Jupiter Merlin Absolute Return Portfolio, which was launched in January 1996, rose 2.43% in April, taking the year to date returns to 4.84%.
The fund, which has 11% in cash, has a 46.2% allocation to European equities, an 11.5% allocation to global equities, 7.5% to Asian equities and 23.8% to US equities.
The long/short equity funds of funds is run by John Chatfeild-Roberts, Peter Lawery and Algy Smith-Maxwell. The majority of the fund's managers generated good returns, but the most notable came from Lansdowne Global Financials and Brant Point Fund International.
The fund, which has $66.4 million in