Jupiter Asset Management has launched a multi-asset macro fund to be managed by Talib Sheikh, whom the firm poached from JP Morgan last year.
The Jupiter Flexible Macro fund will target a return of 5 per cent above the rate paid on cash deposits over a three- to five-year period.
It will invest in bonds, equities and derivatives with the aim of being only half as volatile as equity markets and will charge 1.25 percent per annum.
Mr Sheikh, who ran a multi-asset macro fund strategy at JP Morgan prior to his departure, will be assisted by the broader multi-asset team at Jupiter.
The team has seen some new faces in recent months. Following the hiring of Mark Richards as multi-asset strategist from JP Morgan in January, it was recently joined by Matthew Morgan from Blackrock as product specialist and Joseph Chapman as assistant fund manager.
Stephen Pearson, chief investment officer at Jupiter, said: “In today’s market environment, generating meaningful returns without excessive risk will require an active, unconstrained and flexible approach.
"Talib has a history of strong performance in this space and today’s launch demonstrates our commitment to providing a range of products to suit our clients’ needs."
Patrick Connolly, of advice firm Chase De Vere, said: “Many investors are looking for a degree of security and to diversify holdings within their portfolio.
"This can be achieved through a flexible multi-asset approach as this fund will adopt.
"However, the success or failure of this fund will depend on the fund management team making the right calls and, in an uncertain environment, it will be challenge for them to make the right macro calls and to also understand the likely performance impact of macro themes and trends.”
Multi-asset funds have risen in popularity with advisers in recent years.
In June advice firm Ascot Lloyd launched its own multi-asset funds and in April fund house Investec expanded its multi-asset fund management team by hiring former JP Morgan fund manager James Elliot.
david.thorpe@ft.com
