Jupiter to close Buxton's UK Growth trust as market cap plummets

Market cap falls to £26m

clock • 1 min read

The board of the Jupiter UK Growth trust has opted to liquidate the vehicle as a result of a substantial decline in its total market capitalisation, following a period of sustained poor performance.

Richard Buxton was handed management duties of the trust in June, with the announcement coming in February following a period of poor performance under Steve Davies, who has now left Jupiter to pursue other opportunities. The trust is currently trading on a 12% discount to its net asset value of £198m, according to Association of Investment Companies data, with its share price having fallen by around 40% since the start of 2020.   Jupiter said in March it "would keep the management arrangements under review over the coming months while the economic and market backdrop evolves and to r...

To continue reading this article...

Join Investment Week for free

  • 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

Join now

 

Already an Investment Week
member?

Login

More on Investment Trusts

Trustpilot