Jupiter to convert European Income into global income fund

Jupiter is seeking unitholder approval to convert its European Income fund into a global income vehicle, with Sebastian Radcliffe and Gregory Herbert taking over as co-managers.

The group said the broader equity income mandate would better serve investors seeking income from internationally-diversified companies, and is seeking to change the fund name to Jupiter Global Equity Income. If approved, the changes would see current manager Cédric de Fonclare step down and focus on his other European equity mandates. Radcliffe has "worked closely" with de Fonclare to help him implement his European investment strategy since 2007, Jupiter said, while Herbert is manager of the European portion of the Jupiter Global Managed fund. Unitholders will vote on the changes...