could have an adverse effect onthe Fund’s portfolio of Chinese investments.• Tax Uncertainty – Tax laws and regulations in China are underconstant development and often subject to change as a result ofchanging government policy. Such changes may occur withoutsufficient warning. There is a risk that changes in tax policy andregulations may adversely affect the Fund’s return on investments.• Increased brokerage commissions and transaction charges –Brokerage commissions and other transaction costs and custodyfees are generally higher in China than they are in Westernsecurities markets.• Investments in A-Shares – The Shanghai and Shenzhen StockExchanges divide listed shares into two classes: A-Shares andB-Shares. A-Shares are traded on the Shanghai and ShenzhenStock Exchanges in Chinese currency with all repatriations ofgains and income requiring the approval of SAFE. B-Shares aretraded on the Shenzhen and Shanghai Stock Exchanges in HongKong Dollars and US Dollars, respectively. QFII historically wereunable to participate in the A-Share market. However, pursuant toan administrative notice issued by the CSRC on 24 August 2006implementing the Investment Regulations, a QFII may investin stocks listed and traded on a stock exchange, bonds listedand traded on a stock exchange, securities investment funds,warrants listed and traded on a stock exchange and other financialinstruments approved by the CSRC. Restrictions continue to existand capital therefore cannot flow freely into the A-Share market. Asa result it is possible that in the event of a market disruption, theliquidity of the A-Share market and trading prices of A-Shares couldbe more severely affected than the liquidity and trading prices ofmarkets where securities are freely tradable and capital thereforeflows more freely. The Company cannot predict the nature orduration of such a market disruption or the impact that it may haveon the A-Share market and the short term and long term prospectsof its investments in the A-Share market. The Chinese governmenthas in the past taken actions that benefited holders of A-Shares, inwhich the Chinese government waived a withholding tax on profitsgenerated from investments in A-Shares albeit that such a taxcould be levied pursuant to applicable Chinese law. As A-Sharesbecome more available to foreign investors, such as the Fund, theChinese government may be less likely to take action that wouldbenefit holders of A-Shares.Definitions used in this Information Sheet• ‘Greater China’ means China, Hong Kong, Macau and Taiwan;and• ‘Renminbi’ means the legal currency of the PRC from time to time.This Information Sheet forms an integral part of this Prospectus.The information contained in this Information Sheet should beread in conjunction with the full information contained in thisProspectus. In particular, investors should read the risk warningsset out in the section headed ‘Risk Factors’ above.57

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter India SelectInvestment ObjectiveTo achieve long term capital growth through investment primarily inIndia and selected opportunities in Pakistan, Bangladesh, Sri Lanka,Bhutan, Nepal and the Maldives.Investment PolicyThe Fund’s investment policy is to achieve the objective by investingprimarily in companies operating or residing in India and selectedopportunities in Pakistan, Bangladesh, Sri Lanka, Bhutan, Nepaland the Maldives. The Fund may also invest in securities of Indiancompanies listed on international stock exchanges and depositaryreceipts representing securities of Indian companies. Subject tothe limits set out in the Investment Restrictions the Fund may alsoinvest in UCITS or other UCIs which are themselves dedicated toinvestments in the markets of the countries listed above. The Fundshall be free to invest in companies which are established outsidethose countries identified above, which in the Investment Manager’sopinion, conduct a material proportion of their business in one or moreof those countries.The Fund will invest primarily in companies which have their registeredoffice or exercise the predominant part of their economic activities in(or, in the case of UCITS or other UCIs, are dedicated to investmentsin) India. The Fund is entitled to invest up to 10% of its net assetsin companies which operate or reside outside the investment scopedefined above.Subject to the limits set out in the Investment Restrictions, the Fund willhave the ability: to hedge against directional risk using index futuresand/or cash; to hold bonds and warrants on transferable securities; touse options and futures for hedging purposes and for efficient portfoliomanagement; to enter into portfolio swaps; to use forward currencycontracts; and to hold liquid assets on an ancillary basis.Base CurrencyUS Dollar.Launch Date2 May 2008.Currency of SubscriptionShares of each Class may be purchased in any freely convertiblecurrency at such conversion rates as may be determined by theCustodian and at the exchange rate risk of the investor, as more fullydescribed in the section headed ‘How to Subscribe’ in this Prospectus.Valuation DayEvery Business Day in Luxembourg.Dealing Deadline1.00pm (Luxembourg time) on every Valuation Day.Price Informationwww.jupiteronline.com and at the registered office of the Companyon every Valuation Day. Price information is also available on requestfrom the Distributors and from the Administrator in Luxembourg.ListingThere is currently no intention to list any Class of Shares on theLuxembourg Stock Exchange.Global ExposureThe global exposure of the Fund is calculated using theCommitment Approach.Mauritian SubsidiaryA Mauritius subsidiary, wholly owned by the Fund, may be used tofacilitate an efficient means of investing.Profile of the typical InvestorThis Fund may be suitable for investors with a broad attitude to risklooking for a long term investment opportunity in line with its InvestmentObjective and Policy. An investment in the Fund will not be suitablefor investors seeking solely an index-linked return on their investment.Investment in the Fund should be regarded as long term in nature andmay not be suitable as a short term investment. Typical investors inthe Fund are expected to be asset and wealth managers regulated orauthorised by the relevant local regulator, retail private clients who willinvest through suitably authorised intermediaries and private individualswho are experienced in making equity investments and who have theresources to withstand the risks associated with them.58

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter India SelectClass Name and Class CurrencyClass LEuroClass LUS DollarClass LSterlingSecurities Identification Number (ISIN) LU0329070915 LU0365089902 LU0329071053WKN A0NBGX A0Q2X7 A0NBGYClearstream Common Code 32907091 36508990 32907105SEDOL B2961G5 B39Q902 B2961H6Initial Charge (up to) 5% 5% 5%Management Fee (up to) 1.75% 1.75% 1.75%Minimum Initial Investment €1,000 US$1,000 £1,000Minimum Incremental Investment €50 US$50 £50Minimum Holding €1,000 US$1,000 £1,000Performance Fee None None NoneInitial Subscription Price at launch(before Initial Charge)Distribution PolicyAccumulationof Income€10 US$126.08 £10Annual dividend withautomatic reinvestmentby defaultAnnual dividend withautomatic reinvestmentby defaultUK Reporting Fund No Yes YesBenchmarkMSCI Gross Emerging MarketsIndia Index(Total Return)MSCI Gross Emerging MarketsIndia Index(Total Return)MSCI Gross Emerging MarketsIndia Index(Total Return)Benchmark Ticker Code GDUESIA GDUESIA GDUESIA59

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter India SelectAdditional Information Relating to Jupiter India SelectOn 2 May 2008 the Company acquired the whole capital of PeninsularSouth Asia Investment Company Limited. As a result, PeninsularSouth Asia Investment Company Limited has become a whollyownedsubsidiary of the Company (‘the Mauritius Subsidiary’).The Mauritius Subsidiary was originally incorporated under the nameof GEM Dolphin South Asia Investment Company Limited in 1995and changed its name on 21 January 2009 from Peninsular SouthAsia Investment Company Limited to Jupiter South Asia InvestmentCompany Limited. Jupiter South Asia Investment Company Limited islicensed under the Financial Services Act 2007. Prior to its acquisitionby the Company, the Mauritius Subsidiary was not subject to theconstraints set out in the UCITS Directive in relation to its investments.However, the Board of Directors consider that its performance trackrecord would not have been materially different if it had been subjectto such restrictions throughout its life and, consequently the Boardof Directors consider it to be appropriate for the performance trackrecord of the Mauritius Subsidiary to be identified alongside the trackrecord of the US Dollar L Class of the Fund with effect from 2 May2008. This date will be clearly identified in any marketing materialsproduced for the Fund which refer to the transition for the performancetrack record.The directors of the Mauritius Subsidiary are:• Adrian Creedy – Chief Operating Officer and Company Secretary,Jupiter Fund Management PLC, London;• Jacques Elvinger – Partner, Elvinger, Hoss & Prussen, Luxembourg;• Deven Coopoosamy – Head of Business Development, Cim FundServices Ltd, Mauritius; and• Mahmood Bashir Nabeebokus – Senior Manager FundAdministration, Cim Fund Services Ltd, Mauritius.The directors of the Mauritius Subsidiary are responsible forestablishing the investment policy and restrictions of the MauritiusSubsidiary and for monitoring its operations. The Mauritius Subsidiaryadheres to the investment policy and restrictions contained inthis Prospectus which apply to The Jupiter Global Fund – JupiterIndia Select and the Company on a collective basis. The MauritiusSubsidiary carries out exclusively activities consistent with passiveinvestment on behalf of the Company and The Jupiter Global Fund –Jupiter India Select.The Mauritius Subsidiary holds a substantial proportion of the assetsof The Jupiter Global Fund – Jupiter India Select to facilitate efficientportfolio management of the assets by utilising a tax efficient meansof investing in Indian securities. The Mauritius Subsidiary has receiveda tax residence certificate from the Commissioner of Income Tax inMauritius, on which basis the Mauritius Subsidiary should be entitledto appropriate relief under the India/Mauritius Double Taxation Treaty.The Mauritius Subsidiary makes direct investment in India.The Mauritius Subsidiary has appointed Multiconsult Ltd., Mauritiusto provide company secretarial and administrative services, includingmaintenance of accounts, books and records. Multiconsult Ltd. isincorporated in Mauritius and is licensed by the Mauritius FinancialServices Commission to provide, inter alia, company managementservices to offshore companies. The Mauritius Subsidiary hasappointed the Custodian as custodian and the Custodian hasappointed HSBC, Mumbai and HSBC Bank (Mauritius) Limited as itscorrespondents. Ernst & Young, Mauritius has been appointed auditorof the Mauritius Subsidiary.As a wholly-owned subsidiary of the Company all assets and liabilities,income and expenses of the Mauritius Subsidiary are consolidated in thestatement of net assets and operations of the Company. All investmentsheld by the Mauritius Subsidiary are disclosed in the accounts of theCompany. All cash, securities and other assets of the MauritiusSubsidiary are held by the Custodian on behalf of the Company.The use of the Mauritian subsidiary and the tax treatment afforded toit is based on the law and practice currently in force in the relevantcountries as understood by the Directors after making all reasonableenquiries. It is subject to any future changes and such changesmay adversely affect the returns of the Fund. This includes anycircumstances where the India Mauritius Double Tax Treaty may notor ceases to be applied, resulting from, inter alia, any future rulingby the Indian tax authorities. Should the Indian Mauritius Double TaxTreaty cease to apply, dividends on securities listed on an Indian stockExchange (earned by the Mauritian subsidiary being treated as aForeign Institutional Investor) would be subject to tax at a rate of 20%.Capital gains on disposal of such investments would be subject to taxat rates of 15% or 0% in respect of listed securities depending on thelength of time the relevant investment has been held.Furthermore, while the Financial Services Commission of Mauritiushas issued guidelines indicating that tax residence certificates arerenewable on a yearly basis, there is no guarantee of renewal everyyear. If the Mauritian subsidiary’s tax certificate is not renewed, theMauritian subsidiary may lose its benefits under the double tax treatyand the Fund would suffer adverse tax consequences.Risk Factors specific to Jupiter India SelectRegistrationThe Mauritius Subsidiary is registered with the Securities ExchangeBoard of India as a Foreign Institutional Investor and as asub-account enabling it to carry on investment activities in the Indiansecurities market.Emerging and Less Developed MarketsIn emerging and less developed markets, the legal, judicial andregulatory infrastructure is still developing but there is much legaluncertainty both for local market participants and their overseascounterparts. Some markets may carry higher risks for investors whoshould therefore ensure that, before investing, they understand therisks involved and are satisfied that an investment is suitable as partof their portfolio. Investments in emerging and less developed marketsshould be made only by sophisticated investors or professionals whohave independent knowledge of the relevant markets, are able toconsider and weigh the various risks presented by such investments,and have the financial resources necessary to bear the substantial riskof loss of investment in such investments.SAARC Region Securities MarketThe South Asia Association for Regional Co-operation* (the ‘SAARCregions’) stock exchanges and markets have experienced substantialfluctuations in the prices of securities, and no assurance can begiven that such volatility will not continue in the future. In addition,certain of the SAARC regions stock exchanges and markets havebeen subject to temporary closures, broker defaults, failed trades andsettlement delays. Certain governing bodies of stock exchanges canimpose restrictions on trading in certain securities, limitations on pricemovements and margin requirements. The SAARC region’s securities*Members of the South Asia Association for Regional Co-Operation are India,Pakistan, Bangladesh, Sri Lanka, Bhutan, Nepal and the Maldives.60

