The North American Equities SICAV launched by UK-based Jupiter Asset Management will be managed by Sebastian Radcliffe.

The fund, part of the Luxembourg-domiciled Jupiter Global Fund, will be made available to European investors seeking exposure to potential growth in the US market.

The new fund will be run along broadly similar lines to the unit trust, which Mr Radcliffe has managed since January 2001. There will not, however, be an income requirement. 

The fund is registered in Austria, Germany, Finland, Sweden, Switzerland, Jersey, Singapore (for institutional investors only) and the UK (FSA-recognised). Jupiter also intends to register the fund in France and Hong Kong. It will be available in three currency classes, US dollars, euros and sterling, although only the US dollar class will be activated at launch.