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How will Jupiter's growth strategy change under new chief?
by Eleanor Lawrie on Dec 09, 2013 at 14:27
'I would ascertain they are going to want to grow that side of the business. I'm sure it [Jupiter] does not lack any ambition.'He argued that key man risk is not a big concern, as Bonham Carter did not manage any funds.
'Edward Bonham Carter has been hugely instrumental. All credit goes to him but I can't see a massive change in culture. It's not quite the same situation as if you had a key man leaving a particular fund. I don't think it's going to create too much uncertainty and the share price is telling us this - it's up a few pence, so the market accepts the reasons for the change,' he said.
At 14:00 Jupiter's share price was up by 0.13% on the day at 379p.
Scott Spencer, a multi-manager at Aberdeen Asset Management whose team holds the Jupiter Strategic Bond fund, also expects further growth under the new chief executive.
'The strategy will be very much as it has been - to keep going in the UK and also go more international. It's not something that will change the business rapidly,' he said.
'That has been the aim of the business for a while, to build up the international side so I think that will carry on at the same pace, or maybe quicker.'
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Ian McVeigh and Steve Davies, managers of Jupiter's UK Growth fund, talk about their predictions for the UK equity space. Click here to watch a series of sponsored interviews with Jupiter's fund managers on the UK equity market.
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by Anna Dumas on Apr 16, 2014 at 12:50