Jupiter expands Merlin range with offshore Real Return fund

Jupiter has launched the Merlin Real Return fund for Algy Smith-Maxwell as it shuts the manager's Jupiter Equity fund.

The Luxembourg-domiciled Merlin Real Return launched to new investors at the start of this month and targets long-term real returns by investing predominately in international equities and bonds via a fund of funds structure. The fund has also been used as tax-efficient rollover vehicle for investors in the £74m Jupiter Equity fund, which was wound up on 31 January. Targeted at institutional investors, Merlin Real Return has a minimum investment of £10m, a subsequent investment minimum of £250,000, and an AMC of 0.75%. Its base currency is euros but the fund also has sterling and doll...