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter India SelectSAARC Region Securities Market continuedmarkets are undergoing a period of growth and changes which maylead to difficulties in settlement and recording of transactions and ininterpreting and applying the relevant regulations. In addition, thereis a low level of regulation and enforcement activity in such securitiesmarkets. Certain regulatory authorities have only recently been giventhe power and duty to prohibit fraudulent and unfair trade practicesrelating to securities markets, including insider trading, and to regulatesubstantial acquisitions of shares and takeovers of companies.Certain securities markets in the SAARC region are not subject tosuch restrictions.A disproportionately large percentage of market capitalisation andtrading volume in the stock exchanges and markets in the SAARCregion is represented by a relatively small number of issues.Significant delays have been common in settling trade on certain stockexchanges and registering transfers of securities. The above factorscould negatively affect the Net Asset Value of the Fund, the ability toredeem the Fund’s shares and the price at which the Fund’s Sharesmay be redeemed.Market CharacteristicsThe disclosure and regulatory standards applicable to Indian companiesare in many respects less stringent than in other, more developed,equity markets. Accounting, auditing and financial standards are alsoless rigorous. The securities market in India is smaller, less liquid andmore volatile than more developed stock markets. The equities ofsmaller or medium-sized Indian companies may be less marketablethan securities of similar companies traded on more developed marketsand such investments may carry a higher risk than investments inlarger Indian companies. Indian stock exchanges have in the pastbeen subject to temporary closures, broker defaults and failed trades.In particular, the settlement systems in the Indian Stock Exchangesare less developed and less reliable than settlement systems in moremature markets and vary considerably between exchanges.Political and Economic ConsiderationsThe Fund may be affected by political and economic developmentsin or affecting the SAARC region, including changes in governmentpolicy, taxation and social, ethnic and religious instability. Theeconomies of the countries in the SAARC region may differ, favourablyand unfavourably, from economies in more industrialised countries insuch respects as gross domestic product, rates of inflation, currencydepreciation, capital reinvestment, resource self sufficiency andbalance of payments position. The economies in the SAARC regionare heavily dependent upon international trade and accordingly havebeen and may continue to be adversely affected by trade barriers,exchange controls and other protectionist measures imposed ornegotiated by the countries with which they trade.India’s population comprises diverse religious and linguistic groupsand has been subject to periods of considerable ethnic and religioustension. The government continues to exercise significant influenceover many aspects of the economy and there can be no assurancethat there will be no change in policies implemented by the present orany future government.The current regional tensions and/or any escalations therein includingany conflicts, could adversely affect the Fund and/or those companiesin which it invests and/or could impair the ability of the Fund torealise its investments and/or repatriate the proceeds or returns fromsuch investments.WarrantsWhen warrants are held, the Net Asset Value per Share may fluctuatemore than would otherwise be the case because of the greatervolatility of warrant prices.Risks Relating to Derivative Financial Instruments andTechniquesThe Fund may invest in derivative financial instruments, comprisingoptions, futures, index futures and currency forward contracts forhedging and efficient portfolio management, as more fully describedon page 20 of the Prospectus. There is a risk that the use of suchinstruments will not achieve the goals aimed at. Also, the use of swaps,portfolio swaps and other derivative contracts entered into by privateagreements may create a counterparty risk for the Fund. This risk ismitigated by the fact that the counterparties must be institutions subjectto prudential supervision and that the counterparty risk on a single entitymust be limited in accordance with the investment restrictions.This Information Sheet forms an integral part of this Prospectus.The information contained in this Information Sheet should beread in conjunction with the full information contained in thisProspectus. In particular, investors should read the risk warningsset out in the section headed ‘Risk Factors’ above.61

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Global Property SecuritiesInvestment ObjectiveThe investment objective of the Fund is to achieve long term capitalgrowth through investing in property company shares on a global basis.Investment PolicyThe Fund will invest primarily in an international portfolio ofProperty Securities.‘Property Securities’ means all types of property securities andproperty-related securities including (but not limited to) equities,asset-backed securities (subject to a maximum exposure of 20% ofthe Fund’s net assets), preference shares, convertible securities,private finance initiative funds, units issued by Real Estate InvestmentTrusts (‘REITs’) and other companies whose principal business isfinancing, dealing, holding, developing and managing real estateand which are located around the world. REITs are closed-endedcompanies, the shares of which are listed on a stock exchange, whichinvest a significant portion of their assets directly in real estate andwhich profit from a special and favourable tax regime. Any REITs heldby the Fund will qualify as ‘transferable securities’ in accordance withthe Luxembourg Grand-Ducal Regulations of 8 February 2008.Subject to the limits set out in the Investment Restrictions, the Fund willhave the ability: to hedge against directional risk using index futuresand/or cash; to hold bonds and warrants on transferable securities; touse options and futures for hedging purposes and for efficient portfoliomanagement; to enter into portfolio swaps; to use forward currencycontracts; and to hold liquid assets on an ancillary basis.The Fund will be free to invest in any particular market or anyparticular sector worldwide and may invest in small, mid or largecapitalisation companies.Profile of the typical InvestorThis Fund may be suitable for investors with a broad attitude to risklooking for a long term investment opportunity in line with its InvestmentObjective and Policy. An investment in the Fund will not be suitablefor investors seeking solely an index-linked return on their investment.Investment in the Fund should be regarded as long term in nature andmay not be suitable as a short term investment. Typical investors inthe Fund are expected to be asset and wealth managers regulated orauthorised by the relevant local regulator, retail private clients who willinvest through suitably authorised intermediaries and private individualswho are experienced in making equity investments and who have theresources to withstand the risks associated with them.Base CurrencyUS Dollar.Launch DateTo be launched on such date as may be determined by the Boardof Directors.Currency of SubscriptionShares of each Class may be purchased in any freely convertiblecurrency at such conversion rates as may be determined by theCustodian and at the exchange rate risk of the investor, as more fullydescribed in the section headed ‘How to Subscribe’ in this Prospectus.Valuation DayEvery Business Day in Luxembourg.Dealing Deadline1.00pm (Luxembourg time) on every Valuation Day.Price Informationwww.jupiteronline.com and at the registered office of the Companyon every Valuation Day. Price information is also available on requestfrom the Distributors and from the Administrator in Luxembourg.ListingThere is currently no intention to list any Class of Shares on theLuxembourg Stock Exchange.Global ExposureThe global exposure of the Fund is calculated using theCommitment Approach.62

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Global Property SecuritiesClass Name and Class CurrencyClass LEuroClass LUS DollarClass LSterlingSecurities Identification Number (ISIN) LU0425092565 LU0425092722 LU0425092649WKN A0RMWV A0RMWX A0RMWWClearstream Common Code 42509256 42509272 42509264SEDOL B3XFJ94 B3XFJV6 B3XFJS3Initial Charge (up to) 5% 5% 5%Management Fee (up to) 1.50% 1.50% 1.50%Minimum Initial Investment €1,000 US$1,000 £1,000Minimum Incremental Investment €50 US$50 £50Minimum Holding €1,000 US$1,000 £1,000Performance Fee 3Initial Subscription Price at launch(before Initial Charge)Distribution Policy15% of the outperformanceof the NAV per Shareover Benchmark.A High Watermark applies.Accumulationof Income15% of the outperformanceof the NAV per Shareover Benchmark.A High Watermark applies.15% of the outperformanceof the NAV per Shareover Benchmark.A High Watermark applies.€10 US$10 £10Accumulationof IncomeAnnual dividend with automaticreinvestment by defaultUK Reporting Fund No No YESBenchmarkMSCI AC World Daily TRGross Real EstateIndustry GroupMSCI AC World Daily TRGross Real EstateIndustry GroupMSCI AC World Daily TRGross Real EstateIndustry GroupBenchmark Ticker Code GDUCRE GDUCRE GDUCRE3For the purposes of calculating the performance fee, where any Class is denominated in a currency other than that of the Benchmark, if relevant, the Benchmark willbe redenominated into the currency of that Class.63

