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Jupiter Merlin Income

Elite Rated by FundCalibre

This fund of funds is managed by one of the most respected multi-manager teams in the industry. It has been designed to provide an immediate and growing income, with the potential for capital growth too. The fund must have a minimum of 45% in cash and bonds and up to 35% in equities.

Company Description

Founded in 1985, Jupiter Asset Management has grown from a specialist investment boutique to a global fund management company. It provides a range of products from bond and equity funds to multi-asset strategies for both retail and institutional clients.


Fund Manager

John Chatfeild-Roberts heads up the Merlin team, with Peter Lawery, Algy Smith-Maxwell, Amanda Sillars and David Lewis as co-managers on the fund. The team manage the fund collectively rather than dividing up responsibilities, although John has the final say.


Finding good fund managers is art, not science, although a robust framework helps!

John Chatfeild-Roberts - Fund Manager

The Investment Process

The process combines macroeconomic analysis with in-depth fund research. The intention is to invest in the optimum blend of asset classes via the right fund managers, and critically, at the right time. The team are pragmatic in their approach and prepared to move quickly if they believe their original analysis was wrong or market conditions have changed. The geographical exposure will be diversified, but with a core of UK-focused funds.


The fund’s investment mandate allows for a considerable allocation towards bonds and cash, which will lower its risk profile. As it is a multi-manager fund, there are a large number of underlying holdings to help diversify risk. This results in the fund being about one third as volatile as the UK stock market.

Our Opinion

The success of Jupiter’s Merlin range of multi-manager funds comes down to the strength and stability of the team running them. This fund has the added income element, which is so important for many investors today. It is a great core holding for income seekers looking to have the hard work done for them.

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