Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Regulatory change pushes Jupiter out of money markets

Regulatory change pushes Jupiter out of money markets

Jupiter is to close its money-market fund as changes to banking regulation have shrunk the pool of assets in which it could invest.

‘The reason we are closing the fund is that the regulatory environment will be changing, with a series of measures designed to make the global financial system more robust,’ a spokesperson for the firm told Wealth Manager.

‘One of the measures will be to place additional capital requirements on banks. As a consequence, it is likely there will be less appetite for issuance or deposits of a short-term nature, which would reduce the pool of investments available to money-market funds, including the fund.’

The £73 million Jupiter Cash fund will therefore liquidate next month. It has outperformed its sector average over one, three and five years.

Its manager Caroline Horsford has also decided to retire following a career in the financial services industry spanning four decades, including 14 years at Jupiter.

Horsford joined the firm in 2000, having previously worked at J Henry Schroder & Co and Samuel Montagu & Co.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play On the Road Challenge: Clay pigeon shooting with Thesis' Lansdowne

On the Road Challenge: Clay pigeon shooting with Thesis' Lansdowne

Eleanor Mahmoud goes clay shooting at the National Clay Shooting Centre with Sam Lansdowne from Thesis Asset Management

Play AA-rated Flood on gov't bonds: 'the maths doesn't add up'

AA-rated Flood on gov't bonds: 'the maths doesn't add up'

He also addresses why his Newton Multi-Asset Income fund has such a high cash weighting and why he sees renewables as such a good opportunity.

Play AAA-rated Ali: Identifying the peripheral European plays

AAA-rated Ali: Identifying the peripheral European plays

Citywire AAA-rated Tawhid Ali thinks that plenty of good stocks in the European periphery are being thrown out with the proverbial bath water.

Read More
Your Business: Cover Star Club

Profile: Brewin's Cardiff boss on the Welsh opportunity

Profile: Brewin's Cardiff boss on the Welsh opportunity

Prior to becoming head of Brewin Dolphin Cardiff, Welshman David Myrddin-Evans had only previously visited the city to watch the rugby.

Wealth Manager on Twitter