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Global Property SecuritiesRisk Factors specific to Jupiter Global Property SecuritiesThe Fund will not invest in property directly but, as a result of theFund’s policy of investing in Property Securities, the Fund will havean indirect exposure to the risks associated with direct propertyownership. These include: property being a relatively illiquid assetclass; property assets being inherently subjective in value due to theindividual nature of each property; extended lay periods in tenantedproperties; tenant credit risk; an excess supply of property as a resultof overdevelopment; changes in planning law and practice; changesin property taxation or transaction costs; the availability of purchaseor development finance to the sector or in the geographical regionconcerned; and increases in interest rates. However, as each of theFund’s investments will generally represent a portfolio in its own right,and having regard to the diversified nature of the Fund’s own portfolio,the Fund’s exposure to any individual property or tenant is expectedto be relatively low.Investment by the Fund in Property Securities also carries specificrisks including the following: movements in, or changes in sentimenttowards, property markets may result in disproportionate moves in thevalue of Property Securities; and REITs and/or property companiesmay be highly geared and subject to the risks associated with debtfinancing and the credit risk associated with the issuer of propertyrelatedsecurities.The Investment Manager may invest part of the Fund’s portfolio inREITs (real estate investment trusts or similar investment vehiclesfor real estate assets designed to offer tax transparency to investors)and/or other similar investment funds. The investment by the Fundin such funds will increase the aggregate management chargesborne by Shareholders; however, such investments are made withthe expectation that these will be outweighed by lower costs andincreased flexibility compared to holding property assets directly.Important Information for UK ShareholdersThe Fund will not be able to recover any UK tax credit associated withdividends that the Fund may receive from investee companies, suchas REITS, which are themselves tax resident in the UK.Furthermore, under the current offshore funds rules applicable inthe UK, any return generated by the Fund on investments in ‘nondistributing’ funds (as described on page 10 above) will be consideredto be income for UK tax purposes and will therefore fall to be distributedby way of dividend to investors in the Sterling UK Distributing Class(only) in accordance with the Fund’s stated dividend policy.Any change in the Fund’s tax status or in taxation legislation (includingthe tax treatment of dividends or other investment income received bythe Fund) could affect the value of the investments held by the Fundand/or affect the Fund’s ability to provide returns to Shareholders oralter the post-tax returns to Shareholders.The Fund may purchase investments that may be subject to exchangecontrols or withholding taxes in various jurisdictions. In the event thatexchange controls or withholding taxes are imposed with respect toany of the Fund’s investments, the effect will generally be to reducethe income received by the Fund on its investments and/or the capitalvalue of the affected investments. This in turn may reduce the level ofdividends received by Shareholders.Statements in this Prospectus concerning taxation are based oncurrent taxation law and what is understood by the Directors to becurrent practice, both of which are subject to change, possibly withretrospective effect. In any event, the taxation of an investment in theFund will depend on the individual circumstances of the investor, andprospective investors who are in any doubt should consult their taxadvisers before making an investment in the Fund.This Information Sheet forms an integral part of this Prospectus.The information contained in this Information Sheet should beread in conjunction with the full information contained in thisProspectus. In particular, investors should read the risk warningsset out in the section headed ‘Risk Factors’ above.64

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Japan SelectInvestment ObjectiveThe investment objective of the Fund is to achieve long term capitalgrowth through investing primarily in Japan and in selected opportunitiesin Asia.Investment PolicyThe Fund will invest primarily in equity and equity related securities(including listed preference shares, listed convertible unsecured loanstock, listed warrants and other similar securities) of companies whichhave their registered office or exercise the predominant part of theireconomic activities in Japan (or, in the case of UCITS or other UCIs,are dedicated to investments in Japan). Up to 20% of the Fund’sassets (excluding liquid assets) may at any time be invested in otherAsian investments.Subject to the limits set out in the Investment Restrictions, the Fund willhave the ability: to hedge against directional risk using index futuresand/or cash; to hold bonds and warrants on transferable securities; touse options and futures for hedging purposes and for efficient portfoliomanagement; to enter into portfolio swaps; to use forward currencycontracts; and to hold liquid assets on an ancillary basis.Profile of the typical InvestorThis Fund may be suitable for investors with a broad attitude to risklooking for a long term investment opportunity in line with its InvestmentObjective and Policy. An investment in the Fund will not be suitablefor investors seeking solely an index-linked return on their investment.Investment in the Fund should be regarded as long term in nature andmay not be suitable as a short term investment. Typical investors inthe Fund are expected to be asset and wealth managers regulated orauthorised by the relevant local regulator, retail private clients who willinvest through suitably authorised intermediaries and private individualswho are experienced in making equity investments and who have theresources to withstand the risks associated with them.Base CurrencyUS Dollar.Launch Date1 July 2009.Currency of SubscriptionShares of each Class may be purchased in any freely convertiblecurrency at such conversion rates as may be determined by theCustodian and at the exchange rate risk of the investor, as more fullydescribed in the section headed ‘How to Subscribe’ in this Prospectus.Valuation DayEvery Business Day in Luxembourg.Dealing Deadline1.00pm (Luxembourg time) on every Valuation Day.Price Informationwww.jupiteronline.com and at the registered office of the Companyon every Valuation Day. Price information is also available on requestfrom the Distributors and from the Administrator in Luxembourg.ListingThere is currently no intention to list any Class of Shares on theLuxembourg Stock Exchange.Global ExposureThe global exposure of the Fund is calculated using theCommitment Approach.65

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Japan SelectClass Name and Class CurrencyClass LEuroClass LUS DollarClass LSterlingSecurities Identification Number (ISIN) LU0425092995 LU0425093290 LU0425093027WKN A0RMWY A0RMW0 A0RMWZClearstream Common Code 42509299 42509329 42509302SEDOL B53V2Y2 B53V305 B53V2Z3Initial Charge (up to) 5% 5% 5%Management Fee (up to) 1.50% 1.50% 1.50%Minimum Initial Investment €1,000 US$1,000 £1,000Minimum Incremental Investment €50 US$50 £50Minimum Holding €1,000 US$1,000 £1,000Performance Fee None None NoneInitial Subscription Price at launch(before Initial Charge)Distribution PolicyAccumulationof Income€10 US$10 £10Accumulationof IncomeAnnual dividend withautomatic reinvestmentby defaultUK Reporting Fund No No YesBenchmark Japan TOPIX Index Japan TOPIX Index Japan TOPIX IndexBenchmark Ticker Code TPX TPX TPXThis Information Sheet forms an integral part of this Prospectus. The information contained in this Information Sheet should be read inconjunction with the full information contained in this Prospectus. In particular, investors should read the risk warnings set out in thesection headed ‘Risk Factors’ above.66

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter North American EquitiesInvestment ObjectiveThe investment objective of the Fund is to achieve long term capitalgrowth through investing primarily in North American securities.Investment PolicyThe Fund will invest primarily in equity and equity related securities(including listed preference shares, listed convertible unsecured loanstock, listed warrants and other similar securities) of companies whichhave their registered office or exercise the predominant part of theireconomic activities in North America. The portfolio will principallycomprise of companies in sectors and geographical areas whichare considered by the Investment Manager to offer goodprospects for capital growth, taking into account economic trends andbusiness developments.Subject to the limits set out in the Investment Restrictions, the Fund willhave the ability: to hedge against directional risk using index futuresand/or cash; to hold bonds and warrants on transferable securities; touse options and futures for hedging purposes and for efficient portfoliomanagement; to enter into portfolio swaps; to use forward currencycontracts; and to hold liquid assets on an ancillary basis.Profile of the typical InvestorThis Fund may be suitable for investors with a broad attitude to risklooking for a long term investment opportunity in line with its InvestmentObjective and Policy. An investment in the Fund will not be suitablefor investors seeking solely an index-linked return on their investment.Investment in the Fund should be regarded as long term in nature andmay not be suitable as a short term investment. Typical investors inthe Fund are expected to be asset and wealth managers regulated orauthorised by the relevant local regulator, retail private clients who willinvest through suitably authorised intermediaries and private individualswho are experienced in making equity investments and who have theresources to withstand the risks associated with them.Base CurrencyUS Dollar.Launch Date16 November 2009.Currency of SubscriptionShares of each Class may be purchased in any freely convertiblecurrency at such conversion rates as may be determined by theCustodian and at the exchange rate risk of the investor, as more fullydescribed in the section headed ‘How to Subscribe’ in this Prospectus.Valuation DayEvery Business Day in Luxembourg.Dealing Deadline1.00pm (Luxembourg time) on every Valuation Day.Price Informationwww.jupiteronline.com and at the registered office of the Companyon every Valuation Day. Price information is also available on requestfrom the Distributors and from the Administrator in Luxembourg.ListingThere is currently no intention to list any Class of Shares on theLuxembourg Stock Exchange.Global ExposureThe global exposure of the Fund is calculated using theCommitment Approach.67

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter North American EquitiesClass Name and Class CurrencyClass LEuroClass LUS DollarClass LSterlingSecurities Identification Number (ISIN) LU0425093456 LU0425093704 LU0425093530WKN A0RMW1 A0RMW3 A0RMW2Clearstream Common Code 42509345 42509370 42509353SEDOL B3XFKB3 B3XFKW4 B3XFKD5Initial Charge (up to) 5% 5% 5%Management Fee (up to) 1.50% 1.50% 1.50%Minimum Initial Investment €1,000 US$1,000 £1,000Minimum Incremental Investment €50 US$50 £50Minimum Holding €1,000 US$1,000 £1,000Performance Fee None None NoneInitial Subscription Price at launch(before Initial Charge)Distribution PolicyAccumulationof Income€10 US$10 £10Accumulationof IncomeAnnual dividend withautomatic reinvestmentby defaultUK Reporting Fund No No YesBenchmark S&P 500 Index S&P 500 Index S&P 500 IndexBenchmark Ticker Code SPX SPX SPXThis Information Sheet forms an integral part of this Prospectus. The information contained in this Information Sheet should be read inconjunction with the full information contained in this Prospectus. In particular, investors should read the risk warnings set out in thesection headed ‘Risk Factors’ above.68

