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.”