The asset manager intends to open the Jupiter Strategic Reserve fund towards the end of April, subject to approval from the Financial Services Authority.
“We’re launching it mainly because we think there is an opportunity in the institutional market for this kind of product and a manager with Miles’ skills,” a Jupiter spokesperson confirms. (article continues below)
Although the fund is aimed at the institutional market, the product will have a retail share class which will feature the usual minimum investment for Jupiter’s retail investors.
Geldard joined Jupiter in June 2010 and runs the £105.6m Jupiter Strategic Total Return and £326.6m Jupiter Global Convertibles funds with longstanding co-manager Lee Manzi.