Gibbs rebuilds Pru stake just months after selling insurer

Jupiter's Philip Gibbs has rebuilt a strong stake in insurer Prudential, just months after offloading the stock over its proposed AIA takeover.

Prudential was a long-term top holding for the financials specialist, but the manager sold his entire stake in the insurer when it announced plans for a $35.5bn acquisition of AIG's Asian life-insurance arm. The deal was eventually aborted due to a shareholder backlash. Gibbs has now built up a 4.37% weighting to Pru in his £186m Jupiter International Financials fund. The manager has also added the stock to the £1.07bn Jupiter Financial Opportunities fund, which he runs with Guy de Blonay. De Blonay had previously called for new leadership at the Pru following the failure to acquire ...