Jupiter Fund Review 2026 Which Funds Performed Best

• We reviewed 52 funds carrying the Jupiter name, including Merlin and Merian funds, using performance data to 31 August 2026.

• Among the 48 funds with five year performance records, 31.3% received a 4 or 5 star Yodelar Rating, while 47.9% received a 1 or 2 star rating.

• Jupiter Asian Income ranked first in its sector over five years, while Jupiter Merian Global Equity and North American Equity also recorded strong longer term sector positions.

• Jupiter Merlin Growth, Balanced and Income each ranked among the ten highest returning funds in their respective sectors over five years.

• The accompanying download includes every fund reviewed, with available performance figures, sector rankings, Yodelar Ratings and ongoing charges.

Jupiter offers a broad range of investment approaches, from funds selecting individual companies to specialist gold and silver investments and the Merlin portfolios, which combine funds from different managers. That choice allows investors to use Jupiter funds for different purposes, but it also makes the details behind each holding important.

A fund chosen for income needs a different assessment from one selected for exposure to smaller companies or precious metals. The same applies to Merlin, where investors are relying on the managers to select funds and decide how they work together.

This review examines the performance and investment approaches across the Jupiter range up to 31 August 2026. Whether you already hold Jupiter funds or are considering investing in them, it provides a clear view of how they have performed compared with competing funds in the same Investment Association (IA) sectors.

Jupiter Fund Performance Summary

Among the 48 Jupiter funds with five year performance records, 15 received a 4 or 5 star Yodelar Rating, representing 31.3%. A further 23 received a 1 or 2 star rating, representing 47.9%. Four funds without a complete five year record are included in the download but excluded from this summary.

How Yodelar Rates Fund Performance

Five Highest Returning Jupiter Funds

The table shows the five highest five year growth figures among the Jupiter funds reviewed. These funds invest in different markets, so the order does not account for differences in risk or establish which fund is suitable for an individual investor.

Performance figures up to 31st August 2026. Source: hub.yodelar.com. Past performance is not a guide to future returns.

Jupiter Gold And Silver

Jupiter Gold And Silver recorded five year growth of 208.39%, the highest figure in the Jupiter range reviewed. Its three year growth was 255.69%, while its one year figure was 71.70%. However, its six month result was negative at -14.61%, showing that strong longer term figures did not mean uninterrupted gains.

The strategy combines investments linked to gold and silver bullion with shares in mining companies. It is therefore different from simply holding gold, as mining businesses also face operating costs, production issues and other company risks. Its ranking of seventh out of 204 funds sits within the broad IA Specialist sector, which contains very different strategies and should not be treated as a comparison solely with other precious metals funds.

Jupiter Asian Income

Jupiter Asian Income recorded five year growth of 124.37%, ranking first out of 99 funds in the IA Asia Pacific Excluding Japan sector. Its three year growth of 104.77% ranked seventh, while its one year figure of 51.59% placed 13th out of 106 funds. It received a 5 star Yodelar Rating.

The manager looks for companies with strong finances, growing profits and the ability to support dividends, while also considering whether their shares are reasonably priced. This is different from selecting companies solely because they offer a high current income yield. The sector rankings show a competitive performance record, although they do not separately establish the amount or consistency of income paid.

Jupiter Merian Global Equity

Jupiter Merian Global Equity recorded five year growth of 94.69%, ranking 28th out of 429 funds in the IA Global sector. Its three year figure of 84.12% ranked 26th out of 488, while its one year figure of 24.14% placed 105th out of 548. Its longer term sector positions were therefore stronger than its latest one year ranking.

The fund uses company data, share prices and market information to guide its investment decisions. The team can change the emphasis it places on different characteristics as conditions develop, rather than always favouring the same type of business. For investors, this provides a different approach from a global tracker, whose holdings are determined by the index it follows.

Jupiter Merian North American Equity

Jupiter Merian North American Equity recorded five year growth of 91.85%, ranking 15th out of 212 sector peers. Its three year growth of 79.50% ranked 16th out of 231, while its one year result of 26.00% placed 30th out of 258. It received a 5 star Yodelar Rating.

The fund invests primarily in US and Canadian companies. Its selection process examines factors including company finances, growth, share prices and market trends, rather than simply reproducing a North American index. The performance figures show competitive results across the periods reviewed, but the fund still adds exposure to a region that investors may already hold through global funds.

Jupiter UK Income

Jupiter UK Income recorded five year growth of 89.42%, ranking ninth out of 65 funds in the IA UK Equity Income sector. Its three year growth of 74.22% also ranked ninth, while its one year figure of 22.40% placed 18th. The fund received a 4 star Yodelar Rating.

The strategy looks for businesses that generate cash and have the potential to maintain or increase dividends. Its approach combines an income objective with the opportunity for capital growth. For investors, the sector rankings provide useful evidence about performance, while anyone relying on regular payments should also examine the fund’s distribution record and the risks to their investment.

Five Jupiter Funds With Weaker Ratings

The following funds were selected because their supplied ratings and sector positions warrant closer examination. They are not simply the five lowest returning Jupiter funds, and their records should not all be interpreted in the same way.

Performance figures up to 31st August 2026. Source: hub.yodelar.com. Past performance is not a guide to future returns.

Jupiter UK Smaller Companies

Jupiter UK Smaller Companies fell by 28.19% over five years, ranking 39th out of 43 funds in its sector. Its three year growth of 23.35% ranked 30th, while its one year result of 10.80% placed 25th out of 45. The latest one year position was closer to the middle of the sector, but the longer term rankings remained weaker.

