Jupiter aligns Multi-Asset Income fund with Merlin range
Management and fixed annual charges will remain the same, but the ongoing charge figure will increase by 0.08%.
The change follows the transfer of the management of the fund's portfolio to the Jupiter Merlin multi-asset team in November 2022. This will reflect the alignment with other funds managed by the Merlin team, Jupiter said in an investor letter seen by Investment Week today (11 August).
Jupiter launches Merlin Select multi-manager range
The strategy's investment policy will also be altered, as the Merlin range has greater exposure to collective investment schemes and ETFs than the previous manager. Additionally, the Merlin Select range also has a higher exposure (of at least 25%) to funds managed or operated by Jupiter.
Jupiter explained the investment policy will change in tandem with the fund name and will result in a dramatic shift in the fund's makeup.
At least 70% of the fund will be invested in collective investment schemes, up from the current 32%; at least 25% — typically between 40% and 70% — will be invested in other Jupiter funds, up from the strategy's current 0%; up to 35% of the fund exposed to company shares, in line with the current 34%; and any additional types of transferrable securities and fixed interest securities.
Despite the changes, the risk profile of the fund will remain the same, Jupiter said. Management fees and the fixed annual charge for all unit classes will also remain unchanged.
The ongoing charges figure is expected to increase by 0.08%, however, due to the additional costs linked to increasing the fund's exposure to collective investment schemes.
Jupiter scraps IA benchmarks from Merlin range
From 13 October 2023, the fund will also change its benchmark and will no longer
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