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Jupiter UK Special Situations – upcoming change of fund manager

Date:
Author:
The Adviser Centre
IA Sector:
UK All Companies
Asset Manager:
Jupiter

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.

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