Jupiter Asset Management has confirmed plans to launch two new unit trusts for one of its highest profile managers, Philip Gibbs.
The group has submitted proposals to the Financial Services Authority (FSA) for a global absolute return fund and an international financial opportunities fund, which are now awaiting regulatory approval.
The two products are scheduled for launch in the new year.
Jupiter says the new funds are intended to make use of Gibbs’ skills in top-down macro investing, and will capitalise on his experience running hedge funds.
Gibbs manages several mandates for the group, including the Jupiter Financial Opportunities fund, which has over £1 billion under management, and the Second Split Trust.