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Jupiter served notice by three trust boards

Jupiter is facing further difficulties this week as the boards of three of

its investment trusts served notice on the company.

The Split trust, dividend & growth trust and investment trust of

investment trusts have all secured the right to change fund manager in two


The boards have cited Jupiter&#39s recent change of management and company

structure as the main reasons for serving notice.

Former chief executive John Duffield sits on the board of all three trusts

as well as several others.

Jupiter is preparing itself for notice on its other investment trusts,

which are worth up to £1.4bn and make up around10 per cent of the

company&#39s business. Changes to an investment trust&#39s management do not

require shareholder approval and can usually be made based on the board&#39s


However, Jupiter&#39s investment trusts require a two-year notice period and

early termination can mean heavy penalties.

Jupiter sales and marketing director Steve Glynn says: “We are eager to

meet them as soon as possible to allay any concerns they may have.”

Investment, p28


Parliamentary troups urge B&B members to vote for mutuality

Two influential Parliamentary groups are lending their support tocampaigners aiming to keep Bradford & Bingley a mutual.The all-party Building Societies Group and Insurance & Financial ServicesGroup say members interests will be damaged if the society converts to apublicly owned company.The two groups represent more than 170 MPs from all political parties.The groups issued a statement […]

New round of German bank merger talks

Two of Germany&#39s largest banks have confirmed they are in merger discussions. Dresdner Bank and Commerzbank, the nation&#39s third and fifth largest banks respectively, are reviving merger talks in what is commonly seen as Germany&#39s overcrowded finance sector. The move follows the collapse in talks earlier this year between Dresdner and competitor Deutsche Bank. If […]

Standards bearer

The rationale behind the new Care Standards Bill is to improve thestandard of care services nationally in both public and private sectors andto ensure that vulnerable adults get good care.A national care standards commission will be established which willregister and regulate businesses providing care in institutional ordomiciliary settings.The commission will report to the Secretary of […]

Investment View

If there is one question anyone who contributes articles regularly can becertain to be asked time and again, it is “How do you think of somethingdifferent to write each week?” The more observant may have cottoned on tothe fact I am no stranger to the world of repetition. The truth is the samethemes come around […]

International jurisdictions

By Neil Jones, Canada Life Investing through international providers has grown in popularity over recent years as investors seek out the benefits of gross roll-up and the wider range of investment options that can be available. When considering a recommendation for a lump sum investment, not only does the adviser have to select a suitable tax wrapper […]


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