Jupiter Asset Management has appointed Matt Cable as a fund manager within its UK Equities team. He will join the company in the summer and, after a transition period, will take over the management of the £408m Jupiter UK Smaller Companies fund.
Cable's appointment comes following the recent resignation of current Jupiter UK Smaller Companies manager James Zimmerman, who, having previously lived and worked in the US for a number of years, has decided to return to the country with his young family.
There will be a transition period between the two managers during which experienced UK Equities fund manager Richard Curling, previous fund manager on this portfolio, will take over the day-to-day running of the portfolio before handing over to Matt in the third quarter to ensure a smooth transition.
Over Zimmerman's tenure as manager, the Jupiter UK Smaller Companies fund has strongly outperformed, delivering top quartile returns of 81.02% compared to 18.75% for its benchmark and 33.39% for its sector, placing it third out of the 47 funds in its peer group over this time and top quartile over one, three and five years. Over the longer term the Fund's track record is also strong: since its launch 20 years ago the fund has returned 686.07%, versus 345.83% for its benchmark and 564.15% for the sector.
Cable joins Jupiter from M&G Investment Management where he has worked for nearly 12 years, starting out in strategic and commercial roles before becoming a dedicated analyst in the smaller companies team in 2011. As a member of this team he has been involved in the running of c. £850m of AUM, and has been lead manager of the £62m M&G PP UK Smaller Companies fund since 2014. Over this time the fund has returned 66.0% versus a benchmark return of 28.4%, and generated first quartile returns over 1 and 3 years. In August 2018 he became manager of the £400m Prudential Life UK Smaller Companies fund.