Brexit

Brexit

Jupiter has taken a number of steps to mitigate the impact of Brexit for our investors around the world whatever the form which the UK’s exit from the European Union (EU) may take following the expiry of the transitional period. Jupiter’s overarching aim has always been to ensure that all our investors can continue to access the company’s investment management strategies, and plans have been implemented to manage the risks associated with Brexit.

Information for investors in our UK Unit Trusts and Investment Trusts

We do not require investors in our UK fund range to take any action as a result of Brexit.

There have been minimal changes required to our UK fund range as a result of the UK’s departure from the EU on the basis that our UK Unit Trust and Investment Trust range have been marketed primarily to UK investors. Further we do not anticipate any material changes being required following the end of the transitional period. Nevertheless we continue to monitor developments in the negotiations and will adapt our plans accordingly.

We anticipate that, following the expiry of the transitional period, UK-domiciled UCITS funds will no longer qualify as UCITS although this should not impact the majority of investors in our Unit Trust range. Importantly, following Brexit, all of the funds within our UK fund range are and, after the end of the transitional period, will continue to be managed in the same way, with the same investment objectives and by the same investment teams. The Jupiter Group Companies appointed to manage these funds will also not change.

If you are a client from an EU27 state and are currently invested in a Jupiter Unit Trust fund, you will need to make a determination as to whether you are or will be permitted to continue to hold that investment by the laws and regulations of your home state. Please contact us if you would like to discuss this further, including the option of switching to an equivalent SICAV fund. For such investors in our UK funds, please note that, following the end of the transitional period, you will continue to receive the same periodic reporting with respect to your investment as you currently receive. Such reporting is not intended to constitute marketing activities and any decision by you to make any further investment in the relevant fund should be carried out independently and without reliance on the reporting provided by us to you.

Information for investors in our Luxembourg SICAV fund range

We do not require investors in our Luxembourg funds to take any action as a result of Brexit.

Our Luxembourg fund range will continue to offer UCITS-compliant funds throughout the EU and globally.

In order to ensure continuity of business for our investors in our Luxembourg funds, we established a management company in Luxembourg, Jupiter Asset Management International S.A. (“JAMI”), which is regulated by the Luxembourg regulator, the Commission de Surveillance du Secteur Financier. We hired a number of employees in Luxembourg to manage this office and support our existing business and planned growth in Europe and globally. JAMI was appointed as the management company to Jupiter’s Luxembourg funds on 1 March 2019.

We do not expect any other significant changes will be needed to our Luxembourg fund range but we continue to monitor developments in the negotiations between the UK and the EU during the transitional period and the final relationship between the UK and the EU following its expiry. The UK’s Financial Conduct Authority and the EU’s European Securities and Markets Authority have stated that the relevant regulatory framework will be implemented to permit Jupiter Asset Management Limited to continue to act as portfolio manager to Jupiter’s Luxembourg fund range.

Following Brexit, all of the funds within our Luxembourg fund range are and, after the end of the transitional period, will continue to be managed in the same way, with the same investment objectives and by the same investment teams, unless we notify you otherwise.

Information for investors in Merian funds