Jupiter swaps benchmark and reduces annual fee for Responsible Income fund
The investment policy of the fund will also be updated to provide greater clarity of how ESG considerations are incorporated into its investment approach.
In a letter to shareholders on 14 August, the firm said the comparator benchmark of the £65.1m fund would be updated from the IA UK All Companies sector to the IA UK Equity Income sector to provide «greater clarity» on the fund's objective and income focus.
«We therefore believe it is more appropriate to compare the fund's performance with other funds in the IA UK Equity Income sector and the fund's classification is also changing to this IA sector,» it said.
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The fixed annual charge of all unit classes in the fund will be reduced and the income allocation frequency of the fund will be changed from semi-annually to quarterly.
Jupiter will also update the investment policy of the fund, which is managed by James Moir, to provide greater clarity of how ESG considerations are incorporated into its investment approach.
It will be updated to clarify that the fund invests in companies that are providing solutions to environmental and/or social problems — rather than environmental and social — and provide additional information on the manager's responsible investment approach and exclusions policy.
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The firm will also add some associated risk factors to highlight specific ESG related risks that apply to the fund.
The investment policy, fixed annual charge and income allocation frequency changes will apply from 25 October 2023, and changes to its comparator benchmark and IA sector from 31 October.
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