Jupiter Global trust set for mandate change under new manager Davies

Also plans to rename vehicle and reduce fees

The board of the £49.4m Jupiter Global trust has proposed several changes which include altering the investment mandate and appointing Steve Davies, manager of the £1.6bn Jupiter UK Growth fund, to run the vehicle.

If the proposals are approved, Davies (pictured) will replace Richard Curling, who will continue to run the Jupiter Fund of Investment Trusts, the Jupiter Monthly Income fund and institutional assets, as well as the Jupiter UK Alpha fund. The board said the trust will move from its current mixed investment portfolio of UK stocks and global funds to a more focused UK growth strategy, mirroring that of Davies' £1.6bn UK Growth fund but in a geared, closed-ended format. The new generation of investment trust 'dividend heroes' The name of the trust, which was launched in 1972 as the Pr...