The current range comprises income, balanced, growth and worldwide funds, all of which have been running since the early 1990s, apart from the Jupiter Merlin Balanced Portfolio, which was launched in 2002.
Despite this, the balanced fund (£1.2bn) has overtaken the AUM of the Jupiter Merlin Worldwide Portfolio (£740m) and is nearing that of the Jupiter Merlin Growth Portfolio (£1.5bn).
Given the consistent popularity of cautious managed funds, both before and after the managed sectors were re-labelled by the IMA, it makes sense for the asset manager to fill this gap in its Merlin range: as it stands it has a fund in the Mixed Investment 20-60% Shares Sector (income portfolio), one in the Mixed Investment 40-85% Shares Sector (balanced portfolio) and one in the Flexible Investment Sector (growth portfolio).
Presumably the Jupiter Merlin Cautious Portfolio would be housed in the Mixed Sector 0-35% Shares Sector.
The launch would align Jupiter’s offering with those from other fund houses and prepare it for the predicted reliance of advisers on risk-rated multi-asset ranges post-RDR.
The expansion of the range also comes following the hire of two more team members to join Chatfeild-Roberts and his long-standing colleagues Peter Lawry and Algy Smith-Maxwell.
Amanda Sillars and David Lewis joined Jupiter’s Merlin team just over a year ago. Sillars joined as fund selection specialist from JPMorgan and Lewis was hired as an assistant fund manager, moving across from Jupiter’s private clients and charities division.
Jupiter also has two offshore products within the Merlin range, the International Balanced and International Equities portfolios. It is unclear whether the latest addition will be offered in an offshore version as well.
As it stands regulatory approval is still awaited for the cautious managed portfolio.
