Jupiter Asset Management Branches Into Hedge Funds

Philip Morton, Investors Offshore.com

16 February 2001

UK-based Jupiter Asset Management, a wholly owned subsidiary of of Jupiter International Group PLC, is to branch into hedge funds, offering the increasingly popular alternative investment vehicle to the ordinary man in the street.

Once the preserve of high-profile, wealthy risk-takers such as George Soros, hedge funds are growing globally and are becoming more readily available. They have often been termed the "new mutual fund."

According to a report in UK daily the Telegraph, John Chatfeild-Roberts, Peter Lowery and Algy Smith-Maxwell have been poached from Lazards to run a "fund of hedge-funds" for private investors. They will invest in a range of funds usually only available to large institutions. Hedge funds are risky but unlike other forms on investment, they can make money even when markets are on a downward slide.

The Telegraph quoted Edward Bonham-Carter, Jupiter Chief Executive, as saying: 'The average UK punter had not had the chance to invest in these things. The actual meaning of the word hedge is to reduce risk. LTCM (Long Term Capital Management - a now infamous hedge fund catastrophe in the US) gave the whole thing a bad name.'

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