Jupiter’s UK equity income manager Alastair Gunn has taken over as the standalone manager of the Jupiter Growth & Income Fund, effective from today.
The £82.7m fund which was launched 20 years ago in November, was previously managed by Chris Watt, who left Jupiter in early 2016. Gunn, who replaces the fund’s interim manager Steve Davies, takes the helm of fund as his first standalone project for Jupiter.
The objective of the fund, to achieve long-term capital and income growth through investing principally in UK shares, will remain unchanged. Jupiter said in a statement announcing the changes that Gunn, who has six years’ experience as an income and growth manager, is “well suited” to the investment mandate.
Gunn also manages the equity portion of the Jupiter Distribution fund range including the Jupiter Distribution & Growth fund, which he co-manages with fixed income manager Rhys Petheram. Jupiter said that he will continue with these duties alongside the management of his new fund.
The portfolio of the Jupiter Growth & Income Fund currently has some overlap with the equities held in the Jupiter Distribution fund. Over time this is likely to increase, the statement said, as Gunn would be looking to make changes, in an orderly transition to optimise value, so that the portfolio reflects his high convictions and best ideas.
Stephen Pearson, chief investment officer at Jupiter, pointed to Gunn’s “strong track record on the multi-asset funds he co-manages” and said that his “approach and experience is well matched to achieve the fund’s aim”. He added that Gunn will be supported by Jupiter’s UK equities team, including newly appointed product specialist Claudia Ripley, on the fund.