Jupiter To Close Non-UCITS Hedge Funds

Apr 9 2012 | 11:15am ET

Jupiter Asset Management is doing away with hedge funds as a separate business line as it prepares to switch investors into regulated vehicles.

The London-based firm plans to close its two hedge funds as part of a plan to offer hedge fund strategies through its segregated mandates. Jupiter said it made the move due to "client demand, led by changing regulation," according to HFMWeek.

The firm will close its Jupiter Hyde Park and Jupiter Financials funds. Investors will be given the option of moving into UCITS III-compliant versions of those funds, which have about £20 million in assets under management.

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