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The managers of the Chrysalis Investment Trust are to leave asset management group Jupiter, three years after the trust was acquired as part of a wider deal.
The investment company said on Monday that managers Richard Watts and Nick Williamson would leave Jupiter in April 2024 and set up their own investment advisory firm which will manage Chrysalis, three years after the trust was brought under Jupiter’s control through its acquisition of Merian.
The private equity trust has a market capitalisation of £370mn and assets of £800mn. Its share price has dropped 57 per cent in the past three years.
Last year, Chrysalis, in which Jupiter has a stake, changed its fee structure after a bumper performance and the management fee was paid out, just before its portfolio was hit by a sharp sell-off in stocks.
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