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Derek Pound to leave Jupiter as Global Energy closes

Derek Pound to leave Jupiter as Global Energy closes

Jupiter is to shut its Global Energy fund and its manager Derek Pound is to leave the company after almost 20 years.

‘He departs with sincere thanks and very best wishes for the future from all of us,’ said Jupiter head of investments Stephen Pearson.  

‘Derek has been a longstanding and valued member of the UK equities team for nearly 20 years and a popular character in the firm.’

Launched in 2011 as a 10-year bull market in energy and materials was coming to its end, Jupiter Global Energy only gathered £21 million in its three-year life.  The fund has consistently sat in the middle of Citywire’s 15-strong Energy sector league table.

Pound has a strong long-term record as co-manager of the Jupiter Primadona investment trust, which is up 89% over five years versus a 82% return from the FTSE World Index. He has also managed the UK equity allocation of the Jupiter Global Managed fund since 2005.

‘After nearly 20 enjoyable and fruitful years at Jupiter I feel it is time for a new challenge,’ said Pound.

‘Hence I will be leaving the company at the end of September. I would like to thank you all for your friendship and support over that period. To all my colleagues at Jupiter I offer my best wishes for the future as you take Jupiter forward over the next twenty years and beyond.’

 

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