Jupiter Asset Management has launched the UK Multi Cap Income fund, adopting the strategy from the previously named GAM UK Equity Income fund through a merger approved by shareholders in June.
The £415m strategy was originally launched in 2017, and has been managed by Adrian Gosden and Chris Morrison, who joined Jupiter this year from GAM Investments. The duo continued to manage the fund on a sub-advisory basis since joining Jupiter before the merger occurred. In the last five years, the fund returned 40.2% compared to the FTSE All Share index’s gain of 30.9%.
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“The new highs achieved by the FTSE 100, busy corporate activity and inflation hitting the 2% target should encourage a more positive narrative on UK equities. With the total cash yield (dividend and buybacks) for the FTSE 100 in 2024 over 6.5%, we believe the UK market offers investors a very attractive combination of dividend delivery and capital appreciation over the next 12-months,” Gosden said.
UK investors removed £1.8bn from UK equities this May, the largest drop for the sector on record, according the the Investment Association.
Kiran Nanda, head of equities at Jupiter, said: “The UK market has very healthy underlying fundamentals and there is every reason to hope that the new government will bring some much-needed political stability and a clear strategy for industrial growth that will cement the country’s recovery and its appeal to international investors.
“We have strengthened our equities platform over the past year to be able to offer investors a compelling and differentiated choice when they feel the time is right to increase allocations to UK stocks.”