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter UK EquitiesInvestment ObjectiveThe investment objective of the Fund is to achieve long term capitalgrowth through investing primarily in any economic sector principallyin the UK.Investment PolicyThe Fund will invest primarily in equity and equity related securities(including listed preference shares, listed convertible unsecured loanstock, listed warrants and other similar securities) of companies whichhave their registered office in the UK or exercise the predominantpart of their economic activities in the UK. The portfolio willprincipally comprise of companies in sectors and geographical areaswhich are considered by the Investment Manager to offer goodprospects for capital growth, taking into account economic trends andbusiness developments.Subject to the limits set out in the Investment Restrictions, the Fund willhave the ability: to hedge against directional risk using index futuresand/or cash; to hold bonds and warrants on transferable securities; touse options and futures for hedging purposes and for efficient portfoliomanagement; to enter into portfolio swaps; to use forward currencycontracts; and to hold liquid assets on an ancillary basis.Profile of the typical InvestorThis Fund may be suitable for investors with a broad attitude to risklooking for a long term investment opportunity in line with its InvestmentObjective and Policy. An investment in the Fund will not be suitablefor investors seeking solely an index-linked return on their investment.Investment in the Fund should be regarded as long term in nature andmay not be suitable as a short term investment. Typical investors inthe Fund are expected to be asset and wealth managers regulated orauthorised by the relevant local regulator, retail private clients who willinvest through suitably authorised intermediaries and private individualswho are experienced in making equity investments and who have theresources to withstand the risks associated with them.Base CurrencyUK Sterling.Launch DateTo be launched on such date as may be determined by the Boardof Directors.Currency of SubscriptionShares of each Class may be purchased in any freely convertiblecurrency at such conversion rates as may be determined by theCustodian and at the exchange rate risk of the investor, as more fullydescribed in the section headed ‘How to Subscribe’ in this Prospectus.Valuation DayEvery Business Day in Luxembourg.Dealing Deadline1.00pm (Luxembourg time) on every Valuation Day.Price Informationwww.jupiteronline.com and at the registered office of the Companyon every Valuation Day. Price information is also available on requestfrom the Distributors and from the Administrator in Luxembourg.ListingThere is currently no intention to list any Class of Shares on theLuxembourg Stock Exchange.Global ExposureThe global exposure of the Fund is calculated using theCommitment Approach.69

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter UK EquitiesClass Name and Class CurrencyClass LEuroClass LUS DollarClass LSterlingSecurities Identification Number (ISIN) LU0425093969 LU0425094181 LU0425094009WKN A0RM1D A0RM1F A0RM1EClearstream Common Code 42509396 42509418 42509400SEDOL B3XFKY6 B3X8SN0 B3X8SL8Initial Charge (up to) 5% 5% 5%Management Fee (up to) 1.50% 1.50% 1.50%Minimum Initial Investment €1,000 US$1,000 £1,000Minimum Incremental Investment €50 US$50 £50Minimum Holding €1,000 US$1,000 £1,000Performance Fee None None NoneInitial Subscription Price at launch(before Initial Charge)Distribution PolicyAccumulationof Income€10 US$10 £10Accumulationof IncomeAnnual dividend withautomatic reinvestmentby defaultUK Reporting Fund No No YesBenchmark FTSE All-Share Index FTSE All-Share Index FTSE All-Share IndexBenchmark Ticker Code ASX ASX ASXThis Information Sheet forms an integral part of this Prospectus. The information contained in this Information Sheet should be read inconjunction with the full information contained in this Prospectus. In particular, investors should read the risk warnings set out in thesection headed ‘Risk Factors’ above.70

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Global EquitiesInvestment ObjectiveThe objective of the Fund is to achieve long term total return principallythrough investment in equities on an international basis.Investment PolicyThe Fund will invest primarily in equity and equity related securities(including listed preference shares, listed convertible unsecured loanstock, listed warrants and other similar securities). Issuers of thesesecurities may be located in any country. The portfolio will principallycomprise companies considered by the Investment Manager to offergood prospects for total return. The Investment Manager believesthat environmental, social and corporate governance issues canaffect the performance of investment portfolios and will therefore takeaccount of these issues provided the primary financial objective is notcompromised. The Fund will not have a bias towards any economicsector or company size.Subject to the limits set out in the Investment Restrictions, the Fund willhave the ability: to hedge against directional risk using index futuresand/or cash; to hold bonds and warrants on transferable securities; touse options and futures for hedging purposes and for efficient portfoliomanagement; to enter into portfolio swaps; to use forward currencycontracts; and to hold liquid assets on an ancillary basis.Subject to the limits set out in the Investment Restrictions, the Fundmay invest in fixed interest securities, equities and equity relatedsecurities (including participation notes) issued by governments orcompanies which have their registered office in emerging marketeconomies or exercise the predominant part of their economicactivities in emerging market economies.Profile of the typical InvestorThis Fund may be suitable for investors with a broad attitude to risklooking for a long term investment opportunity in line with its InvestmentObjective and Policy. An investment in the Fund will not be suitablefor investors seeking solely an index-linked return on their investment.Investment in the Fund should be regarded as long term in nature andmay not be suitable as a short term investment. Typical investors inthe Fund are expected to be asset and wealth managers regulated orauthorised by the relevant local regulator, retail private clients who willinvest through suitably authorised intermediaries and private individualswho are experienced in making equity investments and who have theresources to withstand the risks associated with them.Base CurrencyUS Dollar.Launch Date11 September 2009.Currency of SubscriptionShares of each Class may be purchased in any freely convertiblecurrency at such conversion rates as may be determined by theCustodian and at the exchange rate risk of the investor, as more fullydescribed in the section headed ‘How to Subscribe’ in this Prospectus.Valuation DayEvery Business Day in Luxembourg.Dealing Deadline1.00pm (Luxembourg time) on every Valuation Day.Price Informationwww.jupiteronline.com and at the registered office of the Companyon every Valuation Day. Price information is also available on requestfrom the Distributors and from the Administrator in Luxembourg.ListingThere is currently no intention to list any Class of Shares on theLuxembourg Stock Exchange.Global ExposureThe global exposure of the Fund is calculated using theCommitment Approach.71

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Global EquitiesClass Name and Class CurrencyClass LEuroClass LUS DollarClass LSterlingClass ISterlingSecurities Identification Number (ISIN) LU0425094264 LU0425094421 LU0425094348 LU0459991906WKN A0RMW7 A0RMW9 A0RMW8 A0YC4ZClearstream Common Code 42509426 42509442 42509434 45999190SEDOL B3X8T48 B3X8TP9 B3X8T60 B582QF9Initial Charge (up to) 5% 5% 5% 5%Management Fee (up to) 1.50% 1.50% 1.50% 0.75%Minimum Initial Investment €1,000 US$1,000 £1,000 £10,000,000Minimum Incremental Investment €50 US$50 £50 NoneMinimum Holding €1,000 US$1,000 £1,000 £250,000Performance Fee None None None NoneInitial Subscription Price at launch(before Initial Charge)Distribution PolicyAccumulationof Income€10 US$10 £10 €10Accumulationof IncomeAnnual dividendwith automaticreinvestmentby defaultAccumulationof IncomeUK Reporting Fund No No Yes YesBenchmark MSCI World Index MSCI World Index MSCI World Index MSCI World IndexBenchmark Ticker Code MXW0 MXW0 MXW0 MXW0This Information Sheet forms an integral part of this Prospectus. The information contained in this Information Sheet should be read inconjunction with the full information contained in this Prospectus. In particular, investors should read the risk warnings set out in thesection headed ‘Risk Factors’ above.72

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter EuropaInvestment ObjectiveTo generate positive long term returns across varying market conditionsprincipally from a portfolio of investments in European equities andequity related securities.Investment PolicyThe Investment Manager employs an active stock picking approachconcentrating on fundamental analysis of individual companies andtheir valuations. This process is used to identify instances both ofunder-valued and over-valued securities. Central to the researchfunction is an emphasis on regular contact with senior companymanagement. For companies judged to be under-valued, theInvestment Manager will hold a portfolio of physical long positions andwill use financial derivatives, primarily portfolio swaps, to establishsynthetic long positions. For companies judged to be over-valued, theInvestment Manager will initiate a synthetic short position, primarilythrough the use of portfolio swaps.The Fund has wider investment powers than most of the other Fundswithin the Company. In particular it has the power to use financialderivative instruments for investment purposes. The purpose behindthese wider investment powers is designed to enable the InvestmentManager to achieve positive returns across varying market conditions.Specific risks associated with the strategy and the instruments to beused are outlined below. The ability of the Fund to maintain a portfolioof both long and short positions also provides the flexibility to hedgeagainst periods of falling equity markets, to reduce the correlation withbroad stock market returns and to minimise the monthly volatility ofportfolio returns.The Fund is not subject to a predetermined country, industry, sector ormarket capitalisation bias and will not be managed by reference to anyEuropean equity index. In seeking to meet the Investment Objective,the Investment Manager will aim to limit volatility through diversifiedportfolio holdings and sector exposures, active management of thenet and gross portfolio exposure, and through the use of financialderivatives. The types of derivatives which the Investment Managerintends to use include portfolio swaps, sector swaps, single stock andequity index options and equity index futures.The Fund may also invest in cash, fixed interest securities, currencyexchange transactions, index related securities, money marketinstruments and deposits.Base CurrencyEuro.Launch Date4 January 2010.The Fund was known as ‘The Jupiter Global Fund - Jupiter EuropeanAbsolute Return’ prior to the change of name that was implementedon 18 October 2011.Currency of SubscriptionShares of each Class may be purchased in any freely convertiblecurrency at such conversion rates as may be determined by theCustodian and at the exchange rate risk of the investor, as more fullydescribed in the section headed ‘How to Subscribe’ in this Prospectus.Valuation DayEvery Business Day in Luxembourg.Dealing DeadlineFor subscription: 1.00pm (Luxembourg time) on every Valuation Day.For redemption and conversion: 1.00pm (Luxembourg time) fiveBusiness Days prior to the relevant Valuation Day.Price Informationwww.jupiteronline.com and at the registered office of the Companyon every Valuation Day. Price information is also available on requestfrom the Distributors and from the Administrator in Luxembourg.ListingThere is currently no intention to list any Class of Shares on theLuxembourg Stock Exchange.Global ExposureThe global exposure of the Fund is calculated using the AbsoluteVaR Approach. The expected maximum level of leverage for theFund, calculated in accordance with CSSF Circular 11/512, is 200%.Profile of the typical InvestorThis Fund may be suitable for investors seeking to take advantage ofsome of the expanded investment powers available under the UCITSDirective and who seek broader risk diversification over the long term.An investment in the Fund will not be suitable for investors seekingsolely an equity index-related return on their investment. Investmentin the Fund should be regarded as long term in nature and may not besuitable as a short term investment. Typical investors in the Fund areexpected to be asset and wealth managers regulated or authorisedby the relevant local regulator, retail private clients who will investthrough suitably authorised intermediaries and private individuals whoare experienced in making equity investments and who understandthe nature of financial derivative instruments and the risks associatedwith them.73

