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Jupiter's Alexander Darwall to launch own fund business

Jupiter European fund manager Alexander Darwall is to leave Jupiter on 1 October 2019 and set up his own fund group, Devon Equity Management.

In a statement to the stock market, Jupiter said it has been in talks with the manager of the Jupiter European fund and Jupiter European Opportunities investment trust about his future plans.

"Alexander has told the company that he would like to fulfil a long-held ambition to launch a small investment management business," it said.

Jupiter added that Darwall had agreed not to compete with Jupiter's open-ended funds for a period of two years.

The board of the Jupiter European Opportunities trust said it had "decided to investigate the possibility of appointing Devon to advise on its investment portfolio and has instructed its professional advisers to assist in a due diligence exercise and to consult with its shareholders.

"The board is in negotiations with Jupiter regarding the ongoing management arrangements and investment management contract."

Mark Nichols from Columbia Threadneedle has joined Jupiter to take over the running of Darwall's £5.1 billion Jupiter European and £2.4 billion Luxemboug-based Jupiter European Growth funds.

- uploaded - 27 August 2019

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