A B S O L U T E R E T U R N

A B S O L U T E R E T U R N Jupiter Global Absolute Return SICAV June 2016 James Clunie Head of Strategy, Absolute Return Fund Management Director ON THE PLANET TO PERFORM

1 Jupiter Absolute Return Strategy Manager s performance Since manager s tenure (01.09.13) 40% 35% Jupiter Absolute Return I Acc 16.0% LIBOR GBP 3m 1.6% MSCI World GTR 36.4% FTSE 100 12.4% 30% 25% Growth 20% 15% 10% 5% 0% -5% -10% Aug 13 Dez 13 Mrz 14 Jun 14 Sep 14 Dez 14 Mrz 15 Jun 15 Sep 15 Dez 15 Mrz 16 Jun 16 Past performance is no guide to the future. Source: Morningstar, bid to bid, net income reinvested, in GBP, to 30.06.16. Fund benchmark = LIBOR GBP 3m. MSCI World Index is run in gross. James Clunie started managing the Jupiter Absolute Return Fund on 01.09.13.

2 Manager s long/short track record Equity-like returns with limited drawdowns and volatility SWIP UK Flexible Strategy (from 01.09.09 to 22.04.13) Growth 65% 60% SWIP UK Flexible Strategy A 39.8% LIBOR GBP 3m 2.8% MSCI AC World 51.8% FTSE 100 47.9% 55% 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% -5% Sep 09 Dez 09 Apr 10 Aug 10 Dez 10 Apr 11 Aug 11 Dez 11 Apr 12 Aug 12 Dez 12 Apr 13 Past performance is no guide to the future. The performance shown is to illustrate the manager s track record and is not an indication of the potential performance of the Jupiter Global Absolute Return SICAV. Source: FE, bid to bid, net income reinvested, in GBP, to 22.04.13. Fund benchmark = LIBOR GBP 3m.

3 The team James Clunie Head of Strategy, Fund Management Director 23 years experience Ivan Kralj Analyst 5 years experience 2013 Present Jupiter Asset Management Head of Strategy, Absolute Return, Fund Management Director 2014 Present Jupiter Asset Management Absolute Return Strategy Analyst Qualifications BSc Mathematics & Statistics and PhD Management (Edinburgh University) CFA Charterholder Qualifications BA Economics (Università di Trieste, Italy) MSc Finance (Heriot-Watt University) CFA Charterholder Note: Years of industry experience as at 31.03.16.

4 Investment process Well-researched positions in risk assets with the aim of generating solid returns per unit of risk Manager s objective seeks to generate absolute return, independent of market conditions, by investing on a global basis Moderate net market exposure reduces drawdowns Macro-cognizant but not driven by top-down thinking Evidence-based quantitative screens can highlight ideas Willing to take risk when it is likely to be rewarded Disciplined security selection process + Aim for positive returns over rolling 3 year periods Seeks attractive risk adjusted returns Top-down awareness assists in risk management and can generate thematic ideas Fundamental company analysis Examining market ecology Specific shortselling risk management process Risk control Seeking alpha generation through long and short positions The views expressed are those of the presenter at the time of preparation and may change in the future.

5 Quant screen Source: Jupiter, 19.05.16.

6 Strict risk management at fund level Structure Long positions typically below 5%; short positions typically below 3% Gross exposure Fund restriction: 200% Dynamic Net and gross exposures vary with idea generation and appetite for risk Use listed and OTC derivatives (futures and options) to manage risk at portfolio and position level Maintain a high level of portfolio liquidity Process Weekly risk review: portfolio analytics and the investment team Independent risk management oversight (risk-metrics) Analysis of portfolio risk at stock, industry and country levels Portfolio VaR, composition of VAR by position and risk factors Fund specific stress tests

7 Jupiter Global Absolute Return Fund overview Launch date 6 June 2016 Fund manager James Clunie, Fund manager since: June 2016 (since launch) Legal structure Luxembourg-domiciled UCITS SICAV Custodian, paying agent and administrator J.P. Morgan Bank Luxembourg S.A. Dealing: daily dealing and pricing (cut-off at 1pm CET*) Settlement period: T+3 Business year end 30 September Base currency: EUR *We recommend that you submit orders before 12.45 in order to ensure that it is processed in time for the cut-off.

8 Jupiter Global Absolute Return Share classes Share class Currency Distribution policy 2016 ex date ISIN Bloomberg AMC OCF* L EUR Acc EUR Accumulation N/A LU1388736099 N/A 1.25% 1.52% *The Ongoing Charges Figure is an estimate due to a change of the fund s fee structure. It includes the Annual Management Charge (AMC) and aggregate operating fees chargeable to the fund. For details of all share classes and fees and charges, please refer to the Prospectus and Annual Report for each financial year. Where the fund invests in other funds, the estimate includes the impact of the charges made in those funds. Jupiter does not engage in stock lending.

