Thomas takes reins of Jupiter Green trust

The board of the £42m Jupiter Green investment trust has made changes to the vehicle’s investment policy following a strategic review.

It will now be solely managed by Jupiter's Charlie Thomas. Previously the US and Canadian parts of the portfolio were run by Boston-based Winslow Management.

As a result of this decision, the trust's benchmark will change to the MSCI World Small Cap index from a composite of the FTSE Global Small Cap ex US index and Russell 2500 Growth index.

The board hopes the changes will give Thomas more flexibility over asset allocation and allow for greater exposure to Asia. It also expects him to make greater use of derivatives.

Chairman Perry Crosthwaite says: "The board believes that the centralisation of the portfolio management will enable the company to hold a more concentrated portfolio of securities and that it will give the portfolio manager greater flexibility in asset allocation as between North America and the rest of the world.

"This may, in turn, result in increased allocations to nascent markets for green investment, such as China and India."

In addition, the board plans to start paying a regular dividend. Although it has not yet set a target, it expects 90% of distributable revenue to be paid out to investors.