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Jupiter steps into pension arena with Sipp

Jupiter is planning to take its first steps into the UK pension market later this year with a self-invested pension plan.

The Sipp, being set up in October, will be Jupiter&#39s first move outside the fund management industry.

It will outsource the plan to an existing pension provider rather than register it itself. Jupiter is believed to be in discussions with Abbey National subsidiary James Hay, one of the UK&#39s biggest Sipp providers.

Jupiter intends to make all its funds available through the Sipp as well as a range of other external funds.

The product will be distributed through Jupiter&#39s website and promoted through intermediary channels. The company will run IFA workshops this autumn to promote the product.

Joint managing director Steve Glynn says the product will be competitively charged and aimed at the middle to top end of the market. He says Jupiter will also be monitoring the development of the Treasury&#39s individual pension account in the coming months.

Glynn says: “Pensions are an area of the marketplace that is expanding rapidly and provides increasing opportunities for a fund manager with our track record.”

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