Jupiter UK Multi Cap Income

Introduction to the fund

The fund follows a decades-old process which has remained unchanged. The managers recognise the importance of reinvesting dividends to power strong returns. They are drawn to out-of-favour parts of the market where they see the greatest scope for significant share price appreciation. The managers will meet with companies to understand how they create their cashflow and how they use it. They carry out site visits to really get to know each of their stocks. The fund pays two dividends a year and this income is growing.

 

Fund manager

Adrian Gosden, Chris Morrison

Adrian Gosden joined Jupiter in January 2024 and is part of the UK equity team. He was previously a fund manager at GAM, since 2017, and at Artemis for 13 years. He started his career as a strategic consultant at Andersen Consulting before becoming an investmne tanalyst at Fleming Investment Management. He holds a first-class degree in chemistry from Oxford University.

Chris Morrison joined Jupiter in January 2024 and is part of the UK equity income team. In 2011 he joined GAM where he co-managed their global and UK equity funds. Whilst at GAM, he launched a UK equity income fund with Adrian Gosden in 2017. He studied Economics and Mathematics at the University of Bristol.

Opinion on fund

Adrian Gosden is one of the most experienced and highly regarded UK equity income managers. He was well known for his co-management of the Artemis Income fund alongside Adrian Frost which he worked on for many years. He later launched his own fund at GAM which he has now taken with him to Jupiter. This multi-cap strategy has a value style tilt. Gosden has always had a strong valuation discipline in his investment approach and is mindful of overpaying for stocks. This is a solid and disciplined fund in experienced hands. Adrian was joined by co-manager Chris Morrison in July 2024.

Fund performance

Documents

Key facts

  • Fund size

    £446.9m

  • Chelsea rating

    Buy

  • Core Selection

    No

  • Chelsea Risk Rating

    7

  • AMC

    –

  • OCF

    0.95%

  • Unit Type

    Inc

  • Yield

    5.44%

  • FundCalibre rating

    –

How to invest

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  • Call us on 020 7384 7300 to buy over the phone or request an application form
  • Download an application form and post it to us, along with a cheque
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Important information

Source: Performance data sourced from FE Analytics (IA universe). Yield figures (per annum), Fund Size data and AMCs/OCFs are as at 23/01/2026 unless otherwise stated.

The performance graph, factsheets and Key Investor Information Document is provided by FEfundinfo, and updated on a daily basis.

Some funds listed are off shore-domiciled and subject to different regulations. Off shore funds typically do not offer investor compensation under the UK Financial Services Compensation Scheme (FSCS).

Performance history extended by FE fundinfo to illustrate the fund’s longer-term record.

Sector rankings calculated from multiple underlying sectors; certain funds remain unranked due to limited comparability.

Funds assigned to an alternative IA sector; sector rankings may differ accordingly.

The information provided is based on our proprietary qualitative and quantitative research. Whilst reasonable efforts have been taken to ensure accuracy, Chelsea Financial Services cannot guarantee that the information is free from errors, omissions, or inaccuracies.

This information does not constitute investment advice and should not be interpreted as a recommendation to invest in any fund listed. Past performance is not a reliable indicator of future returns.

Please read the full Important Notice on page 2 of the FundReview 2025 carefully before making investment decisions.

Whilst every effort has been made to ensure the accuracy of this information, Chelsea Financial Services takes no responsibility for any errors, omissions or inaccuracies contained therein. The funds within the Chelsea Selection are based on our proprietary research, which is both qualitative and quantitative. Please note this is not investment advice, nor does it imply that you should invest in this fund. Past performance is a not a guide to future returns.

To find out more about our Chelsea Risk Rating, please visit our dedicated page.

The AMC (annual management charge) is paid to the fund management company for managing the fund. It is calculated as a percentage of the value of the fund. The AMC is less than the Ongoing Charges Figure (OCF).

The OCF (ongoing charges figure): The cost includes the AMC and other fees such as registration, regulatory, audit and legal fees but does not include transaction costs and performance fees.