The present invention relates to liquid and powdered compositions as well as emulsions comprising whey protein and lipid, particularly fish oil, suitable for enrichment of a variety of food articles and beverages with poly unsaturated fatty acids like omega-3 fatty acids. The composition may also be consumed as such. Furthermore, the present invention relates to a process of preparing such compositions and emulsions. The main feature of the process of the present invention, is that the microencapsulation of the lipid is made simultaneously with the microparticulation of the protein. A composition having superior properties in terms of taste and stability, is provided by the present invention.