On the 19th September 2011 Jupiter Environmental Income fund will change its name to Jupiter Responsible Income fund and expand the universe of funds it invests in to include the resource sectors of mining and oil & gas.
Chris Watts, the fund manager, explains that this is so that he can increase the amount of dividend stocks which he can invest in. The fund has always had a ‘responsible’ mandate and engaged with the company it invests in, but Jupiter are now taking the view that they would like to actively engage with a wider group of companies.
The change does not require unit holders approval because there is nothing in the fund’s literature, which specifically excludes oil & gas, or mining companies. To date this fund has avoided these areas as a result of the Jupiter house view, rather than the fund’s mandate.