Gibbs' Absolute Return raises £244m in top 2009 launch

Philip Gibbs' new Jupiter Absolute Return vehicle has become the most successful launch of 2009, taking in more than £244m in its fund raising period.

Gibbs also raised in excess of £98m for his Jupiter International Financials fund, taking the total raised in the pre-launch period to £342m. While the total includes £153m of switches from his existing Financial Opportunities fund, the overwhelming majority of flows into Absolute Return are new investments. "I am extremely honoured by the level of support investors have given the two new funds, not to mention the continued support they have shown for Jupiter Financial Opportunities," Gibbs says. "While markets have already rallied sharply this year, it is my view that equities, an...