View more on these topics

Jupiter preference fund taken over by Premier

Jupiter is to hand over management of its £2.5m preference fund to Premier Port-folio Managers next month.

Premier will rebrand the fund, which is currently managed by Laurie Petar, the Premier preference fund when it takes the reins on April 27.

Premier will look to merge the portfolio with its £54m absolute growth fund.

Due to the small size of the fund, Jupiter says fixed costs, such as annual audit and regulatory fees, mean it would be more efficient for Premier to take on the portfolio to provide a far more efficient economy of scale to unitholders from a much bigger fund.

The new portfolio will be managed by Paul Branigan, who will be supported by Paul Smith and Howard Crossen from the Premier fixed-income team.

Premier managing director of sales and marketing Simon Weldon says: “The acquisition of the Jupiter preference fund will give investors access to one of the leading investment management teams in this specialist area of the market. In due course and subject to shareholder consent, we expect to merge the fund with our existing offering, which will give investors increased liquidity, more investment choice, greater diversity and reduced costs.”

Jupiter head of communications Alicia Wylie says: “We made this decision to offer investors a better economies of scale, with this fund being the only one in our retail range below £10m.”

Recommended

Positive thinking

The Melchior UK opportunities fund was launched last May and has already risen by 30 per cent , ranking it second out of 327 funds in the UK all companies sector.The fund is run by Glen Pratt who, as many of you will know, was at Fidelity for over 10 years and ran the Fidelity […]

Skandia sails into the sunset

Skandia is dropping its multi-million-pound sponsorship of the Cowes Week sailing extravaganza after a 14-year run.Sponsorship manager Tim Sewell says the firm will not renew the contract when it expires in August 2008.He says Skandia will continue to be a long-term investor in sailing through sponsorship of Skandia Team GBR, currently in training for the […]

Will experts set up network to aid public on IHT

Will planning experts have joined forces to set up a network to provide help to consumers hit by inheritance tax payments.Legal Services Network will operate in seven regions across the UK offering advice on how to eradicate or minimise IHT liability for beneficiaries.Network members are all qualified with the Standard of Institute of Professional Will […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment