Jupiter has today launched an absolute return-focused fund within its Merlin multi-manager range.
Jupiter Merlin Real Return is a UK-domiciled unit trust and a NURS version of the Jupiter Merlin Real Return Portfolio SICAV. The new fund aims to deliver a return of 3% net of fees above the Consumer Price Index over three-year rolling periods.
Managed by Jupiter's independent funds team - led by head of strategy, independent funds, John Chatfeild-Roberts - the fund will be heavily biased towards investing in long/short equity absolute return strategies but will also invest in selected equity funds and physical gold, with the ability to invest in fixed interest, commodities and property.
The existing SICAV holds 63% in absolute return funds, 27% in equity funds, 5% in physical gold and 5% in cash.
The Jupiter independent funds team, which also includes Algy Smith-Maxwell, Amanda Sillars, David Lewis and Alastair Irvine, has managed the Jupiter Merlin Real Return Portfolio SICAV since 2013.
Nick Ring, Jupiter's Global head of distribution, said: "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."
Fund manager Algy Smith-Maxwell added: "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 SICAV and we think Jupiter Merlin Real Return should be very well placed at a time when equity and bond markets have enjoyed a nine-year bull run."
Over one year the €166.30m SICAV has returned 7.2% against the 1.7% FO Mixed Asset - Flexible sector average, FE data shows.