The board of Richard Buxton's £33.9m Jupiter UK Growth investment trust (JUKG) has laid out its recommended proposals for the reconstruction and voluntary winding-up of the company, following December's announcement that it would team up with Brown Advisory Funds (BAF) to offer investors a "rollover option" to receive replacement shares in the firm's Global Leaders fund (BAGL).
JUKG's board first announced its intentions to liquidate the trust in October last year, following poor performance for a "number of years" and a subsequent lack of demand from investors. Former manager of the trust Steve Davies was replaced by Richard Buxton in February last year, a day after it was announced that Jupiter Fund Management would acquire Merian Global Investors. However, assets under management continued to dwindle and a voluntary wind-up through solvent liquidation proved to be "the best option", according to the board. Jupiter AoV highlights 42,000 direct investors...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
