Chatfeild-Roberts buys Terry Smith fund for Merlin portfolio

Jupiter's Merlin multi-manager team, headed by CIO John Chatfeild-Roberts, have initiated a holding in Terry Smith's Fundsmith Equity fund as they increase their exposure to 'global titan' corporates.

Chatfeild-Roberts (pictured) and fellow multi-managers Peter Lawery and Algy Smith-Maxwell opened the position in their £770m Worldwide portfolio last month. The team have also initiated a holding in the Morgan Stanley Global Brands fund within their £1.7bn Growth portfolio, and see both vehicles as a way to capitalise on the enduring strength of global large-caps. "Based on our macro long term view we initiated positions in the Fundsmith Equity fund and the Morgan Stanley Global Brands fund because we wanted to increase our exposure to the global titans of the corporate world," said ...