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The Jupiter Global Fund Société D’Investissement À Capital Variable (SICAV) Annual Review and Audited Financial Statements for the Year Ended 30 September 2017

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The Jupiter Global Fund Société D’Investissement À Capital Variable (SICAV) Annual Review and Audited Financial Statements for the Year Ended 30 September 2017 The Jupiter Global Fund Société d’Investissement à Capital Variable (SICAV) Annual Review and Audited Financial Statements For the year ended 30 September 2017 R.C.S. B 110.737 THE JUPITER GLOBAL FUND Contents Contents Investment Objectives 4 Management, Administration and Independent Auditor 6 Board of Directors’ Report 7 Report of the Depositary 10 Independent Auditor’s Report 11 Statement of Net Assets 14 Statement of Operations and Changes in Net Assets 18 Statement of Changes in Shares Issued 22 Statistical Information 26 Review of Portfolios and Schedule of Investments ■ Jupiter Asia Pacific Income 31 ■ Jupiter China Select 36 ■ Jupiter Dynamic Bond 41 ■ Jupiter Europa (1) 69 ■ Jupiter European Feeder (2) 83 ■ Jupiter European Growth 86 ■ Jupiter European Opportunities 91 ■ Jupiter Global Absolute Return (2) 97 ■ Jupiter Global Convertibles 109 ■ Jupiter Global Ecology Diversified (2) 119 ■ Jupiter Global Ecology Growth 129 ■ Jupiter Global Emerging Markets Corporate Bond (3) 135 ■ Jupiter Global Emerging Markets Equity Unconstrained (4) 146 ■ Jupiter Global Emerging Markets Short Duration Bond (5) 152 ■ Jupiter Global Financials 161 ■ Jupiter Global Value (6) 168 ■ Jupiter India Select 173 ■ Jupiter Japan Select 180 ■ Jupiter New Europe 184 ■ Jupiter Strategic Total Return (2) 188 ■ Jupiter UK Dynamic Growth (2) 200 Notes to the Financial Statements 205 Additional Information 223 Notice of Meeting 225 Proxy Form Subscriptions cannot be received on the basis of this report. Subscriptions can only be accepted on the basis of the current prospectus accompanied by the key investor information document or (for Hong Kong investors) key fact statements of the respective funds, supplemented by the latest annual report and semi-annual report if published thereafter. (1) With effect from 20 January 2017 this Fund is not authorised in Hong Kong and not available to Hong Kong residents. (2) This Fund is not authorised in Hong Kong and not available to Hong Kong residents. (3) Jupiter Global Emerging Markets Corporate Bond was launched on 7 March 2017. This Fund is not authorised in Hong Kong and not available to Hong Kong residents. (4) With effect from 20 March 2017 this Fund is authorised in Hong Kong and available to Hong Kong residents. (5) Jupiter Global Emerging Markets Short Duration Bond was launched on 5 September 2017. This Fund is not authorised in Hong Kong and not available to Hong Kong residents. (6) Prior to 3 July 2017 the Fund was known as Jupiter Global Equities. 3 THE JUPITER GLOBAL FUND Investment Objectives The Jupiter Global Fund – The investment objective of Jupiter Asia Pacific Income is to achieve long-term capital growth Jupiter Asia Pacific Income and income by investing primarily in quoted companies in any economic sector involved directly or indirectly in the Asian and Pacific Region (excluding Japan). (‘Jupiter Asia Pacific Income’) The Jupiter Global Fund – The investment objective of Jupiter China Select is to achieve long-term capital growth by Jupiter China Select investing in companies in any economic sector involved directly or indirectly in Greater China. (‘Jupiter China Select’) The Jupiter Global Fund – The investment objective of Jupiter Dynamic Bond is to achieve a high income with the Jupiter Dynamic Bond prospect of capital growth from a portfolio of investments in global fixed interest securities. (‘Jupiter Dynamic Bond’) The Jupiter Global Fund – The investment objective of Jupiter Europa is to generate positive long-term returns across Jupiter Europa varying market conditions principally from a portfolio of investments in European equities and equity related securities. (‘Jupiter Europa’) (1) The Jupiter Global Fund – The investment objective of Jupiter European Feeder is to achieve long-term capital growth Jupiter European Feeder principally through investment in the Jupiter European Master Fund. (‘Jupiter European Feeder’) (2) The Jupiter Global Fund – The investment objective of Jupiter European Growth is to achieve long-term capital growth Jupiter European Growth by exploiting special investment opportunities in Europe. (‘Jupiter European Growth’) The Jupiter Global Fund – The investment objective of Jupiter European Opportunities is to achieve long-term capital Jupiter European Opportunities growth from investments in companies quoted on a European Stock Exchange. (‘Jupiter European Opportunities’) The Jupiter Global Fund – The investment objective of Jupiter Global Absolute Return is to generate absolute return Jupiter Global Absolute Return over a three year rolling period, independent