Jupiter plots double income fund launch

Jupiter is seeking to expand its stable of income-generating products in the second half of this year via the launch of an Enhanced Distribution portfolio and a fund for new hire Jason Pidcock.

The former fund will be first off the block, subject to FCA approval, and will be based on the Distribution strategy run by Alastair Gunn and Rhys Petheram. It will target a higher running yield, as well as having more flexibility to allocate between equities and fixed income. "The fund will have more freedom to roam but with the objective to generate yield. I do not expect it to be derivative heavy, but the asset allocation will be more free," Jupiter CEO Maarten Slendebroek said. Jupiter Distribution yielded 2.6% as of 31 May. The fund has returned 23% over the three years to 28 ...