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Jupiter launches Merlin Conservative Portfolio


Jupiter Unit Trust Managers has launched the first addition to the Jupiter Merlin range for a decade.

The Jupiter Merlin Conservative Portfolio, which sits within the IMA Mixed Investment 0-35 per cent Shares sector, has been launched to meet demand for a more cautious product from clients nervous of risk assets but who desire some capital growth with income.

Managed by the Jupiter Independent Funds team comprising John Chatfeild-Roberts, Peter Lawery, Algy Smith-Maxwell, Amanda Sillars and David Lewis, the fund’s indicative portfolio will invest 16 per cent in UK equities, 18 per cent in other equities and four per cent in gold.  However, the largest chunk of the portfolio, some 61 per cent, will be invested in fixed interest with a minimum of 45 per cent in investment grade debt and cash. The fund will, at launch, have minimal exposure to UK government bonds gilts.

This compares with a 32.5 per cent weighting to fixed interest, 33.4 per cent exposure to UK equities, 21.4 per cent to other equities and 5.5 per cent gold exposure for the Jupiter Merlin Income Portfolio.

Chatfeild-Roberts (pictured) says: “We have launched this fund, the fifth in the Jupiter Merlin unit trust range, in direct response to consumer demand. Many investors are put off by equity market volatility but feel they should not be sitting on cash deposits. With a maximum of 35 per cent invested in equities, the Jupiter Merlin Conservative Portfolio offers those investors the ability to dip their toe in the water.

“Within the fixed interest world, we think that government bonds, so called ‘safe-haven’ assets, are very expensive. For example, UK 10 year gilts currently yield less than inflation. So we have chosen instead to focus our fixed interest exposure on investment grade corporate debt, some US Treasury Inflation-Protected Securities (TIPS), emerging market debt and some high yield bonds. This is balanced by equity exposure to, in the main, companies with global brands, many of which pay good dividends. As always, we will be trying to generate the best possible returns for investors, within the parameters of the fund’s IMA sector, using the Jupiter Merlin team’s fund selection and asset allocation skills.”

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