Jupiter to launch a split cap investment trust for the retail market this autumn.

By James Thorneley The trust's capital structure will consist of zero dividend preference shares, ordinary shares and bank debt. The group is considering offering renewal to intermediaries. If this is the case it could be done in a similar way to the renewal offered by Framlington Second Dual trust and by the split cap launched earlier this year by Premier. The rolled over Framlington split capital trust offers an annual trail fee on ordinary shares of 0.5% to intermediaries. The fee is paid out of Framlington's management charge twice a year. By offering renewal it means IFAs are not ...