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On 9 January 2024, it was announced that Ben Whitmore, manager of the Jupiter UK Special Situations fund, is leaving the firm to pursue his ambition of establishing an independent value equities boutique. His colleagues, Dermot Murphy and Claudia Ripley, will also leave the firm to join Mr Whitmore in the new venture.
On the same day, it was announced that Alex Savvides, manager of the JOHCM UK Dynamic fund, will be leaving JO Hambro Capital Management and will join Jupiter Asset Management by the autumn of this year. He will become the manager of Jupiter UK Special Situations following a planned handover period.
Prior to these announcements, JOHCM UK Dynamic featured on our Recommended list but has now been removed (please see the related bulletin here).
For the time being, Jupiter UK Special Situations remains on our Recommended list. Like Mr Whitmore, Mr Savvides seeks to invest in undervalued companies and, while both funds display clear “value” characteristics, historically, Jupiter UK Special Situations has been positioned more definitively on the value side of the style spectrum.
Mr Savvides has stated his intention to bring his own investment approach to bear upon Jupiter UK Special Situations, whilst retaining the fund’s value heritage. Given our knowledge and understanding of Mr Savvides’ skills and experience, we are keen to retain the fund on our Recommended list. Equally, given the importance of this change, we will remain in close communication with Jupiter during this time of transition.
At The Adviser Centre, our primary aim is to support financial professionals in their fund selection and suitability work through independently-minded research, borne of decades of industry experience. Our process is framed by the fundamental concepts of “quality”, “value” and “utility”, through which we answer the key questions of why to invest in a fund, how it is likely to behave and how it can be deployed.
The Adviser Centre team members are some of the most experienced in the fund research industry. We can always look forward to robust and constructive discussions and we have great respect for their views and perspectives, which, given the breadth of their fund and market knowledge, come from an extremely well-informed position.
We have known and worked with the team for several years and we value their experience and the insights they provide to our own investment process. The service differentiates itself by its more focused nature and the information on their factsheets is useful in emphasising a fund’s key mandate, exposure and style biases, helping to explain the risk/return journey that our customers can expect.
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