Jupiter European Funds Downgraded After Manager Changes

Morningstar analysts have downgraded two Gold-rated funds previously run by Alexander Darwall after Jupiter announced changes to management

Samuel Meakin 3 April, 2019 | 9:20AM

Alexander Darwall

Jupiter has announced that Alexander Darwall will step away from the management of the Jupiter European and Jupiter European Growth funds later in 2019. Following a transition period, Mark Nichols will assume the role as sole manager. Nichols was comanager of Threadneedle European Select alongside lead manager David Dudding, and he also has portfolio management experience prior to that from his time at F&C, but generally not in a sole manager role. Upon taking over here, Nichols will have the latitude to implement his own approach, and the exact shape the portfolio will take is not clear at this stage. Our previous positive view of this strategy was largely predicated on the experience of Darwall, and the consistency and stability he provided in implementing his proven approach over his lengthy tenure. As a result, we have moved the Morningstar Analyst Rating to Neutral from Gold.

Darwall has managed the strategy since February 2001. Prior to joining Jupiter in 1995, he was executive director of European research at Goldman Sachs. In addition to this strategy, he has also managed Jupiter European Growth (SICAV) since 2007 and Jupiter European Opportunities (Investment Trust) since 2000. All are managed using the same approach, look for the same types of companies, and have a high level of commonality.

 

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About Author

Samuel Meakin  is a fund analyst for Morningstar

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