Jupiter star ploughs into cash

Fund firm Jupiter’s high-profile investor in financial stocks, Philip Gibbs, has put more than half his fund into cash as uncertainty around the election and western government debt hamper visibility. Gibbs, who made his name when a heavy cash position helped his financials fund turn a profit during the credit crisis, had 52 per cent of the portfolio in cash as of end-February against 13 per cent at the end of 2009, a factsheet showed.