Merill Investors

What Merill Investors does

Merill SICAV p.l.c. (DBA Merill Funds) is a Malta-domiciled, MFSA-licensed open-ended collective investment scheme structured as a multi-fund public limited liability company with variable share capital, qualifying as a Maltese UCITS under the UCITS Directive effective 16 October 2015. The company operates four sub-funds: the Merill Total Return Income Fund (launched February 2016, seeded with EUR 15 million), the Merill Global Equity Income Fund and Merill High Income Fund (both launched April 2017), and the Merill Strategic Balanced Fund USD (launched October 2019, seeded with $10 million). The vehicle offers Accumulator and Distributor share classes across EUR, USD, and GBP Hedged tranches, targeting both Maltese retail investors (minimums of EUR 50/month or EUR 2,500 lump sum) and institutional clients including family offices and foreign institutions.

Investment management is delegated to Jesmond Mizzi Financial Advisors Limited (JMFA), a 22-person Malta-based wealth manager that is part of the Atlas Group and operates four physical offices across Hamrun, Valletta, Birkirkara, and Ta' Xbiex. JMFA applies an active management approach centered on ESG integration through a dedicated internal ESG Committee, systematic risk management, and dynamic asset allocation. The Merill Total Return Income Fund earned a four-star Morningstar rating with first-quartile rankings in 2017, 2018, and YTD 2019.

Revenue is generated primarily through recurring management fees — the disclosed ongoing charges figure is 2.00% annually on the Strategic Balanced Fund — supplemented by a 3.5% front-end initial charge (often discounted during launch windows). Distribution combines JMFA's advisory-led channel in Malta with a self-service online investment portal launched in June 2020. Total AUM grew from approximately EUR 71 million in January 2019 to EUR 118 million by January 2020 and over EUR 124 million by May 2020, with combined AUM across all four sub-funds reaching roughly EUR 140-155 million equivalent by late 2021 to September 2022.

Name

Merill Investors

Legal name

Merill SICAV p.l.c.

Website

https://merillfunds.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1–10 employees

Short description

Merill SICAV p.l.c. is a Malta-domiciled MFSA-licensed UCITS fund vehicle operating four sub-funds (income, equity income, high income, and strategic balanced), managed by Jesmond Mizzi Financial Advisors and distributed to Maltese retail investors and institutional clients via physical offices and an online portal.

Ownership category

akta.pro rank

Product category

UCITS Fund Management

NAICS

Open-End Investment Funds (525910), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Fund of Funds & Multi-Manager Mutual Funds (FSAAAEAL)

akta.pro secondary industry

Multi-Asset Solutions for Institutional (Pensions/Endowments/Sovereigns) (FSAAAJAJ)

Keywords

• UCITS fund management
• Collective investment schemes
• Asset management
• Wealth management
• Investment fund services

Headquarters

HQ city

Hamrun

HQ country

Malta

HQ region

Europe

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Fund Management Fees: Merill SICAV generates revenue through management fees charged on assets under management across its four sub-funds. The ongoing charges for the Merill Strategic Balanced Fund is 2.00% annually.
2. Initial Charges: Front-end load charges apply on investments, with initial charge of 3.5% (discounted during launch periods) for Merill Strategic Balanced Fund.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Merill Investors operates as a multi-fund collective investment scheme (SICAV) licensed in Malta, offering four sub-funds diversified across equities, fixed income, and balanced strategies. The company distributes its funds through an online investment portal and via its appointed investment manager's advisory network across Malta, targeting individual and institutional investors.

Product overview

Merill SICAV p.l.c. is a Malta-based investment fund company offering four distinct sub-funds as a Maltese UCITS: Merill Total Return Income Fund (launched 2016), Merill Global Equity Income Fund (2017), Merill High Income Fund (2017), and Merill Strategic Balanced Fund USD (2019). These funds offer accumulator and distributor share classes in multiple currencies (EUR, USD, GBP hedged). The company also provides an online investment portal for direct investor access. Investment management is handled by Jesmond Mizzi Financial Advisors Limited.

