Global Fund Prospectus - Jupiter Asset Management

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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
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Global Fund Prospectus - Jupiter Asset Management

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