Jupiter to merge UK Growth and Undervalued Assets funds

Jupiter is to merge its Jupiter Undervalued Assets fund into the Jupiter UK Growth fund from 3 July.

The funds are both managed by Steve Davies (pictured), who joined Jupiter in 2007, and he will assume responsibility of the newly-enlarged £1.7bn fund.  Davies took over full management of the UK Growth fund from a co-manager role earlier this year following Ian McVeigh's decision to step back from his fund management position. The merger was previously flagged at the time of McVeigh's departure but was dependent on shareholder and regulatory approval. Jupiter said there will be no change to UK Growth's investment style and process. The fund invests in UK equities with up to 20% in...