Jupiter CEO targets 'subscale' funds in company overhaul

4% of total AUM impacted

Jupiter Fund Management's fund overhaul will mainly target “subscale” funds with less than £100m of assets under management across the firm’s entire asset class mix, with 4% of total AUM impacted.

Speaking at the firm's Q3 trading update presentation this morning (20 October), new CEO Matthew Beesley said that the so-called "fund rationalising programme" will see around 25% of Jupiter's funds merged, closed or repositioned.  This will be focused on the subscale end of the product range, Beesley told shareholders, adding that around 80% of the funds affected have less than £100m in AUM. "It was clear to me on joining this firm that we had too many subscale, non-differentiated funds that were diluting our active proposition. 46% of our mutual funds have less than £100m of assets....