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Jupiter Merlin Growth Portfolio Class I - Income (GBP)

Sell:628.07p Buy:628.07p Change: 0.20p (0.03%)
Prices as at 13 June 2024
Change: 0.20p (0.03%)
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Prices as at 13 June 2024
Change: 0.20p (0.03%)
Prices as at 13 June 2024
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Our view on this Fund

This fund is run by the highly experienced Jupiter Merlin multi-manager team headed by John Chatfeild-Roberts. The team takes a flexible, common sense approach to investment. This is a diversified portfolio, investing in other managed funds, which may appeal to investors looking for a global fund with a UK bias. This adventurous fund can invest up to 100% in equities. The team can make aggressive asset allocation calls, which could add value when these views are correct, but could be painful if mistimed.

Our view on the sector

The Mixed and Flexible Investment sectors could be the answer for investors who want to leave the asset allocation decisions to an expert. Funds in these sectors invest a certain amount of their portfolio in shares, from 0% to 35% in the case of the Mixed Investment 0-35% Shares Sector, 20% to 60% for the Mixed Investment 20-60% Shares Sector, 40% to 85% for the Mixed Investment 40-85% Shares Sector, and 0% to 100% for the Flexible Investment Sector. Any proportion of the fund not invested in shares can be invested in bonds, cash, currencies, commodities or property. Funds within these sectors can be very different from each other so they'll perform differently too. Each should be looked at on its own merits, taking account of your investment objectives and the amount of risk you want to take.

Performance Analysis

This fund boasts an excellent long-term performance record, outperforming the MSCI AC World TR index by some margin. Our analysis suggests style, including sector and geographical allocation, has largely driven returns. We would expect this given the management team focus their attention on asset allocation and select fund managers based on their styles. They will often take relatively aggressive exposures, more recently investing heavily in areas such as Japan, gold and higher risk emerging markets which has had mixed success.

Investment Philosophy

The management team's role is to understand individual fund managers in the same way that other fund managers understand equities or bonds. The individual who runs a fund is the most important factor in how it is likely to perform. The aim is to pick managers who have the ability to outperform through a market cycle. Key factors include fund manager tenure, fund management style, likelihood of future success and performance achieved versus the risks taken (in that order). Expertise is then needed to blend the best funds from across a range of asset classes and geographical regions - to try to buy the right quantities of the right managers at the right time.

Process and Portfolio Construction

The managers take positions based on their 'big picture' view of which markets are likely to perform well. They are happy to hold a significant cash weighting temporarily if they believe this will benefit the fund. Generally, foreign investments are left open to currency risk unless the managers have a strong conviction the currency will move against them. The fund sits within the IMA Flexible sector and can therefore hold a range of different investments. However realistically this fund will typically be predominantly invested in shares.

question mark Manager Track Record Based on HL Quantitative Research

This information is currently unavailable.

Fund Track Record

13/06/19 to 13/06/20 13/06/20 to 13/06/21 13/06/21 to 13/06/22 13/06/22 to 13/06/23 13/06/23 to 13/06/24
Annual return -1.46% 21.06% 2.77% 3.28% 12.98%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

Fund Management Group Comment

Launched in 1985 as a specialist boutique, Jupiter has grown to be one of the UK's most successful and respected investment management groups. Jupiter currently manages assets spread across a range of UK and offshore mutual funds, multi-manager products, hedge funds, institutional mandates and investment companies.

Jupiter has gained a reputation for achieving outperformance across a broad variety of portfolios specialising in different markets, including UK equities, Europe and bonds.

Information about the fund

Fund manager biography

manager photo
Manager Name: Jupiter Merlin team
Manager start date: 1 May 1997
Manager located in: London

John Chatfeild-Roberts is head of the Jupiter Independent Funds Team and is a Main Board Director of Jupiter. Algy Smith-Maxwell joined John in 1999 and they were joined in 2011 by Amanda Sillars and David Lewis. Alastair Irvine joined the team in 2015 as a Product Specialist.

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Benchmark data provided subject to this disclaimer.
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account