Jupiter gains approval for UK fund merger

Jupiter gains approval for UK fund merger

Jupiter has been given the go-ahead by investors to merge its Undervalued Assets fund into Steve Davies’ UK Growth fund.

The move was proposed in April when Ian McVeigh, who had been running the £1.5bn Jupiter UK Growth fund for the past 12 years, was appointed to the newly-created role of head of governance at the group.

And now unitholders have backed the move at an extraordinary general meeting. The merger takes place on Friday July 3.

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Mr Davies began working on the UK Growth fund in 2007, when he joined Jupiter, and had been co-manager since early 2013. Steve has also managed the Jupiter Undervalued Assets fund since January 2012.

Jupiter said there would be no change in terms of the investment style and process.