New Star and Jupiter agree split

New Star founder John Duffield has reached agreement with Jupiter to split the New Star Investment Trust (NSIT), with Jupiter bearing the estimated £400,000-£450,000 reconstruction fees. Jupiter, which claims to have around 70 current employees with savings in the trust, said it will continue with legal action if the reconstruction does not take place by 25 October. According to Jupiter, both groups face significant costs over the legal action, which amounts to around £1m for Jupiter alone. The group started the legal action last year in an attempt to force Duffield, chairman of NSIT an...