Jupiter UK Income Fund L Inc

Objectives and investment policy Objective The Fund objective is to provide income together with the prospect of capital growth, to achieve a return, net of fees, higher than that provided by the FTSE All Share Index, over the long term (at least five years). Policy At least 70% of the Fund is invested in shares of companies based in the UK. Up to 30% of the Fund may be invested in other transferable securities (including shares of companies based anywhere in the world), open-ended funds (including funds managed by Jupiter and its associates), cash, near cash, money market instruments and deposits. The Fund may use derivatives (i.e. financial contracts whose value is linked to the expected price movements of an underlying investment) with the aim of reducing the overall costs and/or risks of the Fund. Strategy The fund manager will apply a disciplined, repeatable process to identify shares of companies which the manager considers to be undervalued and have an above average dividend yield (dividends are paid out each year by companies to their shareholders). Undervalued stocks are those companies whose worth is not believed to be properly reflected by the stock price. The Fund will tend to invest in a smaller number of companies where the manager has the highest conviction. Benchmarks Target benchmark - FTSE All Share Index The FTSE All Share Index is an industry standard index and is one of the leading representations of UK stock markets. It is easily accessible and provides a fair reflection of the Fund Manager's investment universe and a good relative measure to assess performance outcomes. Comparator benchmark - IA UK Equity Income Sector Many funds sold in the UK are grouped into sectors by the Investment Association (the trade body that represents UK investment managers), to help investors to compare funds with broadly similar characteristics. This Fund is classified in the IA UK Equity Income Sector. Active Management The Fund is actively managed. This means the fund manager is taking investment decisions with the intention of achieving the Fund's investment objective; this may include decisions regarding asset selection, regional allocation, sector views and overall level of exposure to the market. The fund manager is not in any way constrained by the benchmark in their portfolio positioning, and will not hold all, or indeed may not hold any, of the benchmark constituents. Recommendation This fund may not be suitable for investors who plan to withdraw their capital within 5 years. Any income arising in relation to this unit class will be distributed to investors on a regular basis. Investors are able to buy and sell units during any business day between 9am