Jupiter Emerging & Frontier Inc.Tst Change of Fund Manager (1472G)
28 Março 2022 - 6:00AM
UK Regulatory
TIDMJEFI
RNS Number : 1472G
Jupiter Emerging & Frontier Inc.Tst
28 March 2022
28(th) March 2022
Jupiter Emerging and Frontier Income Trust
("JEFIT", or the "Company")
Change of Fund Manager
On 8 March 2022, the Board announced its intention to put
forward proposals for a members' voluntary liquidation of the
Company. The Board is working on formal proposals to put to
shareholders in the coming weeks and it is envisaged that, in
addition to offering a full cash exit less costs, an option will be
proposed to allow shareholders the opportunity to rollover into
another vehicle through a scheme of reconstruction of the Company.
To this end, conversations regarding potential rollover vehicles
are taking place with a number of investment management houses,
including Jupiter. A further announcement will be made in due
course.
Since launch in 2017, the Company's Investment Adviser has been
Jupiter Asset Management Limited, led by fund manager Ross
Teverson. The Board has been informed that Ross has decided to
leave Jupiter with effect from 31(st) March 2022. Matthew Piggott,
who has worked alongside Ross in Jupiter's Global Emerging Markets
team for five years and who has been involved in the investment
management of the Company's portfolio for the last two years, will
assume lead fund management responsibility from that date.
John Scott, Chairman of JEFIT, commented: "Ross Teverson's
investment record at JEFIT has been strong and at all stages he has
enjoyed the Board's full confidence. The decision to wind up the
Company was driven by the steady shrinkage of the net assets
through its annual redemption facility, which has resulted in a
trust which, in the opinion of the Directors, has fallen below the
minimum desirable size for a fund of this kind and which in current
market conditions will be difficult to grow to an acceptable
level.
"The Board of JEFIT would therefore like to thank Ross for what
he has achieved over the past five years in very challenging
conditions and to wish him every success in the next phase of his
career."
Enquiries:
Magnus Spence
Jupiter Asset Management Limited, Company Secretary
020 3817 1000
investmentcompanies@jupiteram.com
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END
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