Differentiator

Problem solved

Functional benefit

Products and services

• Merill Target Return Investment Fund (MTRIF) A sub-fund of Merill Investors targeting absolute returns through diversified investment strategies, available to individual and institutional investors.
• Merill Global Equity Income Fund (MGEIF) A sub-fund focused on global equity investments with an income orientation, available to individual and institutional investors.
• Merill High Income Fund (MHIF) A sub-fund targeting high-income returns through fixed income and credit investments, available to individual and institutional investors.
• Merill Sustainable Balanced Fund (MSBF) A sub-fund providing balanced exposure across asset classes with a sustainability focus, available to individual and institutional investors.

Quantifiable outcome

• Assets under management grew from €71.2m (Jan 2019) to €118m (Jan 2020)
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature1 record

Partnerships

Four partnerships are on record, tiered core and supporting.

• Jesmond Mizzi Financial Advisors Ltd (JMFA)coreStrategic or Co-development Partner · 1 February 2016JMFA serves as the investment manager of Merill SICAV p.l.c., managing all four sub-funds with assets exceeding €100 million. JMFA has over USD 330 million in combined assets under management and employs 22 members. The company follows a 'Know Your Client' approach to deliver personalized wealth management services.
• PricewaterhouseCoopers (PwC)supportingOthersPwC serves as the independent auditor for Merill SICAV p.l.c., appointed at the Annual General Meeting and authorized to fix their remuneration by the Board of Directors.
• BOV Fund Services LimitedsupportingOthersBOV Fund Services Limited serves as Company Secretary for Merill SICAV p.l.c., handling proxy form collection and AGM administration from their office at TG Complex, Suite 2, Level 3, Brewery Street, Mriehel, Malta.
• Malta Financial Services Authority (MFSA)coreOthersMFSA is the regulatory body that licensed Merill SICAV p.l.c. as a collective investment scheme and qualifies the company as a Maltese UCITS under the UCITS Directive with effect from 16 October 2015.

Scale indicators13 records

Recent moves11 records

Expansion highlights5 records

Direct peers

• Brooks Macdonald Asset Management: UK wealth and asset manager with multi-asset fund ranges distributed through advisors and direct platforms. Comparable to Merill on multi-asset strategy mix, advisor-led distribution, and small-mid AUM scale.
• Premier Miton Investors: UK-based boutique asset manager running a multi-fund UCITS range with several sub-funds across income, growth, and multi-asset strategies. Closely comparable to Merill in structure (multi-fund SICAV/UCITS), strategy mix (income, equity, balanced), and small-mid AUM scale.
• Calamatta Cuschieri: Malta-based wealth management and investment services firm with multi-asset fund and advisory offerings. Directly comparable to Merill as a domestic Maltese investment services competitor serving retail and institutional clients in the same jurisdiction.
• Tatton Asset Management: UK-listed boutique asset manager offering model portfolios and a multi-fund range to IFAs and direct investors. Comparable to Merill in target channels (advisor-led distribution), fund range breadth, and small-to-mid AUM scale.
• Thesis Unit Trust Management: UK-based multi-fund manager operating a broad range of UCITS-equivalent unit trusts and OEICs distributed primarily through advisors. Highly comparable to Merill on sub-fund proliferation, advisor-led distribution, and active multi-asset strategies.
• Hawksmoor Fund Managers: UK boutique running multi-fund UCITS vehicles focused on multi-asset and equity income strategies. Comparable to Merill in sub-fund structure, active management approach, and small-AUM boutique scale.

Broad incumbents

• Legal & General Investment Management: Major UK asset manager with broad UCITS multi-asset and income fund offerings. Comparable to Merill on UCITS structure and multi-asset/income strategy focus, but operates at vastly greater scale with global distribution.
• abrdn: Global asset manager offering extensive UCITS multi-asset, income, and equity fund ranges distributed across Europe. Comparable to Merill on UCITS strategy mix and advisor distribution, but at much larger scale.
• Schroders: Global asset manager with extensive UCITS multi-fund range covering fixed income, equity, and multi-asset strategies. Comparable to Merill on product breadth and UCITS vehicle structure, with significantly larger AUM and global distribution.
• Amundi: Europe's largest asset manager operating a broad UCITS fund platform across income, equity, and multi-asset strategies. Comparable to Merill on UCITS fund structure and strategy mix, but at vastly greater scale and distribution reach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCGf6HOuzaj6fJQMUHcpix4w
• LinkedInlinkedin.com/company/merill-investors

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Merill Investors