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter EuropaClass Name and Class CurrencyClass LEuro AClass LEuro BClass LUS Dollar BClass LSterling BSecurities Identification Number (ISIN) LU0459992037 LU0459992110 LU0459992623 LU0459992466WKN A0YC43 A0YC44 A0YC48 A0YC46Clearstream Common Code 45999203 45999211 45999262 45999246SEDOL B56T0Z0 B56L9Y8 B55VB54 B56LGL4Initial Charge (up to) 5% 5% 5% 5%Management Fee (up to) 1.75% 1.5% 1.5% 1.5%Minimum Initial Investment €10,000,000 €1,000 US$1,000 £1,000Minimum Incremental Investment €1,000,000 €50 US$50 £50Minimum Holding €10,000,000 €1,000 US$1,000 £1,000Performance FeeInitial Subscription Price at launch(before Initial Charge)Distribution PolicyNoneAccumulationof Income15% of theoutperformanceof the NAV per Shareover EURIBOR(3 months).A High Watermarkapplies.15% of theoutperformanceof the NAV per Shareover US Dollar LIBOR(3 months).A High Watermarkapplies.15% of theoutperformanceof the NAV per Shareover Sterling LIBOR(3 months).A High Watermarkapplies.€10 €10 US$10 £10Accumulationof IncomeAccumulationof IncomeAccumulationof IncomeUK Reporting Fund Yes Yes Yes YesPassive currency hedging No No Yes YesBenchmark EURIBOR (3 month) EURIBOR (3 month) US Dollar LIBOR(3 month)Sterling LIBOR(3 month)Benchmark Ticker Code EUR0003M EUR0003M US0003M BP0003M74

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter EuropaRisk Factors specific to Jupiter EuropaInvestors should note that the Fund may use Financial DerivativeInstruments for investment purposes rather than solely for hedgingand efficient portfolio management. This flexibility is intended to enablethe Investment Manager to meet the investment objective of the Fund.There are specific risks associated with the use of Financial DerivativeInstruments for investment purposes, which may be summarisedas follows:• Leverage Risk – Investment in financial derivative instrumentscan introduce significant leverage risks and lead to high volatility.This is because typically such instruments require very low marginpayment in relation to the amount of underlying exposure, andhence a small price movement in the value of the underlyingsecurity may lead to a significant loss or gain on the money actuallyinvested in the derivative. Note that although the Jupiter Europahas the power to invest in such derivatives and to consequentlyleverage its exposure to the market, the Funds’ overall exposure toderivatives will not at any time exceed their total Net Asset Value.• Directional Risk – The Fund has the power to use derivativetransactions for both efficient portfolio management (e.g. hedgingexisting exposure) and for pure investment purposes. It should benoted that while derivatives used for hedging purposes can reduceor eliminate losses, such use can also reduce or eliminate gains.When derivatives are used purely for investment purposes, theFund will be directly exposed to the risks of the derivative and anygains or losses on the derivative instrument will not be offset bycorresponding losses or gains in other assets within the Fund.• Short Selling Risk – Although the Fund does not have the abilityto enter into physical short positions of individual securities, it mayuse derivatives to enter into synthetic short positions. While suchpositions give the potential for the Fund to benefit from falling marketprices, it also opens the Fund up to the risk of potentially unlimitedlosses until such time as the derivative positions are closed out, asthere is no upper limit on the price to which the underlying securitymay rise.• Counterparty Risk – The Fund may enter into derivativetransactions in Over-The-Counter markets that expose it to thecreditworthiness of its counterparties and their ability to satisfy theterms of such contracts. Where a Fund enters into such derivativecontracts, it will be exposed to the risk that the counterparty maydefault on its obligations to perform under the relevant contract.The Investment Manager will seek to minimise such risk by onlyentering into transactions with counterparties that it believes tohave a high credit rating at the time the transaction is entered into,and by ensuring that formal legal agreements covering the terms ofthe contract are entered into in advance. In certain circumstanceshowever the Investment Manager may be unable to enforce orrely on rights and obligations arising under such agreements. Inthe event of bankruptcy or insolvency the Fund may only havethe rights of a general creditor and could therefore experiencedelays in liquidating the position and may incur significant losses.The Investment Manager may use one or more counterparties toundertake derivative transactions and may be required to pledgea Fund’s assets as collateral against these transactions. TheInvestment Manager will seek to further reduce counterparty riskby settling profits or losses on open contracts on a weekly basis.• Liquidity Risk – A number of the derivative instruments thatthe Investment Manager is likely to use will be traded Over-The-Counter, rather than on recognised exchanges. There is risk withsuch investments, that the more bespoke they become and themore complex they become the harder it is to unwind the positionsat market prices. However it is the intention of the InvestmentManager to invest mainly in derivatives which have a liquidunderlying investment that is traded on a recognised exchange inorder to reduce the exposure to liquidity risk.• Basis Risk – Basis risk is the risk of loss due to a divergence inthe difference between two rates or prices. There will be occasionswhere the Investment Manager of the Fund will use derivativessuch as sector swaps to hedge out existing market exposure to aparticular basket of stocks. Although the underlying constituents ofthe swap used may be similar to the basket of stocks being hedgedagainst, it is likely that there will be differences in the compositionand this may have an adverse impact on the hedging arrangement.• Cash Flow Risk – With most derivative contracts the counterpartywill require the investor to place a margin payment with it at theoutset of the contract, and this margin payment will be subjectto additional top-ups if and when the market moves against theinvestor. There is a risk therefore that the Investment Managerwill have insufficient cash in the Fund to meet the margin callsnecessary to sustain its position in a derivative contract. In suchcircumstances the Investment Manager will either have to close outthe position, or dispose of other assets in the Fund to raise therequired margin call.Definitions used in this Information Sheet• ‘EURIBOR’ means the Euro InterBank Offered Rate;• ‘Sterling LIBOR’ means the London InterBank Offered Ratedenominated in Sterling; and• ‘US Dollar LIBOR’ means the London InterBank Offered Rateddenominated in US Dollars.This Information Sheet forms an integral part of this Prospectus.The information contained in this Information Sheet should beread in conjunction with the full information contained in thisProspectus. In particular, investors should read the risk warningsset out in the section headed ‘Risk Factors’ above.75

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Dynamic BondInvestment ObjectiveTo achieve a high income with the prospect of capital growth from aportfolio of investments in global fixed interest securities.Investment PolicyThe Fund will invest primarily in higher yielding assets including highyield bonds, investment grade bonds, government bonds, preferenceshares, convertible bonds and other bonds. The manager will only enterinto derivative transactions for the purpose of efficient management ofthe portfolio including, but not limited to, forward currency transactionsto hedge exposures back into Euros, and not for investment.Subject to the limits set out in the Investment Restrictions, the Fund willhave the ability: to hedge against directional risk using index futuresand/or cash; to hold bonds and warrants on transferable securities; touse options and futures for hedging purposes and for efficient portfoliomanagement; to enter into portfolio swaps; to use forward currencycontracts; and to hold liquid assets on an ancillary basis.Profile of the typical InvestorThis Fund may be suitable for investors with a broad attitude to risklooking for a long term investment opportunity in line with its InvestmentObjective and Policy. An investment in the Fund will not be suitablefor investors seeking solely an index linked return on their investment.Investment in the Fund should be regarded as long term in nature andmay not be suitable as a short term investment. Typical investors inthe Fund are expected to be asset and wealth managers regulated orauthorised by the relevant local regulator, retail private clients who willinvest through suitably authorised intermediaries and private individualswho are experienced in making equity investments and who have theresources to withstand the risks associated with them.Base CurrencyEuro.Launch DateTo be launched on such date as may be determined by the Boardof Directors.Currency of SubscriptionShares of each Class may be purchased in any freely convertiblecurrency at such conversion rates as may be determined by theCustodian and at the exchange rate risk of the investor, as more fullydescribed in the section headed ‘How to Subscribe’ in this Prospectus.Valuation DayEvery Business Day in Luxembourg.Dealing Deadline1.00pm (Luxembourg time) on every Valuation Day.Subscription monies relating to an application for the allotment ofShares, on a particular Valuation Day may be paid to the Administratorup to three Business Days after the applicable Valuation Day.Redemption proceeds will generally be paid on the third BusinessDay after the later of the date on which the applicable RedemptionPrice is determined and receipt by the Company of a writtenredemption request.Price Informationwww.jupiteronline.com and at the registered office of the Company onevery Valuation Day. Price information is also available on request fromthe Distributors and from the Administrator in Luxembourg.ListingThere is currently no intention to list any Class of Shares on theLuxembourg Stock Exchange.Global ExposureThe global exposure of the Fund is calculated using theCommitment Approach.76

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Dynamic BondClass Name and Class CurrencyClass LEuroClass LUS DollarClass LSterlingClass LSwiss FrancSecurities Identification Number (ISIN) LU0459992896 LU0459992979 LU0459993191 LU0750223447WKN A0YC40 A0YC41 A0YC42 A1JUF3Clearstream Common Code 45999289 45999297 45999319 000075022344SEDOL B58YQ00 B56LFY0 B56LCL6 B7NFNX4Initial Charge (up to) 5% 5% 5% 5%Management Fee (up to) 1.25% 1.25% 1.25% 1.25%Minimum Initial Investment €1,000 US$1,000 £1,000 CHF1,000Minimum Incremental Investment €50 US$50 £50 CHF50Minimum Holding €1,000 US$1,000 £1,000 CHF1,000Performance Fee None None None NoneInitial Subscription Price at launch(before Initial Charge)Distribution PolicyQuarterly dividendwith automaticreinvestment by default€10 US$10 £10 CHF10Quarterly dividendwith automaticreinvestment by defaultQuarterly dividendwith automaticreinvestment by defaultQuarterly dividendwith automaticreinvestment by defaultUK Reporting Fund No No Yes NoBenchmarkBarclays CapitalPan-EuropeanAggregate:Corporate Index(Total Return) (Euro)Barclays CapitalPan-EuropeanAggregate:Corporate Index(Total Return) (Euro)Barclays CapitalPan-EuropeanAggregate:Corporate Index(Total Return) (Euro)Barclays CapitalPan-EuropeanAggregate:Corporate Index(Total Return) (Euro)Benchmark Ticker Code BCPEACOR BCPEACOR BCPEACOR BCPEACORPassive Currency Hedging No Yes Yes Yes77

