£30m to move from NSIT to Jupiter fund

Some £30m of the assets of the £87m New Star Investment Trust (NSIT) are on course to roll into a Jupiter-managed fund later this week. The High Court last week rubber-stamped the division of assets between shareholders that want to stay in the trust and those that want to switch into the Neptune fund, a unit trust investing in various Jupiter funds, run by John Chatfeild-Roberts. Originally called the Jupiter Investment Trust, NSIT was essentially launched as a way of sheltering payouts from Commerzbank to Jupiter employees. The trust followed John Duffield to New Star in 2000. The l...