Jupiter

EUROPE

Managers are increasingly concerned about the future resilience of UK dividends as payouts hit record levels and a slowing economy prompts the need for companies to reallocate capital.

Jupiter's Merlin multi-manager team, headed by CIO John Chatfeild-Roberts, have initiated a holding in Terry Smith's Fundsmith Equity fund as they increase their exposure to 'global titan' corporates.

Industry veterans Richard Buxton and Alastair Mundy, alongside rising stars including Stuart Rhodes, have been shortlisted for this year's Morningstar OBSR Honours awards.

Jupiter chief executive Edward Bonham Carter has said the significant disruption facing platform business models in the run-up to RDR will lead to consolidation in the space.

Strong retail fund flows in the first half of 2012 have driven Jupiter's AUM to £23.4m, exceeding analyst expectations as the group reported net profit of £31.2m for the period.

The continued squeeze on liquidity in the corporate bond market could lead to the closure of larger funds to investors and even cause parts of the corporate bond and gilt markets to shut down.

John Hamilton is to step down from his role as head of fixed interest at Jupiter after almost 25 years at the group.

Last month's Rio Earth Summit, written off as a disappointment by most, still produced encouraging signs for socially responsible investors, according to Jupiter's Charlie Thomas.

A variety of asset classes and investment strategies feature in the list of funds with the largest outflows in the first half of the year.