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Dynamic BondClass Name and Class CurrencyClass IEuroClass IUS DollarClass ISterlingClass ISwiss FrancSecurities Identification Number (ISIN) LU0750223520 LU0750223876 LU0750223959 LU0750224098WKN A1JUF4 A1JUF5 A1JUF6 A1JUF7Clearstream Common Code 000075022352 000075022387 000075022395 000075022409SEDOL B7NFPD8 B7NM443 B7NM4P4 B7NM8G3Initial Charge (up to) 5% 5% 5% 5%Management Fee (up to) 0.50% 0.50% 0.50% 0.50%Minimum Initial Investment €10,000,000 US$10,000,000 £10,000,000 CHF10,000,000Minimum Incremental Investment €250,000 US$250,000 £250,000 CHF250,000Minimum Holding €10,000,000 US$10,000,000 £10,000,000 CHF10,000,000Performance Fee None None None NoneInitial Subscription Price at launch(before Initial Charge)Distribution PolicyQuarterly dividendwith automaticreinvestment by default€10 US$10 £10 CHF10Quarterly dividendwith automaticreinvestment by defaultQuarterly dividendwith automaticreinvestment by defaultQuarterly dividendwith automaticreinvestment by defaultUK Reporting Fund No No Yes NoBenchmarkBarclays CapitalPan-EuropeanAggregate:Corporate Index(Total Return) (Euro)Barclays CapitalPan-EuropeanAggregate:Corporate Index(Total Return) (Euro)Barclays CapitalPan-EuropeanAggregate:Corporate Index(Total Return) (Euro)Barclays CapitalPan-EuropeanAggregate:Corporate Index(Total Return) (Euro)Benchmark Ticker Code BCPEACOR BCPEACOR BCPEACOR BCPEACORPassive Currency Hedging No Yes Yes YesRisk Factors specific to Jupiter Dynamic BondA significant proportion of the Fund may be invested in high yieldbonds (a type of fixed interest security). These bonds often offer ahigher income than bonds which are highly rated by a credit ratingagency, however, they also carry a greater risk of not being able topay the income as promised or return the capital used to purchase thebond. This can lead to the value of Shares falling. Changing marketconditions and interest rate levels can also have a larger impact on thevalue of these bonds compared to other bonds.This Information Sheet forms an integral part of this Prospectus.The information contained in this Information Sheet should beread in conjunction with the full information contained in thisProspectus. In particular, investors should read the risk warningsset out in the section headed ‘Risk Factors’ above.78

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Global Emerging Markets SelectInvestment ObjectiveTo achieve long term capital growth through investment in equity andequity-related securities of companies exposed directly or indirectly toemerging market economies worldwide.Investment PolicyThe Fund will invest primarily in equity and equity-related securities(including listed preference shares, listed convertible unsecured loanstock, listed warrants and other similar securities) of issuers whichhave their registered office in emerging market economies or exercisethe predominant part of their economic activities in emerging marketeconomies and which are considered by the Investment Manager tobe undervalued or otherwise to offer good prospects for capital growth.Examples of economies that the Investment Manager currentlyconsiders to be emerging market economies include, withoutlimitation, countries in Asia, Latin America, the Middle East, southernand eastern Europe, the region formerly known as the USSR, andAfrica. These include, again without limitation: Brazil, Chile, China,Colombia, Czech Republic, Egypt, Hungary, India, Indonesia, Korea,Malaysia, Mexico, Morocco, Peru, Philippines, Poland, Russia, SouthAfrica, Taiwan, Thailand, Turkey, Sri Lanka and Pakistan.The Investment Manager will adopt a primarily bottom up approach toselecting investments for the Fund and the Investment Manager willnot be tied to investing in constituent companies of the Benchmark.The Fund will invest predominantly in stock exchange listed sharesand securities but may invest up to 10% of its total assets in unlistedshares and other transferable securities. Details of the investmentinstruments which may be held by the Fund are set out under‘Investment Restrictions’ of this Prospectus.The Fund is entitled to invest up to 10% of its net assets in companieswhich operate or reside outside the geographical scope defined above.Subject to the limits set out in the Investment Restrictions, the Fund willhave the ability: to hedge against directional risk using index futuresand/or cash; to hold bonds and warrants (including ParticipationNotes) on transferable securities; to use options and futures forhedging purposes and for efficient portfolio management; to enter intoportfolio swaps; to use forward currency contracts; and to hold liquidassets on an ancillary basis.The Fund may also invest up to 10% of its total net assets in UCITSor other UCIs which are themselves dedicated to investments in theemerging market economies as listed above.Base CurrencyUS Dollar.Launch DateTo be launched on such date as may be determined by the Boardof Directors.Currency of SubscriptionShares of each Class may be purchased in any freely convertiblecurrency at such conversion rates as may be determined by theCustodian and at the exchange rate risk of the investor, as more fullydescribed in the section headed ‘How to Subscribe’ in this Prospectus.Valuation DayEvery Business Day in Luxembourg.Dealing Deadline1.00pm (Luxembourg time) on every Valuation Day.Price Informationwww.jupiteronline.com and at the registered office of the Companyon every Valuation Day. Price information is also available on requestfrom the Distributors and from the Administrator in Luxembourg.ListingThere is currently no intention to list any Class of Shares on theLuxembourg Stock Exchange.Global ExposureThe global exposure of the Fund is calculated using theCommitment Approach.Profile of the typical InvestorThis Fund may be suitable for investors with a broad attitude to risklooking for a long term investment opportunity in line with its InvestmentObjective and Policy. An investment in the Fund will not be suitablefor investors seeking solely an index linked return on their investment.Investment in the Fund should be regarded as long term in nature andmay not be suitable as a short term investment. Typical investors inthe Fund are expected to be asset and wealth managers regulated orauthorised by the relevant local regulator, retail private clients who willinvest through suitably authorised intermediaries and private individualswho are experienced in making equity investments and who have theresources to withstand the risks associated with them.79

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Global Emerging Markets SelectClass Name andClass CurrencyClass LEuroClass LUS DollarClass LSterlingClass IEuroClass IUS DollarClass ISterlingSecurities Identification Number(ISIN)LU0522251593 LU0522251676 LU0522252138 LU0522252302 LU0522252641 LU0522253029WKN A1C1MK A1C1ML A1C1MM A1C1MN A1C1MP A1C1MQClearstream Common Code 52225159 52225167 52225213 52225230 52225264 52225302SEDOL B3QQCT5 B3VGQP4 B3RNZB8 B3QM7F4 B3VGWH8 B3Y4T45Initial Charge (up to) 5% 5% 5% 5% 5% 5%Management Fee (up to) 1.5% 1.5% 1.5% 0.75% 0.75% 0.75%Minimum Initial Investment €1,000 US$1,000 £1,000 €10,000,000 US$10,000,000 £10,000,000Minimum Incremental Investment €50 US$50 £50 €250,000 US$250,000 £250,000Minimum Holding €1,000 US$1,000 £1,000 €10,000,000 US$10,000,000 £10,000,000Performance Fee None None None None None NoneInitial Subscription Price at launch(before Initial Charge)Distribution PolicyAccumulationof Income€10 US$10 £10 €10 US$10 £10Accumulationof IncomeAnnual dividendwith automaticreinvestment bydefaultAccumulationof IncomeAccumulationof IncomeAnnual dividendwith automaticreinvestmentby defaultUK Reporting Fund No No Yes No No YesBenchmarkMSCI Emerging MSCI Emerging MSCI Emerging MSCI Emerging MSCI Emerging MSCI EmergingMarkets Index (net) Markets Index (net) Markets Index (net) Markets Index (net) Markets Index (net) Markets Index (net)Benchmark Ticker Code NDHEEGF NDHEEGF NDHEEGF NDHEEGF NDHEEGF NDHEEGF80

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Global Emerging Markets SelectRisk Factors specific to Jupiter Global EmergingMarkets SelectEmerging and Less Developed MarketsIn emerging and less developed markets, the legal, judicial andregulatory infrastructure is still developing but there is much legaluncertainty both for local market participants and their overseascounterparts. Some markets may carry higher risks for investors whoshould therefore ensure that, before investing, they understand therisks involved and are satisfied that an investment is suitable as partof their portfolio. Investments in emerging and less developed marketsshould be made only by sophisticated investors or professionals whohave independent knowledge of the relevant markets, are able toconsider and weigh the various risks presented by such investments,and have the financial resources necessary to bear the substantial riskof loss of investment in such investments.Smaller CompaniesThe amount of capital raised in the securities markets of the territoriesset out in the Fund’s investment policy (the ‘Territories’) may besubstantially less than the amount raised in major Western markets.As a result of lower trading volumes, the Fund’s investmentportfolio may experience greater price volatility and significantlylower liquidity than a portfolio invested in equity securities ofcompanies based in more developed West European countriesor the United States.In addition to their small size, illiquidity and volatility, the securitiesmarkets in the Territories are less developed than the major Westernsecurities markets. There is less state regulation and supervision ofthese securities markets, and less reliable information available tobrokers and investors than in the major Western markets andconsequently less investor protection.The prices at which the Fund may acquire investments may beaffected by the market’s anticipation of the Fund’s investing, by otherpersons trading on material non-public information, and by brokerstrading securities in anticipation of transactions by the Fund inparticular securities.Brokerage commissions and other transaction costs and related taxeson securities transactions in the Territories are generally higher thanin Western securities markets.Currency ExposureWhere the Investment Manager deems it appropriate to invest incompanies which earn revenues, have expenses or make distributionsin the currency of the relevant Territory, currency risks in connectiontherewith will be borne indirectly by investors. The potential lossresulting from unfavourable currency risks will be considered whenmaking investments.Corporate Legislation and JurisprudenceCorporate legislation in the Territories regarding the fiduciaryresponsibility of directors and officers and protection of shareholdersis significantly less developed than in the major Western jurisdictionsand may impose inconsistent or even contradictory requirements oncompanies. Some rights typically sought by Western investors maynot be available or enforceable. Also, the legal systems in some of theTerritories have not fully adapted to the requirements and standards ofan advanced market economy. The rudimentary state of commerciallaw, combined with a judiciary which lacks experience and knowledgeof market traditions and rules, makes the outcome of any potentialcommercial litigation unpredictable.Reporting StandardsAccounting, auditing and financial reporting standards andrequirements in the Territories are in many respects less stringent andless consistent than those applicable in many major Western countries.Less information is available to investors investing in such securitiesthan to investors investing in securities of companies in many majorWestern countries and the historic information which is available is notnecessarily comparable or relevant.TaxationTaxation of dividends and capital gains received by foreign investorsvaries among the Territories and, in some cases may be comparativelyhigh. Many of the Territories purport to offer preferential tax treatmentto foreign investors. Such preferences may apply only if a foreigninvestor’s equity stake in the relevant company exceeds a certainpercentage or meets other requirements. The Investment Managerwill take reasonable steps to mitigate the Fund’s tax liabilities.WarrantsWhen warrants are held, the Net Asset Value per Share may fluctuatemore than would otherwise be the case because of the greatervolatility of warrant prices.Risks Relating to Derivative Financial Instruments and TechniquesThe Fund may invest in derivative financial instruments, comprisingoptions, futures, index futures and currency forward contracts forhedging and efficient portfolio management, as more fully described inthe investment policy. There is a risk that the use of such instrumentswill not achieve the goals aimed at. Also, the use of swaps, portfolioswaps and other derivative contracts entered into by private agreementsmay create a counterparty risk for the Fund. This risk is mitigated by thefact that the counterparties must be institutions subject to prudentialsupervision and that the counterparty risk on a single entity must belimited in accordance with the investment restrictions.This Information Sheet forms an integral part of this Prospectus.The information contained in this Information Sheet should beread in conjunction with the full information contained in thisProspectus. In particular, investors should read the risk warningsset out in the section headed ‘Risk Factors’ above.81

