Jupiter’s investment chief John Chatfeild-Roberts has made his first foray into bricks and mortar in a decade, in a bespoke deal with one of the UK’s most exclusive property houses.
Mayfair Capital Investment Management has launched a tax-efficient Jersey property unit trust structure for Jupiter’s £4.7bn Merlin Income and £1.6bn Jupiter Merlin Balanced funds of funds.
Called the Mayfair Capital Commercial Property fund, it is already exchanging on its first property deal and is expected to be fully invested within 6-12 months. It will adopt a balanced portfolio of UK commercial properties with a target yield of 5-7 per cent.
Headed by Mayfair’s investment director, Ned Pumphrey, it will buy properties based on recommendations from the boutique’s team of nine experienced property surveyors.
In a client update last week, Mr Chatfeild-Roberts said: “In the current environment, selected property exposure is a potential alternative for investors seeking diversification away from equities and bonds.”
The deal comes after a painstaking investigation of the UK property fund market by the Jupiter Merlin team as an ‘income plus’ opportunity.
Based in Brookfield House – the same building as Troy Asset Management – Mayfair Capital is respected in City circles for returns on its flagship Property Income Trust for Charities.
