Jupiter Merlin Worldwide Portfolio

  • 272.72p
    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.

  • 272.70p
    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?

  • 5.25% 0.00%

    Initial charge

    Some 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!

  • 1.50%
    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).

  • 2.61%
    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.

  • 0.00%
    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…

Prices as at 24 March 2020, fund data last updated 21 January 2014

This fund targets long-term capital growth by investing in other funds, both within Jupiter and from other management groups. The underlying funds provide global exposure primarily to equities, but commodities, fixed interest and property funds may also be included. Manager John Chatfeild-Roberts and his team aim to add value primarily through their economic view, choosing an asset allocation and funds they hope will capitalise on this.

Fund summary

Sector Global
Structure UNIT TRUST
Launched
Size £497m
Yield 0.00%
Charging basis Income
Dividends paid 31 Jul

Charges

Standard initial charge 5.25%
Initial charge via Bestinvest 0.00%
Annual management charge 1.50%
Ongoing charges figure 2.61%

Allocation

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Investment process

The key driver of the process is the team's view on the direction of the economy and markets. Chatfeild-Roberts subscribes to the view that the majority of added value from fund of funds products comes from having a view as to “what will happen next” and believes it is particularly important to accurately predict key economic turning points. The team then select funds and managers they believe will benefit from the expected conditions, both from within Jupiter and from other management groups. The fund invests primarily in equity funds across a diversified geographical range, as well as using specialist sector funds. Commodity, property and bond funds may also be used, although this will be at most a small part of the portfolio. Historically the team has moved aggressively into cash during adverse market conditions. Fund selection includes both quantitative and qualitative analysis, with around 150 fund manager meetings taking place each year. Buy and sell decisions are subject to a vote amongst the team.

The core team members have been together for over a decade with the team head John Chatfeild-Roberts becoming Jupiter's CIO in 2010. Chatfeild-Roberts since recruited additional staff to maintain team strength. This is a 100% equity fund invested in 12 underlying equity-only funds in a number of regions. Following a review of our recommended fund list we have withdrawn our rating on this product owing to the availability of higher conviction alternatives elsewhere.

Manager research

Average monthly relative returns

  • 15/16 0.00%
  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%
  • 19/20 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Track record

Periods of worst performance

Absolute 0.00% ()
Relative 0.00% ()

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.

Allocation

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Sector breakdown

Financials 90.00%
Others 9.00%

Portfolio

The manager prefers a tight portfolio, taking meaningful positions in 10-20 funds. Currency hedging may be used.

Key Investor Information - Income

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Key Investor Information - Accumulation

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