Jupiter AoV highlights 42,000 direct investors had languished in legacy share classes

New 'J' unit class introduced in May to reduce fees

David Brenchley
clock • 2 min read

Jupiter Unit Trust Managers (JUTM) has closed three funds and reduced fees paid by direct investors by introducing 69 new unit classes with the aim of moving retail investors out of legacy offerings.

While the majority - 64 out of 91 - of classes in its UK unit trust range offered value to investors, the firm said 27 had not delivered value consistently. As a result, Jupiter said it had introduced 69 new unit classes with a reduced annual management charge (AMC), aiming to move 49,000 direct investors out of legacy unit classes. Meanwhile, the ongoing charges figure (OCF) for more than half - 21 out of 40 - of the funds in its range have been reduced, which the company said would benefit around 42,000 investors. Value assessment forces two Baillie Gifford funds closures Jupiter...

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