Further details of Buxton's Jupiter UK Growth IT wind-up revealed

First general meeting on 15 March

Lauren Mason
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Jupiter's Richard Buxton
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Jupiter's Richard Buxton

The board of Richard Buxton's £33.9m Jupiter UK Growth investment trust (JUKG) has laid out its recommended proposals for the reconstruction and voluntary winding-up of the company, following December's announcement that it would team up with Brown Advisory Funds (BAF) to offer investors a "rollover option" to receive replacement shares in the firm's Global Leaders fund (BAGL).

JUKG's board first announced its intentions to liquidate the trust in October last year, following poor performance for a "number of years" and a subsequent lack of demand from investors. Former manager of the trust Steve Davies was replaced by Richard Buxton in February last year, a day after it was announced that Jupiter Fund Management would acquire Merian Global Investors. However, assets under management continued to dwindle and a voluntary wind-up through solvent liquidation proved to be "the best option", according to the board. Jupiter AoV highlights 42,000 direct investors...

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