Jupiter Fund Management is finalising the deal to sell its stake in Starling Bank for £1.5bn, as the firm’s UK Mid-Cap portfolio reaches the brink of its cap on unlisted holdings.
Jupiter's UK Mid Cap fund, which has a 10% ceiling on the value of its unlisted holdings, is currently finalising the deal to sell its stake in the challenger bank, Sky News reported. Starling is the largest holding in the fund at 7.6%, leaving it vulnerable to breaching the unlisted cap, as the bank's performance in recent months compared to other listed stocks has meant it has inched closer to the limit. The fund is down 36.6% year-to-date, according to Morningstar. Industry reaction: Jury is out on possibility of Jupiter turnaround The fund's other unlisted holding is a smal...
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