Jupiter launches European Absolute Return fund

Jupiter is to launch a European Absolute Return fund for Cédric de Fonclare and Stephen Pearson.

The Ucits III vehicle marks the first time the long/short investment capabilities of Pearson, the Jupiter Europa hedge fund manager, will be available to investors in a regulated environment. It will also utilise the long-only expertise of de Fonclare, the Jupiter European Special Situations fund manager. The managers will build a portfolio of 50-80 long and short positions in individual European companies. Benchmarked against three-month Euribor, the fund will typically have a net exposure between -30% and 60%; while gross exposure is limited to 200%. "The high levels of market...