fund
Jupiter Merian US Equity Income I GBP
Focused portfolio. US Large cap value. Only a slight dividend yield premium over the S&P500.
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2105.75p
Price (Inc)
These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.
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2045.83p
Price (Acc)
These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?
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0.00%
Initial chargeSome funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!
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0.75%
Annual management charge
This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).
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0.88%
Ongoing charges
This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.
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1.30%
Yield
How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…
Investing in a portfolio of primarily large capitalisation US stocks, the fund aims to achieve returns that are superior to the returns of its benchmarks over complete market cycles, while taking below-average risks. The fund seeks to achieve an attractive total return gained from the combination of dividend yield, growth of the dividend, and capital appreciation.
Fund summary
| Sector | |
| Structure | OFFSHORE FUND |
| Launched | June, 2013 |
| Size | £92m |
| Yield | 1.30% |
| Charging basis | |
| Dividends paid |
Charges
| Standard initial charge | 0.00% |
| Initial charge via Bestinvest | 0.00% |
| Additional bid/offer spread | 0.00% |
| Annual management charge | 0.75% |
| Ongoing charges figure | 0.88% |
Allocation
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Investment process
Manager research
Average monthly relative returns
- 16/17 1.32%
- 17/18 -0.23%
- 18/19 0.13%
- 19/20 0.33%
- 20/21 0.00%
Bestinvest MRI
- 3 years 0.00%
- 5 years 0.00%
- Career 0.29%
- 3 years 0.00%
- 5 years 0.00%
- Career 100.00%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.
Ray Nixon
Nixon joined BHMS in 1994 from Smith Barney, Inc., where he was a member of the firm's Investment Policy Committee and served as their lead institutional stockbroker for the Southwest. He has also served as a research analyst for the Teacher Retirement System of Texas. Nixon is a member of the Board of the Presbyterian Healthcare Foundation, the Board of the Salvation Army, and the Investment Committee of the Susan G. Komen Foundation. He holds a BA and an MBA from the University of Texas.
Track record
Ray Nixon has 13 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.29%. During the worst period of relative performance (from September 2002 - May 2007) there was a decline of 12% relative to the index. The worst absolute loss has been 43%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is more than 99%.
Periods of worst performance
| Absolute | -43.00% (October 2007 - February 2009) |
| Relative | -12.00% (September 2002 - May 2007) |
About the MRI
Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.
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Constraints
portfolio of 30-45 names, all of which must have a 25-year history of paying dividends.