of market conditions, by investing on a global basis. (‘Jupiter Global Absolute Return’) (2) The Jupiter Global Fund – The investment objective of Jupiter Global Convertibles is to achieve long-term capital growth Jupiter Global Convertibles through investment on a global basis in a diversified portfolio of convertible securities. (‘Jupiter Global Convertibles’) The Jupiter Global Fund – The investment objective of Jupiter Global Ecology Diversified is to generate long-term capital Jupiter Global Ecology Diversified appreciation and income investing primarily in global equity and fixed income securities. (‘Jupiter Global Ecology Diversified’) (2) The Jupiter Global Fund – The investment objective of Jupiter Global Ecology Growth is to generate long-term capital Jupiter Global Ecology Growth growth from investment worldwide in companies that are responding positively to the challenge of environmental sustainability and climate change. (‘Jupiter Global Ecology Growth’) The Jupiter Global Fund – The investment objective of Jupiter Global Emerging Markets Corporate Bond is to achieve Jupiter Global Emerging Markets long term income and capital growth through investment in fixed interest securities of issuers exposed directly or indirectly to emerging market economies worldwide. Corporate Bond (‘Jupiter Global Emerging Markets Corporate Bond’) (3) (1) With effect from 20 January 2017 this Fund is not authorised in Hong Kong and not available to Hong Kong residents. (2) This Fund is not authorised in Hong Kong and not available to Hong Kong residents. (3) Jupiter Global Emerging Markets Corporate Bond was launched on 7 March 2017. This Fund is not authorised in Hong Kong and not available to Hong Kong residents. 4 THE JUPITER GLOBAL FUND Investment Objectives The Jupiter Global Fund – The investment objective of Jupiter Global Emerging Markets Equity Unconstrained is to Jupiter Global Emerging Markets Equity achieve long-term capital growth through investment in equity and equity-related securities of companies exposed directly or indirectly to emerging market economies worldwide. Unconstrained (‘Jupiter Global Emerging Markets Equity Unconstrained’) (4) The Jupiter Global Fund – The investment objective of Jupiter Global Emerging Markets Short Duration Bond is to Jupiter Global Emerging Markets Short achieve long term income and capital growth by investing in a portfolio of debt securities from emerging market countries that have, on average, short durations. Duration Bond (‘Jupiter Global Emerging Markets Short Duration Bond’) (5) The Jupiter Global Fund – The investment objective of Jupiter Global Financials is to achieve long-term capital Jupiter Global Financials growth principally through investment in equities of financial sector companies on an international basis. (‘Jupiter Global Financials’) The Jupiter Global Fund – The investment objective of Jupiter Global Value is to achieve long-term total return Jupiter Global Value principally through investment in equities on an international basis. (‘Jupiter Global Value’) (6) The Jupiter Global Fund – The investment objective of Jupiter India Select is to achieve long-term capital growth through Jupiter India Select investment primarily in India and selected opportunities in Pakistan, Bangladesh, Sri Lanka, Bhutan, Nepal and the Maldives. (‘Jupiter India Select’) The Jupiter Global Fund – The investment objective of Jupiter Japan Select is to achieve long-term capital growth Jupiter Japan Select through investing primarily in Japan and in selected opportunities in Asia. (‘Jupiter Japan Select’) The Jupiter Global Fund – The investment objective of Jupiter New Europe is to achieve long-term capital growth Jupiter New Europe through investment primarily in Central and Eastern Europe, Russia and Turkey and, in addition, investment in non-European former member states of the Union of Soviet (‘Jupiter New Europe’) Socialist Republics (‘USSR’). The Jupiter Global Fund – The investment objective of the Jupiter Strategic Total Return is to generate positive long- Jupiter Strategic Total Return term returns across varying market conditions from an actively managed portfolio of different asset classes, including equities, bonds, convertible bonds, currencies and money market (‘Jupiter Strategic Total Return’) (2) securities on an international basis. The Jupiter Global Fund – The investment objective of the Jupiter UK Dynamic Growth is to generate long-term capital Jupiter UK Dynamic Growth appreciation through investing primarily in UK securities. (‘Jupiter UK Dynamic Growth’) (2) (2) This Fund is not authorised in Hong Kong and not available to Hong Kong residents. (4) With effect from 20 March 2017 this Fund is authorised in Hong Kong and available to Hong Kong residents. (5) Jupiter Global Emerging Markets Short Duration Bond was launched on 5 September 2017. This Fund is not authorised in Hong Kong and not available to Hong Kong residents. (6) Prior
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