Jupiter Global Financials is to be renamed the Jupiter Financial Innovation Fund to reflect its changing investment policy.
The name, which will be effective from December 3, aims to reflect the investment objective set by manager Guy de Blonay who will invest in the companies he believes will shape and dominate the future of finance.
Mr de Blonay said: "The financial services industry is a completely different beast today than it was even five years ago.
"Ever more sophisticated customers now expect seamless, digital-led service and they aren’t afraid to switch to newer competitors if traditional names fail to keep up.
"With these changes, we believe we will be better placed to capitalise on the ongoing and irreversible digital transformation of the financial services sector."
The fund will aim to achieve capital growth in the long term by investing in equity and equity-related securities linked to financial innovation.
It will focus on traditional financial services companies that are embracing the digital transformation as well as disruptive innovators bringing financial technology solutions such as mobile finance, data analytics, payments and financial infrastructure to the sector.
Companies in the fund that reflect these two themes include names such as JP Morgan Chase and PayPal.
Jupiter Asset Management said the fund has beaten its benchmark, the MSCI ACWI/Financials Index by 6.3 per cent over five years and delivered 72.9 per cent to clients over that period.
Stephen Pearson, chief investment officer, added: "At Jupiter, investing with conviction is at the heart of what we do and the fact we are acting early to break the mould and pursue financial innovation is testament to this approach.
"The Jupiter Financial Innovation Fund will give clients exposure to a truly modern financials sector led by an experienced manager with a long track record in this specialist field."
Mark Ireland, financial planning consultant for Hertfordshire-based Richmond House Group, said: "I’ve always thought it appropriate for an investment fund’s name to reflect in the general terms the investment strategy of the fund itself. So the new name will of course be useful in ensuring that those that view it quickly understand what it stands for.
"The new focus of the fund is an interesting modernisation of the manager’s approach, an appreciation of the ways in which traditional financial services providers and the newer inventors in that space are growing rapidly."
Scott Gallagher, an adviser with Leicester-based Rowley Turton, added: "The name change will no doubt make the fund more attractive and more representative of its new mandate.
"Whilst this new mandate will give the manager a much greater degree of flexibility it will also increase the risk as the fund moves out of traditional banks and into tech."