Jupiter Global (JPG - previously Primadona) is planning to switch investment strategy and category from Global Growth to UK All Companies.
The manager will also change to Steve Davies who currently manages the Jupiter UK Growth unit trust. The managers are concerned about the ability of the trust to grow and its active discount policy has shrunk the trust and it is now on the small side (~£50m).
I’ve held this trust for years and quite like its mix of UK equities with other trusts/funds to get regional exposure, though performance has been somewhat middle of the road.
Given the number of other good performers in the UK All Companies sector like JP Morgan Midcap, Keystone and Fidelity Special Values - I’m tempted to switch out.
It seems to be quite an active period for trusts changing sectors or managers, and it looks like smaller trusts are struggling with the new emphasis on costs.