Jupiter to launch low-cost wealth manager share classes this month

Jupiter is proposing to launch its planned I share classes - targeted at wealth managers - across its unit trust range later this month.

Subject to FSA approval, Jupiter is proposing a launch date on or around 19 September for the new units, which will offer halved annual management charges across most of the range. Most of the new share classes will have an AMC of 0.75%, compared with existing charges of 1.5%. Jupiter chairman Edward Bonham Carter said in the company's interim results last month that Jupiter planned "to launch I classes across our unit trust range later this year to assist our penetration of wealth management channels." The new share class will have a minimum initial subscription level of £5m, and ...