Fact sheet: Jupiter Merlin Balanced Portfolio

Rated Fund Information
Rated Funds Group
?Money Observer has arranged all its Rated Funds into easy to understand Rated Fund Groups, comprising funds and investment trusts.
MIXED ASSET - HIGHER RISK
Sector
UT Mixed Investment 40-85% Shares
Fund type
Unit Trust
Primary aim
No data available.
Why Money Observer Rates Jupiter Merlin Balanced Portfolio

New for 2017. A one-stop shop for investors who want a professional fund-picker

This fund is one of five Jupiter Merlin funds of funds that invest in a range of other managers' funds to achieve their goals. The Balanced fund is designed to be suitable for both growth and income investors who want to benefit from stock market growth but don't want to commit entirely to equities.

A maximum of 85 per cent can be invested in equity funds. Balanced has been run since its inception in 2002 by Algy Smith-Maxwell and John Chatfield-Roberts. It acts as a 'one-stop shop' for investors.

Jupiter has one of the most experienced and long established fund-of-funds teams. They aim to buy the right funds, run by the right people at the right time.

But the starting point is asset allocation. At the end of 2016, the Balanced fund had its maximum allocation to equities. The balance was held in fixed interest, property and gold funds.

When choosing funds, the team's first priority is to find the best managers, so they conduct face-to-face meetings to find out how managers run their funds. They do not rule out any funds automatically because of their size or the length of their track record.

Each fund is looked at on its own merits and Jupiter's managers then use their expertise to select who they consider to be the best in each asset class and region, with the aim of producing the best possible returns.

3 Year Performance
Fund Performance26.9%
Average of Rated Funds Group28.2%
Sector Performance20.6%
Fund information
Fund name
Jupiter Merlin Balanced Portfolio I Acc
Fund manager company
Jupiter Unit Trust Mgrs Ltd
Fund type
Unit Trust
Fund managers
  • Algy Smith-Maxwellsince 30/09/2002
  • David Lewissince 30/06/2014
  • Amanda Sillarssince 30/06/2014
  • John Chatfeild-Robertssince 30/09/2002
Accolades
Fund objective
To achieve long-term capital growth with income by investing predominantly in unit trusts, OEICs, Exchange Traded Funds and other collective investment schemes across several management groups. The underlying funds invest in international equities, fixed interest stocks, commodities and property.
Benchmark
  • No Specified Index
Investment style
Balanced
Investment method
None
Quick stats
1 Year return
6.2%
1 Year rank in sector
55/282
Sector
UT Mixed Investment 40-85% Shares
Yield
2.1%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
1.63%
Fund size
£1,729m (£1,650m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
70
Top in this sector
Fund name1 Year
MFM Hathaway14.8%
Aberdeen Divfd Cre Advntr12.8%
S&W Acacia12.5%
Rathbone Sussex Growth11.8%
Premier Diversified11.4%
...more in UT Mixed Investment 40-85% Shares

