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Nick Ring, Jupiter

Jupiter adds absolute return-focused fund to Merlin multi-manager range


Jupiter has launched Jupiter Merlin Real Return, a UK domiciled unit trust managed by Jupiter’s Independent Funds team.

The fund, a UK-domiciled NURS version of the Jupiter Merlin Real Return Portfolio (SICAV), is an actively managed multi-manager portfolio that aims to deliver a return of 3 per cent net of fees above the Consumer Price Index over three-year rolling periods.
The team will manage the new portfolio with the same philosophy at the heart of the existing Jupiter Merlin range: to invest in the right people, in the right quantity, at the right time. The fund will be heavily biased towards investing in long/short equity absolute return strategies. The team will also invest in selected equity funds and physical gold, whilst retaining the flexibility to invest in fixed interest, commodities and property.
The team plans to invest the fund in a similar manner to the current Jupiter Merlin Real Return Portfolio (SICAV), looking to hold around 63 per cent in absolute return funds, 27 per cent in equity funds, 5 per cent in physical gold and 5 per cent in cash. The absolute return funds held will all be long-short equity portfolios, but the team can invest in other strategies if they see fit.
The Jupiter Independent Funds Team (John Chatfeild-Roberts, Algy Smith-Maxwell, Amanda Sillars, David Lewis and Alastair Irvine), has over 18 years’ experience in investing in long-short portfolios, and has managed the Jupiter Merlin Real Return Portfolio (SICAV) since 2013. Since launch the Portfolio has returned 45.2 per cent (7.2 per cent pa) versus a benchmark return of 2.7 per cent with a beta of 0.33, volatility of 5.36 and a Sharpe Ratio of 1.35.
Nick Ring (pictured), Jupiter’s Global Head of Distribution, says: “The Jupiter Independent Funds Team is one of the best-respected multi-manager teams in the industry. We have seen clear demand from existing and prospective clients for us to extend this strategy into a unit trust product, offering exposure to the growing universe of absolute return funds, while leaving fund selection in the hands of an experienced team of investors.”
Algy Smith-Maxwell, Fund Manager, Jupiter Independent Funds Team, says: “We are excited to launch this new fund, giving UK investors access to the team’s established expertise in selecting absolute return managers. We are very proud of the track record that we have delivered in the Jupiter Merlin Real Return Portfolio (SICAV), and we think that Jupiter Merlin Real Return should be very well placed at a time when equity and bond markets have enjoyed a 9-year bull run.”

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