We’re updating the name and investment policy of the SL Jupiter Multi-Asset Income Fund.
 

What’s happening?

Jupiter is making changes to its Jupiter Multi-Asset Income Fund.

A new investment manager is taking over the running of the fund and as a result, they’re changing the investment policy and the name of the following funds:

  • SL Jupiter Multi-Asset Income Pension Fund (fund code - KH) 
  • SL Jupiter Multi-Asset Income Life Fund (fund code - LK)

Standard Life is making the same changes to its funds in line with Jupiter. 

You can see details of the original and replacement fund name and description in the tables further down this page.
 

When will this happen? 

These changes will take effect from 13 October 2023. The fund factsheet and fund description will be updated soon to reflect these changes. View more information on this fund including the factsheet, by searching using the fund code or fund name.
 

What does this mean for my clients? 

If they’re invested in this fund, we’ll write to them about these changes. However, they don’t need to do anything, we’re just letting them know for their information.

Please speak to your Standard Life Account Manager for more information.
 

Current fund name New fund name

SL Jupiter Multi-Asset Income Pension Fund
(fund code – KH)

SL Jupiter Merlin Monthly Income Select Pension Fund
(fund code – KH)
Current investment policy New investment policy

Summary: At least 60% of the Fund is invested in fixed interest securities (including collective investment schemes which themselves invest mainly (i.e. at least 50%) in fixed income securities), cash, near cash, money instruments and deposits. The reminder of the Fund will be invested in other assets, including shares of companies and collective investment schemes. The Fund may use derivatives for investment purposes. At least 50% of the Fund will be i) issued by companies based in the UK or ii) sterling-denominated or hedged back to sterling. Investment in collective schemes can include funds managed by Jupiter or an associate of Jupiter.
 
To attain the objective by investing at least 60% of the Fund in corporate bonds, convertible bonds and other fixed interest-bearing securities (including collective investment schemes which themselves invest mainly (i.e. at least 50%) in fixed income securities), cash, near cash, money market instruments and deposits. A maximum of 25% of the Fund can be held in high yield bonds.

The reminder of the Fund will be invested in other transferable securities (including shares of companies), exchange traded funds (ETFs) and collective investment schemes (including funds managed or operated by Jupiter or an associate of Jupiter).

At least 50% of the Fund’s investments will be either:
(i) issued by companies incorporated, headquartered, listed or which conduct a majority of their business activity in the UK; or (ii) denominated in sterling or hedged back to sterling. 

The Fund may enter into derivative transactions for:
(i) efficient portfolio management (including hedging) purposes, i.e. to reduce risk, minimise costs or generate additional capital and/or income; or (ii) investment (i.e. speculative) purposes, such as creating both long and short positions through derivatives. The Investment Manager expects that derivative transactions will be used primarily for efficient management purposes. 

The Investment Manager seeks to exercise appropriately its stewardship responsibilities on behalf of its clients in order to meet the Fund’s investment objective. Stewardship entails the analysis of, and engagement with, investee companies on material factors relating of their governance and the long-term sustainability of their business models.

The Investment Manager is not in any way constrained by the benchmark in their portfolio positioning.

Summary: At least 70% of the Fund is invested in collective investment schemes, with typically between 40% and 70% and at least 25% in funds managed by Jupiter or an associate of Jupiter. Up to 30% of the Fund may be invested in other transferable securities, cash and near cash. The Fund will have exposure (direct and/or indirect) of: (i) at least 60% to fixed interest securities; and (ii) up to 35% to shares of companies. At least 50% of the Fund will (in aggregate) be invested directly or indirectly in i) shares issued by companies based in the UK and/or funds investing in such companies; and/or ii) transferable securities which are sterling-denominated or hedged back to sterling. The Fund may use derivative transactions for investment purposes. 

To attain the objective by investing at least 70% of the Fund globally in collective investment schemes and exchange traded funds (ETFs) which give exposure to shares of companies, fixed-interest debt securities, money market instruments, deposits and cash. The Fund forms part of the Merlin Select range, meaning that typically between 40% to 70% and at least 25% will be invested in funds managed and operated by Jupiter or an associate of Jupiter. 

The Fund may also invest in other transferable securities such as exchange traded commodities, as well as cash and near cash, money market instruments and deposits.

The Fund will have exposure (directly and/or indirectly) of: (i) at least 60% to fixed interest securities, which may include investment grade bonds, high yield bonds (to a maximum of 25%), government bonds, preference bonds and convertible bonds; and (ii) up to 35% to shares of companies. 

At least 50% of the Fund will (in aggregate) be invested directly or indirectly in: (i) shares issued by companies incorporated, headquartered, listed, or which conduct a majority of their business activity, in the UK or funds investing in such companies; and/or (ii) transferable securities which are denominated in sterling or hedged back to sterling.

The Fund may enter into derivative transactions for: (i) efficient portfolio management (including hedging) purposes, i.e. to reduce risk, minimise costs or generate additional capital and/or income; or (ii) investment (i.e. speculative) purposes, such as creating both long and short positions through derivatives. The Investment Manager expects that derivative transactions will be used primarily for efficient management purposes. 

