We regret to announce that we have removed the Jupiter Strategic Reserve fund from Square Mile's Academy of Funds. Following a period during which the fund has struggled to deliver returns ahead of its stated objectives, combined with a change in the management structure of the fund, our conviction in the strategy to meet its stated objectives in the foreseeable future has waned. Whilst we believe the recent hires to the team will be supportive over time, we prefer to give the team some time to settle down and feel we can no longer recommend the fund to investors at this point.