Jupiter cuts investment in unlisted assets for open-ended fund

In a letter to investors, chief executive Matthew Beesley announced that the firm had reached a deal to sell the entirety of its exposure to unlisted company Starling Bank, which is held in several of the firm's funds, to various existing shareholders such as investment trust Chrysallis. Beesley said in the letter, sent yesterday (7 February), that a majority of its stake in Starling was held in the firm's £1bn UK Mid Cap fund. The fund is "well below" the Financial Conduct Authority's limit of 10% for unlisted holdings, he said, sitting at 6.5% at the end of January, 5.9% of which wa...