Jupiter Asset Management has confirmed it is to launch an onshore absolute return multi-asset fund for total return manager Miles Geldard.
The move, revealed by Money Marketing in February, will see the asset manager launch the Jupiter strategic reserve fund towards the end of April, subject to approval from the FSA.
A Jupiter spokeswoman says: “We’re launching it mainly because we think there is an opportunity in the institutional market for this kind of product and a manager with Geldard’s skills.”
Although the fund is aimed at the institutional market, the product will also have a retail share class.
Geldard joined Jupiter in June 2010 and runs the £105.6m Jupiter strategic total return and £326.6m Jupiter global convertibles funds with longstanding co-manager Lee Manzi.