The fund focuses on smaller UK businesses, with the managers looking for opportunities where profits or business prospects can improve. This is a different part of the market from the large companies dominating many UK trackers. That distinction helps explain the exposure being taken, but investors should still examine why the fund lagged competing smaller company funds over the longer periods.

Jupiter UK Mid Cap

Jupiter UK Mid Cap recorded a five year loss of 26.31%, ranking 188th out of 189 funds in the IA UK All Companies sector. Its three year growth of 39.27% ranked 132nd out of 195, while its one year figure of 14.64% placed 127th out of 202.

The fund concentrates on medium sized UK companies, rather than providing the same spread of businesses as a broad UK share fund. Its managers seek companies with the potential to grow profits or improve their prospects. This narrower focus is relevant when comparing it with the wider sector, but it does not remove the need to review the substantial five year loss and weaker sector rankings.

Jupiter Global Leaders

Jupiter Global Leaders recorded five year growth of 9.96%, ranking 378th out of 429 IA Global funds. Its three year growth of 24.30% ranked 428th out of 488, while its one year figure of 10.76% placed 404th out of 548. Although all three figures were positive, the rankings show that it lagged many sector peers across each period.

The fund looks for financially resilient companies and considers how environmental and social factors affect their long term prospects. Investors may recognise its former name, Jupiter Global Sustainable Equities. Jupiter renamed the fund in November 2024 without changing its investment objective or approach. That continuity matters when reviewing the longer performance record.

Jupiter UK Growth

Jupiter UK Growth recorded five year growth of 18.79%, ranking 132nd out of 189 funds in the IA UK All Companies sector. Its more recent positions were weaker: three year growth of 19.35% ranked 182nd out of 195, while one year growth of 2.39% placed 197th out of 202.

The strategy seeks businesses with attractive longer term growth prospects at share prices the manager considers reasonable. Its positive five year figure should therefore be read alongside the much weaker recent sector positions. For existing investors, the important review is whether the approach remains appropriate and how the reasons for retaining the fund stand up against its performance record.

Jupiter European

Jupiter European recorded five year growth of 30.03%, ranking 102nd out of 132 funds in the IA Europe Excluding UK sector. Its three year figure of 42.80% ranked 93rd out of 135. However, its one year growth of 25.93% placed 11th out of 139, showing a substantially stronger recent position.

The fund focuses on selected European businesses with growth opportunities and competitive strengths. Its management team changed during 2025, so the five year result spans different teams and should not be attributed entirely to the current managers. The improved one year ranking deserves recognition, while the longer record remains relevant to investors assessing their experience of the fund.

How Jupiter Merlin Portfolios Compared

The Merlin portfolios need a different assessment from Jupiter’s individual market funds. They invest through other funds, with the managers deciding both which funds to use and how to combine them. Those selections can include Jupiter funds and funds managed by other providers.

The three portfolios below have different investment mixes and objectives. Their own sector rankings are therefore more informative than comparing them directly with the specialist or regional equity funds featured earlier.

Performance figures up to 31st August 2026. Source: hub.yodelar.com. Past performance is not a guide to future returns.

Merlin Growth ranked eighth over five years and 14th over both one and three years. Merlin Balanced ranked seventh over five years, ninth over three years and fourth over one year. Merlin Income also ranked seventh over five years, despite recording a lower growth figure than the other two portfolios.

These results show why lower growth is not automatically weaker performance. Merlin Income operates within a sector permitting a lower proportion of shares than Merlin Balanced, while Merlin Growth follows a different investment mix again. Replacing one with another based only on the growth figures would also change the type and level of risk being taken.

For an investor using Merlin alongside other funds, there is another practical question: what does the rest of the portfolio add? Because Merlin already combines several investments, additional funds should be considered alongside its underlying holdings rather than viewed separately.

Download The Jupiter Fund Performance Report

The featured tables cover only part of the range. The full report includes all 52 Jupiter named funds reviewed, with available performance figures, sector rankings, Yodelar Ratings and ongoing charges.

Find your exact fund and share class, compare its record across several periods and see how it ranked against competing funds in the same sector. The download also identifies funds without a complete five year history.

The report provides research information, not a recommendation to buy, sell or switch.

Download The Jupiter Fund Performance Report

Get A Free Portfolio Analysis

How do your Jupiter funds compare, and what are they contributing alongside your other investments?

Upload a recent portfolio statement, or provide your fund names and approximate values, for a free analysis. We review available 1, 3 and 5 year performance, sector rankings and Yodelar Ratings across your holdings. Where information is available, the analysis can also identify possible duplication and concentration.

The service provides factual information, not personal advice or a recommendation to buy, sell or switch. There is no obligation to make changes or proceed with advice.

Speak To An Adviser

To discuss the findings alongside your retirement plans, income needs or investment objectives, book a no obligation call with an adviser from our advice partner, MKC Wealth.

Any personal recommendation would follow a fuller assessment of your circumstances, objectives, attitude to risk and ability to withstand losses. The risks, costs and ongoing service would be explained before you decide whether to proceed.

Summary

The Jupiter range contains several funds with competitive sector records, including Asian Income, the Merian global and North American strategies, and the Merlin portfolios. It also includes funds with weaker longer term results and others where recent improvement changes how the record should be interpreted.

That is why neither a provider name nor a single performance figure is enough. A lower returning Merlin portfolio can rank strongly within its own sector, while a fund showing positive growth can still have fallen well behind its sector peers.

For investors, the useful next step is to examine the funds actually held. The full report provides the individual fund evidence, while a portfolio analysis helps bring those holdings together before deciding whether a wider advice discussion would be worthwhile.