Jupiter is launching two new investment funds which will be run by one of its top performing managers, Philip Gibbs.

The asset manager is planning to launch the Jupiter Absolute Return Fund and Jupiter International Financials Fund in the next two to three months.

Both funds have been created to comply with UCITS III regulations, which means they can use a wider range of investment tools such as derivatives to create returns.

The Absolute Return fund will invest globally, using cash and derivatives to respond to changing market conditions and will be managed in a similar style to Mr Gibb’s hedge fund.

Meanwhile, the International Financials fund will invest in international finance firms. Thanks to the UCITS III powers, it will use a technique called shorting to achieve long-term capital growth, which is the aim of the fund.

Philip Gibbs said: “The combination of the huge global fiscal and low interest rates has resulted in the global economy avoiding a depression and this has led to a strong rally for equity markets.

“I expect stock markets will be able to make further progress while this stimulus remains in place.”

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