The Investment Manager seeks to exercise appropriately its stewardship responsibilities on behalf of its clients in order to meet the Fund’s investment objective. Stewardship entails engagement with the investment managers of the collective investment schemes in which the Fund invests to understand how they analyse and engage with respective investee companies on material factors relating to the governance and long-term sustainability of their business models.

The Investment Manager is not in any way constrained by the benchmark in their portfolio positioning.
Current fund name New fund name
SL Jupiter Multi-Asset Income Life Fund
(fund code – LK)		 SL Jupiter Merlin Monthly Income Select Life Fund
(fund code – LK)

Current investment policy

New investment policy

Summary: At least 60% of the Fund is invested in fixed interest securities (including collective investment schemes which themselves invest mainly (i.e. at least 50%) in fixed income securities), cash, near cash, money instruments and deposits. The reminder of the Fund will be invested in other assets, including shares of companies and collective investment schemes. The Fund may use derivatives for investment purposes. At least 50% of the Fund will be i) issued by companies based in the UK or ii) sterling-denominated or hedged back to sterling. Investment in collective schemes can include funds managed by Jupiter or an associate of Jupiter.
 
To attain the objective by investing at least 60% of the Fund in corporate bonds, convertible bonds and other fixed interest-bearing securities (including collective investment schemes which themselves invest mainly (i.e. at least 50%) in fixed income securities), cash, near cash, money market instruments and deposits. A maximum of 25% of the Fund can be held in high yield bonds.

The reminder of the Fund will be invested in other transferable securities (including shares of companies), exchange traded funds (ETFs) and collective investment schemes (including funds managed or operated by Jupiter or an associate of Jupiter).

At least 50% of the Fund’s investments will be either:
(i) issued by companies incorporated, headquartered, listed or which conduct a majority of their business activity in the UK; or (ii) denominated in sterling or hedged back to sterling. 

The Fund may enter into derivative transactions for:
(i) efficient portfolio management (including hedging) purposes, i.e. to reduce risk, minimise costs or generate additional capital and/or income; or (ii) investment (i.e. speculative) purposes, such as creating both long and short positions through derivatives. The Investment Manager expects that derivative transactions will be used primarily for efficient management purposes. 

The Investment Manager seeks to exercise appropriately its stewardship responsibilities on behalf of its clients in order to meet the Fund’s investment objective. Stewardship entails the analysis of, and engagement with, investee companies on material factors relating of their governance and the long-term sustainability of their business models.

The Investment Manager is not in any way constrained by the benchmark in their portfolio positioning.

Summary: At least 70% of the Fund is invested in collective investment schemes, with typically between 40% and 70% and at least 25% in funds managed by Jupiter or an associate of Jupiter. Up to 30% of the Fund may be invested in other transferable securities, cash and near cash. The Fund will have exposure (direct and/or indirect) of: (i) at least 60% to fixed interest securities; and (ii) up to 35% to shares of companies. At least 50% of the Fund will (in aggregate) be invested directly or indirectly in i) shares issued by companies based in the UK and/or funds investing in such companies; and/or ii) transferable securities which are sterling-denominated or hedged back to sterling. The Fund may use derivative transactions for investment purposes. 

To attain the objective by investing at least 70% of the Fund globally in collective investment schemes and exchange traded funds (ETFs) which give exposure to shares of companies, fixed-interest debt securities, money market instruments, deposits and cash. The Fund forms part of the Merlin Select range, meaning that typically between 40% to 70% and at least 25% will be invested in funds managed and operated by Jupiter or an associate of Jupiter. 

The Fund may also invest in other transferable securities such as exchange traded commodities, as well as cash and near cash, money market instruments and deposits. 

The Fund will have exposure (directly and/or indirectly) of: (i) at least 60% to fixed interest securities, which may include investment grade bonds, high yield bonds (to a maximum of 25%), government bonds, preference bonds and convertible bonds; and (ii) up to 35% to shares of companies. 

At least 50% of the Fund will (in aggregate) be invested directly or indirectly in: (i) shares issued by companies incorporated, headquartered, listed, or which conduct a majority of their business activity, in the UK or funds investing in such companies; and/or (ii) transferable securities which are denominated in sterling or hedged back to sterling.

The Fund may enter into derivative transactions for: (i) efficient portfolio management (including hedging) purposes, i.e. to reduce risk, minimise costs or generate additional capital and/or income; or (ii) investment (i.e. speculative) purposes, such as creating both long and short positions through derivatives. The Investment Manager expects that derivative transactions will be used primarily for efficient management purposes. 

The Investment Manager seeks to exercise appropriately its stewardship responsibilities on behalf of its clients in order to meet the Fund’s investment objective. Stewardship entails engagement with the investment managers of the collective investment schemes in which the Fund invests to understand how they analyse and engage with respective investee companies on material factors relating to the governance and long-term sustainability of their business models.

The Investment Manager is not in any way constrained by the benchmark in their portfolio positioning.

 

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