Performance snapshot

Holdings snapshot

  • International28.6%
    UK27%
    USA15.1%
    Others7.1%
    Money Market6%
  • Financials77%
    Money Market12.7%
    Others10.3%
  • International Equities28.6%
    UK Equities27%
    US Equities15.1%
    Others7.1%
    Money Market6%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-3.8%-0.8%0.6%6.2%26.9%48.9%
Sector-4.3%-1.7%-0.2%4.4%20.6%39.3%
Rank within sector70 / 29369 / 29284 / 28755 / 28233 / 24246 / 223
Quartile1st1st2nd1st1st1st
Calendar performance
 YTD - 20182017201620152014
Fund-2.2%11.2%14.2%6%6.5%
Sector-3%10%13.3%2.2%5%
Rank within sector47 / 294100 / 279108 / 26520 / 24269 / 233
Quartile1st2nd2nd1st2nd
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
1.02
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
1.1
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
0.77
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
7.64
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
1.92
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
0.88
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.94
Price movement
52 week high196.27
52 week low177.42
Current bid price-
Current offer price-
Current mid price188.47
Region
1International28.6%
2UK26.99%
3USA15.15%
4Others7.14%
5Money Market5.96%
6Europe5.86%
7Japan5.32%
8Not Specified4.97%
Industry sector
1Financials76.98%
2Money Market12.69%
3Others10.33%
Asset type
1International Equities28.6%
2UK Equities26.99%
3US Equities15.15%
4Others7.14%
5Money Market5.96%
6European Equities5.86%
7Japanese Equities5.32%
8Fixed Interest4.97%
Individual holdings
No data available.
Management
Fund manager group
Jupiter
Fund manager company
Jupiter Unit Trust Mgrs Ltd
Fund type
Unit Trust
Fund objective
To achieve long-term capital growth with income by investing predominantly in unit trusts, OEICs, Exchange Traded Funds and other collective investment schemes across several management groups. The underlying funds invest in international equities, fixed interest stocks, commodities and property.
Benchmark
  • No Specified Index
Investment style
Balanced
Investment method
None
Fund managers
NameSinceBiography
Algy Smith-Maxwell30/09/2002Algy Smith-Maxwell joined Jupiter in 2001 and is currently a fund manager in the Jupiter Independent Funds Team, which is responsible for managing the Jupiter Merlin Portfolios. Before joining Jupiter, Algy started his career in 1995 as a fund analyst for Henderson's before becoming a fund manager for Lazard Asset Management in 1999.
David Lewis30/06/2014David joined Jupiter in 2008, initially in the Private Client & Charities Team as a portfolio assistant then as an assistant fund manager from February 2010. In May 2011 David joined the Jupiter Independent Funds Team, which is responsible for managing the Jupiter Merlin Portfolios. Before joining Jupiter, David worked at IFA Bestinvest as an assistant investment manager within its Discretionary Investment Management department. David is a Chartered Member of the Chartered Institute for Securities & Investments and is a CFA charterholder.
Amanda Sillars30/06/2014Amanda Sillars joined Jupiter in 2011 and is currently a fund manager in the Jupiter Independent Funds Team, which is responsible for managing the Jupiter Merlin Portfolios. Before joining Jupiter, Amanda spent five years at JP Morgan Asset Management as investment director and executive director. Amanda also led the Corporate Governance team for Emerging Markets, Europe and Asia (EMEA). Prior to this, Amanda spent ten years at JP Morgan Private Bank and Flemings, as a fund analyst and vice president. Amanda is a Fellow of the Chartered Institute for Securities & Investments (1999) and a Fellow of the US Securities Exchange Commission Series 7 and Series 3. She has also gained an Award in Pensions (DB & DC) Management Trustee Exam (2008).
John Chatfeild-Roberts30/09/2002John joined Jupiter in 2001 and is currently Head of Strategy, Independent Funds. During his time at Jupiter John has established the award-winning Jupiter Independent Funds Team, which continues to manage the Jupiter Merlin Portfolios. John was appointed as Jupiter’s Chief Investment Officer in 2010. He stood down from this role in September 2015 to focus on running the portfolios. John is also a Director of Jupiter Fund Management PLC. John started his fund management career at Henderson's and also worked at Lazard Asset Management. He is a Fellow of the Chartered Institute for Securities and Investment.
Compliance
IA Recognised, Non UCITS Retail Scheme
Domicile
No data available.
Fund for sale in
United Kingdom
Jupiter Merlin Balanced Portfolio Acc
Initial charge-
Annual charge1.5%
Min single investment£500
Min regular saving£50
Available in ISAYes
Ongoing charge (OCF)2.38%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price180
CurrencyGBX
Price updated15/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeJU35
Jupiter Merlin Balanced Portfolio I Acc
Initial charge-
Annual charge0.75%
Min single investment£5,000,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)1.63%
Total expense ratio (TER)1.66%
Bid price-
Offer price-
Mid price188.47
CurrencyGBX
Price updated15/02/2018
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code09PW
Jupiter Merlin Balanced Portfolio I Inc
Initial charge-
Annual charge0.75%
Min single investment£5,000,000
Min regular saving£50,000
Available in ISANo
Ongoing charge (OCF)1.63%
Total expense ratio (TER)1.64%
Bid price-
Offer price-
Mid price132.33
CurrencyGBX
Price updated15/02/2018
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi code09PX
Jupiter Merlin Balanced Portfolio Inc
Initial charge-
Annual charge1.5%
Min single investment£500
Min regular saving£50
Available in ISAYes
Ongoing charge (OCF)2.38%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price125.74
CurrencyGBX
Price updated15/02/2018
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeJU42
Data provided by

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