Jupiter UK Growth trust to be liquidated as deal struck with Brown Advisory

Shareholders offered cash redemption or fund transfer

Jupiter UK Growth is to be wound up after the investment trust's board confirmed it had struck a deal with Brown Advisory to offer shareholders the chance to transfer their investment into the firm's Global Leaders fund.

The board confirmed in October that it had opted to liquidate the trust as a result of a substantial decline in its total market capitalisation, following a period of sustained poor performance. Richard Buxton was handed management duties of the trust in June, with the announcement coming in February following a period of poor performance under Steve Davies, who has now left Jupiter to pursue other opportunities. The trust is currently trading on a 6.8% discount to its net asset value of £223m, according to Association of Investment Companies data, with its share price having fallen b...