Jupiter Asset Management is to dispense with hedge funds altogether as a separate business line as it prepares to switch investors into regulated vehicles reported FINalternatives this week, quoting an industry trade magazine. The London-based firm is preparing to close its two hedge funds as part of a plan to offer hedge fund strategies through its segregated mandates and the decision, it would appear, is being driven both by client demand and changing regulation. The two funds to close will be: Jupiter Hyde Park and Jupiter Financials. Investors will be given the option to reinvest in UCITS-compliant versions of the funds, which between them currently hold around GBP20million in AUM.