Two Jupiter Asset Management funds, launched by Philip Gibbs, have raised £342 million in the pre-launch fund raising period, Financial Times reports. The Jupiter Absolute Return fund has raised over £244 million, while the Jupiter International Financials fund has raised over £98 million.

The amount raised during the pre-launch period includes a total of £153 million of switches from the Jupiter Financial Opportunities fund. The two Ucits III funds are focusing on retail investors seeking access to long-short strategies, adds Reuters.

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