Jupiter Fund Management's fund overhaul will mainly target “subscale” funds with less than £100m of assets under management across the firm’s entire asset class mix, with 4% of total AUM impacted.
Speaking at the firm's Q3 trading update presentation this morning (20 October), new CEO Matthew Beesley said that the so-called "fund rationalising programme" will see around 25% of Jupiter's funds merged, closed or repositioned. This will be focused on the subscale end of the product range, Beesley told shareholders, adding that around 80% of the funds affected have less than £100m in AUM. "It was clear to me on joining this firm that we had too many subscale, non-differentiated funds that were diluting our active proposition. 46% of our mutual funds have less than £100m of assets....
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
