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Jupiter sets up multi-manager service

Jupiter is rolling out its multi-manager service next week with the launch of three funds of funds.

The Jupiter growth portfolio, income portfolio and worldwide portfolio trusts will launch on May 29, with an offer period until June 18.

The funds will hold around 15 funds each and be managed by director John Chatfeild-Roberts, who Jupiter poached from Lazard in February.

The growth portfolio will hold 50 per cent in UK equities, 40 per cent in global equities and 10 per cent in fixedinterest funds.

The income portfolio will hold 60 per cent in UK equities and 40 per cent in fixed interest while the worldwide portfolio will hold 90 per cent in global equities and 10 per cent in fixed interest.

The initial charge on each fund is 5.25 per cent, discounted to 3.75 per cent during the offer period.

Annual management cha-rge is 1.5 per cent. Initial commission is 3 per cent and 0.5 per cent renewal.

Minimum investment is £10,000 for lump sums outside an Isa or £1,000 or £50 a month within an Isa.

Chatfeild-Roberts says: “What you have is an independently managed product, which is tax-efficient and managed by a team with a good track record who are now at a performance-driven house. It is an all-in-one wrap.”

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