Jupiter Asset Management has continued the consolidation of its suite of products and services by proposing the merger of the Jupiter Investment Grade Bond fund with the Jupiter Corporate Bond fund.
The firm contacted shareholders on 26 May with a letter, seen by Investment Week, outlining the proposal and timetable of the merger, if approved by clients at a shareholder meeting set for 28 June. Jupiter said the reasons for the merger were the dwindling level of assets in the Investment Grade Bond fund - the "merging fund" - in recent years. Since June 2020, the fund's AUM has fallen from £430m to around £149m, according to data from FE fundinfo. In contrast, the Corporate Bond fund - the "receiving fund" - was larger in size at £207.9m. According to Jupiter, the strategy ha...
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