Jupiter

Jupiter is planning to scrap the performance fee on its Absolute Return fund from 1 November, two months after manager Philip Gibbs hands the vehicle over to new recruit James Clunie.

Chris Crawford, sales and marketing director at Jupiter, is to depart after seven years at the fund manager.

A number of UK equity income managers have begun building positions in Lloyds Banking Group as the lender prepares to return to the UK dividend register.

Shares in Lloyds Banking Group and Jupiter Fund Management soared on Thursday after both groups reported hefty profits in their half-year results.

Jupiter has reported net mutual fund flows of £426m for the first half of 2013 despite the Retail Distribution Review (RDR) "dampening" UK business.

Jupiter's Philip Gibbs it to hand over his £536m Absolute Return fund to recent hire James Clunie in September, ahead of his retirement in 2014.

Does Europe warrant inclusion in portfolios yet? Mona Shah, assistant manager on Rathbones' multi-asset portfolios, examines the fundamentals.

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