October 2021
Jupiter appoints Assistant Fund Manager to absolute return bond strategy
• Huw Davies appointed Assistant Fund Manager, Fixed Income
• Matthew Morgan appointed Investment Director, Fixed Income and Multi-Asset
Jupiter is pleased to announce the appointment of Huw Davies as Assistant Fund Manager on its Strategic Absolute Return Bond (SARB) team.
Huw, who joined Jupiter in the summer of 2020 following the company’s acquisition of Merian Global Investors, has been working with the SARB team for over four years in his capacity as Investment Director, Fixed Income. In his new role as Assistant Fund Manager, Huw will report directly into Mark Nash, Head of Fixed Income Alternatives, and will work alongside Assistant Fund Manager James Novotny, strengthening the resource dedicated to Jupiter’s alternative fixed income offering.
Having joined the Jupiter stable following the Merian acquisition, the team’s flagship portfolio, the Jupiter Strategic Absolute Return Bond Fund (ICVC), looks to deliver positive total returns uncorrelated to bond and equity market conditions, with stable levels of volatility. Powered by its flexible approach to navigating volatile fixed income markets, the fund has delivered 18.23% over three years and 20.4% over five1. The fund is Jupiter’s first footprint in the alternative fixed income space and has added a new dimension to the company’s existing Alternatives business.
In addition to Huw’s appointment, Jupiter is strengthening the client-facing support offered to its flagship fixed income strategy with the promotion of Matthew Morgan to Investment Director, Fixed Income and Multi-Asset. Having joined Jupiter in 2019 as Product Specialist, working on Jupiter’s Multi-Asset strategy under Head of Strategy, Multi-Asset, Talib Sheikh, in his new position Matt will co-ordinate the activities of Jupiter’s team of Investment Directors across the company’s £15.3bn Fixed Income and £1.1bn Multi-Asset ranges, leading a growing team of strategy specialists2.
Mark Nash, Head of Strategy, Absolute Return Bond, commented: “Since the onset of the Covid pandemic, the policymaking landscape has dramatically changed. Fiscal spending is unlikely to disappear anytime soon as inequality and global warming issues are addressed. Central banks will remain supportive but will take more of a backseat, while ensuring that banking systems are in good health to support the recovery. This reflationary environment will see higher growth and higher inflation, with yields rising. In my view, a more ‘absolute return’ approach will be needed to achieve positive returns from fixed income, and I am pleased to be welcoming Huw to the team at this important time in for the strategy.”
Stephen Pearson, CIO, added: “Since joining Jupiter, the Strategic Absolute Return Bond strategy has continued to go from strength to strength, demonstrating the team’s ability to deliver positive returns from a macro driven allocation process throughout changing market conditions.
“At Jupiter we remain committed to retaining and nurturing talented individuals who exemplify our dynamic, active investment culture. Both Huw and Matt have already made huge contributions to Jupiter’s investment offering and we are pleased to be offering further support to the team as we continue to build out this important standalone strategy.”
1 Fund performance versus a benchmark (US Federal Reserve Overnight Rate) return of 3.3% for 3 years, 3.1 for 5 years. Source: Morningstar, NAV to NAV, gross income reinvested, net of fees, in USD, to 31.08.21
2Source: Jupiter, as at 31.08.21
For further information, please contact:
Despina Constantinides
Head of Communications
+44 (0)20 3817 1278 / +44 (0)7801 337 677
Mark Cotton
Senior Corporate Communications Manager
+44 (0)20 3817 1282
Notes to Editors
In addition to the fund’s repositioning, the portfolio’s permitted exposure to securities which are rated below Investment Grade will rise from 85% to 100% of the fund’s Net Asset Value (NAV). The fund’s benchmark will change to a composite made up of 65% J.P. Morgan Corporate Emerging Markets Bond Index (CEMBI) Broad Diversified and 35% J.P. Morgan Emerging Market Bond Index (EMBI) Global Diversified.
About Jupiter:
Jupiter is a specialist, high conviction, active asset manager committed to making a positive difference for our clients by helping them achieve their long-term investment objectives. From the origins in 1985, Jupiter now offers a range of actively managed strategies available to UK and international clients including equities, fixed income, multi-asset and alternatives. Jupiter is a constituent member of the FTSE 250 Index and has assets under management of £60.3bn /$83.4bn /€70.3 as at 30/06/21.
Independence of thought and individual accountability define Jupiter. The fund managers follow their convictions and seek those investment opportunities that they believe will ensure the best outcome for Jupiter’s clients. They do this through fundamental analysis and research, a clear investment process and risk management framework, with a focus on good stewardship.
Jupiter believes that asset managers have a critical leadership role to play in helping to resolve some of the greatest challenges facing the world. In this spirit, Jupiter is proud of the long-established credentials in the fields of ESG and sustainable investment, and the ongoing commitment to specialism and innovation in these areas. Jupiter is a constituent member of the FTSE4Good Index, and a signatory on a number of key initiatives such as the UN Principles for Responsible Investment.
Jupiter’s values and responsible business practices are aligned with the principles of the UN Global Compact and the 2020 UK Stewardship Code. Having engaged with the Financial Reporting Council (FRC) on the implementation of the 2020 UK Stewardship Code, Jupiter supports this reinvigorated framework and has undertaken further investor outreach with the FRC and the Investment Association (IA). Furthermore, Jupiter obtained the A+ score for strategy and governance in the latest assessment of activities under the Principles for Responsible Investment (PRI) and also maintained the ‘A’ status under the PRI principles for our equities strategies and improved our ranking to an ‘A’ in fixed income. Jupiter is a member of the Investor Forum (IF), the UK body which helps facilitate collective engagement with companies, with Jupiter’s Edward Bonham Carter on the Board of Directors. Jupiter Chief Executive Andrew Formica is a Board member of the IA and a member of the UK Government’s Asset Management Taskforce, which represents the interests of our industry in key decision-making forums.
The information contained in this press release is intended solely for members of the media and should not be relied upon by private investors or any other persons to make financial decisions.
This communication, including any data and views in it, is not a financial promotion as defined in MiFID II. It does not constitute an invitation to invest or investment advice in any way. Every effort is made to ensure the accuracy of any information provided but no assurances or warranties are given.
Market and exchange rate movements can cause the value of an investment to fall as well as rise, and you may get back less than originally invested.
The views expressed are those of the Fund Manager at the time of writing, are not necessarily those of Jupiter as a whole and may be subject to change. This is particularly true during periods of rapidly changing market circumstances.
Issued in the UK by Jupiter Asset Management Limited, registered address: The Zig Zag Building, 70 Victoria Street, London, SW1E 6SQ is authorised and regulated by the Financial Conduct Authority. Issued in the EU by Jupiter Asset Management International S.A. registered address: 5, Rue Heienhaff, Senningerberg L-1736, Luxembourg which is authorised and regulated by the Commission de Surveillance du Secteur Financier.
This communication provides information relating to Jupiter Emerging Market Debt Income Fund (the “Fund”), which is a sub-fund of Jupiter Asset Management Series plc. Jupiter Asset Management Series plc is an investment company with variable capital established as an umbrella fund with segregated liability between sub-funds which is authorised and regulated by the Central Bank of Ireland pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011, as amended. Registered in Ireland under registration number 271517. Registered office: 33 Sir John Rogerson’s Quay, Dublin 2, Ireland. An investor should read the Key Investor Information Document(s) (“KIID”) before investing in the Fund. The KIID and the prospectus can be obtained from www.jupiteram.com in English and other required languages.