9 Disclosure This presentation is intended for investment professionals and not for the benefit of retail investors. Market and exchange rate movements can cause the value of an investment to fall as well as rise, and you may get back less than originally invested. Initial charges are likely to have a greater proportionate effect on returns if investments are liquidated in the shorter term. Any data or views given should not be construed as investment advice. Past performance is no indication of current or future performance. Performance data does not take into account commissions and costs incurred on the issue and redemption of shares. Company examples are for illustrative purposes only and are not a recommendation to buy or sell. Quoted yields are not guaranteed and may change in the future. Awards and ratings should not be taken as a recommendation. Every effort is made to ensure the accuracy of the information but no assurance or warranties are given. It is not an invitation to subscribe for shares in the Jupiter Global Fund (the Company) or any other fund managed by Jupiter Asset Management Limited. The Company is a UCITS fund incorporated as a Société Anonyme in Luxembourg and organised as a Société d investissement à Capital Variable (SICAV). This information is only directed at persons residing in jurisdictions where the Company and its shares are authorised for distribution or where no such authorisation is required. Jupiter Global Absolute Return SICAV: The fund uses derivatives, which may increase volatility; the fund s performance is unlikely to track the performance of broader markets. Losses on short positions may be unlimited. Counterparty risk may cause losses to the fund. The KIID and Prospectus are available from Jupiter on request. This fund can invest more than 35% of its value in securities issued or guaranteed by an EEA state. The sub-fund(s) may be subject to various other risk factors, please refer to the Prospectus for further information. Prospective purchasers of shares of the sub-fund(s) of the Company should inform themselves as to the legal requirements, exchange control regulations and applicable taxes in the countries of their respective citizenship, residence or domicile. UK investors will not have access to the Financial Services Compensation Scheme or the Financial Ombudsman Service with respect to this investment. Subscriptions can only be made on the basis of the current prospectus and the KIID, accompanied by the most recent audited annual report and semi-annual report. These documents are available for download from www.jupiteram.com. The KIID and, where required, the Prospectus, along with other advertising materials which have been approved for public distribution in accordance with the local regulations are available in English, Dutch, French, Finnish, German, Italian, Portuguese, Spanish and Swedish. Before subscribing, please read the Prospectus. Hard copies may be obtained free of charge upon request from any of: The Company Custodian and Administrator: JP Morgan Bank Luxembourg S.A, 6 Route de Trèves, Senningerberg, L-2633, Luxembourg; and from certain of the Company s distributors; Austria: Jupiter Asset Management Limited, Vienna branch, Le Palais Business Residence, Herrengasse 1-3, 1010 Vienna, Austria; Belgium and France: Alfi Partners: 18 boulevard Montmartre, 75009 Paris, France; Germany: Jupiter Asset Management Limited, Munich branch, whose registered office is at: Apartment 6, Weissenburger Platz 3, 81667 Munich, Germany; from Jupiter Asset Management Limited, Frankfurt branch, whose registered office is at: Roßmarkt 10, 60311 Frankfurt, Germany; Italy: BNP Paribas Securities Services, Milan branch, Piazza San Fedele 1/3, 20121 Milano, Italy. The Fund has been registered with the Commissione Nazionale per le Società e la Borsa (CONSOB) for the offer in Italy to retail investors; Luxembourg: the Company's registered office; 6 Route de Trèves, Senningerberg, L-2633, Luxembourg; Spain: Allfunds Bank, C/ La Estafeta 6, Edificio 3, 28109 Alcobendas, Madrid, Spain. For the purposes of distribution in Spain, the Company is registered with the Spanish Securities Markets Commission Comisión Nacional del Mercado de Valores ( CNMV ) under registration number 1253, where complete information, including a copy of the marketing memorandum, is available from the Company authorised distributors. Sweden: Jupiter Asset Management Limited, Nordic branch, 4th Floor, Strandvagen 7A, 114 56 Stockholm, Sweden; Switzerland: Copies of the Memorandum and Articles of Association, the Prospectus, KIIDs and the annual and semi-annual reports of the Company may be obtained free of charge from the Company s representative and paying agent in Switzerland, BNP Paribas Securities Services, Paris, Succursale de Zurich, whose registered office is at Selnaustrasse 16, 8002 Zurich, Switzerland; United Kingdom: Jupiter Asset Management Limited (the Investment Manager), registered address: The Zig Zag Building, 70 Victoria Street, London, SW1E 6SQ, United Kingdom. This document contains information based on the FTSE 100 Index. FTSE is a trade mark owned by the London Stock Exchange Plc and is used by FTSE International Limited ( FTSE ) under licence. The FTSE 100 Index is calculated by FTSE. FTSE does not sponsor, endorse or promote the product referred to in this document and is not in any way connected to it and does not accept any liability in relation to its issue, operation and trading. All copyright and database rights in the index values and constituent list vest in FTSE. This document contains information based on the MSCI World and MSCI AC World Indices. Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any of such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI s express written consent. Issued by The Jupiter Global Fund and, in some instances, Jupiter Asset Management Limited which is authorised and regulated by the Financial Conduct Authority. No part of this presentation may be reproduced in any manner without the prior permission of the Company or Jupiter Asset Management Limited. 11782_64855_SCV_GLOBAL_ABSOLUTE_RETURN_JC_0616 ON THE PLANET TO PERFORM