Head To Head

HEAD-TO-HEAD: Jupiter versus Neuberger Berman

FSA compares two US equity products: The Jupiter Merian North American Equity Fund and the Neuberger Berman US Multi Cap Opportunities Fund.

by Francis Nikolai Acosta 5 March 20215 March 2021

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Isaac Poole, Oreana Financial Services

INTRODUCTION

After seeing strong performance in 2020, the US equity market has become volatile, amid surging yields in bonds.

Year-to-date, the S&P 500’s performance has dropped to 0.61% from nearly 5% in February, while the tech-heavy Nasdaq’s returns are down to 1.45% after reaching nearly 8% last month, according to data from FE Fundinfo.

Despite the volatility, asset and wealth managers continue to be optimistic about the US equities market.

“We still have a positive outlook for equities in general and in US equities specifically, and that is being driven by the expectation of a solid economic recovery over the medium-term, helped by very accommodative monetary and fiscal policies,” Isaac Poole, chief investment officer at Oreana Financial Services, told FSA.

Overall, the firm is overweight in global equities, and within that, is overweight in the US, he said.

“It is an area where we believe will provide strong returns over the next five years,” he said.

Against this backdrop, FSA asked Poole to compare two US equity products: The Jupiter Merian North American Equity Fund and the Neuberger Berman US Multi Cap Opportunities Fund.

Note: Jupiter recently rebranded Merian funds after the firm completed its acquisition of Merian Global Investors last year.

	Jupiter Merian	Neuberger Berman
Size	$449.9m	$577.1m
Inception	2002	2012
Manager	Amadeo Alentorn, Ian Heslop	Richard Nackenson
Three-year cumulative return	36.41%	35.44%
Three-year annualised return	10.48%	10.19%
Three-year annualised alpha	-0.08%	-4.46%
Three-year annualised volatility	19.02	24.1
Morningstar analyst rating	Bronze	Bronze
Morningstar star rating	****	***
FE Crown fund rating	*	**
OCF	1.61%	2.01%

Source: FE Fundinfo, Morningstar Direct.

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