Bonham Carter increases large cap exposure

Edward Bonham Carter has doubled his exposure to large-cap companies in the Jupiter Undervalued Assets fund over the 12 months to the end of May 2003. Bonham Carter said the move was not based on a top-down forecast as to whether the sector will outperform but more on the fact he was able to buy a number of blue-chips on P/Es of 9-11 times. As such, the fund has gone from being 22.3% weighted in large caps on 31 May 2002 to 47.4% on 30 May 2003, with mid-cap exposure falling from 31.3% to 23.4% and small-cap exposure reducing from 46.4% to 29.2%. Within blue-chips, Bonham Carter has ...