Jupiter to merge two funds into Responsible Income strategy

Set to complete on 24 November

Jupiter Asset Management is set to merge the £39m Jupiter Growth and Income and the £68m Merian UK Equity Income funds into the £67m Jupiter Responsible Income strategy.

At two extraordinary general meetings yesterday (26 October), Growth and Income and Merian UK Equity Income shareholders 95.8% and 93.1% voting in favour, respectively. According to Jupiter, this merger is part of a "broader rationalisation of our product range to provide a more focused offering for clients". The Jupiter Growth and Income fund has seen over £6m in outflows over the last three years, while the Merian UK Equity Income fund has seen £5.4m withdrawn since October 2020, according to data from Morningstar Direct. However, the Jupiter Responsible Income fund has lost £15.1m ...