Jupiter to scrap performance fee on Absolute Return fund

The performance fee is currently 15% of outperformance above hurdle rate, 3-month Sterling LIBOR, subject to a high water mark. The move comes at the start of the fund's financial year and brings it into line with most of the rest of Jupiter's fund range.     Wealth managers have called for the fee to be scrapped, amid disappointment over the fund's performance. Over the last year, the fund is down 2.1% compared to a 6.5% average return for the IMA Targeted Absolute Return sector, according to Trustnet figures. The fund has also underperformed over three years, returning 2.7% compared...