Jupiter closes its Global Convertibles fund following years of diminishing assets

Two Jupiter portfolio managers to depart

Jupiter Asset Management has liquidated its Global Convertibles fund, resulting in the departure of two of its portfolio managers.

According to a letter sent to shareholders at the end of last week, the strategy's net assets had fallen to approximately €86m. Investors pull £1.1bn from Jupiter's value equity strategies in first quarter As a result of the diminishing assets, "the board of directors…has resolved to liquidate the fund", the letter stated. Lee Manzi and Makeem Asif will depart from Jupiter once the fund has finished its closing checks. A Jupiter spokesperson confirmed their exit from the asset manager, "once they have worked with us to close the fund and return money to investors." However, t...