Jupiter rebrands Multi-Asset Income fund
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 today (11 August), seen by Investment Week.
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 or on of its associates.
Jupiter explained the investment policy will change in tandem with the fund name, and will include: at least 70% of the fund invested in collective investment schemes from the current 32%; at least 25% — typically between 40% and 70% — invested in other Jupiter funds as the strategy currently has none; up to 35% of the fund exposed to company shares from 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 charge 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 compare its performance against the existing
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