Jupiter plans merger of former Dan Nickols UK small-cap fund by end of year

‘Materially similar’ funds

Jupiter Asset Management has pushed ahead with its fund consolidation review and proposed a merger of two of its UK small-cap focused mandates.

Beginning back in 2022, Jupiter began a firmwide fund overhaul, mainly targeting "subscale" portfolios with less than £100m of assets under management across its entire asset class mix. In a letter to shareholders of the Jupiter UK Smaller Companies Equity fund, the firm said it was proposing a merger of it into the Jupiter UK Smaller Companies mandate due to the "materially similar" mandates, with 92% crossover in the funds' underlying assets. Jupiter poaches European equity team from GAM Investments The UK Smaller Companies Equity fund was founded in 1999 and currently has £91.9m...