Jupiter shuts UK Smaller Companies Focus fund after AUM slumps below £38m

Name change for UK Dynamic Equity fund

Jupiter Asset Management has elected to shut down its UK Smaller Companies Focus fund due to insufficient levels of client interest.

In a letter to shareholders dated 30 August, Jupiter said the fund's total AUM had fallen to around £37.4m, which was "below the level at which the fund could be managed cost effectively and remain economically viable, and the fund is unlikely to attract new material investors in the future". As a result, the board said that closing the fund would be in the best interests of shareholders. The portfolio is set to close on 30 September, at which time all compulsory shares will be redeemed for clients, or, they can transfer their investment to another Jupiter portfolio free of charge up ...