Jupiter readies global fund

Jupiter is lining up a standalone global equity income vehicle after it was forced to shelve plans to convert its European Income fund into a global offering.

The group scrapped plans to convert its European Income fund at the start of this year after failing to receive the necessary level of shareholder approval, but is now preparing a separate fund. The Global Equity Income fund, a unit trust, is likely to be managed by Sebastian Radcliffe and Gregory Herbert, the two managers who had been slated to take over European Income following its conversion to a global mandate. Herbert became manager of the £35m European offering earlier this month, taking over from Cédric de Fonclare, while Radcliffe manages the £464m Jupiter North American Inco...