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Jupiter aims lower-risk plans at WP investors

Jupiter is planning to target traditional with-profits investors with a new range of lowerrisk products run on a performance fee structure.

The firm says the new collective investment scheme sourcebook rules, which star-ted on April 1, do not allow performance-related fees to be introduced on its existing funds because they prohibit adding a new share class that does not carry a single charge.

The new fund range – currently at a very early stage and due for launch in either the final quarter of this year or the first quarter of next year – would probably offer fixedinterest, cash-plus and property funds with some element of equity exposure in a risk profile which Jupiter describes as “active safety”.

Joint managing director Gordon Davidson says: “We are asking, do we want to compete for market share as an asset manager or do we want to target the bigger prize of former with-profits investors, pension funds and cash deposits? We are looking at providing relative security with some asset management using performance fees.”


FSA&#39s half-baked PI recipe for endowments

I recently renewed my professional indemnity insurance and submitted the policy schedule to the FSA. The FSA noticed that my excess increased to £10,000 for endowment claims and notified me that I now need an extra £7,000 in my bank just in case I get a complaint. The alternative to this was to declare that […]

IA loss soars as it waits for FSA merger ruling

Inter-Alliance&#39s losses soared to £33.5m last year despite increasing revenues and slashing costs. The loss for Inter-Alliance, which is in merger talks with Millfield Group, is almost double its £17.7m loss in 2002. IA increased its gross revenue by 22.5 per cent from £51.9m to £63.6m. The group slashed costs after nearly halving staff numbers […]

New rules bring risk-based regime closer

The FSA&#39s new risk-based capital regime for insurance companies has moved closer with the publication of rules determining how much capital they must hold. Under the rules, firms writing with-profits business must hold capital equivalent to the greater of their statutory requirements based on EU directives and a new realistic calculation of their expected liabilities. […]

IFAs say deal measures up as a good fit

IFAs believe the merger between F&C and Isis is a good move for both companies, offering them a strong strategic fit which should allow them to integrate complementary product ranges seamlessly. Isis has 33 open-ended funds aimed at retail investors, including its higher income and with-prospects Oeics, while F&C has only three funds, with the […]


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