Industry experts have welcomed Jupiter’s intention to no longer buy unlisted assets for its open-ended funds, hailing the move as an overdue but positive development for investors.
On Tuesday (7 January), Jupiter's CEO Matthew Beesley sent a letter to investors announcing a new policy that banned unlisted assets across its open-ended funds. The move came following a change in "investor sentiment" towards unquoted companies in open-ended vehicles, the chief executive said. It also coincided with the sale of its last private holding, Starling Bank, which is held in several of the firm's funds, to various existing shareholders such as investment trust Chrysalis. A spokesperson for Jupiter confirmed that there would be no change to Jupiter UK Mid Cap's investment...
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