Jupiter traders have their income entrusted to Neil Woodford

Holders of Jupiter’s well-known Merlin funds have had some of their funds allotted to Neil Woodford’s new venture

  Photograph: Justin Sutcliffe

Investors with money in the well-liked Jupiter Merlin money have had some of their assets entrusted to Neil Woodford ‘s new fund, Woodford Equity Income, which has now grown to far more than £2bn.

The Jupiter Merlin range consists of “multi-manager” money – in other words, the manager chooses other funds in which to put his investors’ income, rather than selecting personal shares.

The Merlin money are managed by the respected investor John Chatfeild-Roberts and his group. Three of the funds, Jupiter Merlin Income, Growth and Balanced, now have holdings in Woodford Equity Revenue, despite the fact that the dimension of the holdings is not disclosed.

But Mr Chatfeild-Roberts has retained holdings in the Invesco Perpetual money formerly managed by Mr Woodford and now run by Mark Barnett .

Mr Chatfeild-Roberts mentioned: “We had been extremely content traders for a lot of years in Neil Woodford’s money while he worked at Invesco Perpetual and have supported him in his new venture. Woodford Equity Cash flow has been obtained for the Jupiter Merlin Growth, Jupiter Merlin Balanced and Jupiter Merlin Income portfolios.

“We also have manufactured significant investments with his ex-colleague Mark Barnett. We think that the two Neil and Mark are quite talented prolonged-phrase investors and are thrilled about the potential returns they could create for our portfolios and, as a consequence, our investors.”

The Jupiter Merlin Income fund at the moment holds £4.7bn of investors’ income. It splits its cash between equity, bond and other money and cash. In accordance to the fund’s factsheet for June, published right now, 45pc of its cash is in Uk equity money, 31.9pc in bond money, 19.1pc in other individuals, which include a gold fund and a international equity revenue fund, and 4pc in funds.

Mr Woodford commenced investing the money in his new fund on June 19 and Mr Chatfeild-Roberts invested ahead of the finish of June. The Woodford fund is nevertheless attracting income steadily from investors and has now grown to £2.2bn.

It has attracted funds from other “multi-manager” money, including £400m from the Hargreaves Lansdown multi-manager assortment.

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