Jupiter's Cable keeps cash on sidelines to support companies in need

'Relatively elevated levels of cash'

The Jupiter UK Smaller Companies fund continues to run with “relatively elevated levels of cash” as manager Matt Cable prepares to support portfolio constituents that need to raise additional capital.

Cable said holdings in the £221m fund, which he inherited from James Zimmerman on 1 August 2019, had not been immune to the coronavirus-related lockdown of the UK economy, with 18% of its investee companies having shutdown operations completely and a further 25% in partial shutdown. In addition, with focus from firms on protecting the health and safety of all stakeholders and ensuring they are well enough funded to survive the crisis, almost half (45%) of the fund's holdings that were expected to pay a dividend have decided not to. A further 28% have yet to decide on their dividend polic...