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Strategic Total ReturnInvestment ObjectiveTo generate positive long term returns across varying marketconditions from an actively managed portfolio of different assetclasses, including equities, bonds, convertible bonds, currencies andmoney market securities on an international basis.Investment PolicyThe Investment Manager will make strategic investment and assetallocation decisions for the portfolio using a wide range of securitiesand financial derivative instruments in order to meet the Fund’sobjective of generating long term total returns for investors. Inparticular, the Fund is not subject to a predetermined country, industrysector, credit rating or market capitalisation bias. In seeking to meetthe Investment Objective, the Investment Manager will aim to limitvolatility for investors in the Fund through diversified portfolio holdings,asset class and sector exposures, active management of the net andgross portfolio exposures and through the use of financial derivativesfor investment, hedging and efficient portfolio management purposes.The types of derivatives that the Investment Manager intends to useinclude portfolio swaps, single stock and equity index options, equityindex futures and options, interest rate and financial indices optionsand futures, bond futures and options and currency forwards, OTCderivatives and exposure to commodity indices.Subject to the limits set out in the Investment Restrictions and inparticular in section ‘Commodity Indices’, the Fund may, from time totime, have exposure to Market Commodity Indices as well as SingleCommodity Indices.Subject to the limits set out in the Investment Restrictions, the Fundmay also invest in portfolio swaps, futures and options referring topermitted indices associated with price trends in commodities. TheFund shall not be allowed to enter into commitments to take deliveryover or to deliver physical commodities or precious metals, nor willthe Fund be allowed to acquire commodities or precious metals orcertificates representing them. All investments having an exposure tocommodity or precious metals will be cash settled.Subject to the limits set out in the Investment Restrictions, the Fundmay enter into portfolio swaps in order to gain both long and shortexposure to indices, sectors, baskets or individual securities for bothinvestment purposes and for hedging or efficient portfolio managementpurposes. To the extent that portfolio swaps are used for investmentpurposes, the Fund’s gross exposure to the market shall not exceed200% of its net assets at any time.The ability of the Fund to maintain a portfolio of both long and shortpositions provides the flexibility to hedge against periods of fallingmarkets, to reduce the risk of absolute loss at portfolio level and tominimise the volatility of portfolio returns.The Fund may invest in securities denominated in any currency.Non-base currency exposure may be hedged back to the basecurrency to moderate currency exchange risks. More specifically,currency futures, forwards and options may be used for this purpose.Subject to the limits set out in the Investment Restrictions, the Fundmay invest in fixed interest securities, equities and equity relatedsecurities (including participation notes) issued by governments orcompanies which have their registered office in emerging marketeconomies or exercise the predominant part of their economicactivities in emerging market economies.The Fund may also invest in cash, fixed interest securities (whetheror not of investment grade), currency exchange transactions, indexrelated securities, money market instruments, exchange traded funds(‘ETF’) and deposits.Profile of the typical InvestorThis Fund may be suitable for investors with a broad attitude to risklooking for a long term investment opportunity in line with its InvestmentObjective and Policy. An investment in the Fund will not be suitablefor investors seeking solely an index linked return on their investment.Investment in the Fund should be regarded as long term in nature andmay not be suitable as a short term investment. Typical investors inthe Fund are expected to be asset and wealth managers regulated orauthorised by the relevant local regulator, retail private clients who willinvest through suitably authorised intermediaries and private individualswho are experienced in making equity investments and who have theresources to withstand the risks associated with them.Base CurrencyEuro.Launch Date1 October 2010.Currency of SubscriptionShares of each Class may be purchased in any freely convertiblecurrency at such conversion rates as may be determined by theCustodian and at the exchange rate risk of the investor, as more fullydescribed in the section headed ‘How to Subscribe’ in this Prospectus.Valuation DayEvery Business Day in Luxembourg.Dealing Deadline1.00pm (Luxembourg time) on every Valuation Day.Redemption proceeds will generally be paid on the third BusinessDay after the later of the date on which the applicableRedemption Price is determined and receipt by the Company of awritten redemption request.Price Informationwww.jupiteronline.com and at the registered office of the Companyon every Valuation Day. Price information is also available on requestfrom the Distributors and from the Administrator in Luxembourg.ListingThere is currently no intention to list any Class of Shares on theLuxembourg Stock Exchange.Global ExposureThe global exposure of the Fund is calculated using the AbsoluteVaR Approach. The expected maximum level of leverage for theFund, calculated in accordance with CSSF Circular 11/512, is 200%.82

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Strategic Total ReturnClass Name and Class CurrencyClass LEuroClass LUS DollarClass LSterlingClass LSwiss FrancSecurities Identification Number (ISIN) LU0522253292 LU0522253615 LU0522253706 LU0522254001WKN A1C1MR A1C1MS A1C1MT A1C1MUClearstream Common Code 52225329 52225361 52225370 52225400SEDOL B3R8VW6 B3QVMS9 B3QK2C0 B3VR2Z9Initial Charge (up to) 5% 5% 5% 5%Management Fee (up to) 1.25% 1.25% 1.25% 1.25%Minimum Initial Investment €1,000 US$1,000 £1,000 CHF1,000Minimum Incremental Investment €50 US$50 £50 CHF50Minimum Holding €1,000 US$1,000 £1,000 CHF1,000Performance FeeInitial Subscription Price at launch(before Initial Charge)Distribution Policy10% of theoutperformance ofthe NAV per Shareover Benchmark.A High Watermarkapplies.Accumulationof Income10% of theoutperformance ofthe NAV per Shareover Benchmark.A High Watermarkapplies.10% of theoutperformance ofthe NAV per Shareover Benchmark.A High Watermarkapplies.10% of theoutperformance ofthe NAV per Shareover Benchmark.A High Watermarkapplies.€10 US$10 £10 CHF10Accumulationof IncomeAccumulationof IncomeAccumulationof IncomeUK Reporting Fund No No Yes NoBenchmark1 monthEURIBOR1 month US DollarLIBOR1 month SterlingLIBOR1 month CHFLIBORBenchmark Ticker Code EUR001M US0001M BP0001M SF0001MPassive Currency Hedging No Yes Yes Yes83

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Strategic Total ReturnClass Name and Class CurrencyClass IEuroClass IUS DollarClass ISterlingClass ISwiss FrancSecurities Identification Number (ISIN) LU0522254340 LU0522254423 LU0522254852 LU0522255156WKN A1C1MV A1C1MW A1C1MX A1C1MYClearstream Common Code 52225434 52225442 52225485 52225515SEDOL B3QKYV3 B3YYVS3 B3SH382 B3YJCJ6Initial Charge (up to) 5% 5% 5% 5%Management Fee (up to) 0.65% 0.65% 0.65% 0.65%Minimum Initial Investment €10,000,000 US$10,000,000 £10,000,000 CHF10,000,000Minimum Incremental Investment €250,000 US$250,000 £250,000 CHF250,000Minimum Holding €10,000,000 US$10,000,000 £10,000,000 CHF10,000,000Performance Fee None None None NoneInitial Subscription Price at launch(before Initial Charge)Distribution PolicyAccumulationof Income€10 US$10 £10 CHF10Accumulationof IncomeAccumulationof IncomeAccumulationof IncomeUK Reporting Fund No No Yes NoBenchmark1 monthEURIBOR1 month US DollarLIBOR1 month SterlingLIBOR1 month CHFLIBORBenchmark Ticker Code EUR001M US0001M BP0001M SF0001MPassive Currency Hedging No Yes Yes Yes84

