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Jupiter to launch India fund

Jupiter is to launch an onshore Indian equity fund for recent recruit Avinash Vazirani.

The group confirmed the launch is planned for the first quarter of 2008.

It will be the third onshore India vehicle to come to the UK market following funds from First State and Neptune.

Vazirani joined Jupiter in June from Peninsular Capital Partners along with three members of his team.

He ran Pensinsular Alpha – a long/short hedge fund he continues to manage at Jupiter – and Peninisular South Asia Access.

Jupiter has FSA approval for the fund and is awaiting the green light from Indian regulators before formally launching the vehicle.

Meanwhile, the group has shelved its plans to launch an investment trust for income manager Antony Nutt.

The cautious income product was due to come to the market this month but Jupiter said market volatility had forced it to postpone the listing.

The trust had planned to link gearing to the FTSE 250 index, in effect backing Nutt to outperform the mid-cap sector.

It would have been Nutt’s third investment trust. He also runs the Second Enhanced Income and Dividend & Growth splits, due to wind up in two and three years time respectively.

Jupiter said it would look again at raising money for the trust “when market conditions are right.”

Source: Investment Week

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