Jupiter is offering investors in Philip Gibbs' Financial Opportunities fund free switching into one or both of the manager's new Ucits III funds, which will launch ahead of schedule on 14 December.
Originally expected to be unveiled in the New Year, Jupiter will now unveil its Absolute Return and International Financials fund next month. Investors moving from the £1.4bn Financial Opportunities fund into the new vehicles will not incur usual switching costs or face any capital gains tax liability. Jupiter Absolute Return will utilise the full Ucits III powers to respond to changing market conditions. Benchmarked against 3-month sterling Libor, it will be managed in a similar style to Gibbs' hedge fund, albeit with the aim of less leverage and lower volatility. Unlike Financial Op...
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