Jupiter swaps benchmark and reduces annual fee for Responsible Income fund

Investment policy update

Jupiter has made a series of changes to the Responsible Income fund, including a reduction in the fixed annual charge, a benchmark swap and an update to its investment policy.

In a letter to shareholders on 14 August, the firm said the comparator benchmark of the £65.1m fund would be updated from the IA UK All Companies sector to the IA UK Equity Income sector to provide "greater clarity" on the fund's objective and income focus.  "We therefore believe it is more appropriate to compare the fund's performance with other funds in the IA UK Equity Income sector and the fund's classification is also changing to this IA sector," it said.  Jupiter profits rise 56% in H1 amid cost-cutting drive The fixed annual charge of all unit classes in the fund will be red...