Saturday, 18 April 2015
Last updated 18 hours ago
Nov 23 2009 | 6:13am ET
Investors in Jupiter Asset Management’s Financial Opportunities hedge fund will be able to move to their money to a pair of new retails funds for free.
All three funds are run by star portfolio manager Philip Gibbs. But the two new funds—now set to launch on Dec. 14—are UCITS III-compliant. Jupiter has told clients it will not impose a charge on investors who wish to move into one or both of the new funds, and that they will not face capital gains tax liability.
“Philip has built a loyal following in the 12 years since we launched Jupiter Financial Opportunities,” Gordon Davidson, joint managing director, told Investment Week. “While some may opt to leave their entire investment in this fund, we felt it would be fair to offer a switching facility to those who like to switch but who would otherwise have found themselves facing a CGT liability.”
Clients who invest in Financial Opportunities through the CoFunds, Fidelity or Hargreaves Landsown platforms will also be eligible to switch, although the platforms will manage the move.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…