TEXT-Fitch affirms India Select SICAV's 'strong' Fund Quality Rating

(The following statement was released by the rating agency)

Oct 1 - Fitch Ratings has affirmed Jupiter India Select SICAV's 'Strong'Fund Quality Rating. The fund is managed by Jupiter Asset Management Ltd.

Jupiter India Select SICAV is a long-only Indian equities fund with USD140m ofassets as of end-August 2012.

The investment approach is based on bottom-up selection of around 60-80 stockswithout regard to index weighting. As a long-term shareholder, the fund investsin companies that offer growth at a reasonable price and demonstrate solidcorporate governance and sound management. The investment process emphasisesproprietary fundamental research and intimate knowledge of the investibleuniverse. The highly accountable lead portfolio manager, Avinash Vazirani,benefits from significant leeway in portfolio construction, in line withJupiter's investment culture. Independent functions and committees provide aneffective risk and performance oversight.

The fund has outperformed its index and Lipper category "Equity India" sincelaunch. However, performance in 2012 to date has been weak resulting in itsLipper leader score for consistent return for three years dropping to 3 from 5.Fitch bases its performance analysis of the fund on a longer period, includingthat covered by a precursor fund and therefore maintains its view that the fundcontinues to perform well longer term.

Jupiter is a listed, UK, retail-focused asset manager, managing GBP23.4bn atJune 2012 (79% invested in equities) and employing 434 people.

Fitch's Fund Quality Ratings combine the agency's experience in qualitative fundanalysis with rankings and performance data from Lipper, a Thomson Reuterscompany. Fitch's Fund Quality Ratings offer an independent, forward-lookingassessment of a fund's key performance and risk attributes and consistency oflonger-term returns, relative to peer group or benchmarks. The ratings focus onthe fund manager's investment process, key fund performance drivers, riskmanagement, and the quality of the fund's operational infrastructure.

For more information, please see

To receive forthcoming Fund Quality Rating research, opt in at:

Additional information is available at

. The ratings abovewere solicited by, or on behalf of, the issuer, and therefore, Fitch has beencompensated for the provision of the ratings.

Applicable criteria, 'Fund Quality Rating Criteria', dated 19 September 2011,are available at

.

Applicable Criteria and Related Research:Fund Quality Ratings Criteria: Assessing Funds' Investment Processes andOperational Attributes

(New York Ratings Team)

((e-mail: [e-mail]; Reuters Messaging:[e-mail]; Tel:[phone];))