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Strategic Total ReturnRisk Factors specific to Jupiter Strategic Total ReturnInvestors should note that the Fund may use financial derivativeinstruments for investment purposes rather than solely for hedgingand efficient portfolio management. This flexibility is intended toenable the Investment Manager to meet the investment objective ofthe Fund. There are specific risks associated with the use of financialderivative instruments for investment purposes, which may besummarised as follows:• Leverage Risk – Investment in financial derivative instruments canintroduce leverage risks and lead to volatility. This is becausetypically such instruments require very low margin payment inrelation to the amount of underlying exposure, and hence a smallprice movement in the value of the underlying security may lead toa significant loss or gain on the money actually invested in thederivative. Note that although the Jupiter Strategic Total ReturnFund has the power to invest in such derivatives and to consequentlyleverage its exposure to the market, the Funds’ overall exposure toderivatives will not at any time exceed their total Net Asset Value.• Directional Risk – The Fund has the power to use derivativetransactions for both efficient portfolio management (e.g. hedgingexisting exposure) and for pure investment purposes. It should benoted that while derivatives used for hedging purposes can reduceor eliminate losses, such use can also reduce or eliminate gains.When derivatives are used purely for investment purposes, theFund will be directly exposed to the risks of the derivative and anygains or losses on the derivative instrument will not be offset bycorresponding losses or gains in other assets within the Fund.• Short Selling Risk – Although the Fund does not have the abilityto enter into physical short positions of individual securities, it mayuse derivatives to enter into synthetic short positions. While suchpositions give the potential for the Fund to benefit from fallingmarket prices, it also opens the Fund up to the risk of potentiallyunlimited losses until such time as the derivative positions areclosed out, as there is no upper limit on the price to which theunderlying security may rise.• Counterparty Risk – The Fund may enter into derivativetransactions in Over-The-Counter markets that expose it to thecreditworthiness of its counterparties and their ability to satisfy theterms of such contracts. Where a Fund enters into such derivativecontracts, it will be exposed to the risk that the counterparty maydefault on its obligations to perform under the relevant contract.The Investment Manager will seek to minimise such risk by onlyentering into transactions with counterparties that it believes tohave a high credit rating at the time the transaction is entered into,and by ensuring that formal legal agreements covering the terms ofthe contract are entered into in advance. In certain circumstanceshowever the Investment Manager may be unable to enforce or relyon rights and obligations arising under such agreements. In theevent of bankruptcy or insolvency the Fund may only have therights of a general creditor and could therefore experience delays inliquidating the position and may incur significant losses. TheInvestment Manager may use one or more counterparties toundertake derivative transactions and may be required to pledge aFund’s assets as collateral against these transactions. TheInvestment Manager will seek to further reduce counterparty risk bysettling profits or losses on open contracts on a weekly basis.• Liquidity Risk – A number of the derivative instruments thatthe Investment Manager is likely to use will be tradedOver-The-Counter, rather than on recognised exchanges. There isrisk with such investments, that the more bespoke they becomeand the more complex they become the harder it is to unwind thepositions at market prices. However it is the intention of theInvestment Manager to invest mainly in derivatives which have aliquid underlying investment that is traded on a recognisedexchange in order to reduce the exposure to liquidity risk.• Cash Flow Risk – With most derivative contracts the counterpartywill require the investor to place a margin payment with it at theoutset of the contract, and this margin payment will be subject toadditional top-ups if and when the market moves against theinvestor. There is a risk therefore that the Investment Manager willhave insufficient cash in the Fund to meet the margin callsnecessary to sustain its position in a derivative contract. In suchcircumstances the Investment Manager will either have to close outthe position, or dispose of other assets in the Fund to raise therequired margin call.Definitions used in this Information Sheet• ‘EURIBOR’ means the Euro InterBank Offered Rate;• ‘Sterling LIBOR’ means the London InterBank Offered Ratedenominated in Sterling; and• ‘CHF LIBOR’ means the London InterBank Offered Ratedenominated in Swiss Francs.• ‘US Dollar LIBOR’ means the London InterBank Offered Ratedenominated in US Dollars.This Information Sheet forms an integral part of this Prospectus.The information contained in this Information Sheet should beread in conjunction with the full information contained in thisProspectus. In particular, investors should read the risk warningsset out in the section headed ‘Risk Factors’ above.85

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Global ConvertiblesInvestment ObjectiveTo achieve long term capital growth through investment on a globalbasis in a diversified portfolio of convertible securities.Investment PolicyExamples of the convertible securities which may be acquired forthe Fund include convertible bonds, convertible preference shares,mandatory convertibles and other convertible or exchangeablesecurities. The Fund may also invest in money market instruments,bonds, equities, warrants, futures, listed options and OTC derivatives.The Fund is not subject to a predetermined country, industry sector,credit rating or market capitalisation bias. The Fund may invest insecurities denominated in any currency. Non-base currency exposuremay be hedged back to the base currency to moderate currencyexchange risks. More specifically, currency futures, forward and OTCoptions may be used for this purpose.Subject to the limits set out in the Investment Restrictions, the Fundwill have the ability: to hedge against directional risk using indexfutures and/or cash; to hold bonds and warrants on transferablesecurities; to use options and futures for hedging purposes and forefficient portfolio management; to enter into portfolio swaps; to useforward currency contracts; and to hold liquid assets on an ancillarybasis including cash.The Fund may invest in fixed interest securities, equities andequity related securities (including participation notes) issued bygovernments or companies which have their registered office inemerging market economies or exercise the predominant part of theireconomic activities in emerging market economies.The Fund may also invest in fixed interest securities (whether or notof investment grade), currency exchange transactions, index relatedsecurities, money market instruments and deposits.Profile of the typical InvestorThis Fund may be suitable for investors with a broad attitude to risklooking for a long term investment opportunity in line with its InvestmentObjective and Policy. An investment in the Fund will not be suitablefor investors seeking solely an index linked return on their investment.Investment in the Fund should be regarded as long term in nature andmay not be suitable as a short term investment. Typical investors inthe Fund are expected to be asset and wealth managers regulated orauthorised by the relevant local regulator, retail private clients who willinvest through suitably authorised intermediaries and private individualswho are experienced in making equity investments and who have theresources to withstand the risks associated with them.Base CurrencyEuro.Launch Date1 October 2010.Currency of SubscriptionShares of each Class may be purchased in any freely convertiblecurrency at such conversion rates as may be determined by theCustodian and at the exchange rate risk of the investor, as more fullydescribed in the section headed ‘How to Subscribe’ in this Prospectus.Valuation DayEvery Business Day in Luxembourg.Dealing Deadline1.00pm (Luxembourg time) on every Valuation Day.Redemption proceeds will generally be paid on the thirdBusiness Day after the later of the date on which the applicableRedemption Price is determined and receipt by the Company of awritten redemption request.Price Informationwww.jupiteronline.com and at the registered office of the Companyon every Valuation Day. Price information is also available on requestfrom the Distributors and from the Administrator in Luxembourg.ListingThere is currently no intention to list any Class of Shares on theLuxembourg Stock Exchange.Global ExposureThe global exposure of the Fund is calculated using theCommitment Approach.86

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Global ConvertiblesClass Name and Class CurrencyClass LEuroClass LEuroDividendClass LUS DollarClass LSterlingClass LSwiss FrancSecurities Identification Number (ISIN) LU0522255313 LU0628612318 LU0522255669 LU0522256048 LU0522256394WKN A1C1MZ A1JA8Q A1C1M0 A1C1M1 A1C1M2Clearstream Common Code 52225531 000062861231 52225566 52225604 52225639SEDOL B3TJYP1 B5BTZR2 B3Q9FJ5 B3XWS09 B3Y8ZC7Initial Charge (up to) 5% 5% 5% 5% 5%Management Fee (up to) 1.7% 1.7% 1.7% 1.7% 1.7%Minimum Initial Investment €1,000 €1,000 US$1,000 £1,000 CHF1,000Minimum Incremental Investment €50 €50 US$50 £50 CHF50Minimum Holding €1,000 €1,000 US$1,000 £1,000 CHF1,000Performance Fee None None None None NoneInitial Subscription Price at launch(before Initial Charge)Distribution PolicyAccumulationof Income€10 €10 US$10 £10 CHF10Annual dividendwith automaticreinvestmentby defaultAccumulationof IncomeAnnual dividendwith automaticreinvestmentby defaultAccumulationof IncomeUK Reporting Fund No No No Yes NoBenchmarkUBS Global FocusHedged (EUR) CBIndexUBS Global FocusHedged (EUR) CBIndexUBS Global FocusHedged (USD) CBIndexUBS Global FocusHedged (GBP) CBIndexUBS Global FocusHedged (CHF) CBIndexBenchmark Ticker Code UCBIFX14 UCBIFX14 UCBIFX14 UCBIFX14 UCBIFX14Passive Currency Hedging No No Yes Yes Yes87

THE JUPITER GLOBAL FUNDInformation Sheet■■The Jupiter Global Fund – Jupiter Global ConvertiblesClass Name and Class CurrencyClass IEuroClass IUS DollarClass ISterlingClass ISwiss FrancSecurities Identification Number (ISIN) LU0522256634 LU0522256980 LU0522257285 LU0522257442WKN A1C1M3 A1C1M4 A1C1M5 A1C1M6Clearstream Common Code 52225663 52225698 52225728 52225744SEDOL B3X0QF4 B3QTHM2 B3TSG41 B3QT335Initial Charge (up to) 5% 5% 5% 5%Management Fee (up to) 0.9% 0.9% 0.9% 0.9%Minimum Initial Investment €10,000,000 US$10,000,000 £10,000,000 CHF10,000,000Minimum Incremental Investment €250,000 US$250,000 £250,000 CHF250,000Minimum Holding €10,000,000 US$10,000,000 £10,000,000 CHF10,000,000Performance Fee None None None NoneInitial Subscription Price at launch(before Initial Charge)Distribution PolicyAccumulationof Income€10 US$10 £10 CHF10Accumulationof IncomeAnnual dividendwith automaticreinvestmentby defaultAccumulationof IncomeUK Reporting Fund No No Yes NoBenchmarkUBS GlobalFocus Hedged(EUR) CB IndexUBS GlobalFocus Hedged(USD) CB IndexUBS GlobalFocus Hedged(GBP) CB IndexUBS GlobalFocus Hedged(CHF) CB IndexBenchmark Ticker Code UCBIFX14 UCBIFX14 UCBIFX14 UCBIFX14Passive Currency Hedging No Yes Yes YesRisk Factors specific to Jupiter Global ConvertiblesInvestments in convertible bonds are subject to the same interest rate,credit and prepayment risks linked to ordinary corporate bonds.Convertible bonds are corporate bonds with an option that allows aninvestor to convert the bond into shares at a given price at specifiedtimes during the life of the convertible bond. This ability to convertallows the investor to benefit directly from the company’s successshould its share price rise, while also offering the regular income of aconventional corporate bond investment. This exposure to equitymovements can lead to more volatility than could be expected from acomparable conventional corporate bond.This Information Sheet forms an integral part of this Prospectus.The information contained in this Information Sheet should beread in conjunction with the full information contained in thisProspectus. In particular, investors should read the risk warningsset out in the section headed ‘Risk Factors’ above.88

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